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RLTR - Reeltime Rentals Inc News Story

$0.2 0.0  2.4%

Last Trade - 09/04/21

Consumer Cyclicals
Market Cap £661k
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 6827

ReelTime Engages Pinnacle Accountancy Group of Utah to Complete NASDAQ Listing Requirement of Independently Audited Financials

Thu 28th January, 2021 1:30pm
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Seattle, WA, Jan. 28, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire
-- ReelTime VR/ReelTime Media (OTC:RLTR): ReelTime has engaged Pinnacle
Accountancy Group of Utah (“Pinnacle” a dba of the PCAOB-registered audit
firm Heaton & Company, PLLC) to perform an independent audit of the
Company’s financial statements.

The audit will be performed according to the guidelines set forth by the
NASDAQ Listing Requirements and the Public Company Accounting Oversight Board
auditing standards. Pinnacle is one of the leading firms in and throughout the
United States and abroad. Its partners and staff have provided audit services
for SEC registrants since 2001 and are highly experienced dealing with the
complex auditing and accounting challenges facing public companies.

Barry Henthorn CEO stated: "We have put forth significant effort to be able to
take this next critical step towards meeting the NASDAQ listing requirements.
We are very confident in the experience, reputation, and capabilities of
Pinnacle. We look forward to having audited financials that not only meet the
listing requirements but will give our investors additional confidence as

ReelTime has formally submitted an application as a Seasoned Company Seeking
to Transfer Equity and/or Debt Securities from Another U.S. Exchange to be
listed on the NASDAQ Capital Market Exchange. The application has been logged
in the NASDAQ Listing Center, all applicable fees have been paid, and a
listing analyst has been assigned to ReelTime to assist throughout the
process. In addition, the request for a new symbol (NASDAQ:RT) to be reserved
for ReelTime to trade under once the Company has met all quantitative and
qualitative criteria, including certain corporate governance requirements has
been approved. ReelTime will continue to submit additional information and
documentation as it is required based on comments from its assigned Listing
Analyst and others at NASDAQ who will be assisting ReelTime, assuring that
they satisfy all the required qualifications for NASDAQ Capital Markets
securities in Rule 4300 and or any other applicable regulatory requirements.
ReelTime will also need to adhere to the corporate governance standards set by
NASDAQ. In addition, ReelTime must comply with NASDAQ’s requirements
relating to audit committees, the director nomination process, the
compensation of officers, board composition, executive sessions, quorum, and
code of conduct among others.

ReelTime will continue to trade on the OTC Markets under the symbol (OTC:RLTR)
throughout the process and up until the move to the NASDAQ Capital Market
becomes effective at which time the ticker symbol will become (NASDAQ:RT).

The NASDAQ Capital Market provides companies the required capital in order to
grow their business. The NASDAQ Capital Market also provides a listing venue
that promises to accommodate the different stages of corporate lives of the
companies. All companies that are listed on NASDAQ Capital Market need to
satisfy all the required qualifications for NASDAQ securities in Rule 4300.
The companies also need to adhere to the corporate governance standards set by

Other recent news:

ReelTime Media reached a technology/software license and development agreement
with Baristas (OTC:BCCI) "Munchie Magic". The licensing agreement secures
Munchie Magic global perpetual exclusive access to use the technology and
methodologies developed by ReelTime that allow the virtual restaurants to
integrate with its partners, onboarding, marketing, and administrative
functions for use with the Munchie Magic Virtual Restaurant or other
convenience store delivery concepts. The agreement also allows for Munchie
Magic to develop in concert with ReelTime or independently, derivatives and/or
stand-alone methodologies. In exchange for the global perpetual exclusive
license from ReelTime for the Munchie Magic concept and convenience store
derivative Virtual Restaurants, ReelTime will receive a per transaction
license fee of $.35 in perpetuity in conjunction with the terms of the
agreement beginning on Jan. 1st, 2021. Baristas "Munchie Magic" has opened
more than 50 locations in the past nine months delivering Ben & Jerry’s ice
cream, snacks, and hot foods to customers via delivery partners DoorDash,
GrubHub, and Uber Eats. in WA State and
has now expanded into Oregon, California, Illinois, and Arizona as well.

