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RLTR - Reeltime Rentals Inc News Story

$0.27 0.1  74.2%

Last Trade - 22/04/21

Sector
Consumer Cyclicals
Size
Market Cap £505k
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 6851

ReelTime to Acquire 15 Year-old Discount Media Powerhouse Discount Ad Brokers, Gaining Millions in Revenue, Longstanding Marquis Clients, and over 2 Million in Prime Media Inventory -- Marks Major Progress Towards NASDAQ Qualifications

Thu 10th December, 2020 2:53pm
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Seattle, WA, Dec. 10, 2020 (GLOBE NEWSWIRE) --  via NewMediaWire
(https://www.globenewswire.com/Tracker?data=KATr7EO8JmuYfTj-2PoiTBDxJ0u8os93zwhfMlpHeyzhjIFkYe3ztr2QkoE5ydNYZh_SGqJYzC-k54tRcWIPZZbCzgmhSJDHnOw5S7clDs0=) -- ReelTime
VR/ReelTime Media (OTC: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 focuses on providing clients top tier placements at
pricing levels at or below remnant inventory rate structures through a unique
inventory acquisition model utilizing contracted capacity buys and aggressive
bulk inventory based contracts with major US media properties The acquisition
valued at 2.7 million dollars is being completed without the use of toxic debt
instruments and is expected to formally close by the end of the year whereas
the financials will be consolidated with ReelTimes. 

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 have 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, 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. 

Barry Henthorn, CEO, stated: "This initial acquisition has been in the works
for some time and represents a major step towards building our company and in
meeting the requirements in order to be listed on the NADSAQ Capital Markets.
The companies have worked closely together for many years but bringing them
together under the ReelTime umbrella is undoubtedly a game-changing event."

Marc Hatch, President of Discount Ad Brokers, exclaimed: "ReelTime’s cutting
edge production capabilities and strong attention to technological advantages
will allow Discount Ad Brokers to grow in ways it simply would not be able to
without this merger. Both Discount Ad Brokers' parent company NWBB Inc. and
I personally have been long term investors in RLTR, and now more than ever I
am committed to its future and will continue to be among its most prolific and
strongest supporters." 

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 the 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’s VR capabilities which were showcased in Inc. Magazines' March
24th issue solves 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.

Earlier 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.

Contact:

Barry Henthorn
ceo@reeltime.com

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



GlobeNewswire, Inc. 2020
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