Replies to post #37307 on Reliance Global Group Inc (RELI)

[Stowe]

It is becoming more and more clear to my that it is my fault for trusting that a Nasdaq ceo would want to communicate with his shareholders on an important day of up listing. It is my mistake for thinking he would have a plan of taking this company forward. Silence from him only confirms they are not ready. How could we be so blind. Unfortunately, I am not alone.

[shanak10]

QaB2i Member Level Wednesday, 02/10/21 08:00:21 AM
Re: Stowe post# 37303 0
Post #
37307
of 37313
The issuers hands are in fact clean. The unrealized losses have been caused by several protagonists and an NDA holder that incorrectly believed that the issuers reverse split would have been altered if the stock price rose pre split.
Reading back posts a week or two ago will provide all the information that was incorrectly projected.

I know I said I am taking a break from posting on board but I just want to clarify the following:
Yes, on January 29th I, the NDA holder, did post something about altering the r/s. That was on January 29th at which time it could have been possible. But the stock only started running on Friday/Monday this week, a day before uplist to NASDAQ. There was absolutely no way at this point for the company to adjust the ratio without delaying the uplist, as I explained earlier. They would have had to refile all over with the SEC/FINRA and auditors and would have had to change all the numbers and that takes a few days to a week, especially since government offices are closed on Saturday and Sunday. They opted not to delay the uplist in favor of not losing their big INS LOI.
Wishing you all lots of luck.

[wrathgar]

So you're saying not much has changed here. Gotcha. Not a surprise, still disappointing to watch it continue to unravel in this manner. Hope it turns around for those still involved but...

RELI