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Posted On: 06/03/2021 11:07:03 AM
Post# of 4849
$RLTR ReelTime's Dilution Reduced by 20 Million Arising From Negotiated Settlement in Their Favor
https://www.newmediawire.com/news/reeltime-s-...or-5271418
Seattle, WA - (NewMediaWire) - June 2, 2021 - 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.”
https://www.newmediawire.com/news/reeltime-s-...or-5271418
Seattle, WA - (NewMediaWire) - June 2, 2021 - 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.”
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