OTC Markets Upgrades RLTR to Highest Designation of Providing Current Information Meeting Upcoming Amended SEC Rule15c2-11 Guidelines
Reeltime Rentals (OTC:RLTR) has been upgraded to the PINK 'Current Information' segment by OTC Markets, the highest rating in the PINK tier, ensuring compliance with the new SEC Rule 15c2-11, effective September 28, 2021. This designation signifies Reeltime's commitment to transparency and enhanced disclosure, meeting the requirements for financial reporting and attorney verification. The company's advancement positions it favorably as it seeks to transition to the NASDAQ Capital Market, with an application logged for the ticker symbol RT. This upgrade reflects the company's growth and commitment to investor relations.
- OTC Markets upgraded RLTR to 'Current Information,' enhancing its visibility to investors.
- Compliance with SEC Rule 15c2-11 underscores financial transparency.
- The company is progressing towards a NASDAQ listing, which can attract more institutional investors.
- Recent financials show Q1 revenues up by 10 times compared to Q1 2020, exceeding $1.3 million.
- None.
SEATTLE, WA / ACCESSWIRE / August 5, 2021 / Reeltime Rentals, Inc./ (OTC PINK:RLTR) has been upgraded by OTC Markets to PINK 'Current Information' the highest of all PINK designations meeting the much stricter upcoming implementation of amended SEC Rule 15c2-11.
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.
The upcoming implementation of amended SEC Rule 15c2-11 will require that all companies quoted on OTC Markets must disclose current information on a continuous basis, effective September 28, 2021. Pink companies will need to update their disclosure to ensure they comply with the new requirements. Alternative Reporting Companies: OTC Markets has updated the Disclosure Guidelines for Alternative Reporting Companies to include all the information required under amended Rule 15c2-11. Companies must follow the Guidelines to be designated 'Current Information' or 'Limited Information' to remain publicly quoted.
Reeltime Rentals has now been upgraded to 'Current Information' the highest of all designations on the OTC Markets 'PINK' tier. To qualify for Current Information, a non-reporting Pink company must 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 only 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: 'Now that the OTC Markets has upgraded RLTR to its highest segmentation under the PINK tier 'Current Information' and we have met the new SEC guidelines for the upcoming Rule 15c2-11, we will continue to be transparent and openly communicate our progress and the exciting plans we have in place to further grow the Company. This is a very important and exciting time for ReelTime Rentals and our Company's future.'
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. Investors are strongly advised by OTC Markets to proceed with caution and thoroughly research companies before making any investment decisions.
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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 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.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
SOURCE: Reeltime Rentals, Inc.
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FAQ
What does it mean for RLTR to be upgraded to 'Current Information'?
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