Tillkännagivande • May 14
Reliance Global Group Announces Reverse Stock Split to Regain Compliance with the $1.00 Minimum Bid Price Requirement for Continued Listing on the Nasdaq Capital Market Reliance Global Group, Inc. announced that the Company’s Board of Directors approved a 1-for-40 reverse stock split (the “Reverse Stock Split”) of the Company’s common stock (the “Common Stock”) in order to regain compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market (Rule 5550(a)(2)). The Company was not required to obtain shareholder approval to effectuate the Reverse Stock Split. Reported Earnings • May 11
First quarter 2026 earnings released: US$0.086 loss per share (vs US$0.67 loss in 1Q 2025) First quarter 2026 results: US$0.086 loss per share (improved from US$0.67 loss in 1Q 2025). Revenue: US$3.83m (down 9.7% from 1Q 2025). Net loss: US$1.47m (loss narrowed 15% from 1Q 2025). Tillkännagivande • May 06
Reliance Global Group, Inc. to Report Q1, 2026 Results on May 07, 2026 Reliance Global Group, Inc. announced that they will report Q1, 2026 results on May 07, 2026 Tillkännagivande • Mar 27
Reliance Global Group Launches RELI Exchange 2.0 to Drive Faster, More Efficient Growth Reliance Global Group, Inc. announced the launch of RELI Exchange 2.0, the next phase of its InsurTech platform for independent insurance agencies, designed to expand recruiting capacity, improve execution and position the platform for faster, more efficient growth. In February 2026, Reliance reported that health insurance policies written through RELI Exchange during the 2025 open enrollment period increased 72% year over year, Personal Lines Property and Casualty written premium increased 36% year over year, and the broker network expanded from approximately 65 to approximately 300 agency partners since 2022. RELI Exchange 2.0 is designed to build on that momentum by making the platform faster, more disciplined, and more effective as a growth engine. The upgrade brings recruiting activity into a centralized operating environment with defined pipeline stages, integrated task management, and full communication tracking. Reliance believes these enhancements can support faster follow-up, better prioritization, stronger recruiter productivity, greater outreach capacity, and stronger forecasting, while enabling the Company to manage higher recruiting volumes with greater speed and efficiency as the platform continues to expand. Tillkännagivande • Mar 13
Reliance Global Group, Inc., Annual General Meeting, Apr 29, 2026 Reliance Global Group, Inc., Annual General Meeting, Apr 29, 2026. Reported Earnings • Mar 12
Full year 2025 earnings released: US$1.28 loss per share (vs US$9.01 loss in FY 2024) Full year 2025 results: US$1.28 loss per share (improved from US$9.01 loss in FY 2024). Revenue: US$12.4m (down 12% from FY 2024). Net loss: US$6.99m (loss narrowed 23% from FY 2024). Over the last 3 years on average, the company's earnings growth rate has exceeded its share price growth rate by 5 percentage points per year. Tillkännagivande • Jan 28
Reliance Global Group, Inc. Promotes Moshe Fishman to Senior Vice President, Strategic Ventures Reliance Global Group, Inc. announced the promotion of Moshe Fishman to Senior Vice President, Strategic Ventures. In this expanded role, Mr. Fishman will continue to drive the growth of Reliance’s core insurance and insurtech operations while leading the Company’s efforts to identify and execute opportunities through EZRA Group International (“EZRA”), Reliance’s strategic acquisition initiative. Since joining Reliance in 2021, Mr. Fishman has been a driving force in incorporating technology and artificial intelligence into the Company’s insurance operations, helping modernize workflows, improve data utilization, and support scalable growth through greater operating efficiency. In his new role, Mr. Fishman will lead the execution and scaling of the EZRA platform, including sourcing and evaluating opportunities, structuring and leading transactions, and working closely with acquired companies after closing, while continuing to support day-to-day operations of the Company’s core insurance business. He has been deeply involved throughout the transaction process on current initiatives, working hands-on with counterparties to advance acquisitions from initial structuring through closing and integration. Mr. Fishman has been closely involved in Reliance’s recently announced majority stake acquisition in Scentech Medical, an AI-driven diagnostics company focused on early disease detection, and Enquantum Ltd., a cybersecurity company developing post-quantum encryption and next-generation data protection technologies. New Risk • Jan 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (476% increase in shares outstanding). Market cap is less than US$10m (US$4.09m market cap). Tillkännagivande • Dec 30
An undisclosed buyer completed the acquisition of U.S. Benefits Alliance, LLC and Employee Benefits Solutions, LLC from Reliance Global Group, Inc. (NasdaqCM:RELI). An undisclosed buyer signed a letter of intent to acquire U.S. Benefits Alliance, LLC and Employee Benefits Solutions, LLC from Reliance Global Group, Inc. (NasdaqCM:RELI) on December 11, 2025. The agreement is subject to execution of a definitive purchase agreement, as well as customary closing conditions. The Company expects the transaction to close within the next 30 days as of December 11, 2025. 50% of Net Proceeds to Further Reduce Debt.
