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Q - So what’s was the point of the RS?
A: to qualify for NASDAQ and raise a secondary offering.
Q: to just dilute a year and a half later?
A: pubic companies all raise money through the sale of shares. Dilution and expansion of the market cap hopefully at higher values is the aim.
Hmmm rhetorical question
GLTA. $RELI
Lmao. Sorry to hear that
Watch out for plenty more chop
More than just fluff.,
I like the new work Ezra has achieved in a short time period. All of it without pimping out the float. None of RELI’s finance has been toxic (even the PIPE, g-d bless those holders). This is the insurance brokerage business. One brick at a time.
It’s long overdue for the long impatient and bitter n’ twisted to take a long hike of a short pier.
If you’ve got a real bloc and your looking to exit RELI ( not RELIw) you know where to find me.
GLTA. $RELI
PS _ In no way am I insinuating that 'any' pimp, pimps or pimping would ever be relevant to Reliance. Its merely a colloquialism for the habits of the corrupt, sordid and dishonorable
Btw - perfectly timed macro old chap
How’s the diet? I lost 21lbs !!!
FOMC Weds - watch these turkeys really quack up an economy. Rusty, retail is the other shoe. SnP >3400
GLTA $RELI
Uncle Warren is talking about the cash arbitrage between premium and risk.
Buffets all you can eat on taking premiums in exchange for well underwritten risk.
But RELI takes no such insurance risk. Because RELI is a broker not a carrier.
Maybe Ezra will acquire a carrier and then they can play the float game.
Is it on my list?
Congratulations to those amazing one’s amongst us that got to cash and shorted the snot out of it while the betting window was open. 8+% in May!??? Hilariously they didn’t bake than in. It’s going to be horrid. Trust me - I don’t have to tell anyone except Rusty who painted walls with it in the 80’s. 8% will be double digits quicker than RELI could be $9.23 or higher.
I urge RELI aggressive conservation of expenses and hunker down for the storm while looking for the BIG deals that will break or are over leveraged. Opportunity is made in a stock under $5 with a tiny public float.
RELI is a semi well oiled acquisition machine. Others out there are similar, but I know every stroke this one has traded, dark pools included.
I like the new work that Ezra has done and I’m building another long position.
GLTA
$RELI.
It’s me and Asianic Two Times LLC making a peony piece tutu game market with the dark pools. It’s like 1 for us .08765432 x85.71 to them. We think this stock has lots of potential upside under the right circumstances.
It’s insignificant what the CMS commission-pay rise is. eHealth has totally missed the market. The first thing eHealth needs to do is close its Indian and Pakistani call centers that continue to cold call Medicare beneficiaries against CMS rules.
The more we see Kenny in the news the nearer C is to the abyss
You never know. You might get a second bite of insane idiots running it up pre split coz’ lemmings are lemmings. I strongly doubt those same circumstances culminating again as previously mentioned. In fact I’d place a bet on it being impossible to repeat even if one had garlic sausage for breakfast
A gentle reverse split cures that problem.
Onwards and upwards.
TREE on its way down to the second marker
My best to you my friend.
Concur eom.
Is this it?
$RELI
I’m glad you disagree. Based on that self service Medicare proposal I should short more Ehealth. Anyone that’s worked in Medicare knows that beneficiaries are not adroit with computers/smart phones / technology generally. Self service Medicare is likely in maybe 10 years time.
It could be worse
Hit that Bid $$$
But but…
Who would they ever find if they ever did get the clue to put Ezra out as Chairman Emeritus Lake and Palmer? Who could step in and drive this? Who would know how to communicate to all these executives who add only a thimble of value? Where is the grande exit plan?
If you loved RELI at $8 then this is the bargain of the day
Well, in Shana’s defense I’ve not met her in the flesh but I have exchanged sufficient telephone conversation to know she most certainly isn’t Ezra. Ezra on the other hand is most definitely not Shana unless he’s a shapeshifter. Ezra is diminutive in size and a very softly spoken man except when releasing press - then he roars like a hungry tyrannosaurus rex!
That serves you right for doing the splits over a blow lamp blindfolded!
Reli$
Frickin hilarious man
$RELI
Let me tell you something, $RELI.
Passover gives me wind and heartburn!
This matzo balls are still digesting and the gourmet handmade kreplach! I should sue that chef today.
Oh you lads do make me chuckle
Old school lmao
Oh sure! This thing is getting wound up again. When Ezra’s ready I’m sure he’s got something tasty for shareholders. We all know how this stock works now. You reap what you sow, but who am I telling ! You already know that.
chag Sameach my friend.
I guess one has know when to spit the juicy fruit out ?
Yea you said way back that 3.12 didn’t fill - right? Was it 3.12? Or 3.16? How funny that the chart said that.
There were two or three sessions that RELI’s market trading liquidity exceeded that of Tesla and Apple on different days.
