A Washington-based micro cap just announced that it received approval for a substantial debt restructuring initiative to dramatically reduce potential dilution and debt in preparation of completing NASDAQ listing requirements. Reeltime Rentals Inc. (OTCPK:RLTR) enjoyed a nice rally on the day following the headline.
Reeltime Rentals 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.
Traders were optimistic on the news as shares traded up to an early session high of $0.339/share (+49.33%). This move is a potential break out of the downtrend the stock has been in since making a 52-week high of $1.03 just last month.