An undisclosed buyer completed the acquisition of U.S. Benefits Alliance, LLC and Employee Benefits Solutions, LLC from Reliance Global Group, Inc. (NasdaqCM:RELI) on December 29, 2025. Tillkännagivande • Dec 20
Reliance Global Group Receives Non-Compliance Notice from NASDAQ Reliance Global Group, Inc. (NasdaqCM:RELI) (the “Company”) received a written notice (the “Bid Price Notice”) from the Listing Qualifications department (the “Nasdaq Staff”) of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company is not in compliance with the $1.00 minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”) for continued listing on the Nasdaq Capital Market. The notification of noncompliance had no immediate effect on the listing or trading of the Company’s common stock on The Nasdaq Capital Market under the symbol “RELI,” and the Company is currently monitoring the closing bid price of its common stock and evaluating its alternatives, if appropriate, to resolve the deficiency and regain compliance with this rule. The Nasdaq rules require listed securities to maintain a minimum bid price of $1.00 per share and, based upon the closing bid price for the last 30 consecutive business days as of December 12, 2025, the Company no longer met this requirement. The Bid Price Notice indicated that the Company has been provided 180 calendar days, or until June 10, 2026, in which to regain compliance. If at any time during this period the closing bid price of the Company’s common stock is at least $1.00 per share for a minimum of ten consecutive business days, the Nasdaq Staff will provide the Company with a written confirmation of compliance and the matter will be closed. Alternatively, if the Company fails to regain compliance with Rule 5550(a)(2) prior to the expiration of the 180 calendar day period, but meets the continued listing requirement for market value of publicly held shares and all of the other applicable standards for initial listing on The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and provides written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary, then the Company may be granted an additional 180 calendar days to regain compliance with Rule 5550(a)(2). There can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Requirement, even if it maintains compliance with the other listing requirements. The Company is considering actions that it may take in response to the Bid Price Notice in order to regain compliance with the continued listing requirements, but no decisions regarding a response have been made at this time. Tillkännagivande • Dec 12
An undisclosed buyer signed a letter of intent to acquire U.S. Benefits Alliance, LLC and Employee Benefits Solutions, LLC from Reliance Global Group, Inc. (NasdaqCM:RELI). An undisclosed buyer signed a letter of intent to acquire U.S. Benefits Alliance, LLC and Employee Benefits Solutions, LLC from Reliance Global Group, Inc. (NasdaqCM:RELI) on December 11, 2025. The agreement is subject to execution of a definitive purchase agreement, as well as customary closing conditions. The Company expects the transaction to close within the next 30 days as of December 11, 2025. 50% of Net Proceeds to Further Reduce Debt. Tillkännagivande • Dec 10
Reliance Global Group, Inc. Announces Deploying Additional Cash to Increase Its Zcash (Zec) Position Reliance Global Group, Inc. announced that it has deployed additional cash to increase its Zcash (ZEC) position. This additional allocation to the Company’s Digital Asset Treasury (“DAT”) reflects the Company’s internal view that ZEC may be an institutionally adaptable and technologically resilient privacy-enabled digital asset and may play a meaningful role in its long-term treasury strategy. Zcash’s dual architecture which combines transparent auditability with optional privacy in the Company’s view supports its appeal to organizations seeking digital assets that can be implemented for regulated environments. Reliance’s decision to add to its position reflects the Company’s view that ZEC is supported by technology and a use-case-driven foundation that it believes aligns with long-term treasury and risk management objectives. Tillkännagivande • Nov 20
Reliance Global Group, Inc. Appoints Blake Janover as Chairman of Its Crypto Advisory Board Reliance Global Group, Inc. announced the appointment of Blake Janover, a recognized pioneer in bringing digital assets into public markets, as Chairman of the Companys Crypto Advisory Board (CAB). In this role, Mr. Janover will advise Reliance on its Digital Asset Treasury (DAT) initiative and other blockchain-related strategies designed to accelerate innovation, efficiency, and long-term shareholder value across the Companys InsurTech and financial operations. Mr. Janover is widely regarded as a leader in bringing blockchain and decentralized finance (DeFi) innovation to the public markets. He was the Founder, Chairman, and Chief Executive Officer of Janover, which he took public in 2023 under the ticker Nasdaq: JNVR before leading its transition into Defi Development Corporation, the first publicly traded company to announce a Digital Asset Transformation (DAT) strategy outside of Bitcoin on the Nasdaq or NYSE. He currently serves as Chief Commercial Officer and a Member of the Board of Directors at Defi Development Corporation, where he continues to participate in shaping the integration of decentralized finance within regulated corporate and financial frameworks. Mr. Janover also serves on the Crypto Advisory Board of Caliber Cos, a Nasdaq listed public company and has been featured in Forbes, Bloomberg, and other leading financial media outlets. His most recent work continues to bridge traditional finance and digital assets, making him uniquely positioned to guide Reliances digital asset initiatives. Mr. Janover brings a distinguished record of leadership and innovation. He has more than 20 years of experience as an entrepreneur and operator and has been involved in billions of dollars of commercial property transactions, as well as served as a principal in more than half a billion dollars of equity capital markets transactions. He currently serves as a Member of the Board of Soulpower Acquisition Corp, a SPAC traded on the NYSE and was an Official Member of the Forbes Real Estate Council and an On Deck Proptech and Scale Fellow. He is also a Harvard Business School alumnus (OPM 60), NATSEC Fellow at the National War College Alumni Association, and a Guest Lecturer and Mentor at Reichman Universitys Zell Entrepreneurship Program. As Chairman of the Crypto Advisory Board, Mr. Janover will collaborate with management and the Board of Directors to advance Reliances DAT strategy, digital asset initiatives, and capital markets strategy, aimed at supporting the execution of these programs with discipline and a focus on sustainable value creation. In addition to his DAT advisory role, Mr. Janover will help Reliance explore opportunities to tokenize insurance-linked assets, an emerging blockchain application designed to unlock new avenues for value creation within the insurance-linked marketplace. Reported Earnings • Nov 09
