NEW YORK, NY / ACCESSWIRE / February 19, 2019 / Reliance Global Group, Inc. (OTC PINK: RELI) ("RELI" or the "Company"). As noted in our recently filed Quarterly Report, we are involved in litigation with EMA Financial ("EMA"). To be clear, RELI's position in the litigation is that of the Plaintiff and NOT the defendant.
The total shares at stake represent less than 1% of the total shares outstanding. Those shares are recently issued restricted shares, and are not publicly tradable. The number of shares in the "float," as reported at OTC Markets, is the same 31,979,700 shares.
Management strongly believes this litigation will have no impact on our present and future business operations. As previously announced, RELI's plan is to continue executing its focused strategy of pursuing acquisitions in the real estate and insurance agency sectors, to fully leverage management's expertise in these industries.
About Reliance Global Group
Reliance Global Group, Inc. (OTC PINK: RELI) is moving forward with its goal to operate as a holding company for companies in the real estate, insurance brokerage, and potentially other sectors. RELI's focus will 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.
Ezra Beyman, Chairman and CEO
SOURCE: Reliance Global Group, Inc.