Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Live Updating

Newer

AskMuncher Free

03/12/21 10:30 PM

Post #1

$RTLR ReelTime Receives Approval for Substantial Debt Restructuring Initiative to Dramatically Reduce Potential Dilution and Debt in Preparation of Completing NASDAQ Listing Requirements from The Majority of Debt Holders
Press Release | 03/10/2021
Seattle, WA, March 10, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ReelTime VR/ReelTime Media (OTC:RLTR): announced that it has begun an initiative to restructure its debt, resulting in a dramatic reduction of potential dilution from convertible notes.

Although currently all convertible notes contain a provision that at no time can the notes be converted that would result in any note holder owning greater than 4.99 percent of the issued and outstanding shares, if all notes were to be converted at face value the number of shares would exceed the authorized amount. The restructuring plan utilizes a combination of paying off certain notes in full and a dramatically re-negotiated conversion price of all notes with an anticipated effect of:

Potential Dilution is expected to be reduced from nearly 3 Billion shares to less than 100 million.

All notes will have strict guidelines restricting any conversions prior to RLTR becoming fully reporting and trading on the NASDAQ Capital Markets.

The restructuring is expected to be substantially completed in the next two weeks and is anticipated to be reflected in the upcoming financial reports. RLTR has received approval from note holders representing the majority of the debt to be restructured and/or has made plans to pay off the remaining notes.

Barry Henthorn, CEO, stated: “The restructuring of the debt has been in the works for some time. This is not only a dramatically positive move for the shareholders but will aid significantly in RLTR’s ability to meet the listing requirements set forth by NASDAQ. This is among the most significant and potentially impactful developments from a corporate structure standpoint to date. Personally, as one of the largest holders or control persons of the debt I completely support this initiative and fully expect it to increase shareholder value in both the short and long term.”

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’s Discount Ad Brokers (DAB) a 15 year old discount media company that ReelTime acquired effective 1-1-2021 booked approximately $364,702.17 of revenue in February from media placements on TV, Radio, and other media led by clients in the travel and hospitality business. ReelTime also announces that DAB’s final January 2021 revenue numbers previously reported as $249,873 from media placements specific to the travel industry, were $314,741.71 in total revenues from all sources. These do not include any revenues from the parent Company ReelTime Rentals, Inc whose financials are available at and will be consolidated in future reports.

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

Newer

Rattler Midstream LP (RTLR)

Followers	0	Posters	2
Posts (Today)	0	Posts (Total)	2
Created	12/04/19	Type	Free
Moderators

https://www.rattlermidstream.com/

Rattler Midstream is a growth-oriented Delaware limited partnership formed in July 2018 by Diamondback Energy, Inc. to own, operate, develop and acquire midstream infrastructure assets in the Midland and Delaware Basins of the Permian Basin. Rattler provides crude oil, natural gas and water-related midstream services (including fresh water sourcing and transportation and saltwater gathering and disposal) to Diamondback under long-term, fixed-fee contracts.

Grow by leveraging our strategic relationship with Diamondback and through accretive acquisitions.
Diamondback, with its strong credit profile and well-capitalized balance sheet, is well positioned to pursue its growth-oriented upstream development strategy. Our provision of midstream services to Diamondback is an integral component of that strategy and critical to Diamondback’s success. We expect to grow organically with Diamondback as it increases production on the Dedicated Acreage, participate with Diamondback in acquisitions that contain midstream infrastructure and source additional acreage dedications from Diamondback and third-party producers and/or acquire complementary midstream assets on our own when these opportunities align with our strategic plan and are accretive to unitholders.

Serve as the primary provider of midstream services for Diamondback.
We own and operate midstream infrastructure assets that handle the majority of Diamondback’s midstream gathering and water-related needs in the Midland and Delaware Basins. Our midstream assets were built or acquired to support Diamondback’s multi-year growth with minimal incremental capital expenditures. We expect that Diamondback’s production, and therefore its need for midstream services, will grow from the continual development of its core areas and we intend to utilize this relationship with Diamondback to drive free cash flow growth and the payment of distributions to our unitholders.

Focus on free cash flow generation to fund our minimal capital plan, support our distribution policy and maximize unitholder returns.
Our growth will be underpinned by high-margin, stable cash flow as a result of our long-term, fixed-fee contracts with Diamondback. In addition, we expect to have low future capital expenditure requirements, which will allow us to self-fund our minimal capital program and make distribution payments to our unitholders. A core component of our strategy is to maximize free cash flow while maintaining low leverage.

Emphasize providing midstream services under long-term, fixed-fee contracts to avoid direct commodity price exposure, mitigate volatility and enhance stability of our cash flow.
Our commercial agreements with Diamondback are structured as 15-year, fixed-fee contracts, which mitigates our direct exposure to commodity prices and enhances stability and predictability of our cash flow. We intend to pursue future opportunities that primarily utilize fixed-fee structures to insulate our cash flow from direct commodity price exposure.

Diamondback Relationship

We are managed and operated by the board of directors and the executive officers of our general partner, Rattler Midstream GP LLC. Diamondback is the sole owner of our general partner and has the right to appoint the entire board of directors of our general partner, including the independent directors appointed in accordance with the Nasdaq listing standards. Unlike shareholders in a publicly traded corporation, our unitholders will not be entitled to elect our general partner or the board of directors of our general partner. Many of the executive officers and directors of our general partner also currently serve in senior leadership positions at Diamondback and the general partner of Viper.

(any moderators have permission to edit the above info as long as it is relevant)