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 for Newly
Approved
Reservation
of
Rare Two Letter
Ticker Symbol "RT"
December 10, 2020
-- InvestorsHub NewsWire -- ReelTime VR/ReelTime Media (OTC:RLTR)
ReelTime
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
expeted
to move
from their
current location in Washougal, Washington
and be consoloidated
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 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
companies 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 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: "ReelTimes 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 myself
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
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:
ReelTimes
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 ReelTimes
"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
Reeltime Rentals (PK) (USOTC:RLTR)
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