ReelTime Launches Massive Debt Restructuring Initiative to Dramatically Reduce Potential Dilution and Debt to Meet NASDAQ Listing Requirements – Receives Majority Debt Holders Approval

ReelTime Launches Massive Debt Restructuring Initiative to Dramatically Reduce Potential Dilution and Debt to Meet NASDAQ Listing Requirements – Receives Majority Debt Holders Approval

SEATTLE, WA / ACCESSWIRE / March 10, 2021 / ReelTime VR / ReelTime Media (OTC PINK: RLTR): Announced that it has launched a debt restructuring initiative resulting in a dramatic reduction in the potential dilution of convertible notes.

Although currently all convertible notes contain a provision that the notes may not be converted at any time, which would result in a note holder owning more than 4.99% of the issued and outstanding shares, if all the notes had to be converted at their face value, the number of shares would exceed the authorized amount. The restructuring plan uses a combination of full repayment of certain notes and a significantly renegotiated conversion price of all of the notes with an expected effect of:

Potential dilution is expected to be reduced from nearly 3 billion shares to less than 100 million.

All Notes will have strict guidelines restricting any conversions before the RLTR becomes fully reportable and traded on NASDAQ Capital Markets.

The restructuring is expected to be largely completed within the next two weeks and should be reflected in future financial reports. RLTR has received the approval of the noteholders representing the majority of the finance debt to be restructured and / or has planned to repay the remaining notes.

Barry Henthorn CEO said: “Debt restructuring has been going on for some time. This is not only an overwhelmingly positive move for shareholders, but it will significantly help RLTRs meet the listing requirements set out by the NASDAQ. is one of the most important and potentially impactful developments from a corporate structure perspective to date. Personally, as one of the largest holders or persons in control of debt, I fully support this initiative and fully expect it to increase shareholder value in the short and long term. ”

ReelTime has officially submitted an application as a seasoned company seeking to transfer stocks and / or debt securities from another US stock exchange in order to be listed on the NASDAQ Capital Market Exchange. The app has been registered in the NASDAQ Listing Center, all applicable fees have been paid, and an SEO analyst has been assigned to ReelTime to help with 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 materials as needed based on feedback from its assigned quote analyst and other persons at NASDAQ who will attend ReelTime, ensuring that they meet all of the qualifications required for them. NASDAQ Capital Markets securities under Rule 4300 and / or any other applicable regulatory requirements. ReelTime will also need to adhere to corporate governance standards set by NASDAQ. In addition, ReelTime must comply with NASDAQ requirements regarding audit committees, the process for appointing directors, executive compensation, composition of the board of directors, executive sessions, quorum and code of conduct, among others.

ReelTime will continue to trade on the OTC markets under the ticker symbol (OTC: RLTR) throughout the process and until the switch to the NASDAQ Capital Market becomes effective, at which point the ticker symbol will change to (NASDAQ: RT).

The NASDAQ Capital Market provides companies with the capital they need to grow their businesses. The NASDAQ Capital Market also provides a listing venue that promises to adapt to different stages of business life. All companies listed on the NASDAQ Capital Market must meet all of the qualifications required for NASDAQ securities in Rule 4300. Companies must also adhere to the corporate governance standards set by the NASDAQ.

Other recent news:

ReelTimes Discount Ad Brokers (DAB), a 15-year-old discount media company that ReelTime acquired on January 1, 2021, reported approximately $ 364,702.17 in February revenue from media placements on TV, radio and other media run by clients in the travel and hospitality industry. . ReelTime also announces that final ATM revenue figures in January 2021, previously reported at $ 249,873 from travel industry-specific media placements, amounted to $ 314,741.71 in total revenue from all sources. . These do not include the income of parent company ReelTime Rentals, Inc. whose financial data is available on and will be consolidated in future reports.

ReelTime engaged Pinnacle Accountancy Group of Utah (“Pinnacle” a dba of the auditing firm registered at PCAOB Heaton & Company, PLLC) to perform an independent audit of the financial statements of the company. The audit will be conducted in accordance with the guidelines set forth by NASDAQ Registration Requirements and Public Company Accounting Oversight Board Auditing Standards. Pinnacle is one of the leading companies in the United States and abroad. Its partners and staff have been providing auditing services to SEC registrants since 2001 and are very experienced in handling the complex auditing and accounting challenges facing public companies.

ReelTime Media has entered into a Technology / Software and Development License Agreement with Baristas (OTC: BCCI) “Munchie Magic”. The license agreement grants Munchie Magic perpetual worldwide exclusive access to the use of technology and methodologies developed by ReelTime that allow virtual restaurants to integrate with its partners, as well as integration functions, marketing and administration for use with Munchie Magic Virtual Restaurant or other convenience store delivery services. Notions. The agreement also allows Munchie Magic to develop, in conjunction with ReelTime or independently, derived and / or stand-alone methodologies. In return for ReelTime’s exclusive worldwide perpetual license for the Munchie Magic concept and convenience store-derived virtual restaurants, ReelTime will receive a per-transaction license fee of $ 0.35 in perpetuity under the terms of the agreement starting January 1. 2021. Baristas “Munchie Magic” has opened more than 50 locations in the past nine months, delivering Ben & Jerry’s ice cream, snacks and hot meals to customers through delivery partners DoorDash, GrubHub and Uber Eats. in the state of WA and has now expanded to Oregon, California, Illinois and Arizona.

ReelTime VR (OTC PINK: RLTR) has confirmed that patent application number 15 / 654,613, titled Simultaneous Spherical Panoramic Image and Video Capture System, was officially published as U.S. Patent No. 10,761,303 on the 1st. September 2020. The term of the patent is 20 years. and 247 days from the first filing date of the patent application, calculated as March 23, 2038. Although the original technology allows any cell phone or other camera to instantly capture video or 360 X 360 virtual reality images without the need for stitching, the patent provides protection against counterfeiting of any capture of a plurality of images using at least one mirror. It covers 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 the US, Nordic and Baltic Nasdaq stock exchanges, representing sectors such as retail, healthcare, finance and technology. In the United States, the Nasdaq is the listing venue of choice for many of the world’s most interesting companies. The Nasdaq Stock Market has three distinct levels: the Nasdaq Global Select Market®, the Nasdaq Global Market® and the Nasdaq Capital Market®. Applicants must meet certain financial, liquidity and corporate governance requirements to be permitted to be listed on any of these market levels.

About ReelTime Rentals, Inc. d / b / a ReelTime, is a publicly traded company based in Seattle, WA (OTCPK: RLTR). ReelTime Media provides end-to-end production capabilities and discounted media buying that redefines the way businesses price and buy their TV, radio, print and other new media. ReelTime is also dedicated to the development, production and distribution of virtual reality content and technologies. We have end-to-end production, editing and distribution capabilities for internal and external projects. ReelTime is currently producing three ongoing series for the Samsung Gear VR platform and distributing them on numerous VR streaming 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 was featured on People Magazine, Rolling Stone, In Touch and of a six-part series on Paramount Network,


Barry henthorn
[email protected]

THE SOURCE: ReelTime Rentals Inc.

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