LETTER TO MG
(FloridaFH please post to FB. verjamb, please feel free to mail)
I am writing on behalf of the shareholders listed below, representing nearly 20 million shares of Reeltime Rentals, Inc. Many of these individuals have been investors with the company for years, if not from the very beginning. Many have held on through some pretty tough times. ALL of us have lost a significant chunk of our original investment.
In August of 2010 the announcement was made that Reeltime intended on entering an agreement to purchase EnableWare. For the first time in a long time, investors had hope that something great could still happen with Reeltime. That is when the silence began. Unfortunately, over the course of the last 14 months, we have had nothing but our own speculation (as I'm sure you are aware) to hang our hats on. We have been waiting, not always patiently...but we have stuck with this company, hoping that a miracle could happen. At times it seemed close... i.e. the Facebook comments about "setting the tables", or the e-mail saying that a PR would be issued "presently". It was always vague little bits and pieces or info and each time we would all get our hopes up that we would soon hear something "official". But alas, just more silence followed.
To say we are tired of this waiting game is a major understatement. Many here are just plain fed up or becoming resigned to the fact that its over for Reeltime. We all have our own opinions, but few of them are positive at this point. We have waited and waited and watched as the PPS continually took a nose dive to where it is now... almost nothing...losing our patience and our shirts. The waiting would be more tolerable if we just knew something. I mean really, isn't some kind of update long overdue? Something other than the generic response that you sent to myself and several other investors about still trying to make Reeltime viable? Something other than your Facebook comments. The ones that disputed the posts of a certain ex-employee of Reeltime. You were quick to discredit his word, but offered no concrete reason that we should not believe what he said about bankruptcy. Granted, his two cents didn't seem to hold much water with the long-timers here, but you can't just say "He's a liar" without telling us why.
As Chairman, you know better than anyone that not keeping your investors informed is bad practice. It may not be unlawful, but it sure is irresponsible...and it is just plain disrespectful to the Reeltime shareholders. So Michael, we feel the time is NOW. By now, we mean NOW... not next week, not next month, and sure as heck not "presently"! Your investors want some answers! Is a relationship with EnabledWare still a possibility? If so, can you define what this relationship might entail? If not, are you working on something else? What happened that seemed to suddenly made this deal with EnabledWare fall off the face of the Earth? Is the company indeed filing bankruptcy? Will there be a shareholder meeting at the end of the year? Can you give us any details at all on OUR company? I understand that you may be dealing with confidentiality agreements and other legitimate reasons for not giving out sensitive information, but please tell us something, ANYTHING!!! If you feel there is a legitimate reason for this silence, at least tell us when you will be able to give us information. And please do so without using the typical vague language to which we've grown so accustomed.
Thank you,
EALANO: 250,000 shares
FloridaFH: 400,000 shares
Mstur29: 2,100,000 shares
truethat: 200,000 shares
verjamb: 850,000 shares
Bluediamonds68: 511,968 shares
Xoulu: 1,168,000 shares
desert man: 1,100,000 shares
Reelinvestor: 2,000,000 shares
mikey7: 600,000 shares
carpetmike: 420,000 shares
payperview: 395,000 shares
thaiguy: 250,000 shares
sevenandcounting: 500,000 shares
parkwest14: 367,000 shares
highflier: 1,280,000 shares
cowboyfan: 1,025,000 shares
FN22: 951,900 shares
stock-hunter: 1,500,000 shares
mdimport: 200,000 shares
witchie: 3,500,000 shares
