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10Q is out
That's part of the problem. All those insurance deals have closed, and look where we are....Nowhere Is this latest deal that much bigger than all of those put together? We have no way of really knowing
We are excited to announce this planned acquisition, which we believe will be a true game changer for our business. Specifically, the target agency reports over 145 affiliated offices in approximately 40 states nationwide. In addition, they have established relationships with over 120 well-known local and national carriers. The target agency has experienced steady organic growth and is generating over $150 million in recurring annual premiums. In addition, the audited financials for the company reflect over $2.5 million in net income in 2019, and we anticipate the transaction will be immediately accretive to our earnings. Moreover, the combination of this target acquisition with the cash flow of our existing portfolio, should ensure very strong, positive cash flow of the combined entities going forward.”
If you click on this link https://www.relianceglobalgroup.com/index.php
Scroll down and you will see all the Insurance acquisitions $RELI has acquired to date.
If you click on the logo of each company, you will get to know what each one of them is all about.
This does not include the last PR with the huge LOI that we are all looking forward to.
I want this to be true more than anyone on the planet. However if it were actually true, the stock wouldn't be sitting at a new 52 week low. It would at the very least have some semblance of strength.
There are 2 insurance LOI’s that didn’t close. Both were with agencies that I know personally. Both would never resolve to sell their businesses to $RELI. There simply in no upside.
Yes you are correct..expected is not a promise. I submit to you then, they shouldn't have mentioned a date st all. It only serves as the same shit different day than all the other LOIs that were bogus....subliminally you have already braced for them to miss the year...
The expected date shouldn’t have even been mentioned if they weren’t 100% certain they could meet that date. If that expected date is not met it will be another major stab in the heart of investor sentiment...
Public companies do not make guarantees they expect. I would appreciate it if you can show me big companies PR guaranteeing something. It sounds ridiculous to me. Let's not attack the company before the due date.
Once again, I want to remind you that they closed all their insurance LOI's and I believe they are working very hard on this big LOI. It is up to each one of you to decide what they want to believe and decide what course of action they want to take.
At this point holding is about the only option left, except for an occasional buy when it goes sub dime again....For now what a mess. Let's see if they consummate that LOI before year's end as promised...
The wording in the PR are The acquisition is expected to close before the December 31, 2020 fiscal year end subject to certain closing conditions, with due diligence well underway.
Nope bid OTCX .0951 12k ask ETRF .106 39K
Indeed. He does know insurance. Fingers crossed.
Goose head killing it today
We are excited to announce this planned acquisition, which we believe will be a true game changer for our business. Specifically, the target agency reports over 145 affiliated offices in approximately 40 states nationwide. In addition, they have established relationships with over 120 well-known local and national carriers. The target agency has experienced steady organic growth and is generating over $150 million in recurring annual premiums. In addition, the audited financials for the company reflect over $2.5 million in net income in 2019, and we anticipate the transaction will be immediately accretive to our earnings. Moreover, the combination of this target acquisition with the cash flow of our existing portfolio, should ensure very strong, positive cash flow of the combined entities going forward.”
Right now $RELI is waiting to hear from the $SEC. November 8th will be 30 days since they applied for form S1, so let's hope we hear something around that time. In the meantime they are observing the "waiting period" mandated by the SEC and are restricted with what they can PR.
If you are a long you might want to check the updates on their website. You can start here.
https://www.5minuteinsure.com/
Good luck.
$RELI ... $0.02 cents in a hop skip and a jump. Probably the most predictable short sell ever.
Reverse split, rinse repeat, repeat rinse
Is RELI a good stock?
Yes, the majority.
DANG! HE BOT THE FLOAT HUGE!
