ReelTime
Reduces
Dilution by 20 Million Arising from Negotiated Settlement in Their
Favor
SEATTLE, WA
/ May
26,
2021 / ReelTime
VR/ReelTime Media (OTC:RLTR) has reduced the potential
dilution by 20 million shares as a result of a successful
negotiated settlement with one of its strongest
supporters.
The agreement entered into
on July
15th
2018 provided for
25 million shares to be issued over five years has been
renegotiated to provide a total of 5 million shares. This reduces
the previously obligated dilution by 20 million shares. The shares
have been earned but not issued as of 5-26-2021 and will be
reflected in the Companies upcoming filings.
The negotiated settlement
coincides with ReelTimes debt restructuring initiative to
dramatically reduce the potential dilution and debt as it continues
to prepare to up list to the NASDAQ Capital Markets.
Barry Henthorn CEO commented
"We
are incredibly pleased
to have been
successful in reaching an agreement that reduces the potential
dilution by 20 million shares. We are in the process of
reaching other additional arrangements with several our investors
to
further reduce
the potential dilution and to reduce the debts on the company's
books. As I have stated
previously, personally,
as one of the largest holders or control persons of the debt I
completely support this initiative and fully expect it to increase
shareholder value in both the short and long term."
Other
recent news:
ReelTime
Acquires 100% of LoudMouth Media from CBMJ – Expanding Scope and
Distribution
ReelTime
TV Channels Adding 40 million Apple TV Users to Potentially Reach
Over 140 Million Monthly Active Users
ReelTime
TV Channels Adding 50 Million Amazon Fire TV Users to Roku's 51.2
Million Monthly Active Users, Exceeding Cable, Satellite Potential
Reach Combined
ReelTime
to Launch Roku Channel ReelTime TV to 51.2 Million Monthly Active
Users, Expanding Content Distribution and Advertising Revenues
Using Technology
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 NASDAQ.
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.
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. www.baristas.tv www.munchiemagic.com in
WA State and has now expanded into Oregon, California, Illinois,
and Arizona as well.
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
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 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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