Business
ReelTime's Dilution Reduced by 20 Million Arising From Negotiated Settlement in Their Favor
ReelTime's Dilution Reduced by 20 Million Arising From Negotiated Settlement in Their Favor.
About this update from Reeltime Rentals, Inc.
[{"type":"text","content":"\n SEATTLE, WA, May 26, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ReelTime VR/ReelTime Media (OTC:RLTR) has reduced the potential dilution by 20 million shares as a result of a successful negotiated settlement with one of its strongest supporters.  The agreement entered into on July 15th, 2018 provided for 25 million shares to be issued over five years has been renegotiated to provide a total of 5 million shares. This reduces the previously obligated dilution by 20 million shares. The shares have been earned but not issued as of 5-26-2021 and will be reflected in the Companies upcoming filings.  The negotiated settlement coincides with ReelTime's debt restructuring initiative to dramatically reduce the potential dilution and debt as it continues to prepare to up list to the NASDAQ Capital Markets.  Barry Henthorn, CEO, commented, “We are incredibly pleased to have been successful in reaching an agreement that reduces the potential dilution by 20 million shares. We are in the process of reaching other additional arrangements with several our investors to further reduce the potential dilution and to reduce the debts on the company’s books. As I have stated previously, 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.” Other recent news: ReelTime Acquires 100% of LoudMouth Media from CBMJ – Expanding Scope and Distribution ReelTime TV Channels Adding 40 million Apple TV Users to Potentially Reach Over 140 Million Monthly Active Users ReelTime TV Channels Adding 50 Million Amazon Fire TV Users to Roku’s 51.2 Million Monthly Active Users, Exceeding Cable, Satellite Potential Reach Combined ReelTime to Launch Roku Channel ReelTime TV to 51.2 Million Monthly Active Users, Expanding Content Distribution and Advertising Revenues Using Technology 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 ...