https://finance.yahoo.com/news/iqst-iqstel-announces-134-ytd-125500063.html
NEW YORK, Oct. 29, 2020 /PRNewswire/ -- iQSTEL, Inc. (USOTC: IQST) an international telecommunication and fintech service provider, today announced the company will report $13.2 million in revenue in its upcoming Q3 financial report, a 17.8% increase over the $11.2 million in revenue reported in Q2. The company set a revenue record for the month of September reaching $4.5 million. The company will report a total of $29.3 million in revenue for the nine months ending September 30, 2020 realizing a 134% increase over the $12.5 million reported for same period for the previous year. IQST is a fully reporting company with audited financials. IQST confirms the 2020 $42 million estimated revenue outlook published in the Goldman Small Cap Research Analyst Report issued earlier this week on Tuesday, October 27, 2020:
IQST – iQSTEL Announces Analyst Report With $0.54 Target PPS
iQSTEL_Logo
iQSTEL_Logo
See the full report at www.goldmansmallcapresearch.com/IQST
About iQSTEL Inc.:
iQSTEL Inc (OTC: IQST) www.iQSTEL.com is a US-based publicly listed company offering leading-edge 21st Century Enhanced Telecommunications Services with a focus on a wide range of cloud-based enhanced services to the Tier-1 and Tier-2 carriers, corporate, enterprise, as well as the retail market. iQSTEL through its subsidiaries Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, IoT Smart Gas Platform, itsBchain offers a "one-stop-shopping" for international and domestic VoIP services, IP-PBX services, SMS exchange for A2P and P2P, OmniChannel Marketing, Internet of Things (IoT) applications (IoT Smart Gas Platform), 4G & 5G international infrastructure connectivity, as well as blockchain-based platforms: Mobile Number Portability Application (MNPA) and Settlement & Payments Marketplace for VoIP, SMS and Data.
About Etelix.com USA, LLC:
Etelix.com USA LLC www.etelix.com is a wholly owned subsidiary of iQSTEL Inc. Etelix.com USA, LLC is a Miami, Florida-based international telecom carrier founded in 2008 that provides telecom and technology solutions worldwide, with commercial presence in North America, Latin America, and Europe. Enabled by its 214-license granted by the Federal Communications Commission (FCC), Etelix provides International Long-Distance voice services for Telecommunications Operators (ILD Wholesale), and Submarine Fiber Optic Network capacity for internet (4G and 5G). Etelix was founded in 2008 and has been profitable since inception.
Story continues
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8K https://www.otcmarkets.com/filing/html?id=14464076&guid=QqAeUF-jJ2OTrth
On October 28, 2020, Universal Security Instruments, Inc. (“USI” or the “Company”) received a letter, dated October 27, 2020, addressed to USI’s Board of Directors, from David Lazar, CEO of Activist Investing LLC. A copy of Mr. Lazar’s letter is attached to this Report as Exhibit 99.1.
Mr. Lazar’s letter makes several allegations against the Company and its management. USI strongly denies each and every allegation contained in Mr. Lazar’s letter and strongly believes that Mr. Lazar grossly mischaracterizes USI’s financial situation and prospects.
As previously disclosed, on August 31, 2020, the Company received a letter from NYSE American LLC (the “NYSE”) stating that the NYSE has determined that the Company is not in compliance with the NYSE’s continued listing standards, and requiring the Company to submit a plan (“Plan”) to regain compliance with the continued listing standards by February 28, 2022. If the Plan is accepted by the NYSE, the Company’s NYSE listing will continue, subject to the NYSE’s periodic review for Plan compliance. If the Plan is accepted by the NYSE, but the Company is not in compliance with the NYSE’s continued listing standards by February 28, 2022, or if the Company does not make progress consistent with the Plan, then the NYSE staff will initiate delisting proceedings as appropriate. The Company has submitted its Plan to the NYSE in a timely manner and is waiting to hear back from the NYSE. The Company’s Plan is predicated on the Company continuing in its current business, and the Company believes that it will regain compliance with the NYSE’s continued listing standards before the delisting deadline set by the NYSE.
Since May 14, 2020 (approximately three weeks prior to Mr. Lazar’s first purchase of USI’s stock as listed in Mr. Lazar’s Schedule 13D), Mr. Lazar introduced to USI at least six candidates for consideration as possible merger partners for the purpose of changing USI’s business so that USI will continue as a NYSE-listed company but with a different business. Management and USI’s outside counsel have devoted numerous hours to presentations and discussions with several of these possible candidates. Several of these candidates withdrew from further discussion due to their internal plans changing, and only one of these candidates eventually presented (on October 8, 2020) a detailed proposal for a possible merger in the form of a draft Agreement and Plan of Merger (the “Proposed Merger Agreement”). Since October 8, 2020, management and outside counsel have been engaged in lengthy and good faith negotiations with counsel to this candidate to finalize the Proposed Merger Agreement and address not only the basic merger, but also the disposition or spin-off of USI’s current operating business, the tax consequences to USI’s current shareholders, and the tax consequences if USI’s current operating business is spun-off and continued by a new company owned by USI’s current shareholders. Management intends to present the draft Proposed Merger Agreement to USI’s Board for consideration within the next few days and will publicly disclose any action taken by the Company as required by applicable rules and regulations of the Securities and Exchange Commission regulations and the NYSE.
