Republican Presidential nominee Mitt Romney conceded the 2012 Presidential election to his opponent, incumbent Democratic President Barack Obama, at 1 am eastern time early Wednesday morning. 

Speaking to a large but dispirited crowd at the Boston Convention and Exhibition Center, Romney began his speech on a gracious note:

"Thank you, my friends. Thank you so very much."

"I have just called President Obama to congratulate him on his victory."

With only the state of Florida's 29 electoral college votes undecided, President Obama held an insurmountable 303 to 200 electoral college lead over Governor Romney.