SEATTLE, WA / ACCESSWIRE / March 12, 2020 / Baristas Coffee Company/Munchie Magic has announced that it has formed a separate company Munchie Magic, Inc. that will focus solely on the development and expansion of the Munchie Magic virtual restaurants that delivers Ben & Jerry's ice cream along with Baristas coffee products and other snacks foods through its third-party delivery partners. Baristas remains the majority shareholder, maintains control of the board of directors, and will be able to report revenues in its financial statements based on consolidated financial statement principles. The purposes for forming the separate company included, but were not limited to, clarity in accounting, the ability to fund the expansion of the business, ease of separating Munchie Magic from other Baristas activities, and avoidance of potential confusion in the marketplace.
All existing contracts and locations are in the process of transitioning to Munchie Magic, Inc. which will remain in the control of Baristas Coffee Company, which thereby benefits Baristas shareholders. In addition, the $250,000 of the Media Funding that has been allocated to Baristas Coffee Company (OTCPINK:BCCI) as Co-Op funds for its "Munchie Magic," from ReelTime Media (OTCPINK:RLTR) remains in tact to be utilized for the marketing of Munchie Magic.
Barry Henthorn CEO stated: "Munchie Magic has evolved rapidly since its initial test and subsequent refinement. We are very optimistic about its success as we open new locations and expand our food offerings. This new structure helps expand the new company into a self-sustainable business while protecting Baristas and its shareholders."
ReelTime Media remains as the exclusive marketing agency of record and production partner for the Baristas Coffee (OTCPINK:BCCI) and its home delivery network designed to deliver Ben and Jerry's ice cream, Baristas Coffee products, and other munchies to homes and businesses throughout America under the "Munchie Magic" virtual restaurant brand. ReelTime Media is handling aspects of the creation and production of a multimedia campaign for the Baristas initiative that is expected to include advertisements and promotions on TV, radio, print, social media, out of home, and new digital media.
About ReelTime Rentals, Inc. d/b/a ReelTime Media: www.reeltime.com, is a publicly-traded company based in Kenmore, WA (OTCPINK: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 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 in People Magazine, Rolling Stone, In Touch, and a six-part series on Paramount network, www.itwasalwaysme.com.
About Baristas Coffee Company: Baristas is a publicly-traded national coffee company that is recognized throughout the US. It currently produces and sells coffee related products under the Baristas brand. The Baristas White Coffee single-serve cups compatible with the Keurig 2.0 brewing system is the bestselling product in its category. Baristas also markets other coffee-related products. Baristas gained mainstream exposure when it became the subject of "Grounded in Seattle" the reality show special feature which aired on WE tv. It has been featured nationally including during Shark Tank on CNBC with Front Montgomery, CNN, ESPN, Food Network, Cosmopolitan Magazine, Forbes Magazine, Modern Living with Kathy Ireland, Sports Illustrated, NFL Monday and Thursday Night Football with Megs McLean, at NASCAR Races, The Grammys, NBA TV, and other notable media.
Contact:
Barry Henthorn
barry@baristas.tv
SOURCE: Baristas Coffee Company Inc.
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https://www.accesswire.com/580308/Baristas-forms-Munchie-Magic-Inc-to-Accelerate-Expansion-of-its-Ben-Jerrys-and-Snacks-Delivery-Virtual-Restaurant-Concept