Universal Security Instruments, Inc.
11407 Cronhill Drive, Suites A-D
Owings Mills, MD 21117-3586
Attn: The Board of Directors
Gentlemen:
Activist Investing LLC, together with its affiliates (collectively, “Activist Investing”), are the beneficial owners of approximately 9.9% of the outstanding shares of Universal Security Instruments, Inc. (“UUU” or the “Company”), making us the Company’s largest shareholder. However, our significant stake in UUU should not be mistaken as a vote of confidence in the Company’s management or its Board of Directors. On the contrary, we view your record in financial management, strategy and corporate governance as the cause of significant concern, and fear that instead of acting in the best interest of all UUU shareholders, you only represent the narrow interest of management.
Over the course of the past several months, we have repeatedly encouraged you to consider strategic options to reverse the Company’s long and consistent destruction of shareholder value. Unfortunately, we have found you to be insufficiently responsive as the urgency of taking decisive action has increased. In recent weeks, a serious candidate for a strategic transaction emerged – a biopharmaceutical company with a promising therapeutic for COVID-19. To our dismay, you have failed to act in what we would consider to be a timely or commercially reasonable manner with respect to this particular opportunity. Given its dire financial situation, we are now more alarmed than ever that the Company will soon find itself delisted from the New York Stock Exchange and on a path towards bankruptcy. Unless you act now, we believe that it will be up to shareholders to take immediate action to halt any further destruction of value. Time is of the essence.
Sincerely,
/s/ David Lazar
David Lazar
CEO, Activist Investing
Nice buys today :)
Indeed I must be confused, but I don't recall seeing a PR or any language announcing this, in any of the filings about this, at any time over the last year. Baffling to say the least!
What does RELI, 100% actually "OWN"? Is this "5 Minute Insure Program". Is it a Company, Subsidiary, Entity or just a loosely defined "Website"?
Does anyone know what this program does?
Beyman did not invest so much of his own money in $RELI in order to walk away from it.
Beyman bought a used shell for cash. There is no evidence of any other money that Beyman has personally lent to $RELI. Please provide a link to the loan (s)
It's pretty apparent that this new domain / "coming soon" website is connected to both RELI who's corporate office is in 300 Blvd., America's, Suite 105, Lakewood, NJ 08701and NSURE, who's corporate office is in 6501 Congress Ave STE 300
Boca Raton, FL 33487.
The nagging Question / Speculation is why is the registrant located in New Jersey?
Has RELI taken a bigger stake in NSURE?
Why is Reliance Global Group listed on the "Launching Soon" page and not NSURE?
This is why "TRANSPARENCY" to shareholders is SO IMPORTANT!
The only revelance that I can see is that the owner of the domain resides in New Jersey, a bit of a coincidence.
Thanks La Fortuna. What relevance does it have though? What is the point you are trying to bring forth?
And your source is?
Once again the market showed the middle finger to the fantastic news, the Investor Presentation, with a close at the LOD breaking the .10 support.
Ezra is really stupid and stubborn like a mule. He still didn't understand that the market wants action, LOIs closed, RE, all what he promised, not BS like this SMH.
Refresh your browser. Or clear your history. Not sure what browser you use.
And me too!!!
Thanks for your post. I love your insight and accuracy and the speed in which you seize the opportunity to always update us on $RELI.
Truly a great post from a savvy trader.
The person who prepared it for $RELI most likely used a templet that he used for another company before and forgot to delete it.
Maybe you need to refresh your browser on your phone
It was a mistake. Company is fixing it now.
Already fixed https://www.relianceglobalgroup.com/pdf/RELI-Investor-Presentation-Sep-2020.pdf
Investor Presentation – September 2020
OTC: RELI
https://www.relianceglobalgroup.com/pdf/RELI-Investor-Presentation-Sep-2020.pdf
When you click on the presentation the new tab will show the name Cardiff Lexington.