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ReelTime Expands Global Exclusive Perpetual Technology License to Baristas Thai Dah Securing Ongoing Revenues
ReelTime Expands Global Exclusive Perpetual Technology License to Baristas Thai Dah Securing Ongoing Revenues.
About this update from Baristas Coffee Company Inc.
[{"type":"text","content":"SEATTLE, WA / ACCESSWIRE / August 12, 2021 / ReelTime Media (OTC PINK:RLTR) www.reeltime.com has reached a technology/software license and development agreement with Baristas (OTC PINK:BCCI) 'Thai Dah'. The licensing agreement secures Thai Dah 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 Thai Dah Virtual Restaurant or other convenience store delivery concepts. The agreement also allows for Thai Dah 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 Thai Dah 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 August 11th, 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 is now in 10 states.Barry Henthorn, CEO, stated: 'The impressive potential of ReelTime's scalable foundation has now been confirmed with the expansion of Thai Dah. The swift growth seen in Munchie Magic excites us about Thai Dah's future and the option of further expansion as well. ReelTime has a stake in the success in Thai Dah while giving them the confidence that we will remain an active partner. It aligns both companies to support and grow the businesses in tandem.'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 ...