Third quarter 2025 earnings released: US$0.20 loss per share (vs US$0.67 loss in 3Q 2024) Third quarter 2025 results: US$0.20 loss per share. Revenue: US$2.50m (down 28% from 3Q 2024). Net loss: US$1.16m (loss widened 38% from 3Q 2024). Tillkännagivande • Nov 08
Reliance Global Group, Inc. Approves Special Cash Dividend, Payable on or About December 2, 2025 Reliance Global Group, Inc. approved a special cash dividend of $0.03 per share, payable on or about December 2, 2025, to shareholders of record as of October 30, 2025. Tillkännagivande • Nov 04
Reliance Global Group, Inc. to Report Q3, 2025 Results on Nov 06, 2025 Reliance Global Group, Inc. announced that they will report Q3, 2025 results on Nov 06, 2025 Tillkännagivande • Sep 29
Reliance Global Group, Inc. Declares Special Dividend, Payable on or About December 2, 2025 Reliance Global Group, Inc. announced that its Board of Directors has declared a special cash dividend of $0.03 per common share, payable on or about December 2, 2025, to stockholders of record as of October 30, 2025. Tillkännagivande • Aug 14
Reliance Global Group, Inc. has filed a Follow-on Equity Offering in the amount of $2.026453 million. Reliance Global Group, Inc. has filed a Follow-on Equity Offering in the amount of $2.026453 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Reported Earnings • Aug 01
Second quarter 2025 earnings released: US$0.85 loss per share (vs US$2.76 loss in 2Q 2024) Second quarter 2025 results: US$0.85 loss per share. Revenue: US$3.09m (down 4.5% from 2Q 2024). Net loss: US$2.71m (loss widened 82% from 2Q 2024). Tillkännagivande • Jun 19
Reliance Global Group, Inc. announced that it expects to receive $2.500001 million in funding Reliance Global Group, Inc. announced that it has entered into a definitive agreement to issue 1,488,096 common shares or pre-funded warrants at an issue price of $1.68 and short-term warrants to purchase up to an aggregate of 2,976,192 shares of common stock for gross proceeds of $2,500,001.28, before deducting placement agent fees and other offering expenses payable by the company on June 18, 2025. The warrants exercise price is of $1.43and will expire two years from the effective date of the resale registration statement. The offering is expected to close on or about June 20, 2025, subject to the satisfaction of customary closing conditions. The shares of common stock, pre-funded warrants and short-term warrants were offered in a private placement under section 4(a)(2) of the securities act of 1933, as amended and Regulation D promulgated thereunder and, along with the shares of common stock underlying the pre-funded warrants and short-term warrants, have not been registered under the Act or applicable state securities laws. New Risk • Jun 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 26% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$2.2m free cash flow). Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 16% per year over the past 5 years. Shareholders have been substantially diluted in the past year (493% increase in shares outstanding). Market cap is less than US$10m (US$3.51m market cap). Reported Earnings • May 15
First quarter 2025 earnings released: US$0.67 loss per share (vs US$13.84 loss in 1Q 2024) First quarter 2025 results: US$0.67 loss per share (improved from US$13.84 loss in 1Q 2024). Revenue: US$4.24m (up 3.8% from 1Q 2024). Net loss: US$1.74m (loss narrowed 68% from 1Q 2024). Tillkännagivande • Apr 16
Reliance Global Group, Inc., Annual General Meeting, May 29, 2025 Reliance Global Group, Inc., Annual General Meeting, May 29, 2025. Tillkännagivande • Mar 20
Reliance Global Group, Inc. Launches Reli Auto Leasing Reliance Global Group, Inc. announced the launch of RELI Auto Leasing, a groundbreaking service that enables RELI Exchange Agency Partners to seamlessly offer vehicle leasing to their clients while earning commissions on both the lease and the residual insurance policy. This innovative initiative reinforces the Company’s commitment to expanding revenue opportunities for agency partners while maintaining a strong focus on insurance services. Home and auto policies are the core products of personal lines insurance. When clients seek a new vehicle, their insurance agent is often part of the discussion, advising on coverage options and facilitating policy transitions. After a vehicular accident, clients often look toward their insurance agent to discuss how to approach their replacement vehicle. Using their newly launched RELI Auto Leasing, insurance agents can now connect clients to vehicle leasing options without stepping outside their core business. Clients benefit from a wide selection of vehicles, all available for delivery anywhere in the U.S., offering unmatched convenience. Whether seeking a new lease or upgrading a current vehicle, clients are now able to enjoy a streamlined process with guidance from a trusted insurance advisor. By bridging the gap between auto leasing and insurance, RELI Exchange empowers agency partners to deepen client relationships, foster long-term loyalty, and generate additional income—without added complexity. Reported Earnings • Mar 07
Full year 2024 earnings released: US$9.01 loss per share (vs US$75.74 loss in FY 2023) Full year 2024 results: US$9.01 loss per share (improved from US$75.74 loss in FY 2023). Revenue: US$14.1m (up 2.3% from FY 2023). Net loss: US$9.07m (loss narrowed 28% from FY 2023). Tillkännagivande • Feb 18
