SPRING HILL, FL - (NewMediaWire) - January 08, 2016 - ReelTime Rentals, Inc. (hereinafter "ReelTime") (OTC PINK: RLTR) www.reeltime.com, the technological leader in Virtual Reality production and distribution worldwide, announced that it has rescinded the Technology Stock Purchase Agreement with Bellatora, Inc. previously announced.
The agreement was rescinded due to, among other things, material discrepancies and insurmountable contractual issues. The companies now have no affiliation nor business dealings with each other nor are any contemplated in the foreseeable future.
ReelTime will continue to focus on its core business of developing Virtual Reality technologies, content, and distribution platforms, along with developing monetization strategies for individuals and companies who have been thrust into the public eye through the media.
James Hodge, CEO, stated, "ReelTime is in a very strong and unique position with the ReelTime VR platform and the company will be dedicating its resources solely to the core business objectives of the Company. We wish Bellatora luck in their separate business dealings. We further apologize for any confusion arising from the rescinded contemplated transaction."
About ReelTime/ReelTime VR:
ReelTime, www.reeltime.com, is in the business of identifying and monetizing individuals and companies who have been thrust into the public eye through the media. Through its partners, ReelTime is uniquely positioned to capitalize on the exposure and to maximize the benefits. These opportunities are borne via merchandising, leveraging exposure into relationships, creating and marketing new revenue streams for existing products, and launching new products. ReelTime VR is an application designed exclusively for ReelTime to enhance the virtual reality experience. It is the most technologically advanced application released to the public to date. The application, which is available now to nearly 2 billion devices worldwide for iPhone, Android and Blackberry devices, can be viewed for free with or without a virtual reality headset using most smartphones. The user is immersed in 360 degree viewing experience allowing them to look up, down and all around as if they were standing right there.
Safe Harbor for Forward-Looking Statements:
When used in this statement, the words "may," "will," "except," "anticipate," "continue," "estimate," "project," intend" and similar expressions are intended to identify forward-looking statements within the meaning of Section 27a of the securities act of 1933 and Section 21e of the Securities Exchange Act of 1934 regarding events, condition, and financial trends that may affect the Company's future plans of operations, business strategy, operating results, and financial position. Persons reviewing this report are cautioned that and forward-looking statements are not guarantees of future performance and are subject to risk and uncertainties and those actual results may differ materially from those include within the forward-looking statements as a result of varying factors. Such factors include among other things, uncertainties, relating to our success in judging consumer preferences, financing our operations, entering into strategic partnerships, engaging management, seasonal and period to period fluctuations in sales, failure to increase market share or sales inability to service outstanding debt obligations dependents on a limited number of customers, increased production costs or delays in production of new products intense competition within the industry, inability to protect the intellectual property in the international market for our products, changes in market conditions and other matters disclosed by us in our public filings from time to time, Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.