OTC Markets Upgrades Baristas to Second Highest Designation Amidst Filing Q1 2021 Financial Disclosure Statement

Rhea-AI Summary

Baristas Coffee Company (OTC PINK:BCCI) has been upgraded to "Limited Information" by OTC Markets, one step below the highest designation of "Current Information." This upgrade follows the completion and filing of its Q1 2021 Quarterly Report, fulfilling OTC Markets' basic disclosure guidelines. Baristas has reported exceeding 2020 sales records for its White Coffee pods on Amazon and back-to-back record sales weeks for its Munchie Magic virtual restaurant, which now offers alcohol deliveries. An attorney letter is expected to further upgrade BCCI’s market status.

Positive

• Upgrade to 'Limited Information' by OTC Markets.
• Exceeded 2020 sales for White Coffee pods on Amazon.
• Record sales for Munchie Magic following the introduction of alcohol deliveries.

Negative

• None.

SEATTLE, WA / ACCESSWIRE / June 30, 2021 / Baristas Coffee Company/ (OTC PINK:BCCI) has been upgraded by OTC Markets to "Limited Information" which is one tier below "Current Information" the highest of all designations.

OTC Markets Group segments Pink companies based on the information they provide to investors into Current, Limited or No Information. The Pink Market is for professional and sophisticated investors with a high risk-tolerance for trading companies with limited information available and limited regulatory oversight. Investors are strongly advised to proceed with caution and thoroughly research companies before making any investment decisions.

Baristas has now completed and filed to OTC Markets its Q1 2021 Quarterly Report pursuant to basic disclosure guidelines. www.otcmarkets.com. The latest filing is the final financial report required to upgrade its designation to "Current Information" the highest of all designations on the OTC Markets "PINK" tier. To qualify for Current Information, a non-reporting Pink company may subscribe to the OTC Disclosure & News Service and publish current information pursuant to OTC Markets' Pink Basic Disclosure Guidelines. All current information is made publicly available on www.otcmarkets.com. More information on each of these steps is available as noted below:

Companies will be processed for "Current Information" once all required documentation has been submitted:

• Financial Statements: Two most recent Annual reports and any subsequent Quarterly Report
• Disclosure Statement: Most recent Annual and any subsequent Quarterly Reports
• Attorney Letter covering all relevant information for non-audited companies
• The Company Profile has been verified through OTCIQ

Barry Henthorn stated "We are pleased that Baristas has been upgraded and that we have been able to complete and file all of our Financial and Disclosure reports required to gain the OTC Markets highest designation under the PINK tier. We will now await review by council and anticipate an Attorney Letter covering all relevant information to be filed shortly. At that time OTC Markets will determine if the information submitted meets all requirements to upgrade BCCI to its highest segmentation under the PINK tier of "Current Information."

All filings will now 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 additional 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.

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/653707/OTC-Markets-Upgrades-Baristas-to-Second-Highest-Designation-Amidst-Filing-Q1-2021-Financial-Disclosure-Statement

FAQ

What does it mean that Baristas Coffee Company was upgraded to 'Limited Information'?

The upgrade to 'Limited Information' indicates that Baristas has met certain disclosure requirements but is still below the highest 'Current Information' designation.

How have Baristas Coffee Company's sales changed recently?

Baristas reported that sales of its White Coffee single-serve pods on Amazon have exceeded total 2020 sales and that its Munchie Magic virtual restaurant has achieved record sales.

What steps must Baristas take to achieve the 'Current Information' designation?

Baristas needs to submit an attorney letter and ensure all financial and disclosure documents meet OTC Markets' requirements for the 'Current Information' designation.

What recent developments has Baristas Coffee Company announced?

Baristas announced record sales for its Munchie Magic virtual restaurant, particularly after adding alcohol deliveries to its offerings.

What is the significance of the attorney letter for Baristas Coffee Company's stock?

The attorney letter is crucial for Baristas as it may facilitate an upgrade to the 'Current Information' designation, enhancing transparency for investors.