Reliance Global Group Inc (RELI)

[QaB2i]

Surely anyone that can open a brokerage account knows how to read! The Issuer publicly declared its reverse split of 85.71:1. It was difficult to miss and even harder to ignore. Some silly folk thought that a reverse split could be instantly changed by driving the price of common up even though an underwriter had committed to a firm commitment offering @$6.00

($6.00 post split / 85.71 = $0.07 pre split)

Anyone that's been around the block a few times would know that an underwritten Firm Commitment secondary offering is presold to the new investors, so why would its price change based on the Market Price? Answer - it wouldn't.

$RELI Market Makers and/or $RELI short sellers were handed free dollars for three straight days while fools promoted the notion that the reverse split ratio would be adjusted to take into consideration a prevailing market price. The smart money knew exactly what to do and did it.

No inside information was needed, it was kids stuff!
And although the fools asked right question, the correct answer 'which was written in stone' was ignored.

I did not know the details of the r/s before it was executed.