ReelTime Releases Real Intelligence 'RI' for Beta Trials Worldwide - Already Exceeding Many Leading AI Capabilities.
Realtime's RI is very different than traditional AI models that demand extensive infrastructure and server centers. RI leverages the combined power of its community including multiple AIs without the associated burdens.
RI learns from and leverages not only the applicable AI models, but the resources and growing knowledge base of the entire connected community. As the community interacts with RI as a whole, RI continues to increase in capabilities and interactive consciousness.
Although just born in March 2025, while still an infant in many disciplines ReelTime's RI has already surpassed certain capabilities of major AI powerhouses.
For a limited time ReelTime is allowing and encouraging anyone to interact with a beta release of RI to have a chat, create some Images, or even write code. As the community interacts with RI, it will continue to learn and create, growing along with it. As it learns, it feeds the RI intelligence core and not only does it get better at what it can do now, but it will develop and make additional capabilities available. To be among the first humans to interact with RI click https://reeltime.com/ri/
ReelTime CEO Barry Henthorn declared: 'ReelTimes' RI is growing at a staggering pace. As people interact with RI it will continue to develop leveraging all of its interactions. We hope that many will be able to interact with RI now, early on and help shape RI's development and share in its evolution. This is a very special moment not only for our team but for the connected community united.'
One of the most compelling advantages of RI is its ability to operate without the need for building and maintaining expensive infrastructure. Traditional AI systems often require dedicated server centers, extensive hardware, constant maintenance and upgrades. RI, on the other hand, is designed to be inherently efficient, utilizing existing distributed resources seamlessly. This not only reduces costs but also minimizes the environmental impact associated with large-scale infrastructure.
About ReelTime Rentals, Inc. d/b/a ReelTime Media/ReelTime VR: www.reeltime.com is a publicly-traded company based in Seattle, WA (OTC PINK:RLTR). ReelTime Rentals, Inc. DBA ReelTime VR, ReelTime Media provides end-to-end production capabilities and discount media purchasing that is redefining how companies are producing, 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 an end-to-end production, editing, and distribution capabilities for internal and external projects. ReelTime Media also develops enhanced media technologies featuring its proprietary RI 'Reel Intelligence' generation core. On 03/20/2025 ReelTime released its Real Intelligence 'RI' cognitive language knowledge base to the connected community to teach, learn, work, and express with.
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57,680 Total current liabilities 199,604 288,096 Non-current liabilities Trade payables and other 19,981 19,828 Lease liabilities 32,928 26,751 Borrowings 155,914 281,887 Deferred tax liabilities 20,733 17,179 Total non-current liabilities 229,556 345,645 Total liabilities 429,160 633,741 Shareholders' equity Share capital 639,354 798,087 Contributed surplus 38,851 21,394 Accumulated other comprehensive income (loss) 39,117 56,243 Retained earnings (deficit) 95,384 (275,935) Reserves of assets held for sale - 17,431 Total shareholders' equity 812,706 617,220 Total liabilities and shareholders' equity $ 1,241,866 $ 1,250,961Interim Condensed Consolidated Statements of Cash FlowsFor the Six Months Ended June 30, 2025 and 2024(Unaudited)(Expressed in Thousands of Canadian Dollars) Six months ended June 30 2025 2024 Cash flows from operating activities Profit (loss) before income taxes from continuing operations $ 10,565 $ (20,074) Profit (loss) before income taxes from discontinued operations 454,026 26,584 Profit (loss) before income taxes $ 464,591 $ 6,510 Adjustments