ReelTime VR/ReelTime Media (OTC Pink: RLTR) has entered into a formal binding
letter of agreement where it will acquire 100 percent ownership of Discount Ad
Brokers, a 15 year old media company operating within a unique niche of the
advertising industry. Discount Ad Brokers will maintain the majority of its
current staff with operations expected to move from their current location in
Washougal, Washington and be consolidated into ReelTime's location during 2021
where it will merge with the ReelTime sales, support and production staff to
increase sales and overall capabilities by bringing the companies together.
Discount Ad Brokers has consistently been the agency of choice for discount
media placements for notable marquis clients such as Hooters, Hard Rock
Resorts International, Toys for Tots, Tony Robins, Glucose Health, SeaWorld,
and numerous national brands within the hospitality, finance and As Seen On TV
sectors generating over 30 million dollars in revenues from these accounts of
which will be maintained in accordance with the agreement. Annual gross
billings have averaged over $20 million per year over the last 3 years
resulting in net placement revenues averaging $2.6 million per year. Net
revenues have historically risen from, $4.2 million in 2018, to $5.1 million
in 2019, yet are expected to be reduced to just over $1 million in 2020 due to
an elimination of ads from restaurant and travel clients that have
historically been a large percentage of the company’s mainstay business.
This has begun to shift and is intended to exceed past performance once
restrictions on travel and dining are lifted as is expected early in 2021.
There is a pent-up demand for travel and restaurant advertising driven from
both an industry and a consumer demand standpoint.

ReelTime VR (OTC PINK:RLTR) confirmed that the patent application number
15/654,613, titled Simultaneous Spherical Panorama Image and Video Capturing
System, has officially been issued as U.S. Patent Number 10,761,303 September
1, 2020.The term of the patent is 20 years and 247 days from the earliest
filing date of the patent application, calculated to be March 23, 2038.
Although the original technology allows any cell phone or other camera to
instantaneously capture 360 X 360 Virtual Reality Video or pictures without
any need for stitching, the patent provides protection from infringement from
any capturing of a plurality of images utilizing at least one mirror. This
spans a wide range of industries and uses. 

About Pinnacle Accountancy Group of Utah: Pinnacle Accountancy Group of Utah
(a dba of Heaton & Company, PLLC) is a Certified Public Accounting firm
providing a wide range of business advisory and compliance services including
financial statement audit, review/preparation services, tax compliance &
advisory services, and business advisory services. Its financial statement
audit experience is vast and includes public and private companies in a
variety of industries, not-for-profit entities, and financial institutions
such as credit unions and mortgage companies. Its partners and staff have
provided audit services for SEC registrants since 2001 and are highly
experienced dealing with the complex auditing and accounting standards of
public companies. Additionally, its tax services experience includes a broad
range of industries with real estate development, construction, high-tech and
manufacturing at the core.

About NASDAQ Capital Markets: Nasdaq is a global technology company serving
the capital markets and other industries. Its diverse offering of data,
analytics, software and services enables clients to optimize and execute their
business vision with confidence. A diverse selection of over 4,000 companies
choose to list on Nasdaq’s U.S., Nordic and Baltic exchanges, representing
industries such as retail, health care, finance, and technology. In the U.S.,
Nasdaq is the listing venue of choice for many of the world’s most exciting
companies. The Nasdaq Stock Market has three distinctive tiers: The Nasdaq
Global Select Market®, The Nasdaq Global Market® and The Nasdaq Capital
Market®. Applicants must satisfy certain financial, liquidity and corporate
governance requirements to be approved for listing on any of these market

About ReelTime Rentals, Inc. d/b/a ReelTime Media:, is a
publicly-traded company based in Seattle, WA (OTCPK:RLTR). ReelTime Media
provides end to end production capabilities and discount media purchasing that
is redefining how companies are evaluating and purchasing their TV, radio,
print, and other new media. ReelTime is also in the business of developing,
producing, and distributing Virtual Reality Content and technologies. We have
an end to end production, editing, and distribution capabilities for internal
and external projects. ReelTime currently produces three ongoing series for
the Samsung Gear VR platform and distributes them over numerous VR delivery
portals including Gear VR, Oculus, Veer VR, HTC Vive, YouTube 360, Facebook,
and others. ReelTime Media also publishes the book "It Was Always Me! Edward
Edwards the Most Prolific Serial Killer of All Time" which has been the
subject of a cover story on People Magazine, Rolling Stone, In Touch, and a
six-part series on Paramount network,


Barry Henthorn


GlobeNewswire, Inc. 2021
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