Replies to post #37089 on Reliance Global Group Inc (RELI)

[BenK]

"...it would seem it was the added offering that priced the shares at 6. If that is the case then it would seem that it was a major blunder to tie the added offering to the rs."

I hear your point.

But from what I gathered - and I think someone wrote this on the message board also - the sale of those shares at $6 (which at the time seemed like a reasonable valuation) was necessary to make the S1 effective. There had to be an initial raise in order to get the final OK to uplist. So as I said, they were kind of forced by the regulatory restrictions to follow those steps.