Business
Baristas Munchie Magic Secures Global Exclusive Perpetual Technology License from ReelTime Solidifying Ability to Expand Worldwide
Baristas Munchie Magic Secures Global Exclusive Perpetual Technology License from ReelTime Solidifying Ability to Expand Worldwide.
About this update from Reeltime Rentals, Inc.
[{"type":"text","content":"\n Seattle, WA, Jan. 13, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire --Baristas Coffee Company/Munchie Magic (OTC:BCCI) has reached a technology/software license and development agreement with its primary technology and media partner ReelTime Media (OTC:RLTR). 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.  ReelTime will continue to develop and support Munchie Magic on an ongoing basis under their current work for hire agreement. ReelTime maintains all rights and derivative works for non-Munchie Magic or convenience store applications.  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 and California as well.    Barry Henthorn, CEO, stated: \"Now that the business concept has been validated and Munchie Magic is growing at an accelerated pace, it was imperative that we secure ongoing access to the technology that is running the core of the business. Now Munchie Magic can continue to build its brand and infrastructure with certainty that it will have access to and the ability to build upon what has been developed.”  The media buys, integration, technology development, IP, and other cutting edge marketing for the Munchie Magic virtual restaurants are made possible and are being created via digital media/technology frontrunner ReelTime Media (OTC PINK:RLTR) www.reeltime.com. T...