Revolutionary Concepts Inc. Advances Negotiations With Developer in Three Billion Dollar Toy Market With Focus on Smart Toy &...
Revolutionary Concepts Inc. Advances Negotiations With Developer in Three Billion Dollar Toy Market With Focus on Smart Toy and Cloud Based Interaction
CHARLOTTE, NC--(Marketwired - Mar 26, 2014) - Revolutionary Concepts Inc. (OTCQB: REVO), a publicly traded company that develops mobile video software and remote security communication systems, has begun advanced contract negotiations to further the process of bringing its Smart Toy technology to market via patent sale and/or licensing agreements.
According to Kids and Apps: A New Era of Play, a 2013 report from global information company, The NPD Group, 79 percent of parents with children ages 2 - 14 report that they or their children own some type of mobile device, such as a traditional cell phone, smartphone, or tablet; up from 63 percent last year.
Advances in the wireless technologies and device speeds allow for more affordable and engaging toy and education products. Future connectivity to local or cloud based networks will allow children to receive information and interact in a way that seemed impossible a decade ago.
Ron Carter, President & CEO, states, "Manufacturers such as Mattel and Fisher Price have already begun to offer toy products with smart devices. Mattel's 'Apptivity Toys' rely on the same smartphone and tablet devices that could facilitate REVO's patented technology allowing for advanced interaction with the child. Our advanced technology goes on to integrate the technology into an actual toy product offering customized communication options using Wi-Fi and Bluetooth partnered with cloud based applications in a manner that could foster a two way interaction with a child's favorite television or movie character."
"We owe it to our investors to make sure that we are focused in exploiting all of the additional patents inclusive of the children's products, security, and medical applications. As with our most recent security patent negotiations where we successfully gained upfront licensing fees and royalties, our negotiations with potential partners illustrate our commitment to executing the best agreements for REVO and its shareholders. We expect to complete these negotiations soon and look forward to announcing our efforts to the public," states Solomon RC Ali, Vice President.
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