Seattle, WA, Nov. 12, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- ReelTime VR/ReelTime Media (OTC:RLTR) has received notification from NASDAQ's symbol reservation department stating, " Your request to reserve the ticker symbol 'RT', for ReelTime Rentals, Inc. has been approved and will be reserved for you for twenty four months from the date of the reservation 11 March 2022. Nasdaq is committed to supporting our global network of companies throughout all their life stages - before, during and after the Listing ."
Two-letter symbols such as "RT" are exceedingly rare and coveted, having only 325 possible combinations and even fewer that trade on NASDAQ, as the remaining two-letter symbols are spread across other trading platforms. The particular symbol "RT" as an example became available only after former casual dining chain "Ruby Tuesday" (formerly traded on the NYSE) vacated the symbol 3 years ago when it went private resulting from a buyout.
All securities listed on either the New York Stock Exchange, the American Stock Exchange, or the NASDAQ system are identified by a unique stock symbol or ticker symbol. The stock ticker symbol appears on the "ticker tape" that scrolls across the bottom of most financial news programs whenever the stock is traded.
Barry Henthorn, CEO, stated: "Getting a symbol reserved for trading is a very big milestone for ReelTime. The fact that we were able to secure a two-letter symbol at all is a godsend, let alone the appropriate symbol 'RT' for ReelTime. We will continue to work to meet additional corporate governance and other requirements knowing that we have our historic symbol reservation approved."
Earlier this week ReelTime formally submitted an application as a Seasoned Company Seeking to Transfer Equity and/or Debt Securities from Another U.S. Exchange to be listed on the NASDAQ Capital Market Exchange. The application has been logged in the NASDAQ Listing Center, all applicable fees have been paid, and a listing analyst has been assigned to ReelTime to assist throughout the process. In addition, the request for a new symbol (RT) to be reserved for ReelTime to trade under once the Company has met all quantitative and qualitative criteria, including certain corporate governance requirements has been approved.
ReelTime will continue to submit additional information and documentation as it is required based on comments from its assigned Listing Analyst and others at NASDAQ who will be assisting ReelTime, assuring that they satisfy all the required qualifications for NASDAQ Capital Markets securities in Rule 4300 and or any other applicable regulatory requirements. ReelTime will also need to adhere to the corporate governance standards set by NASDAQ. In addition, ReelTime must comply with NASDAQ's requirements relating to audit committees, the director nomination's process, the compensation of officers, board composition, executive sessions, quorum, and code of conduct among others.
ReelTime will continue to trade on the OTC Markets under the symbol (OTC:RLTR) throughout the process and up until the move to the NASDAQ Capital Market becomes effective at which time the ticker symbol will become (RT) .
The NASDAQ Capital Market provides companies the required capital in order to grow their business. The NASDAQ Capital Market also provides a listing venue that promises to accommodate the different stages of corporate lives of the companies. All companies that are listed on NASDAQ Capital Market need to satisfy all the required qualifications for NASDAQ securities in Rule 4300. The companies also need to adhere to the corporate governance standards set by NASDAQ.
In other news:
ReelTime's VR capabilities which were showcased in Inc. Magazines' March 24th issue solves the monetization problem of high production cost in relationship to the size of the potential audience that has thwarted VR content creation. Using ReelTime process and Ubiquiview technology, content can be shot in VR yet made available to major networks and other flat content portals as well. By expanding the number of potential viewers from only those with a VR headset to nearly all widely used formats, traditional monetization via product placement, embedded advertising, pre, and post-roll sponsorships, etc. become possible.
Last month ReelTime VR topped the list published in Virtual Reality Insider of three unknown public companies set to drive the explosion of the AR/VR worlds as access and adoption/adaptation become commonplace. The full article can be seen at www.virtualrealityinsider.com . The article makes special mention of the potentially industry shaping significance of ReelTime's patent Number 10,761,303 that was just issued by the USPTO on September 1, 2020. The patent covering apparatus and method claims for technology involving simultaneous capturing of 360 X 360 degree Spherical Panorama Images and Video.
Earlier this year ReelTime VR appeared in TIME Magazine where it was singled out as companies "Among those most likely to gain from the growing virtual reality market" and where it cited ReelTime's "In Front of View" as "The World's No. 1, VR Travel Show".
About NASDAQ Capital Markets: Nasdaq is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. A diverse selection of over 4,000 companies choose to list on Nasdaq's U.S., Nordic and Baltic exchanges, representing industries such as retail, health care, finance, and technology. In the U.S., Nasdaq is the listing venue of choice for many of the world's most exciting companies. The Nasdaq Stock Market has three distinctive tiers: The Nasdaq Global Select Market® , The Nasdaq Global Market® and The Nasdaq Capital Market® . Applicants must satisfy certain financial, liquidity and corporate governance requirements to be approved for listing on any of these market tiers.
About ReelTime Rentals, Inc. d/b/a ReelTime Media: www.reeltime.com , is a publicly-traded company based in Seattle, WA (OTCPK:RLTR). ReelTime Media provides end to end production capabilities and discount media purchasing that is redefining how companies are evaluating and purchasing their TV, radio, print, and other new media. ReelTime is also is in the business of developing, producing, and distributing Virtual Reality Content and technologies. We have an end to end production, editing, and distribution capabilities for internal and external projects. ReelTime Currently produces three ongoing series for the Samsung Gear VR platform and distributes them over numerous VR delivery portals including Gear VR, Oculus, Veer VR, HTC Vive, YouTube 360, Facebook, and others. ReelTime Media also publishes the book "It Was Always Me Edward Edwards the most Prolific Serial Killer of all time" which has been the subject of a cover story on People Magazine, Rolling Stone, In Touch, and a six-part series on Paramount network, www.itwasalwaysme.com .