As someone who grew up in Borough Park, Brooklyn..You’ve never seen anything like that before or probably since. And BTW there was no evidence of a short squeeze. I’m pretty certain the Esuite had no clue what to make of it but it was fortuitous timing and probably the universe at work.
GLTA. $RELI
Are donkeys intelligent?
Exceptionally intelligent, they have phenomenal memories (and can recall complex routes and recognize animals they haven't seen for years) and also have a logical, flexible approach to problem-solving. People who know donkeys report that they are smart, personable, and affectionate.
$RELI
naturellement!!
RELI$
Take my temperature doc ;)
I think you might have grabbed the wrong 10k.
10K. Later today;
—-
Ezra Beyman, CEO of Reliance Global Group, commented, “2021 was another monumental year for the Company as we achieved solid revenue growth, enhanced our senior management team, launched 5MinuteInsure.com and uplisted to the Nasdaq. Moreover, we have maintained a solid balance sheet with over $4.6 million of cash and restricted cash at the end of the year, and our insurance agencies are collectively generating positive cash flows from operations. As a result, we believe we have built a highly scalable platform poised for continued growth as we forge ahead through 2022. In addition to our focus on organic growth, we have demonstrated a successful acquisition track record, where we’ve acquired profitable cash flow positive businesses with exciting growth strategies at attractive multiples. The following highlights our most current acquisition activity:
In May 2021, the Company acquired J.P. Kush, which brings an extensive network of over one hundred independent agents across 10 states and expands our expertise in the health insurance marketplace.
In January 2022, the Company completed the acquisition of Medigap Health Insurance Company, which will expand our capabilities within the Medicare supplement market, which we believe would be a perfect complement and highly synergistic with our existing portfolio companies. In addition to bolstering our revenue going forward by more than 70%, we believe this transaction has the potential to be highly accretive.
The Company has a robust pipeline of exciting prospective agencies under consideration for acquisition during 2022 and looks forward to further enhancing our top and bottom line results, as well as expanding the Company’s overall national footprint. The global insurance brokerage market was valued at $317.9 billion in 2020 and is projected to reach $515.3 billion by 2028 (Research Dive), however, it’s still considered highly fragmented making it ripe for further consolidation. We believe the Company is ideally poised to capture a significant share of the market in the years ahead, whilst concurrently delivering maximum value to our shareholders.”
Fiscal Year 2021 Financial Results
Revenue for the year ended December 31, 2021 increased 33% to $9.7 million, compared to $7.3 million for the year ended December 31, 2020. The $2.4 million increase was primarily due to organic operational growth, coupled with revenues generated from our insurance agencies acquired during 2020 and 2021.
Operating expenses for the year ended December 31, 2021 approximated $12.7 million, compared to approximately $10.9 million for the year ended December 31, 2020. Increase is driven by the positive expansion in top-line revenue which requires additional selling and managerial costs to be incurred.
Loss from operations for 2021 approximated $2.9 million, compared to $3.6 million in 2020, representing an improvement of approximately 20% or $714K year-over-year. Primary drivers for beneficial flux were the increased revenues and decreased general and administrative expenses per operational efficiencies deployed.
Net loss for 2021 increased due to a non-operating, non-cash unrealized fair value change in our warrant commitment derivative financial instrument of approximately $17.7 million. This was the primary cause for our 2021 net loss of $21.1 million, or $2.09 per share, as compared to $3.7 million, or $0.88 per share in 2020. The warrant commitment derivative financial instrument will be revalued each period on an ongoing basis. Fair value fluctuations are considered non-operating unrealized gains or losses and are non-cash in nature with no adverse impact to the Company’s liquidity or operational results.
Non-GAAP income (loss)* for the year ended December 31, 2021 resulted in a loss of $556K, as compared to $830K for the year ended December 31, 2020, a 33% decrease.
*Non-GAAP income (loss) excludes the impact of depreciation and amortization, interest expense and service fees related to debt service, stock options expense, change in derivative liability and gain on extinguishment of debt.
December 31, 2021
(unaudited)
December 31, 2020
(unaudited)
Net Loss
$ (21,098,465)
$ (3,681,389)
Recognition and change in derivative liability
17,652,808
-
Other expense, net/Interest
533,337
563,287
Gain on extinguishment of debt
-
(508,700)
Depreciation and amortization
1,607,313
1,325,337
Depreciation and amortization
749,128
1,471,068
Non-GAAP Income (Loss)
$ (555,879)
$ (830,397)
The complete financial results will be available in the Company’s Form 10-K, which is expected to be filed with the U.S. Securities & Exchange Commission later today.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is combining advanced technologies, with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes both an organic expansion, including through 5minuteinsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies. Additional information about the Company is available at https://www.relianceglobalgroup.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Contact:
Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: RELI@crescendo-ir.com
Cheers $reli.
I’ll hold a few freebies for old times sake.
Ciao.
Opening long position in this dip.
GLTA.
I expect a serious second shoe to drop on all these public health insurance brokers who’ve missed the market and the plot entirely.
SelectQ Ehealth Gohealth - bad business models