Note 12 - Subsequent Events	9 Months Ended
Sep. 30, 2014
Notes
Note 12 - Subsequent Events	NOTE 12 – SUBSEQUENT EVENTS On January 2, 2015, our wholly owned subsidiary, Greenwood Finance Group, began collecting interest payments on its $7,000,000.00 in notes receivable. The subsidiary collected payments consisting of cash equivalents valued at approximately $1.2 million dollars. On January 13, 2015, the Company approved two principal features of a restructuring and recapitalization plan. The features of the plan include raising capital and exchanging much of the Company’s senior secured debt and related obligations for new equity. The Board approved the strategic plan which is designed to restructure and recapitalize the Company. The principal features of the plan encompass a recapitalization and balance sheet restructuring, which includes the creation of new classes of preferred shares and a debt-for-equity exchange. In accordance with ASC 855-10 Company management reviewed all material events through the date of this report. Unless otherwise noted, references in this Form 10-Q to “RCI”, “we”, “us”, “our”, and the “Company” means Revolutionary Concepts, Inc., a Nevada corporation.

Note 12 - Subsequent Events

9 Months Ended

Sep. 30, 2014

NOTE 12 – SUBSEQUENT EVENTS

On January 2, 2015, our wholly owned subsidiary, Greenwood Finance Group, began collecting interest payments on its $7,000,000.00 in notes receivable. The subsidiary collected payments consisting of cash equivalents valued at approximately $1.2 million dollars.

On January 13, 2015, the Company approved two principal features of a restructuring and recapitalization plan. The features of the plan include raising capital and exchanging much of the Company’s senior secured debt and related obligations for new equity. The Board approved the strategic plan which is designed to restructure and recapitalize the Company. The principal features of the plan encompass a recapitalization and balance sheet restructuring, which includes the creation of new classes of preferred shares and a debt-for-equity exchange.

In accordance with ASC 855-10 Company management reviewed all material events through the date of this report.

Unless otherwise noted, references in this Form 10-Q to “RCI”, “we”, “us”, “our”, and the “Company” means Revolutionary Concepts, Inc., a Nevada corporation.

Revolutionary Concepts Inc 10-Q