A small Washington-based company came to an agreement to grant an exclusive perpetual technology license to Baristas Coffee Co Inc. (OTC-PNK:BCCI). ReelTime Media (OTC-PNK:RLTR) announced the technology/software license and development agreement this morning, where 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 $0.35 in perpetuity in conjunction with the terms of the agreement beginning on Jan. 1, 2021, according to the release.
Reeltime Rentals Inc. develops, produces, and distributes Virtual Reality content and technologies. The company has an end to end production, editing, and distribution capabilities for internal and external projects. It anticipates distributing content made by third parties over its distribution network through licensing, acquisition and joint ventures.
The company engages in developing and producing an end to end state of the art Virtual Reality suite and implementing a Virtual Reality distribution platform. It develops three ongoing series for the Samsung Gear VR platform and distributes them over numerous VR delivery portals including Gear VR, Oculas, Veer VR, HTC Vive, YouTube 360, Facebook, and others.
Baristas Coffee is a United States-based company. It manufactures and sells coffee related products under the Baristas brand. Also, the company sells CBD infused coffee under the EnrichaRoast CBD brand, and it also markets other coffee-related products. The company's products include Baristas White Coffee and Baristas CBD Coffee.
Traders seem to be excited on the news as shares of ReelTime traded up to an early session high of $0.1488/share (+14.5%) following the announcement. This comes just one day after the stock found support at its 100-day SMA.