Reliance Global Group Expands Reliance Global Group, Inc. Commercial Quote & Bind InsurTech Platform Following Successful Beta Launch Reliance Global Group, Inc. announced a significant expansion of its Commercial Quote & Bind InsurTech solution on RELI Exchange, building off the highly successful beta launch late last year. This expansion brings additional carriers and more product offerings to RELI Exchange's agent distribution channel, with plans to continuously introduce new lines of business and carriers in the coming months. New Risk • Feb 13
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$45k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$2.5m free cash flow). Share price has been highly volatile over the past 3 months (50% average weekly change). Earnings have declined by 19% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 5x increase in shares outstanding). Market cap is less than US$10m (US$3.00m market cap). Minor Risk Significant insider selling over the past 3 months (US$45k sold). New Risk • Nov 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$2.5m free cash flow). Earnings have declined by 19% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 10x increase in shares outstanding). Market cap is less than US$10m (US$2.21m market cap). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Reported Earnings • Nov 10
Third quarter 2024 earnings released: US$0.67 loss per share (vs US$0.78 loss in 3Q 2023) Third quarter 2024 results: US$0.67 loss per share. Revenue: US$3.44m (up 5.1% from 3Q 2023). Net loss: US$837.3k (loss widened US$698.3k from 3Q 2023). Tillkännagivande • Oct 01
Reliance Global Group Launches Beta Version of Advanced Quote & Bind InsurTech Solution for Commercial Policies, Head of Schedule Reliance Global Group, Inc. announced the official launch of the beta version of its highly anticipated AI-powered Quote & Bind InsurTech solution for commercial policies. Initially scheduled for release in Fourth Quarter 2024, the new solution has been launched ahead of schedule, giving RELI Exchange agency partners immediate access to this cutting-edge technology. The solution, now live on the RELI Exchange platform, enables agents to generate real-time quotes and bind commercial insurance policies instantly from their dashboard. This advanced system covers a wide range of commercial insurance lines, including workers' compensation, general liability, cyber liability, business owner's policies, and executive coverages such as directors & officers (D&O) insurance and employment practices liability insurance (EPLI). The early launch of the Quote & Bind solution is set to rapidly enhance revenue streams for RELI Exchange partners by streamlining the traditionally labor-intensive quoting process for commercial policies. Agents can now offer clients faster, more competitive quotes and bind coverage instantly, transforming how commercial insurance is transacted with the help of AI automation. With the solution now in beta, RELI Exchange is already gathering valuable feedback from its users to refine and enhance the platform. The Company expects this AI-driven feature to contribute significantly to premium volume growth and anticipates millions of dollars in new premiums being added to its books in the coming year. Board Change • Aug 15
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Sheldon Brickman was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Jul 30
Reliance Global Group, Inc. Announces Advanced Quote & Bind InsurTech Solution for Commercial Policies Launching in Fourth Quarter 2024 Reliance Global Group, Inc. unveiled its new, advanced AI-powered Quote & Bind cutting-edge InsurTech solution for commercial policies, designed to significantly enhance the capabilities of RELI Exchange agency partners. The Company plans to launch the new offering in the fourth quarter of 2024. The new Quote & Bind solution, integrated within the RELI Exchange platform, leverages artificial intelligence, enabling agents to provide real-time commercial insurance quotes from multiple carriers and bind policies in real time from the RELI Exchange agent dashboard. These new commercial lines of insurance include workers' compensation, business owners, general liability, cyber liability, and inland marine, as well as executive lines, such as directors & officers (D&O) insurance and employment practices liability insurance (EPLI). Tillkännagivande • Jul 26
Reliance Global Group, Inc. Provides Revenue Guidance for the Year 2024 Reliance Global Group, Inc. provided revenue guidance for the year 2024. For the year, the company projects to double annual revenue to Approximately $28 Million. Tillkännagivande • May 17
Reliance Global Group, Inc. announced delayed 10-Q filing On 05/15/2024, Reliance Global Group, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Tillkännagivande • May 16
Reliance Global Group, Inc. (NasdaqCM:RELI) signed a definitive agreement to acquire 80% stake in Spetner Associates, Inc. from Jonathan Spetner and Michelle Spetner for $13.7 million. Reliance Global Group, Inc. (NasdaqCM:RELI) signed a definitive agreement to acquire 80% stake in Spetner Associates, Inc. from Jonathan Spetner and Michelle Spetner for $13.7 million on May 14, 2024. Under the agreement, Reliance Global Group acquire eighty percent (80%) of the issued and outstanding shares (24,000 Shares) of common stock, par value $1.00 per share, of Spetner (the “Spetner Common Stock”) for the amount of $13,714,286.00 (which shall be paid in $8 million cash, the issuance of certain shares of common stock of the Company, and the issuance of a promissory note of the Company); and (ii) have the sole option to acquire the remaining twenty percent (20% i.e 6000 shares) of the Spetner Common Stock for the amount that is equal to the product of ten (10) times twenty percent (20%) of Spetner’s final annual EBITDA (as defined in the Agreement) for the most recently completed fiscal year prior to the fiscal year in which the Company elects to exercise such option to acquire additional shares of Spetner Common Stock. In connection with the transactions contemplated by the Agreement, the Company shall undertake a private or public offering of the Company’s shares of common stock with the goal of raising approximately $10 million in net proceeds. The closing of the transaction is subject to approval from Board of Directors of Reliance Global Group and the effectiveness of registration statement by SEC.
