ReelTime’s Discount Ad Brokers Generates Nearly $250,000 in Booked Revenue in January as Resort Media Bookings Begin to Return on Optimism of a Post Vaccine Travel Surge

Rhea-AI Summary

ReelTime VR/ReelTime Media (OTC:RLTR) reported January revenue of $249,873 from its Discount Ad Brokers (DAB) segment, acquired on January 1, 2021. DAB has historically generated over $20 million in annual gross billings, with net revenues averaging $2.6 million. Despite a drop in 2020 to $1 million due to pandemic impacts, a rebound is anticipated as travel and dining restrictions ease. The company awaits NASDAQ Capital Market listing, having submitted its application and reserved the ticker symbol 'RT'. Additionally, ReelTime engaged Pinnacle for an independent audit and secured a licensing agreement with Baristas for its Munchie Magic concept.

Positive

• Reported $249,873 in January revenue from Discount Ad Brokers.
• Historical average of over $20 million in annual gross billings indicates strong market presence.
• Anticipated revenue recovery as travel and dining restrictions ease.
• Application submitted for NASDAQ listing; ticker symbol 'RT' reserved.
• Engaged Pinnacle for independent audit to meet NASDAQ requirements.
• Licensing agreement with Baristas for Munchie Magic may boost revenue.

Negative

• Net revenues fell to just over $1 million in 2020 due to pandemic impacts.
• The historical reliance on travel industry advertising poses risks if recovery is delayed.

SEATTLE, WA, Feb. 11, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ReelTime VR/ReelTime Media (OTC:RLTR):   ReelTime’s Discount Ad Brokers (DAB), a 15 year-old discount media company that ReelTime acquired effective 1-1-2021, booked $249,873 of revenue in January from media placements specific to the travel industry.

Discount Ad Brokers focuses on providing clients top tier placements at pricing levels at or below remnant inventory rate structures through a unique inventory acquisition model utilizing a combination of contracted capacity buys, alternate currencies, barter, and aggressive bulk inventory-based contracts with major US media properties.

Annual gross billings for DAB historically have averaged over $20 million per year over the last 3 years resulting in net placement revenues averaging $2.6 million per year. Net Revenues have historically risen, from $4.2 million in 2018, to $5.1 million in 2019, yet were reduced to just over $1 million in 2020 due to an elimination of ads from restaurant and travel clients that have historically been a large percentage of the company’s mainstay business. This has begun to shift and is intended to exceed past performance once restrictions on travel and dining are lifted as is expected early in 2021. There is a pent-up demand for travel and restaurant advertising driven from both an industry and a consumer demand standpoint.

Barry Henthorn, CEO, stated: “This is very encouraging not only from a business perspective but from a societal one as well. There is an optimism surrounding the hospitality and travel sectors, and many of the major players are beginning to place media buys to ramp up to what is expected to be a surge in travel as restrictions are lifted and the pandemic is controlled by the vaccine. As this has historically been the bread and butter of Discount Ad Brokers’ business, ReelTime is well positioned to benefit as the travel industry returns meeting the demand.” 

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.

Other recent news:

ReelTime has engaged Pinnacle Accountancy Group of Utah ("Pinnacle" a dba of the PCAOB-registered audit firm Heaton & Company, PLLC) to perform an independent audit of the Company's financial statements. The audit will be performed according to the guidelines set forth by the NASDAQ Listing Requirements and the Public Company Accounting Oversight Board auditing standards. Pinnacle is one of the leading firms in and throughout the United States and abroad. Its partners and staff have provided audit services for SEC registrants since 2001 and are highly experienced dealing with the complex auditing and accounting challenges facing public companies.

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.baristas.tv 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

FAQ

What were ReelTime's January 2021 revenues?

ReelTime reported $249,873 in revenues for January 2021 from its Discount Ad Brokers segment.

What is the historical revenue trend for Discount Ad Brokers?

Discount Ad Brokers has averaged over $20 million in annual gross billings, with net revenues averaging $2.6 million per year.

When will ReelTime move to NASDAQ?

ReelTime has submitted an application to NASDAQ and reserved the ticker symbol 'RT' for when it meets listing requirements.

Who is performing the audit for ReelTime?

ReelTime has engaged Pinnacle Accountancy Group for an independent audit of its financial statements.

What is the significance of the licensing agreement with Baristas?

The agreement with Baristas for the Munchie Magic concept allows ReelTime to earn a per transaction license fee of $0.35 in perpetuity.