LAKEWOOD, N.J., Dec. 19, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Reliance Global Group, Inc. (OTC: RELI) ("RELI" or the "Company"), today announced that the Company has applied for OTCQB Venture Market (OTCQB) listing. The listing is subject to delivery of the Company's 2018 consolidated audit by Friedman, LLP, the Company's independent registered public accountant, which is substantially completed and will be posted immediately thereafter. Upon listing on the OTCQB, the Company will continue to trade under the symbol "RELI."
Ezra Beyman, CEO of Reliance Global Group, stated, "Submitting our application for the OTCQB is an important stepping-stone towards our planned listing on a national exchange. We believe the move to the OTCQB will provide greater transparency and increased exposure, as many broker dealers are unable to trade or recommend OTC Pink stocks."
Mr. Beyman continued, "This is an exciting time for the Company, as we continue to execute on our business plan. It is important to note that our 2018 audited financial results will not reflect the acquisitions in 2019, which put us at a revenue run in excess of $7 million with over $17 million of assets as of September 30, 2019. Moreover, we have identified additional acquisitions we believe will help further scale the business and contribute to enhancing our balance sheet and cash flow going forward. Overall, 2019 has been an eventful year and we look forward to a number of significant developments as we head into the new year."
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (OTC PINK: 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.
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.