Laura Anthony of Anthony, Linder & Cacomanolis, PLLC acted as legal advisor for Reliance Global and Albert S. Watkins and Kodner Watkins of K&W acted as legal advisors for Spetner. Tillkännagivande • Apr 02
Reliance Global Group, Inc. announced delayed annual 10-K filing On 04/01/2024, Reliance Global Group, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Tillkännagivande • Feb 16
Reliance Global Group, Inc. has filed a Follow-on Equity Offering in the amount of $0.858637 million. Reliance Global Group, Inc. has filed a Follow-on Equity Offering in the amount of $0.858637 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Tillkännagivande • Jan 17
Reliance Global Group Receives Non-Compliance Notice from Nasdaq On January 12, 2024, Reliance Global Group, Inc. (the “Company”) received a written notice (the “Bid Price Notice”) from the Listing Qualifications department (the “Nasdaq Staff”) of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company is not in compliance with the $1.00 minimum bid price requirement set in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”) for continued listing on the Nasdaq Capital Market. The notification of noncompliance had no immediate effect on the listing or trading of the Company’s common stock on The Nasdaq Capital Market under the symbol “RELI,” and the Company is currently monitoring the closing bid price of its common stock and evaluating its alternatives, if appropriate, to resolve the deficiency and regain compliance with this rule. The Nasdaq rules require listed securities to maintain a minimum bid price of $1.00 per share and, based upon the closing bid price for the last 30 consecutive business days as of January 12, 2024, the Company no longer met this requirement. The Bid Price Notice indicated that the Company has been provided 180 calendar days, or until July 10, 2024, in which to regain compliance. If at any time during this period the closing bid price of the Company’s common stock is at least $1.00 per share for a minimum of ten consecutive business days, the Nasdaq Staff will provide the Company with a written confirmation of compliance and the matter will be closed. Alternatively, if the Company fails to regain compliance with Rule 5550(a)(2) prior to the expiration of the 180 calendar day period, but meets the continued listing requirement for market value of publicly held shares and all of the other applicable standards for initial listing on The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and provides written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary, then the Company may be granted an additional 180 calendar days to regain compliance with Rule 5550(a)(2). There can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Requirement, even if it maintains compliance with the other listing requirements. The Company is considering actions that it may take in response to the Bid Price Notice in order to regain compliance with the continued listing requirements, but no decisions regarding a response have been made at this time. Tillkännagivande • Nov 22
Reliance Global Group, Inc. has withdrawn its Follow-on Equity Offering. Reliance Global Group, Inc. has withdrawn its Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock Tillkännagivande • Nov 21
Reliance Global Group, Inc. has filed a Follow-on Equity Offering. Reliance Global Group, Inc. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock Reported Earnings • Nov 16
Third quarter 2023 earnings released: US$0.046 loss per share (vs US$5.27 profit in 3Q 2022) Third quarter 2023 results: US$0.046 loss per share (down from US$5.27 profit in 3Q 2022). Revenue: US$3.28m (down 21% from 3Q 2022). Net loss: US$139.0k (down 102% from profit in 3Q 2022). New Risk • Nov 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 23% per year over the past 5 years. Shareholders have been substantially diluted in the past year (105% increase in shares outstanding). Market cap is less than US$10m (US$3.64m market cap). Tillkännagivande • Oct 05
Reliance Global Group, Inc., Annual General Meeting, Nov 14, 2023 Reliance Global Group, Inc., Annual General Meeting, Nov 14, 2023, at 12:30 US Eastern Standard Time. Agenda: To elect the five nominees for director named herein to its Board of Directors, each to serve a one-year term expiring at the 2024 Annual Meeting of Stockholders and until such director's successor is duly elected and qualified; to approve the amendment of the Articles of Incorporation, as amended, to increase the total number of authorized shares of our common stock, USD 0.086 par value per share, from 133,333,333 shares to 2,000,000,000 shares; to approve the 2023 Equity Incentive Plan; and to transact such other business as may properly come before the 2023 Annual Stockholder Meeting or any adjournments or postponements of the 2023. Board Change • Sep 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Sheldon Brickman was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Aug 15
Price target increased by 75% to US$7.00 Up from US$4.00, the current price target is provided by 1 analyst. New target price is 152% above last closing price of US$2.78. Stock is down 80% over the past year. The company posted a net loss per share of US$0.42 last year. Tillkännagivande • Aug 09
Reliance Global Group, Inc. to Report Q2, 2023 Results on Aug 10, 2023 Reliance Global Group, Inc. announced that they will report Q2, 2023 results on Aug 10, 2023 Tillkännagivande • May 16
Reliance Global Group, Inc. announced delayed 10-Q filing On 05/15/2023, Reliance Global Group, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Breakeven Date Change • Apr 06
No longer forecast to breakeven The analyst covering Reliance Global Group no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of US$863.0k in 2023. New forecast suggests the company will make a loss of US$5.63m in 2023. Reported Earnings • Apr 02
Full year 2022 earnings released: EPS: US$5.91 (vs US$31.34 loss in FY 2021) Full year 2022 results: EPS: US$5.91 (up from US$31.34 loss in FY 2021). Revenue: US$16.8m (up 73% from FY 2021). Net income: US$6.47m (up US$27.6m from FY 2021). Profit margin: 39% (up from net loss in FY 2021). Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Insurance industry in the US. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to US$4.25, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 15x in the Insurance industry in the US. Total loss to shareholders of 99% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorates as stock falls 38% After last week's 38% share price decline to US$5.15, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 16x in the Insurance industry in the US. Total loss to shareholders of 99% over the past three years. Tillkännagivande • Feb 15
Reliance Global Group, Inc. Expands its RELI Exchange Artificial Intelligence-Based InsurTech Platform with CRM Integration Reliance Global Group, Inc. announced that it has significantly enhanced its AI-based, InsurTech platform with new customer relationship management (CRM) tools to further enhance workflow, streamline operations, and reduce costs for insurance agency partners utilizing RELI Exchange. Tillkännagivande • Feb 02
