LAKEWOOD, N.J., June 23, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTCQB: RELI) (“RELI” or the “Company”), today announced that it has filed its Form 10 with the Securities & Exchange Commission.
Ezra Beyman, CEO of Reliance Global Group, stated, “The filing of our Form 10 is an important milestone for the Company. First, as a fully reporting company, we have the opportunity to attract a broader universe of institutional and other investors. Second, this is an important step towards our ultimate goal of listing on a national exchange. Third, as we are in active discussions regarding a number of potential real estate and insurance acquisitions, the fact we are now fully reporting provides greater transparency and reinforces our commitment to the highest levels of corporate governance. I would like to thank our staff, auditors, legal advisors and other team members for all their hard work to make this possible. We have now put in place a highly scalable financial and operational infrastructure that should support our anticipated growth for years to come.”
LAKEWOOD, N.J., June 23, 2020 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTCQB: RELI) (“RELI” or the “Company”), today announced that it has filed its Form 10 with the Securities & Exchange Commission.
Ezra Beyman, CEO of Reliance Global Group, stated, “The filing of our Form 10 is an important milestone for the Company. First, as a fully reporting company, we have the opportunity to attract a broader universe of institutional and other investors. Second, this is an important step towards our ultimate goal of listing on a national exchange. Third, as we are in active discussions regarding a number of potential real estate and insurance acquisitions, the fact we are now fully reporting provides greater transparency and reinforces our commitment to the highest levels of corporate governance. I would like to thank our staff, auditors, legal advisors and other team members for all their hard work to make this possible. We have now put in place a highly scalable financial and operational infrastructure that should support our anticipated growth for years to come.”
“Given our track record in the private sector, we believe our accelerated activities within the market are well timed, as we see more attractive opportunities emerging that are closely aligned with our strategy of acquiring undervalued and cash flow positive assets. We look forward to providing further updates on our commercial strategy as developments unfold.”
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (OTCQB: RELI) is moving forward with its goal to operate as a holding company for several companies in the real estate, insurance brokerage, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
LAKEWOOD, N.J., June 12, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTCQB: RELI) (“RELI” or the “Company”), today reported financial results, that were reviewed by Mazars, for the first quarter of 2020. The complete financials of Q1 have been filed with OTC Markets and are available at OTCMarkets.com.
LAKEWOOD, N.J., June 12, 2020 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTCQB: RELI) (“RELI” or the “Company”), today reported financial results, that were reviewed by Mazars, for the first quarter of 2020. The complete financials of Q1 have been filed with OTC Markets and are available at OTCMarkets.com.
Ezra Beyman, CEO of Reliance Global Group, stated, “I am pleased to report revenue for the first quarter of 2020 increased five-fold to $2.0 million versus $366,000 for the same period last year. Importantly, our insurance agencies are collectively generating positive cash flow on a standalone basis and, as revenue continues to grow, we expect to significantly enhance profitability due to the scalability of our business model. Heading into the second quarter, our insurance agencies continue to perform well despite the ongoing pandemic. We believe this illustrates of the stability and growth potential of the insurance agency business in nearly any market environment. In addition, we continue to identify and plan to acquire additional, undervalued insurance agencies. At the same time, we are making progress through our investment in Nsure.com, and look forward to integrating the technology platform with our agencies to drive further efficiency.”
“On the real estate front, we continue to identify multi-family properties for potential acquisition. As discussed previously, late last year and into the early part of this year, we started to see significant price appreciation in real estate, to the point we felt that most of the properties we were evaluating did not justify the asking price. Rather than chasing these properties, we decided to wait for the market to cool off. While none of us could have predicted the COVID-19 pandemic, in hindsight, this turned out to be the right decision. We are now seeing more attractive valuations in the market and are in active negotiations on several properties that we believe have the potential to generate highly attractive returns. This coupled with historically low rates makes opportunities even more attractive. Overall, we remain highly encouraged by the outlook for the business and look forward to providing further updates.”
The Company is further pleased to note that this review was the final required report that is needed for the filing of our Form 10 which is in its final stage.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (OTCQB: RELI) is moving forward with its goal to operate as a holding company for several companies in the real estate, insurance brokerage, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
LAKEWOOD, NJ, June 04, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTCQB: RELI) (“Reliance” or the “Company”) today announced that its strategic partner Nsure.com, America’s first licensed digital insurance agency®, has received a license to operate and sell insurance in the State of California. As a result, Nsure.com is now licensed in the States of Florida, Texas and California, with plans to further expand nationwide. Nsure.com is a licensed online insurance agency that utilizes state of the art digital technology to empower insurance consumers to compare rates across more than 40 top-rated insurance carriers and bind policies within minutes.