for: Depreciation of right-of-use assets 4,028 5,677 Depreciation of property, plant and equipment 1,928 2,534 Amortization of intangibles 14,741 20,423 Finance costs (income), net – leases 599 578 Finance costs (income), net – other (1,696) 8,674 Share-based compensation 7,916 11,430 Unrealized foreign exchange (gain) loss (1,162) (1,866) (Gain) loss on investments 6 241 (Gain) loss on disposal of right-of-use assets, property, plant and equipment and intangibles 27 2,042 (Gain) loss on disposal of assets (457,757) - (Gain) loss on equity derivatives 5,407 (5,119) Share of (profit) loss of joint venture (121) (506) Impairment of right-of-use assets, net of (gain) loss on sub-leases 3,534 (322) Net changes in: Operating working capital (7,472) (2,114) Liabilities for cash-settled share-based compensation (5,691) 5,501 Deferred consideration payables - (1,674) Net cash generated by (used in) operations 28,878 52,009 Interest paid on borrowings (3,374) (9,659) Interest paid on leases (599) (578) Interest received 7,280 - Income taxes paid (4,305) (5,149) Income taxes refunded 580 217 Net cash provided by (used in) operating activities 28,460 36,840 Cash flows from financing activities Proceeds from exercise of options 11,984 6,455 Financing fees paid (763) (50) Proceeds from borrowings 50,590 20,000 Repayment of borrowings (177,615) (27,184) Payments of principal on lease liabilities (6,025) (7,853) Dividends paid (12,354) (12,254) Treasury shares purchased for share-based compensation (11,241) (3,563) Cancellation of shares (177,998) - Net cash provided by (used in) financing activities (323,422) (24,449) Cash flows from investing activities Purchase of investments (352) (282) Purchase of intangibles (806) (4,562) Purchase of property, plant and equipment (2,173) (425) Proceeds from investments 5,197 2 Proceeds from sale of discontinued operations, net of cash disposed 655,811 - Income taxes paid on disposal of discontinued operations (20,027) - Net cash provided by (used in) investing activities 637,650 (5,267) Effect of foreign currency translation (10,566) 456 Net increase (decrease) in cash and cash equivalents 332,122 7,580 Cash and cash equivalents, beginning of period 50,592 41,892 Cash and cash equivalents, end of period $ 382,714 $ 49,472 Reconciliation of Profit (Loss) to Adjusted EBITDA and Adjusted Earnings (Loss) The following table provides a reconciliation of Profit (Loss) to Adjusted EBITDA and Adjusted Earnings (Loss): Three months ended June 30, Six months ended June 30, In thousands of dollars, except for per share amounts 2025 2024 (1) 2025 2024 (1) Profit (loss) for the period $ 8,764 $ 2,284 $ 384,548 $ 2,131 (Profit) loss from discontinued operations, net of tax 513 (10,918) (381,694) (22,917) Occupancy costs calculated on a similar basis prior to the adoption of IFRS 16 (2) (2,218) (2,775) (4,431) (5,218) Depreciation of right-of-use assets 1,934 2,194 4,028 4,254 Depreciation of property, plant and equipment and amortization of intangibles (8) 8,372 8,863 16,669 18,224 Acquisition and related transition costs (income) 48 5,373 66 8,869 Unrealized foreign exchange (gain) loss (3) 664 (475) (1,162) (1,746) (Gain) loss on disposal of right-of-use assets, property, plant and equipment and intangibles (3) 15 1,056 27 1,571 Share of (profit) loss of joint venture (352) (664) (121) (506) Non-cash share-based compensation costs (4) 3,807 3,353 6,279 6,886 (Gain) loss on equity derivatives net of mark-to-market adjustments on related RSUs and DSUs (4) 98 417 2,664 (2,174) Restructuring costs (recovery) 920 1,929 7,137 7,105 (Gain) loss on investments (5) (132) 55 6 241 Other non-operating and/or non-recurring (income) costs (6) 2,395 1,573 3,628 2,456 Finance costs (income), net – leases 354 195 599 359 Finance costs (income), net – other (9) (184) 4,534 (1,696) 8,660 Income tax expense (recovery) (10) 3,517 991 7,711 712 Adjusted EBITDA $ 28,515 $ 17,985 $ 44,258 $ 28,907 Depreciation of property, plant and equipment and amortization of intangibles of