Reeltime Rentals Inc (RLTR)

[rrojarom]

What’s the play here?

“no revenues in the three months ended June 30, 2017.”

Hope Barry and Scott start pumping their stock (PR’s or 8k’s) because that June filing reads as a share swap game with zero revenue... convertibles and promissory notes to individuals/corporations? No names?

“At June 30, 2017, the total shares issuable upon conversion of convertible notes payable would be approximately 1,121,854,000 shares of the Company’s common stock which exceeded the number of unissued shares of the Company’s common stock by approximately 484,840,000 shares.”

I was hoping for more after receiving a couple emails...

“At June 30, 2017, we had total stockholders’ deficiency of $1,741,240. We have had net losses since inception and had an accumulated deficit of $6,558,942 at June 30, 2017.”

https://www.otcmarkets.com/ajax/showFinancialReportById.pdf?id=180517

“Revenue Recognition
The Company recognizes revenues from the sales of our products or services using the following criteria for recognition:
1) Persuasive evidence of an arrangement exists;
2) delivery has occurred or services have been rendered;
3) the seller’s price to the buyer is fixed or determinable, and
4) collectable is reasonably assured.
Barter transactions represent the exchange of Company services for other services. These transactions are recorded at the estimated fair market value of the services provided or the fair value of the services received, whichever is most readily determinable. Revenue is recognized on barter and trade transactions when the services are provided. Expenses are recorded ratably over a period that estimates when the service received is utilized, or when the event occurs. Barter and trade revenues and expenses from continuing operations are included in revenue and cost of revenues, respectively.


Ah the fiasco...

NOTE 10 – PURCHASE AGREEMENT On or about December 23, 2015, a Technology/Stock Purchase Agreement (the “Agreement”) was executed and entered into between and among the Company, Bellatora, LLC, Hall of Fame Beverages, Inc., James C. Hodge and Atom Miller. Under the terms of the Agreement, the Company was, inter alia, to become the 100% owner of Bellatora, LLC, the name of the Company would be changed, and certain persons were to receive a combination of common stock and preferred stock which would constitute in excess of 99% fully diluted stock ownership in the Company. Thereafter, a dispute and disagreement arose between and among the parties concerning the Agreement and the various actions which were to be undertaken. On February 17, 2016, the Agreement was rescinded and terminated by the parties and, to the extent possible, all parties have been restored and returned to their respective positions prior to entering into the subject Agreement. At closing on February 19, 2016, the Company paid $25,000 and issued a promissory note for $17,259 (see Note 8(B) to settle the agreement.

(B) Short-Term Notes Payable

December 23, 2015 (see Note 10). The loan bears interest at 1%, compounded monthly and has a maturity date of February 28, 2017. After maturity the interest rate increases to 12%. In addition, Barry Henthorn, the Company’s CEO, has personally guaranteed the repayment of the promissory note. The promissory note plus accrued interest was paid-off in February 2017. The unpaid balance including accrued interest was $8,766 at December 31, 2016.”