Reliance Global Group Announces Real-Time Life Insurance Quotes are Now Available through its InsurTech Platforms Reliance Global Group, Inc. announced that it has added a real-time, life insurance quotation tool to both its RELI Exchange and 5Minuteinsure.com platforms. The tool displays life insurance quotes from more than 15 life insurance companies, and builds upon the Company’s successful home and auto insurance offerings. Reported Earnings • Nov 17
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: US$0.35 (up from US$0.054 loss in 3Q 2021). Revenue: US$4.15m (up 61% from 3Q 2021). Net income: US$6.12m (up US$6.72m from 3Q 2021). Revenue missed analyst estimates by 26%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 63% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Insurance industry in the US. Tillkännagivande • Sep 30
Reliance Global Group Receives Written Notice from the Listing Qualifications Department of Nasdaq Regarding Minimum Bid Price Requirement On September 27, 2022, Reliance Global Group, Inc. ("the Company") received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that for the preceding 30 consecutive business days (August 15, 2022 through September 26, 2022), the Company's common stock did not maintain a minimum closing bid price of $1.00 ("Minimum Bid Price Requirement") per share as required by Nasdaq Listing Rule 5550(a)(2). The notice has no immediate effect on the listing or trading of the Company's common stock and the common stock will continue to trade on The Nasdaq Capital Market under the symbol "RELI". In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days, or until March 27, 2023, to regain compliance with Nasdaq Listing Rule 5550(a)(2). Compliance may be achievedautomatically and without further action if the closing bid price of the Company's common stock is at or above $1.00 for a minimum of ten consecutive business days at any time during the 180-day compliance period, in which case Nasdaq will notify the Company of its compliance and the matter will be closed. If, however, the Company does not achieve compliance with the Minimum Bid Price Requirement by March 27, 2023, the Company may be eligible for additional time to comply. In order to be eligible for such additional time, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and must notify Nasdaq in writing of its intention to cure the deficiency during the second compliance period. The Company intends to actively monitor the bid price of its common stock and will consider available options to regain compliance with the Nasdaq listing requirements, including such actions as effecting a reverse stock split to maintain its Nasdaq listing. Tillkännagivande • Sep 22
Reliance Global Group, Inc., Annual General Meeting, Oct 27, 2022 Reliance Global Group, Inc., Annual General Meeting, Oct 27, 2022, at 12:00 US Eastern Standard Time. Location: offices of the Company, 300 Blvd. of the Americas, Suite 105 Lakewood New Jersey United States Agenda: To elect the five (5) nominees for director named herein to our Board of Directors, each to serve a one-year term expiring at the 2023 Annual Meeting of Stockholders and until such director’s successor is duly elected and qualified; to ratify the appointment of Mazars USA LLP as independent registered public accounting firm for fiscal year ending on December 31, 2022; to approve, on an advisory basis, the compensation of our named executive officers, as disclosed in this proxy statement; to recommend, on an advisory basis, a three-year frequency for holding an advisory vote on executive compensation; and to transact such other business as may properly come before the 2022 Annual Meeting or any adjournments or postponements of the 2022 Annual Meeting. Recent Insider Transactions • Sep 15
CEO & Executive Chairman recently bought US$100k worth of stock On the 13th of September, Ezra Beyman bought around 119k shares on-market at roughly US$0.84 per share. This transaction amounted to 98% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ezra has been a buyer over the last 12 months, purchasing a net total of US$178k worth in shares. Reported Earnings • Aug 16
Second quarter 2022 earnings: EPS in line with expectations, revenues disappoint Second quarter 2022 results: EPS: US$0.56 (up from US$0.12 loss in 2Q 2021). Revenue: US$4.21m (up 92% from 2Q 2021). Net income: US$10.5m (up US$11.8m from 2Q 2021). Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) exceeded analyst estimates. Over the next year, revenue is forecast to grow 101%, compared to a 1.1% growth forecast for the Insurance industry in the US. Tillkännagivande • Aug 03
Reliance Global Group, Inc. Provides Revenue Guidance for the Second Quarter of 2022 Reliance Global Group, Inc. provided revenue guidance for the second quarter of 2022. For the quarter, the company currently expects revenue to be approximately double compared to the same period last year. Tillkännagivande • Jul 12
Reliance Global Group Launches RELI Exchange Reliance Global Group, Inc. announced the launch of RELI Exchange a business-to-business (B2B) InsurTech platform and agency partner network for insurance agents and agencies. RELI Exchange is a first-in-class technologyplatform and agency partner network. For agents and agencies that join network, RELI Exchange is designed to provide instant and competitive insurance quotes from more than thirty insurance carriers nationwide. Theplatform reduces back-office burden and expenses by eliminating paperwork, thereby providing agents more time to focus on selling policies. RELI Exchange builds on the artificial intelligence and data mining backbone of 5MinuteInsure.com a platform designed to target the direct-to-consumer market. Tillkännagivande • Jun 01
Reliance Global Group Appoints Senior Corporate Finance Executive William Lebovics as Chief Financial Office, Effective June 1, 2022 Reliance Global Group, Inc. announced the appointment of Mr. William Lebovics as Chief Financial Officer, effective June 1, 2022. Mr. Blumenfrucht, who previously served as Chief Financial Officer, will continue as a member of the Company’s Board of Directors and will provide support through the transition period. Among his accomplishments, Mr. Lebovics served as the Finance Manager for IDW Media Holdings, where he was responsible for dealing with financial reporting, financing, and M&A, as well as other finance related operations. Additionally, Mr. Lebovics served as Director of Business Development at IDT Corporation. Mr. Lebovics brings extensive corporate finance experience, including senior roles at PwC and Nippon Life Global Investors. Mr. Lebovics has an MS in Accounting from Fairleigh Dickenson University, an MS in Real Estate with a concentration in Finance and Investment from NYU, and a BS in Business Management from Touro College. Tillkännagivande • Apr 28
Reliance Global Group, Inc. (NasdaqCM:RELI) acquired Barra & Associates Llc for $7.5 million. Reliance Global Group, Inc. (NasdaqCM:RELI) acquired Barra & Associates Llc for $7.5 million on April 27, 2022. Following the transaction, Grant Barra, founder and CEO of Barra & Associates, will continue to oversee the Barra & Associatessubsidiary, as well as other senior responsibilities within the Company.
