ReelTime Rentals (OTCMKTS:RLTR) Stock Gains Momentum After The News
ReelTime Rentals (OTCMKTS:RLTR) was up 3% following the announcement that revenues for its tech permit with Baristas (OTCMKTS:BCCI) for “Thai Dah” and “Munchie Magic” virtual restaurants has continued to grow with the virtual restaurants growing.
Market Stats
On Tuesday, RLTR stock jumped 2.62% at $0.0849 with more than 834.40K shares, compared to its average volume of 355K shares. The stock has moved within a range of $0.0799 – 0.0889 after opening the trade at $0.0820.
ReelTime’s Technology License Revenues at New Highs
The company’s CEO, Barry Henthorn, said that Munchie Magic is growing at a fast rate, and Thai Dah started generating sales in October. In addition, Henthorn said that the additional locations would be opening for both Thai Dah and Munchie Magic, creating more residual revenue for the company.
Recently the company expanded its software/tech license and development contact with Baristas beyond minibar magic/Munchie Magic to Thai Dah. Baristas is a pioneer in the virtual restaurant segment. The agreement will allow Thai Dah, which is a virtual platform for Thai restaurants, to utilize the tech license and ReelTime developed methodologies to enable virtual restaurants to incorporate partners, marketing, administrative, and onboarding functions. So in the coming months, investors should keep an eye on RLTR.
Key Quote
Barry Henthorn – CEO stated, “Munchie Magic continues to grow at an increasing pace. Thai Dah has now also begun generating revenues in October and with many more locations in the process of opening from both, we expect additional residual revenues.”
Traders Corner
RLTR stock is trading below the 20-Day and 50-Day Moving averages of $0.0948 and $0.0988 respectively. Moreover, the stock is trading below 200-Day moving average of $0.1709. The stock is down 15% in the past month.
