Replies to post #37595 on Reliance Global Group Inc (RELI)

[Porteño]

Why would big LOI fall through? The offering and uplisting was needed to complete it. It only makes sense now that those two have been completed, deal will be officially closed and announced.

At least that's how I understand it.

All IMO.

[BenK]

OK, I'll take the bait once again and reply here.

Of course the uplisting was predicated on the LOI, both from the company's perspective, to provide broader exposure to the investing market as they become a major national player in the insurance sector; and from NASDAQ's perspective, to consider RELI a viable player on a major league stage.

But if they would have decided, "Wow! Our loyal shareholders (many of whom were cursing management for many months for being totally incompetent, criminal, and evil) suddenly got religion, and pushed the share price up 5X, so let's put off the LOI for a few months and start over...", who says that the LOI could still be executed?

Maybe the sellers would be so angry for being jilted, after missing the end-of-year deadline, now again seeing the can kicked down the road - would that have been a smart move?

Of course the two are connected. The uplist only is feasible with the LOI or LOIs). That's why the LOI has to happen, hopefully very soon.