In regards to the shares in escrow they don't come out of escrow until march 2008, and they are all held by Movies Online, which is really controlled by two of the directors of Reeltime JK and AM.
Having a 4% share of Movies Online I'm afraid that these two have really buggered up Reeltime, and the only people who are going to make money from this is going to be these two.
It's outrageous that Reeltime can spend so much and not achieve anything worth while. I was hoping that it would be a major player in the online media with the great product which they have to offer and also considering that the broadband is now capable of supporting the product.
I see that a major media company will purchase Reeltime and the return to shareholders will be bugger all.
I hope I'm wrong but I suspect that this will be the case
*** Disclaimer I was one of the 4 founders of Movies Online in 2000 and have substantial holding in Movies Online ****
RMA Price at posting:
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