Reliance Global Group, Inc. (NasdaqCM:RELI) completed the acquisition of Barra & Associates Llc on April 27, 2022. Buying Opportunity • Apr 07
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 41%. The fair value is estimated to be US$4.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Earnings per share has declined by 6.1%. Revenue is forecast to grow by 112% in a year. Earnings is forecast to grow by 95% in the next year. Reported Earnings • Mar 31
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: US$2.09 loss per share (down from US$0.88 loss in FY 2020). Revenue: US$9.71m (up 33% from FY 2020). Net loss: US$21.1m (loss widened 470% from FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 533%. Over the next year, revenue is forecast to grow 130% while the insurance industry in the US is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Breakeven Date Change • Mar 31
Forecast to breakeven in 2023 The analyst covering Reliance Global Group expects the company to break even for the first time. New forecast suggests the company will make a profit of US$863.0k in 2023. Average annual earnings growth of 139% is required to achieve expected profit on schedule. Tillkännagivande • Feb 06
Reliance Global Group, Inc. Appoints Joel Markovits as Its Chief Accounting Officer On February 1, 2022, Reliance Global Group, Inc.’s board appointed Joel Markovits as its chief accounting officer. Joel Markovits, chief accounting officer joined Reliance in June 2021 and brings over 10 years’ accounting and financial reporting experience in both the public and private sectors. Tillkännagivande • Jan 12
Reliance Global Group, Inc. (NasdaqCM:RELI) completed the acquisition of Medicare supplement and related health insurance business of Medigap Healthcare, LLC. Reliance Global Group, Inc. (NasdaqCM:RELI) entered into an asset purchase agreement to acquire Medicare supplement and related health insurance business of Medigap Healthcare, LLC. for $20.1 million on December 21, 2021. Reliance Global will acquire certain assets and business of Medigap Healthcare in the transaction. Pursuant to the agreement the consideration consisted of a purchase price of approximately $16.6 million in cash and shares of common stock of the Company worth approximately $2.9 million (valued based upon the average closing price of a share of the Company’s common stock for 180 trading days prior to closing) to be issued. Cash portion and one third of the shares were paid at closing. one third of the shares were paid on the first anniversary of the closing date and remaining one third of the shares were paid on the second anniversary of the closing date. However, the agreement was amended and as per the amendments made on December 22, 2021, the cash portion of the purchase price was increased to $18.1 million and the total purchase price is increased to $20.1 million; and the number of shares of Company common stock being issued is reduced to approximately1.96 million, with half being released from lockup on December 21, 2022 and the balance being released from lockup on December 21, 2023. Kyle Perrin will remain Chief Operating Officer of Medigap. Medigap generated revenue of approximately $7 million for the trailing twelve months ended September 30, 2021. The acquisition is contingent upon Reliance Global's ability to close on financing proceeds sufficient to pay the cash purchase price for the business being sold plus working capital and other customary closing conditions. The acquisition is expected to close on or before April 1, 2022. Menachem M. Bensinger of McGrail & Bensinger LLP acted as legal advisor to Reliance Global Group, Inc.
Reliance Global Group, Inc. (NasdaqCM:RELI) completed the acquisition of Medicare supplement and related health insurance business of Medigap Healthcare, LLC. on January 11, 2022. Tillkännagivande • Jan 07
Reliance Global Group, Inc. announced that it has received $19.999948 million in funding On January 5, 2022, Reliance Global Group, Inc. closed the transaction. Tillkännagivande • Dec 01
Reliance Global Group, Inc. Launches 5MinuteInsure.com in Missouri, Alabama, Iowa and West Virginia Reliance Global Group, Inc. announced that it has successfully launched 5MinuteInsure.com in Missouri, Alabama, Iowa and West Virginia. 5MinuteInsure.com is a platform developed by Reliance Global that provides an easy and efficient way to shop and buy insurance. Using artificial intelligence and data mining, 5MinuteInsure.com provides consumers with competitive insurance quotes in under 2 minutes, with the ability to bind coverage within 5 minutes. Consumers can compare live quotes for auto insurance between multiple carriers as well as instantly purchase coverage on the same single platform. Tillkännagivande • Sep 15
Reliance Global Group, Inc. Announces Successful Launch of 5MinuteInsure.Com in Ohio Reliance Global Group, Inc. announced that it has successfully launched 5MinuteInsure.com in Ohio, the first state in the Company’s planned nationwide rollout. 5MinuteInsure.com is a tool developed by Reliance Global that utilizes artificial intelligence and data mining to provide competitive insurance quotes in under 2 minutes, with the ability to bind coverage within 5 minutes, with minimal data input via a smartphone, tablet or computer. 5MinuteInsure.com combines the best of a traditional insurance agency, including the option for direct agent interaction, with the ability to bind a policy online. Through 5MinuteInsure.com, consumers can compare live quotes for auto insurance between multiple carriers, as well as instantly purchase coverage on the same single platform. This is a major differentiating factor from lead generator comparison sites that compare non-binding quotes and often sell personal information to third-party providers. Tillkännagivande • Aug 18
Reliance Global Group, Inc. announced delayed 10-Q filing On 08/17/2021, Reliance Global Group, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Tillkännagivande • Jun 25
Reliance Global Group, Inc.(NasdaqCM:RELI) dropped from NASDAQ Telecom Index Reliance Global Group, Inc. has been removed from NASDAQ Telecom Index . Tillkännagivande • Jun 09
