What does the rpt2rtf.exe program that is included with some applications do?

Various applications include this, including MailStream Plus™, Canadian Code- Plus™ and CODE-1 Plus™ and others, on the Windows Operating System
rpt2rtf.exe simply converts plain text files into rich text format, such as Word and Wordpad can use, in case a user wants the files in that format.

For example, a line like this-
"%G1MSP%\lib\RPT2RTF" -L "%G1MSP%\data\%G1JOB%.RPT" "%G1MSP%\data\%G1JOB%.RPT.RTF" 
reads the plain %G1JOB%.RPT file that the software generates, and rpt2rtf generates %G1JOB%.RPT.RTF as a rich text format file. 
UPDATED:  May 16, 2019