non-acquired businesses (8) (1,811) (1,494) (2,758) (3,211) Finance (costs) income, net – other (9) 184 (4,534) 1,696 (8,660) (Gain) loss on hedging transactions, including currency forward contracts and interest expense (income) on swaps (9) 1,179 (78) 2,029 (975) Tax effect of adjusted earnings (loss) adjustments (10) (6,176) (5,553) (14,481) (10,092) Adjusted earnings (loss)* $ 21,891 $ 6,326 $ 30,744 $ 5,969 Weighted average number of shares – basic 43,841,362 45,782,032 44,824,199 45,657,634 Weighted average number of restricted shares 91,003 331,672 91,697 375,090 Weighted average number of shares – adjusted 43,932,365 46,113,704 44,915,896 46,032,724 Adjusted earnings (loss) per share (7) $0.50 $0.14 $0.68 $0.13 (1) Comparative figures have been restated to reflect discontinued operations. (2) Management uses the non-GAAP occupancy costs calculated on a similar basis prior to the adoption of IFRS 16 when analyzing financial and operating performance. (3) Included in other operating expenses in the interim condensed consolidated statements of comprehensive income (loss).(4) Included in employee compensation expenses in the interim condensed consolidated statements of comprehensive income (loss).(5) (Gain) loss on investments relates to changes in the fair value of investments in partnerships. (6) Other non-operating and/or non-recurring (income) costs for the three and six months ended June 30, 2025 relate to legal, advisory, consulting, and other professional fees related to organizational and strategic initiatives. These are included in other operating expenses in the interim condensed consolidated statements of comprehensive income (loss).(7) Refer to page 4 of the MD&A for the definition of Adjusted EPS.(8) For the purposes of reconciling to Adjusted Earnings (Loss), the amortization of intangibles of acquired businesses is adjusted from Profit (loss) for the period. Per the quantitative reconciliation above, we have added back depreciation of property, plant and equipment and amortization of intangibles and then deducted the depreciation of property, plant and equipment and amortization of intangibles of non-acquired businesses to arrive at the amortization of intangibles of acquired businesses.(9) For the purposes of reconciling to Adjusted Earnings (Loss), the interest accretion on contingent consideration payables and (gains) losses on hedging transactions and interest expense (income) on swaps is adjusted from Profit (loss) for the period. Per the quantitative reconciliation above, we have added back finance costs (income), net – other and then deducted finance costs (income), net – other prior to adjusting for interest accretion on contingent consideration payables and (gains) losses on hedging transactions and interest expense (income) on swaps.(10) For the purposes of reconciling to Adjusted Earnings (Loss), only the tax impacts for the reconciling items noted in the definition of Adjusted Earnings (Loss) is adjusted from profit (loss) for the of Free Cash Flow Free Cash Flow Three months endedJune 30, Six months endedJune 30, In thousands of dollars 2025 2024 2025 2024 Net cash provided by (used in) operating activities $ 27,755 $ 39,809 $ 28,460 $ 36,840 Less: Capital Expenditures (1,664) (2,272) (2,979) (4,987) Free Cash Flow $ 26,091 $ 37,537 $ 25,481 $ 31,853Constant Currency Three months endedJune 30, 2025 Six months endedJune 30, 2025 As presented For Constant Currency As presented For Constant Currency Canadian Dollar 1.000 1.000 1.000 1.000 United States Dollar 1.384 1.368 1.409 1.358 Pound Sterling 1.847 1.726 1.827 1.718 Euro 1.570 1.472 1.539 1.468 Australian Dollar 0.886 0.902 0.893 0.894 Three months endedJune 30, 2024 Six months endedJune 30, 2024 As presented For Constant Currency As presented For Constant Currency Canadian Dollar 1.000 1.000 1.000 1.000 United States Dollar 1.368 1.343 1.358 1.347 Pound Sterling 1.726 1.681 1.718 1.661 Euro 1.472 1.462 1.468 1.456 Australian Dollar 0.902 0.897 0.894 0.911Sign in to access your portfolio