Reliance Global Group Schedules Commercial Launch of 5Minuteinsure.Com for Third Quarter 2021; Demo Video Now Available Online Reliance Global Group, Inc. announced plans for the commercial launch of its 5minuteinsure.com platform in Third Quarter 2021 and reports that its new demo video is available on the Companys website. 5minuteinsure.com is designed to utilize artificial intelligence (AI) to provide competitive insurance quotes online within five minutes, with minimal data input by the customer. 5minuteinsure.com combines the best of a traditional insurance agency, including the option for direct agent interaction with the ability to bind a policy either online or offline. Reported Earnings • May 16
First quarter 2021 earnings released: US$0.085 loss per share (vs US$0.34 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: US$2.30m (up 15% from 1Q 2020). Net loss: US$641.3k (loss narrowed 35% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • May 14
Reliance Global Group, Inc. (NasdaqCM:RELI) acquired J.P. Kush and Associates, Inc. for $2 million. Reliance Global Group, Inc. (NasdaqCM:RELI) acquired J.P. Kush and Associates, Inc. for $2 million on May 12, 2021. The acquisition price was $1.95 million which includes an upfront cash provided by the Company in the amount of $1.9 million and shares of restricted Company common stock with a value of $0.05 million. Earn-Out Payment 1 and Bonus Shares. If the NPLR for Year 1 is equal to or greater than Six Hundred Fifty Thousand 00/100 Dollars ($650,000) (the “Year 1 Benchmark”), Purchaser shall pay to Owner an earm-out amount equal to two and one half (2.5) times the amount of NPLR in excess of the Year 1 Benchmark (the “Earn-Out Amount 1”). Seventy-five percent (75%) of Earn-Out Amount | shall be paid to Owner in cash, with the remaining balance paid in form of restricted shares of common stock in RELI (the *Earn-Out Shares 1”). The Earn Out Shares 1 shall be valued based on the closing price on the NASDAQ Stock Market on April 30. 20. In addition to Earn-Out Amount 1. if the NPLR for Year 1 exceeds Nine Hundred Thousand Dollars ($900,000). then Purchaser shall pay to Owner additional restricted shares of common stock in RELI equal to Fifty Thousand Dollars ($50,000) (the “Bonus Shares”). The Bonus Shares shall be valued based on the closing price on the
NASDAQ Stock Market on April 30, 2022. The resale of the Earn-Out Shares 1 and Bonus Shares shall be restricted for a period of six (6) months. Earn-Out Payment 2. If the NPLR for Year 2 is equal to or greater than the greater of the Benchmark or NPLR in Year 1 (the “Year 2 Benchmark”). Purchaser shall pay to Owner an eamn-out amount equal to two and one half (2.5) times the amount of NPLR in excess of the Year 2 Benchmark (the “Earn-Out Amount 2”). Seventy-five percent (75%) of Earn-Out Amount 2 shall be paid to Owner in cash, with the remaining balance paid in form of restricted shares of common stock in RELI (the “Earn-Out Shares 2°). The Eam-Out Shares 2 shall be valued based on the closing price on the NASDAQ Stock Market on April 30, 2023. The resale of the Earn-Out Shares 2 shall be restricted for a period of six (6) months. Earn-Out Payment 3. If the NPLR for Year 3 is equal to or greater than the greater of the Benchmark or NPLR in Year 2 (the “Year 3 Benchmark.” and together with the Year 1 Benchmark and the Year 2 Benchmark, the “Benchmarks”), Purchaser shall pay to Owner an earn-out amount equal to two and one half (2.5) times the amount of NPLR in excess of the Year 3 Benchmark (the “Earn-Out Amount 3”). Seventy-five percent (75%) of Earn-Out Amount 3 shall be paid to Owner in cash, with the remaining balance paid in form of restricted shares of common stock in RELI (the “Earn-Out Shares 3.” and together with Earn-Out Shares 2 and Earn-Out Shares 3, “Earn-Out Shares. The Earn-Out Shares 3 shall be valued based on the closing price on the NASDAQ Stock Market on April 30. 2024. The resale of the Earn-Out Shares 3 shall be restricted for a period of six (6) months. The purchase has been funded through a combination of cash, restricted stock and an earnout. J.P. Kush generated revenue of more than $1.1 million over the trailing twelve months with mid-double digit operating margins. J.P. Kush’s founder, Joshua Kushnereit, will become part of the Reliance Global family as Chief Operating Officer of the new Kush Benefits Solutions, LLC, which is now a wholly owned subsidiary of Reliance Global Group, Inc. The transaction has the potential to be highly accretive. William B. Helbling and David M. Mosier of Knox McLaughlin Gornall & Sennett, P.C. acted as legal advisor to Yaakov Beyman and Erie A. Zacks and Thomas Kelly of Wolfson Bolton PLLC acted as legal advisor to Joshua Kushnerett.
Reliance Global Group, Inc. (NasdaqCM:RELI) completed the acquisition of J.P. Kush and Associates, Inc. on May 12, 2021. Reported Earnings • Mar 25
Full year 2020 earnings released: US$0.88 loss per share (vs US$1.22 loss in FY 2019) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2020 results: Revenue: US$7.28m (up 64% from FY 2019). Net loss: US$3.70m (loss widened 5.8% from FY 2019). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 132% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Feb 25
Reliance Global Group Announces Appointment of Moshe Fishman as Director of Insurance Operations Reliance Global Group, Inc. announced the appointment of Moshe Fishman as Director of Insurance Operations. In this role, he will help oversee the integration of insurance agencies, as well as the rollout of the Company’s new 5MinuteInsure.com platform. Prior to joining Reliance Global Group, Mr. Fishman served as President of Tekeno Financial, LLC, which offers a variety of insurance products and annuities. While at Tekeno, Mr. Fishman structured a variety of unique no load fee insurance products to compete with low yielding bank products. He was also responsible for developing online and national media marketing strategies. Previously, he founded CoverageX LLC, an online platform for comparing, selecting, purchasing and servicing insurance policies. Mr. Fishman also served as President of Fishman Insurance Agency, a property and casualty insurance agency servicing the commercial real estate market.