January 5, 2013
Dear fellow shareholders,
I have received a number of inquiries regarding the company's progress. We are challenged with several obstacles and progress has been made.
Currently, our concentration is on verifying the company debt so as to accurately identify our liabilities. This effort has been hindered by the "loss" of or "misplacement" of corporate documents. We are researching the files in our possession and expect to have this completed shortly.
At the same time, we endeavor to file accurate financial statements so we may become fully OTC pink sheet compliant. Removal of the STOP sign is a necessity in moving forward.
We continue to evaluate several business opportunities that may be compatible with Reeltime. including a second look at the original model. Delivering quality content on demand in a cost effective manner is intriguing and worthy of further research.
Further updates to follow. As always, I look forward to hearing from you and appreciate your continued support.
Chairman & CEO ReelTime Rentals, Inc
8208 Wooden Dr
Spring Hill, Florida 34606
(352) 600-7644 Fax
Letter to Shareholders and Executive Commentary
on the State of the Company
May 28, 2013
After many months of research and reconciliation, we have completed all of the filing and disclosure documents to become completely current with OTC Markets. These include annual reports for years ending 2011 and 2012 and Q1 2013. These financials have been accepted by our SEC counsel and their opinion letter has been received by OTC Markets for public filing.
This was an important first step in our turnaround process. The reconciliation process was lengthy but has been resolved to the benefit of the company.
Firstly, in regards to the tax obligation owed the Internal Revenue Service. We are and have been in the process of gathering and providing information so that this debt may be resolved as expediently as possible. We are confident that this will be resolved concurrently with our bringing all other tax filings current.
Many of you have written with questions regarding the direction/business plan going forward. We continue to evaluate several different but unique paths. We expect to make a decision on which path to pursue within this current quarter.
There have also been inquiries on the past dispute as to actually who was in control. It has been determined definitively that I was duly appointed within the By-laws of the corporation and recognized by the State of Washington, and OTC Markets, Holladay Stock Transfer, and other applicable governing tax authorities and banking institutions. All prior claims were found to baseless and without merit. The time and energy devoted to the fraudulent claims otherwise was time and cost consuming however any doubt has now been resolved.
Regarding our funding, we have secured a line of credit in the amount of $100,000.00 from Capital Consulting, Inc of Delray Beach, Florida, dispensed as needed to run the day-to-day operating expenses. We do not anticipate additional need for funding in the near future. Our partner is solidly in favor of ReelTime and its management. To date, we have paid four long outstanding receivables and negotiatee settlements on others.
I realize communication has not been as promised. Frankly, we have been bogged down in the process and there were times when little progress was made. Could we have been more transparent? Yes and I apologize. In retrospect, a simple statement of what we were trying to accomplish would have been better than nothing at all. However, we wanted to accomplish a significant milestone which we have by our recent filings before discussing our plans. The Company is now current in all of its OTC Filings and disclosures, paid critical bills and well on its way to becoming Pink Current Reporting. I will strive to communicate more often even if the update is minute in detail. Please continue to share your ideas and concerns by writing me at email@example.com. Your input is greatly valued and appreciated. I thank you for your continued support and look forward to a profitable balance of 2013.
James C. Hodge