Baristas Submits Annual Report to OTC Markets for Review - Gets Closer to Upgrade

Rhea-AI Summary

Baristas Coffee Company (OTC PINK:BCCI) has filed its 2020 Annual Report to OTC Markets as part of its plan to upgrade its market designation. The company aims to submit its Q1 2021 report shortly, which will be reviewed for compliance with OTC guidelines. Notably, Baristas reported that its White Coffee single-serve pods have surpassed total sales for 2020 on Amazon. Additionally, their virtual restaurant, Munchie Magic, has recently achieved record sales, including hard alcohol delivery in states where permitted. The company works in partnership with ReelTime Media (OTC PINK:RLTR) for innovation in their business model.

Positive

• Completed filing of 2020 Annual Report to OTC Markets, moving towards upgrade.
• White Coffee single-serve pods surpassed total 2020 sales on Amazon.
• Munchie Magic experienced record sales weeks since the introduction of alcohol delivery.

Negative

• None.

SEATTLE, WA / ACCESSWIRE / June 24, 2021 / Baristas Coffee Company (OTC PINK:BCCI) has completed and filed to OTC Markets its 2020 Annual Report pursuant to basic disclosure guidelines. 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.

To meet the criteria to upgrade to the highest designation in its tier Baristas must now only file its Q1 2021. All filings will then be reviewed by council and if accepted an "Attorney Letter with Respect to Current Information" will be submitted which if accepted by OTC Markets will likely allow the upgrade to occur.

All recently filed financials 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 "We are very near to the finish line in this critical step in the Company's evolution and migration to a higher standard of disclosure. We expect to complete the final set of financials shortly and are looking forward to Baristas being upgraded shortly afterwards. Thank you to our team for their relentless pursuit of excellence and adherence to the strictest possible guidelines."

This marks the third 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 Inc.

View source version on accesswire.com:
https://www.accesswire.com/652965/Baristas-Submits-Annual-Report-to-OTC-Markets-for-Review--Gets-Closer-to-Upgrade

FAQ

What is the significance of Baristas Coffee Company's recent annual report filing?

Baristas filed its 2020 Annual Report to meet requirements for upgrading its designation on the OTC Markets.

How have Baristas' White Coffee single-serve pods performed in recent sales?

Sales of Baristas' White Coffee single-serve pods have exceeded total sales for 2020 on Amazon.

What recent developments have occurred with Munchie Magic's operations?

Munchie Magic has achieved back-to-back record sales, particularly after adding hard alcohol to its delivery menu.

What company is partnering with Baristas Coffee Company for its Munchie Magic concept?

Baristas is collaborating with ReelTime Media (OTC PINK:RLTR) to enhance its Munchie Magic virtual restaurant business.