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Don't know about WeBull bur RH does not let you trade OTC.
Their insurance portfolio is generating strong cash flow, so assuming it’s a smaller tuck in acquisition, I would strongly suspect it was funded internally.
Let's not assume they only paid Nsure I million dollars. If in doubt you can always reach $RELI's IR person and verify.
There is absolutely no guarantee they will have the $ to invest the remaining $19 million. As far as I know they gave no timeline for that either
Care to educate the board and explain your statement? Thanks, much appreciated.
As you have all learned, EZRA BEYMAN's assets and Reliance Global Groups (RELI-OTCQB) are most certainly not the same thing.
Even a small PR could’ve aided in keeping traders’ attention long enough to cause a breakout
Let's stick to the facts.
LAKEWOOD, NJ, Feb. 20, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Reliance Global Group, Inc. (OTCQB: RELI) ("Reliance" or the "Company"), today announced that it has formed a strategic partnership with Nsure, Inc. (“Nsure.com”), America’s first licensed digital insurance agency®, and has consummated a $1 million direct investment representing the first in a series of planned investments, expected to total $20 million, at which time, Reliance Global Group would own 35% of Nsure.com with an option to acquire an additional 5%, bringing the total to 40% of Nsure.com. In connection with the strategic partnership, Nsure.com will provide back-end support for Reliance’s agency business, which is expected to drive significant efficiencies and cost reductions.
That's great news. Thanks for sharing with us.
The hats in Brooklyn said he's been at this bubbamatz for years.
you guys got so bagged.
I would always have a lingering fear that one day you might stop bringing back the oranges as well.
Does Ezra not have the option to purchase up to 40% of Nsure?
Thank you. Took some profits, holding the rest for now.
Holding this one since 2015. Happy to be able to take profits today.
Why the volume today?
Ron Loudoun, CEO <ron@greenhygienics.com>
Mon, Sep 14, 2:12 PM (18 hours ago)
to me, OTCQB:GRYN
Hi Shana,
Hope you are well!
We switched recently to a new firm to be announced.
Things are unfolding slowly but surely.
Let me know if you have any questions that I can answer.
Regards,
Ron Loudoun,
Chief Executive Officer
Green Hygienics Holdings Inc.
OTCQ:GRYN
Cell: 1.778.839.7373
Welcome aboard and lots of luck. :)
This is Real Estate not insurance.
All their previous insurance LOI's closed. Check it out.
Apology accepted and thank you.
I am confident they will keep us abreast of progress. Signed the Yenta lady who never left $RELI for Universal Tracking.
I am sure the company will provide further details as soon as they can. It is a good idea to keep in mind that past acquisitions have been funded through a combination of stock, cash, earn-outs and debts financing based on the cash flow of the companies they are acquiring.
Absolutely.
Very nice. GL You have kept a positive attitude all along.
That's the best news for now. Let's hope there will be many more.
I totally agree with you. I like the way you analyze the PR.
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
PR out
Reliance Global Group Announces LOI to Acquire National Insurance Agency With Over 145 Affiliated Offices Across 40 States
9:35 AM ET 9/9/20 | GlobeNewswire
Reliance Global Group Announces LOI to Acquire National Insurance Agency With Over 145 Affiliated Offices Across 40 States
LAKEWOOD, N.J., Sept. 09, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Reliance Global Group, Inc. (OTCQB: RELI) ("RELI" or the "Company"), today announced a fully executed letter of intent (LOI) to acquire a national insurance agency. The acquisition is expected to close before the December 31, 2020 fiscal year end subject to certain closing conditions, with due diligence well underway.
Ezra Beyman, CEO of Reliance Global Group, stated, "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."
"We have been working on this planned acquisition for several months and are in the process of an extensive due diligence review. We expect to achieve significant cost savings and other synergies as we integrate our organizations and leverage our existing nationwide infrastructure. We also expect to generate significant cost savings and efficiencies through our relationship with Nsure.com. Specifically, by implementing Nsure.com's artificial intelligence, robotic process automation (RPA) and automatic search for best rates, our goal is to create a digitally empowered and scalable insurance agency model to reduce costs and allow agents to focus almost exclusively on selling new policies."
"As I have stated in the past, we believe the insurance market is ripe for a strategic consolidation of undervalued agencies. The insurance broker/agency market in the U.S. for 2020 is valued at over $160 billion(1) , and yet remains highly fragmented. Historically, insurance agencies have also remained quite stable in almost any economy, and do not bear insurance risk, making this an attractive market segment. We have a successful track record closing and integrating every previously announced insurance agency LOI, and this represents our most ambitious and meaningful acquisition to date."
Mr. Beyman concluded, "As we continue to build scale and gain critical mass, we believe we expect to garner more attention on Wall Street. Notably, public companies in the InsureTech sector, such as Goosehead and Lemonade, have benefitted from what we view as attractive valuations. For this reason, we believe our unique 'clicks and bricks' approach will drive significant value for our shareholders."
About Reliance Global Group, Inc.
Sounds like a good idea and than maybe we can say, $RELI YOU AIN'T SEEN NOTHING YET WITH A LOT OF EXCLAMATION POINTS!!!!!!!!!!!!
Another good day, lets keep stacking these green days 1 after another!!
I agree
Thanks for your post and the charts.
Enjoy the weekend.
Very nice humorous post to end a nice $RELI day.
Have a nice weekend.
I’m glad you said that. Unbelievably this RELI$ has been one of my total winners for 2020. I believe I called every move almost perfectly. I spent a tiny initial stake based on the fact that it was always a shell looking for a reverse merger that in actuality was not a reverse merger. It was a fabrication of an enormous real estate play that was never ever going to happen. The hype attributed to Beyman was about as real as the Easter bunny. Probably the greatest short I’ve ever played. Longs that expected $1 + and an NYSE REIT play got conned as ruthlessly as I’ve ever seen got played hard. Management had no clue from the get go. The history of this crew was all there and so few bothered to check them out.
This is from their last PR: https://www.otcmarkets.com/stock/RELI/news/story?e&id=1671172
Towards this end, and given our successful acquisitions to-date, we are now accelerating our strategy by targeting significantly larger insurance agencies that will rapidly expand our national footprint. We have already identified several attractive targets that meet our investment criteria and would provide even greater economies of scale.
$CYCA looks good this morning.