LAKEWOOD, NJ, June 04, 2020 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTCQB: RELI) (“Reliance” or the “Company”) today announced that its strategic partner Nsure.com, America’s first licensed digital insurance agency®, has received a license to operate and sell insurance in the State of California. As a result, Nsure.com is now licensed in the States of Florida, Texas and California, with plans to further expand nationwide. Nsure.com is a licensed online insurance agency that utilizes state of the art digital technology to empower insurance consumers to compare rates across more than 40 top-rated insurance carriers and bind policies within minutes.
Wojtek Gudaszewski, CEO of Nsure.com, commented, “Thanks to the investment and alliance with Reliance, we have now added California to the states in which we are licensed. Importantly, California has the largest population in the United States. As a result, we are now licensed in the three most populous states in the nation, representing a significant portion of the total U.S. population, with plans to rapidly enter additional markets.”
Ezra Beyman, CEO of Reliance Global Group, stated, “This license in California is a major milestone for both Nsure.com and Reliance Global Group. In addition to the standalone potential of Nsure.com, there are significant synergies with our traditional ‘bricks-and-mortar’ agencies, which we expect will significantly reduce back-office expenses, as well as allow our agents to focus exclusively on selling new policies. As discussed on our conference call yesterday, we are pursuing an aggressive acquisition strategy within the insurance agency market, and Nsure.com is an important component of this strategy.”
About Nsure.com
Based in Florida, Nsure.com is the first all-digital licensed insurance agency that provides auto and home insurance via its secure website. Employing the most advanced data technology to track up-to-the-minute, real, not estimated, quotes from more than two dozen insurance carriers, Nsure.com enables customers to take complete control of the insurance buying process on their smartphones, tablets and computers. The company’s platform delivers a hassle-free experience, from a streamlined application process and instant quotes to no sales pitches and a simple renewal process that automatically updates quotes just prior to expiration so that customers can take advantage of the best rates and coverage possible.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (OTCQB: RELI) is moving forward with its goal to operate as a holding company for several companies in the real estate, insurance brokerage, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Call to be held at 4:30 PM Eastern Time on Wednesday, June 3, 2020
LAKEWOOD, N.J., June 03, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTCQB: RELI) (“RELI” or the “Company”), today provided an update for shareholders and reminder that it will host a conference call at 4:30 PM Eastern Time on Wednesday, June 3, 2020 (dial-in information below). The call will include a more detailed update on the Company’s progress, including its real estate and insurance strategies, which will be followed by a question and answer session.
Call to be held at 4:30 PM Eastern Time on Wednesday, June 3, 2020
LAKEWOOD, N.J., June 03, 2020 — via NEWMEDIAWIRE — Reliance Global Group, Inc. (OTCQB: RELI) (“RELI” or the “Company”), today provided an update for shareholders and reminder that it will host a conference call at 4:30 PM Eastern Time on Wednesday, June 3, 2020 (dial-in information below). The call will include a more detailed update on the Company’s progress, including its real estate and insurance strategies, which will be followed by a question and answer session.
Ezra Beyman, CEO of RELI, stated, “We look forward to hosting today’s conference call, in which we will provide an in-depth review and update on positive recent developments related to our real estate and insurance operations, as well as our financial improvement and ongoing M&A strategy. Our Form 10 documentation is also in the final stages with our auditors, and we will continue to update shareholders on the impending submission to the SEC. Overall, I am more encouraged than ever about the outlook for the company. I have personally funded the company over $5 million to date, and have an open program to fund employees to purchase the Company’s common shares in the open market, both of which illustrate my confidence in the outlook for the business.”
Mr. Beyman continued, “Looking ahead, we believe we are extremely well positioned given the diversification of our business model and believe the current market environment presents unique real estate opportunities at more favorable valuations. At the same time, we are also focused within the insurance sector, and given the fact we own agencies versus carriers, these businesses tend to be well insulated during periods of market volatility. Through our partnership with Nsure.com, we can significantly enhance the efficiency of our bricks-and-mortar agencies, as well as benefit from more favorable multiples as we evaluate future acquisition opportunities. Once again, I would like to thank shareholders for your confidence, trust, and support, and we look forward to sharing our plans for Reliance’s continued growth.”
The conference call will be available via telephone by dialing toll free 877-407-8033 for U.S. callers or +1 201-689-8033 for international callers. A webcast replay will be archived on the Company’s website and a telephone replay of the call will be available approximately one hour following the call, through June 17, 2020 and can be accessed by dialing 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering conference ID: 34843.
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (OTCQB: RELI) is moving forward with its goal to operate as a holding company for several companies in the real estate, insurance brokerage, and potentially other sectors. RELI’s focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including both real estate and insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
