Replies to post #39935 on Reliance Global Group Inc (RELI)

[QaB2i]

Incorrect Tuesday.

The Sept 2020 LOI fell through prior to December 4, 2020, not recently or this quarter or even last quarter.

It fell through prior to YE 2020.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163668039

nothing was said about it for so long because after "extensive due diligence" with the insurance company the deal fell through, very recently, during this quarter.

[BullMarket34]

That deal would have made a negative impact on shareholders as it would have caused a massive dilution.

Gotcha. So they didn't have a semblance of a clue as to how they were going to finance it when they announced it, despite say due diligence was well underway. Similar to how they didn't have any clue as to how they were going to finance the RE or if their lender would approve of the transfer prior to issuing all of those LOI's.

Or maybe they just learned what dilution meant a few weeks ago.




September: LOI for national 145 location insurance agency!

May: Nevermind guys, that would've resulted in massive dilution, our bad.