Dear fellow shareholders,
Below is a list of popular questions that we received during the first quarter. The company’s response is noted in bold:
Q. No clear information on the structure of this company, who works for it, etc?
A. The company is served by a variety of contractors/ consultants working as directors, producers, editors and advance team/support staff. Todd and Jackson as ReelTime Partners head the development and production of film and television projects.
Q. Too many company names we are doing business under. Why?
A. ReelTime Rentals, Inc is the company’s legal name. We secured the additional registration names so we could better represent the company in its current and future plans.
Q. Will there be any audited financials of this company? When?
A. Yes, as we continue reducing debt and producing revenue our future growth and partnerships will be dependent on it. We foresee audited financials during the next fiscal year.
Q. Describe the relationship with TurnLeft.
A. In December 2013, ReelTime entered into a consulting agreement with TurnLeft Productions, Inc. of Santa Clarita, CA for the purposes of evaluating a business partnership that would lay the foundation for the company’s new business plan That relationship ended by its terms on January 10, 2014.
As a result of the above promising consulting relations–and after a period of due diligence- -our two companies entered into a Partnership Agreement January 22, 2014 (the “Agreement”) creating a general partnership/joint venture styled ReelTime Partners where our respective energies and resources would be pooled in a working collaboration that mutually furthers the businesses of both companies.
ReelTime Partners is in the business of identifying and monetizing individuals and companies that have received exposure thru the media or other means and TurnLeft will be doing much of the implementation of same inasmuch as Turn Left’s business forte is to create, produce and sell television content. To this date, several matters are being pursued as a result of this collaboration.
Under the Agreement, ReelTime issued shares to Turn Left and in return shares in the costs and net profits of the partner projects.. At the present time, and one of our priorities, is to work with our counsel to negotiate an amendment to the original Agreement that better addresses the rights and responsibilities of each party and, among other issues, will be better responsive to the responsibilities of ReelTime as a publicly traded company. We will provide further information once we have anything to report.
Q. What is exactly is being done to address the IRS issues?
A. As of 5/12/14 we began making payments to the US Treasury to reduce the outstanding tax obligation.
Q. What is Mr. Hodge’s compensation and how is it determined.
A. Mr. Hodge has a three year Executive Employment Agreement. The compensation is heavily incentive laden TO REACH AND EXCEED COMPANY milestones.
Q. How is time being spent in the interest of ReelTime and what time is being spent with the other company Hodge is involved with?
A. Mr. Hodge manages the day to day operations of ReelTime Rentals, Inc. As for his affiliation with Bio-Solutions Corporation Mr. Hodge was elected Chairman of the Board of Directors this past April for a term of one year. His association is mostly philanthropic as he believes in the product and its properties in the battle against diabetes and does not require any material commitment of time.
We will continue to inform our shareholders of our progress as developments occur and we are able to disclose details.