Baristas Files Additional Financial Disclosure Statement Critical to Upgrading OTC Markets Designation

Rhea-AI Summary

Baristas Coffee Company (OTC PINK:BCCI) has filed updated financials on OTC Markets to enhance transparency and meet criteria for a higher designation. This is part of a series of filings aimed at upgrading its status within a week. Additionally, Baristas reported record sales for its White Coffee pods on Amazon, surpassing 2020 figures, and noted strong performance from its virtual restaurant Munchie Magic, which has introduced alcohol delivery. Baristas aims to solidify its market presence and shareholder trust through these strategic moves.

Positive

• Updated financials improve transparency and are aimed at upgrading OTC Markets designation.
• Sales of White Coffee pods have exceeded 2020 totals on Amazon, indicating strong market demand.
• Munchie Magic's introduction of alcohol delivery has led to record sales weeks since launch.

Negative

• None.

SEATTLE, WA / ACCESSWIRE / June 23, 2021 / Baristas Coffee Company (OTC PINK:BCCI) has filed additional updated financials on OTC Markets www.otcmarkets.com . The latest filing is critical in a series of filings that the company has begun filing as it prepares to upgrade its designation on the OTC Markets.

The financials filed yesterday incorporate an enhanced level of disclosure that is intended to meet the criteria of the highest levels of the OTC Markets and beyond. The Company expects to have completed all its filings to allow it to be upgraded within the next week or so.

Barry Henthorn stated "This latest filing provides our shareholders with an enhanced level of transparency that we believe is consistent with the criteria of the highest levels of disclosure statements required by OTC Markets. This latest filing brings us one step closer to achieving our goal of upgrading BCCI's OTC Markets designation."

This marks the second significant recent financial filing posted by BCCI having filed the first of a series of filings that the company has been preparing to upgrade its designation to be upgraded by OTC Markets to the highest level in our tier on June 16,2021.

In other News:

Baristas reported that sales its White Coffee single serve pods compatible with the Keurig 2.0 brewing system have exceeded 2020 total sales on Amazon passing previous record levels. http://www.trywhitecoffee.com/ https://www.youtube.com/watch?v=9SZ-emM3aDc.

Baristas Munchie Magic, its virtual restaurant delivering Ben and Jerrys' Ice cream, other snacks, Beer, wine, and hard alcohol has seen back-to-back record sales weeks since it began delivering hard alcohol, beer, and wine as regular items on their menus in states that permit delivery of alcohol.

Delivery of beer and wine has been available on a limited basis in Washington on the Munchie Magic menus via DoorDash on a trial basis. Based on that success Munchie Magic began delivering hard alcohol in Washington from its Pick up Partners who carry it through DoorDash. Adult beverages are now becoming a standard item on Munchie Magics' Menus in all states where permitted.

In exchange for the global perpetual exclusive license from ReelTime for the Munchie Magic concept and convenience store derivative Virtual Restaurants, ReelTime receives a per transaction license fee of $.35 in perpetuity in conjunction with the terms of the agreement beginning on Jan. 1st, 2021. In addition, the media buys, integration, technology development, IP, and other cutting edge marketing for the Munchie Magic virtual restaurants are made possible and are being created via digital media/technology frontrunner ReelTime Media (OTC PINK:RLTR) www.reeltime.com . The integration consolidates and analyses data from the delivery partners DoorDash, Uber Eats, and GrubHub along with sales, cost information, and pertinent demographics from Munchie Magic's Pick up Partners. ReelTime Media's capabilities are redefining how companies are evaluating and purchasing their TV, radio, print, and other new digital media.

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 was officially issued U.S. Patent Number 10,761,303 titled Simultaneous Spherical Panorama Image and Video Capturing System on September 1, 2020. 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. ReelTime also develops and licenses Virtual commerce technologies.

About Baristas Coffee Company/ Munchie Magic: Baristas is a publicly-traded national Coffee Company that is recognized throughout the US. It is the majority shareholder of Munchie Magic, Inc., which manages the virtual restaurant which delivers Ben & Jerry's ice cream, Baristas Coffee, and other snack foods via third party delivery partners. Baristas currently produces and sells coffee related products under the Baristas brand. The Baristas White Coffee single-serve cups compatible with the Keurig 2.0 brewing system is the bestselling product in its category. Baristas also markets other coffee-related products. Baristas gained mainstream exposure when it became the subject of 'Grounded in Seattle', the reality show special feature which aired on WE tv. It has been featured nationally including during Shark Tank on CNBC with Front Montgomery, CNN, ESPN, Food Network, Cosmopolitan Magazine, Forbes Magazine, Modern Living with Kathy Ireland, Sports Illustrated, NFL Monday and Thursday Night Football with Megs McLean, at NASCAR Races, The Grammys, NBA TV, and other notable media.

CONTACT:

Barry Henthorn
barry@baristas.tv

SOURCE: Baristas Coffee Company

View source version on accesswire.com:
https://www.accesswire.com/652823/Baristas-Files-Additional-Financial-Disclosure-Statement-Critical-to-Upgrading-OTC-Markets-Designation

FAQ

What are Baristas Coffee Company's recent financial updates regarding the OTC Markets designation?

Baristas Coffee Company filed updated financials to enhance transparency and meet criteria for a higher designation on OTC Markets.

How have Baristas Coffee Company's sales performed on Amazon?

Sales of Baristas' White Coffee single-serve pods have exceeded total sales of 2020 on Amazon, reaching record levels.

What is Munchie Magic's recent sales performance?

Munchie Magic has experienced back-to-back record sales weeks since it started delivering alcohol.

When does Baristas Coffee Company expect to upgrade its OTC Markets designation?

Baristas expects to complete its filings for the OTC Markets upgrade within the next week.

What significant filing did Baristas Coffee Company make on June 23, 2021?

On June 23, 2021, Baristas filed additional financial disclosures as part of its strategy to upgrade its OTC Markets designation.