Reeltime Rentals Inc logo

RLTR - Reeltime Rentals Inc News Story

$0.177 -0.0  -6.2%

Last Trade - 16/04/21

Sector
Consumer Cyclicals
Size
Market Cap £622k
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 6851

ReelTime Grants Global Exclusive Perpetual Technology License to Baristas Munchie Magic Securing Ongoing Revenues

Wed 13th January, 2021 2:59pm
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20210113:nGNX4vNcjS&default-theme=true


Seattle, WA, Jan. 13, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire
(https://www.globenewswire.com/Tracker?data=ALOnikWkRFEK2cwpkIZ0a9YjTR7K_fNxidXODDEImGW9M5r3X90twRu5rni-4LeQVhLk23fgJ2cLOe1qRsiSsQKprFWgcpmOkGZKBYAyDWY=) --
ReelTime Media (OTC:RLTR) has 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. www.baristas.tv  www.munchiemagic.com  in WA State and has now
expanded into Oregon and California as well.   

Barry Henthorn, CEO, stated: "ReelTime has built a scalable foundation that
can facilitate the expansion of the Munchie Magic concept and beyond. Having
secured a per transaction fee gives ReelTime a stake in the success that
Munchie Magic is experiencing while giving them the confidence that we will
remain an active partner. It aligns both companies to support and grow the
businesses in tandem."

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’s 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
NASDAQ. 

In other news:

ReelTime has entered into a formal binding letter of agreement whereas it will
acquire 100 percent of NWBB, Inc. a 20-year-old media company and its
subsidiary Discount Ad Brokers. The acquisition is valued at 12 million
dollars and is expected to formally close by the end of the year whereas the
financials will be consolidated with ReelTime’s. 

ReelTimes VR capabilities which were showcased in Inc. Magazines' March
24th issue solve the monetization problem of high production cost in
relationship to the size of the potential audience that has thwarted VR
content creation. Using ReelTime process and Ubiquiview technology, content
can be shot in VR yet made available to major networks and other flat content
portals as well. By expanding the number of potential viewers from only those
with a VR headset to nearly all widely used formats, traditional monetization
via product placement, embedded advertising, pre, and post-roll sponsorships,
etc. become possible.

Last month ReelTime VR topped the list published in Virtual Reality Insider
of three unknown public companies set to drive the explosion of the AR/VR
worlds as access and adoption/adaptation become commonplace. The full article
can be seen at www.virtualrealityinsider.com . The article makes special
mention of the potentially industry-shaping significance of ReelTime’s
patent Number 10,761,303 that was just issued by the USPTO on September 1,
2020. The patent covering apparatus and method claims for technology involving
simultaneous capturing of 360 X 360 degree Spherical Panorama Images and
Video.

Earlier this year ReelTime VR appeared in TIME Magazine where it was singled
out as companies "Among those most likely to gain from the growing virtual
reality market" and where it cited  ReelTime’s "In Front of View" as "The
World's No. 1 VR Travel Show".

About NASDAQ Capital Markets: Nasdaq is a global technology company serving
the capital markets and other industries. Our 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
tiers.

About ReelTime Rentals, Inc. d/b/a ReelTime Media: www.reeltime.com, 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 is 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, www.itwasalwaysme.com.

Barry Henthorn

ceo@reeltime.com

(https://www.globenewswire.com/NewsRoom/AttachmentNg/26a9696f-bd7c-4054-9ba3-ca939248eb58)



GlobeNewswire, Inc. 2021
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.