ReelTime's Technology License Revenues at New Highs from Virtual Restaurants Munchie Magic and Thai Dah
ReelTime VR/ReelTime Media (OTC PINK:RLTR) reported an increase in revenues from its technology license with Baristas (OTC PINK:BCCI) for its virtual restaurants, Munchie Magic and Thai Dah. CEO Barry Henthorn stated that Munchie Magic's growth continues effectively, while Thai Dah began generating revenue in October. Over 50 Munchie Magic locations have been established in 10 states, partnering with delivery services like DoorDash and GrubHub. ReelTime receives a transaction fee of $0.35 in perpetuity under the licensing agreement.
- Continued revenue increase from technology license with Baristas.
- Munchie Magic has opened over 50 locations in 10 states.
- Thai Dah began generating revenue in October 2021.
- Transaction fee of $0.35 in perpetuity strengthens revenue stream.
- None.
SEATTLE, WA / ACCESSWIRE / November 2, 2021 / ReelTime VR/ReelTime Media (OTC PINK:RLTR) announced that its revenues from its technology license with Baristas (OTC PINK:BCCI) for the virtual restaurants "Munchie Magic" and "Thai Dah" continue to increase as the virtual restaurants continues to expand.
Barry Henthorn - CEO stated, "Munchie Magic continues to grow at an increasing pace. Thai Dah has now also begun generating revenues in October and with many more locations in the process of opening from both, we expect additional residual revenues."
ReelTime recently expanded its technology/software license and development agreement with virtual restaurant pioneer Baristas (OTC PINK:BCCI) beyond Munchie Magic/MiniBar Magic to feature Thai Dah, a virtual restaurant platform for Thai restaurants. The licensing agreement allows Thai Dah to have rights to utilize the global perpetual technology license and methodologies developed by ReelTime that allow the virtual restaurants to integrate with partners, onboarding, marketing, and administrative functions.
Baristas Munchie Magic has opened more than 50 locations in the past twelve months in 10 states delivering Ben & Jerry's ice cream, snacks, beer, wine, hard alcohol, and hot foods to customers via delivery partners DoorDash, GrubHub, and Uber Eats. www.munchiemagic.com.
Thai Dah www.thaidah.com is led by international Thai superstar Front Montgomery. Named "The Most Beautiful Woman of All Time" www.mostbeautifulwomenintheworld.com Thai Dah provides Thai cuisine prepared and packaged by their Thai restaurant partners, delivered to their customers by delivery partners Uber Eats, Grub Hub, and Door Dash. Under license from ReelTime, Thai Dah provides all the technology, marketing, advertising, and industry knowledge. Restaurant partners use only one integrated tablet for all their delivery partners as well as for all their existing or future delivery partners at no additional cost. They provide the tablet and training; all restaurant partners need to do is be ready to sell what they already prepare in their restaurant!
In exchange for the global perpetual exclusive license from ReelTime for the Munchie Magic/MiniBar Magic, and Thai Dah concepts and derivative Virtual Restaurants, ReelTime receives a per transaction license fee of $.35 in perpetuity in conjunction with the terms of the agreement.
ReelTime maintains all rights and derivative works for non-Munchie Magic, MiniBar Magic, and Thai Dah applications.
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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.
About ReelTime Rentals, Inc. d/b/a ReelTime Media: www.reeltime.com is a publicly-traded company based in Seattle, WA (OTC PINK: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 revenue growth has ReelTime VR reported from Munchie Magic and Thai Dah?
How many locations has Munchie Magic opened recently?
When did Thai Dah start generating revenue?
What is the transaction fee ReelTime receives from the licensing agreement?
