ReelTime’s Technology License Revenues Increase with Rapidly Expanding Virtual Restaurant Munchie Magic
SEATTLE, WA, Oct. 07, 2021 (GLOBE NEWSWIRE) -- via ReelTime VR/ReelTime Media (OTC PK:RLTR) announced that its revenues from its technology license with Munchie Magic has increased as the virtual restaurant continues to expand.
Barry Henthorn – CEO stated, “The growth of virtual restaurants such as Baristas Munchie Magic does not show any signs of slowing down. ReelTime continues to refine its virtual restaurant technology allowing it to accommodate additional concepts and broader analytics.”
ReelTime recently expanded its technology/software license and development agreement with virtual restaurant pioneer Baristas (OTC:BCCI) beyond Munchie Magic/MiniBar Magic to feature Thai Dah, a virtual restaurant platform for Thai restaurants. The licensing agreement allows Thai Dah to have rights to utilize the global perpetual technology license and methodologies developed by ReelTime that allow the virtual restaurants to integrate with partners, onboarding, marketing, and administrative functions.
Baristas Munchie Magic has opened more than 50 locations in the past twelve months in 10 states delivering Ben & Jerry's ice cream, snacks, beer, wine, hard alcohol, and hot foods to customers via delivery partners DoorDash, GrubHub, and Uber Eats. .
In exchange for the global perpetual exclusive license from ReelTime for the Munchie Magic/MiniBar Magic, and Thai Dah concepts and derivative Virtual Restaurants, ReelTime receives a per transaction license fee of $.35 in perpetuity in conjunction with the terms of the agreement.
ReelTime maintains all rights and derivative works for non-Munchie Magic, MiniBar Magic, and Thai Dah applications.
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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.
About ReelTime Rentals, Inc. d/b/a ReelTime Media: 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, .
CONTACT:
Barry Henthorn
