Seattle, WA – (NewMediaWire) – January 6, 2021 – ReelTime’s revenues from its core business in Q3 2020 have increased by nearly 70% over the previous period and approximately 25% over the same period last year.
The revenues reported in the Company’s’ latest financials do not include any revenues from recently acquired Discount Ad Brokers (DAD) a 15-year-old media company operating within a unique niche of the advertising industry. Revenues from this and other completed acquisitions will be included in consolidated reports with the period beginning January 1st, 2021.
Annual gross billings for (DAD) 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 are expected to be 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 companies 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. Discount Ad Brokers have consistently been the agency of choice for discount media placements for notable marquis clients such as Hooters, Hard Rock Resorts International, Toys for Tots, Tony Robins, Glucose Health, SeaWorld, and numerous national brands within the hospitality, finance and As Seen On TV sectors, generating over 30 million dollars in revenues from these accounts which will be maintained in accordance with the agreement.
Barry Henthorn, CEO, stated: “The Company believes it has filed all required financial disclosures and expects to achieve Current status within days subject to review by all applicable regulators.”
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.
In other news:
ReelTime’s VR capabilities which were showcased in Inc. Magazines’ March 24th issue solves the monetization problem of high production cost in relationship to the size of the potential audience that has thwarted VR content creation. Using ReelTime process and Ubiquiview technology, content can be shot in VR yet made available to major networks and other flat content portals as well. By expanding the number of potential viewers from only those with a VR headset to nearly all widely used formats, traditional monetization via product placement, embedded advertising, pre, and post-roll sponsorships, etc. become possible.
In 2020 ReelTime VR topped the list published in Virtual Reality Insider of three unknown public companies set to drive the explosion of the AR/VR worlds as access and adoption/adaptation become commonplace. The full article can be seen at www.virtualrealityinsider.com . The article makes special mention of the potentially industry shaping significance of ReelTime’s patent Number 10,761,303 that was just issued by the USPTO on September 1, 2020. The patent covering apparatus and method claims for technology involving simultaneous capturing of 360 X 360 degree Spherical Panorama Images and Video.
Earlier this year ReelTime VR appeared in TIME Magazine where it was singled out as companies “Among those most likely to gain from the growing virtual reality market” and where it cited ReelTimes “In Front of View” as “The World’s No. 1, VR Travel Show”.
About NASDAQ Capital Markets: Nasdaq is a global technology company serving the capital markets and other industries. Our 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.