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ReelTime Grants Global Exclusive Perpetual Technology License to Baristas Munchie Magic Securing Ongoing Revenues
ReelTime Grants Global Exclusive Perpetual Technology License to Baristas Munchie Magic Securing Ongoing Revenues.
About this update from Reeltime Rentals, Inc.
[{"type":"text","content":"\n Seattle, WA, Jan. 13, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ReelTime Media (OTC:RLTR) has 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 and California as well.    Barry Henthorn, CEO, stated: \"ReelTime has built a scalable foundation that can facilitate the expansion of the Munchie Magic concept and beyond. Having secured a per transaction fee gives ReelTime a stake in the success that Munchie Magic is experiencing 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 corpor...