trader59, you can't even properly identify the owner of an insurance agency acquisition, so why would anyone believe the rest of your argument? Most of your DD is wrong. That of which isn't, is either incomplete or takes the worst assumption of RELI's intentions.
That's not a supposition, it's a fact. My statements are verifiable by disclosures, PRs, or by contacting the company. Besides, I also have a NDA, so you won't find anyone outside of management who knows more about this stock than me.
Class is in session, so take a seat.
Lesson 1.
Those shares are not eligible. As other pointed out, 1 year is the minimum. Yes, they will come off at a point, but not yet. I know that 100%. And once again, you could ask the company directly, but now it's been asked and shown to you. But you've repeatedly turned down that easy and verifiable option and continue to not believe it. Who is more likely to be correct, you as a random poster on the internet, or the company CFO?
Lesson 2.
Worse, Gary and Selena Apfel did not even own an insurance agency. Simple DD confirms that, so it's clear you did not do any. As for the other "non-affiliates," those are shares for friends, family, charities and religious organizations. Again, all findable in the disclosures. None of those shares were used to acquire anything. Mr. Beyman is a generous and religious man, he's not playing anyone for fools. His code of conduct does not allow that.
Lesson 3.
Further, when you talk about acquisitions, it's clear you are not doing proper DD. Not only did Gary and Selena Apfel not own an insurance agency, RELI has acquired more than 1 company from outside the LLC.
EBS, originally LLC, pushed to RELI
USBA, originally LLC, pushed to RELI
Commercial Solutions, direct to RELI
Montana, not originally LLC, pushed to RELI
Fortman, not originally LLC, pushed to RELI
Altruis, direct to RELI
So by that count:
Two companies originally from the LLC
Two outside companies first to LLC, then brought to RELI
Two outside companies acquired directly by RELI
So not only do you erroneously identify the Apfel's as owning an insurance agency, you don't take the time to look up and understand the non-affiliated shares, and can't properly identify RELI's acquisitions and how they arrived.
But worse, you repeatedly say you have no interest in contacting the company yourself. If you won't go to the source yourself, something impossible to do on most OTC stocks, it's clear you aren't interested in doing full DD.
Lesson 4.
Your last statement is the main problem. Sure, you objectively identify the company currently operates at a loss and has 15M assets per the last disclosures. Yes, we all know that. But what's clear is that you are projecting your own ideas of success, thinking you understand their business plan or aspirations, and assume they are attempting to dupe shareholders. That's a problem. We are all posters on iHUB for that reason, we don't have a track record of running multi-billion dollar businesses, so it's a tough sell to try and convince you know better.
More so, not only do most companies start in the red, but the current 15M assets do not scratch the surface of what's coming. In fact, it's child's play. Real companies with big aspirations take time to grow. Besides, that number does not include NSURE, something most still don't understand its power. It will be clear in time though.
But your supposition this is worth a nickel flies in the face of the exact notion why people invest. They buy shares in companies when they know greatness is coming. People aren't holding and buying because they have wool pulled over their eyes. They are buying because Mr. Beyman previously ran two multi-billion dollar private organizations. So not only is that a true asset base (can't argue against the market cap), running a private organization is way easier than a public one. it's an awfully weird thing to bring more scrutiny on yourself when you've already been so successful.
Lesson 5.
Now, I see your new target is the OS and Float. Correct, eventually the OS becomes part of the float. We all know that. But there is a lot there that is not obvious. Many of those shares in those disclosures have changed hands, so it's not accurate to just say someone will bail. Other holders have special agreements, so those shares are locked up even longer (The detailed bits of those two points are perks of my NDA). They aren't gonna let anyone hurt their business.
Also, all shares are subject to protections and limits to protect shareholders when they hit the float. So even when many hit the float, why would management hurt its own investment? In fact, the vast majority of the OS is all owned by parties know to Mr. Beyman or company related individuals. Whether for charity, religious organizations or management, it doesn't make alot of sense for the people who own the most shares to divebomb their own value does it?
End of the day, if anyone still doesn't believe his public enterprise will be bigger than his previous multi-billion dollar private endeavors over time, they are betting on the wrong color. I guess everyone selling in the .3s and .4s really just needs alot of toilet paper.
I mean, they just revealed Mazars is their auditor now for goodness sakes. That's amazingly legit. Yes, we are all getting dragged by Corona, but that's market wide. The fundamentals and trajectory of RELI are the same as I've always said. Buy and hold. So everyone take the opportunity while at these levels - it's only up from here.
Lesson 6.
Ultimately, I'm not sure who you are trying to convince. I've followed your back and forth with multiple posters, and you are set in your ways, and arguing against everyone. No one here agrees with you, so that speaks to the strength of your argument.
So as someone who knows the most, I thought I'd give some lessons. I get it's always healthy to be skeptical in the OTC as most stocks and their promises are nothing more than that. But if you are going to present an argument, please come to the table with the correct information, or at least have the decency to ask the management directly when they are so open and accommodating.
End of the line, RELI is one of the most real things in the OTC. Presenting DD that tries to show otherwise is a fruitless endeavor. That's why so many people are still here from the beginning, and are adamantly defending the stock. They know what's coming.
There is nothing to be scared of here, so I hope you change your tune. If not, I doubt we'll interact again.
Class Dismissed.
