Reliance Global Group Inc (RELI)

[shanak10]

Its not possible. Therefore, the Issued and Outstanding & Free trading float are far larger than the most recent 10Q reported to the public.
Quote:
Q... how is that possible under the restrictions of 144?

David Waldman
10:54 AM (43 minutes ago)
to me
Hi Shana,
The 10Q clearly states 10.9 million shares as of May 11, 2021.
If you look at the SEC filings, it shows that insiders, which are NOT part of the float, had 1,169,870 shares at December 31, 2020. You can add to that the shares Mr. Beyman received upon conversion of the debt and preferred, which totals 4,578,263 shares.
In addition, many of the current shareholders still have shares in certificate form, which have restricted legends on them. The Company has disclosed that when you add these to the insider shares, there are just over 3M shares in the float excluding restricted shares. I have personally reviewed the documents from vstock and can confirm this is in fact the case.
Its also important to note that with trading algorithms, day traders, etc., it is not uncommon for companies to trade many times their float and even multiples of their market cap.
David