（来源：吴说） 来源：市场资讯 吴说获悉，美股上市公司 Reliance Global Group（纳斯达克：RELI）宣布已完成数字资产金库（DAT） 的全面调整，清仓此前持仓并将资金全部重新配置至 Zcash（ZEC），具体金额未披露。公司称，此举 基于与加密顾问委员会共同完成的战略评估，未来将围绕 Zcash 建立更聚焦的金库结构，以提升资产透 明度与战略清晰度。此前 Reliance 在其 DAT 战略中购买过 ADA 和 ETH，具体金额未披露。 ...

⚡️ NEW: Nasdaq-listed Reliance Global Group consolidates its entire digital asset treasury into Zcash, citing privacy architecture as ideal for institutional strategy. https://t.co/YzidoHDmNv ...

Zcash’s Dramatic Surge Over the Past 90 Days Underscores Rising Demand for Privacy-Enabled, Institution-Ready Digital Assets; Supports Reliance’s Focused Digital Asset Treasury StrategyLAKEWOOD, NJ, Nov. 25, 2025 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance”, “we” or the “Company”) today announced that it has completed a strategic realignment of its Digital Asset Treasury (“DAT”), by consolidating its digital asset position into Zcash (ZEC). The Company has fully exited its prio ...

Appointment strengthens Reliance’s leadership at the intersection of InsurTech and decentralized finance, driving the Company’s evolution into blockchain-based value creationLAKEWOOD, NJ, Nov. 19, 2025 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance,” “we” or the “Company”) today announced the appointment of Blake Janover, a recognized pioneer in bringing digital assets into public markets, as Chairman of the Company’s Crypto Advisory Board (CAB). In this role, Mr. Janover will adv ...

Financial Data and Key Metrics Changes - Unrestricted cash increased by approximately 590% to $2.6 million compared to the prior fiscal year end, reflecting improved liquidity [12][7] - Working capital rose by $1.2 million, or 284%, to $1.6 million, indicating a stronger financial position [12][7] - Equity increased by $3.7 million, or 125%, to $6.8 million, demonstrating significant growth in shareholder value [12][7] - Commission income totaled $2.5 million for the quarter, down from $3.4 million in 2024, primarily due to the asset sale of Fortman [13][14] - Net loss for the quarter was $1.2 million compared to $0.8 million in the prior year, influenced by non-cash equity compensation [15][14] Business Line Data and Key Metrics Changes - The sale of Fortman Insurance Services resulted in a $3 million gain, but also led to a reduction in short-term commission income [15][6] - Salaries and wages increased to $3.9 million this quarter from $1.7 million in 2024, mainly due to non-cash equity grants [14][15] - General and administrative expenses rose to $1.1 million from $0.8 million in 2024, attributed to non-employee non-cash equity payments [14][15] Market Data and Key Metrics Changes - The decrease in commission income was influenced by lower medical commission revenues and market conditions affecting the insurance sector [14][15] Company Strategy and Development Direction - The company is focusing on streamlining operations and reallocating resources towards higher-margin technology-driven business segments [5][6] - The launch of the new client service center aims to enhance scalability and partner productivity, reinforcing the company's InsureTech growth strategy [8][9] - The company is diversifying its treasury through a digital asset treasury initiative, investing in leading digital assets to enhance its balance sheet and maintain liquidity [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strengthened position and commitment to executing a disciplined growth strategy [11][10] - The company aims to balance reinvestment in operations with returning value to shareholders, as evidenced by the declaration of a special cash dividend [9][10] Other Important Information - The board approved a special cash dividend of $0.0003 per share, payable on December 2, 2025, to shareholders of record as of October 30, 2025 [9][10] - The company is committed to integrating technology and centralized resources to enhance collaboration and profitability across its platform [9][8] Q&A Session Summary Question: Was the dividend a one-time event or will it be considered in future quarters? - Management indicated that the dividend is something they are considering for the future, emphasizing their commitment to returning value to shareholders [17][18]

Acquisition Strategy - As of September 30, 2025, the company has acquired nine insurance agencies as part of its aggressive acquisition strategy[96] - The company has extensive experience in acquiring and managing insurance portfolios, focusing on undervalued agencies in growing or underserved segments[95] Market Expansion and Digital Initiatives - The company plans to focus on geographic expansion and market share growth over the next 12 months, alongside its Digital Asset Treasury Initiative[97] - The 5MinuteInsure.com platform operates in 46 states, allowing consumers to compare quotes from up to 30 insurance carriers in approximately 5 minutes[99] - The RELI Exchange platform has increased its agent roster by over 300% since its inception, enhancing the company's B2B capabilities[100] - The company aims to tokenize insurance-linked assets, potentially creating a new investment class that increases transparency and liquidity in the insurance market[101] - The company has adopted a "OneFirm" strategy to enhance cross-selling and operational efficiency across its agencies[102] Financial Performance - Commission Income decreased by 27% to $2,495,975 from $3,441,458, primarily due to loss of revenue from the sale of Fortman Insurance Services[130] - Salaries and wages increased by 129% to $3,912,326 from $1,707,737, influenced by non-cash share-based compensation[130] - General and administrative expenses rose by 36% to $1,120,776 from $821,510, driven by director non-cash equity awards[130] - Total operating expenses increased by 62% to $6,409,658 from $3,953,435, reflecting overall operational changes[130] - Loss from operations significantly increased by 664% to $(3,913,683) from $(511,977)[130] - Interest expense decreased by 31% to $(246,722) from $(356,320) due to payoffs on loan balances[130] - Gain on sale of business amounted to $3,033,554, reflecting a significant increase compared to the previous period[131] - AEBITDA improved to $(707,021) from $(749,530), indicating a positive trend in operational efficiency[131] - Other income decreased by 125% to $(16,470) from $65,785, primarily due to fluctuations in digital asset valuations[131] - The company is focusing on market expansion and operational efficiencies to mitigate losses and improve financial performance[130] - Commission Income decreased by 8.72% to $9,818,872 compared to $10,757,238 in the previous year[132] - Salaries and Wages increased by 58% to $8,705,682, primarily due to the elimination of "FIS" salaries[132] - General and Administrative expenses rose by 30% to $4,129,842, driven by director non-cash equity awards[132] - Loss from operations increased by 15% to $(7,692,638) compared to $(6,690,278) in the previous year[132] - Interest expense decreased by 23% to $(844,846) due to payoffs on the majority of loan balances[132] - Gain on sale of business (FIS) amounted to $3,033,554, reflecting a significant increase[133] - Total operating expenses remained relatively stable at $17,511,510, with a slight increase of 0% compared to the previous year[132] - AEBITDA showed a significant decline of 339% to $(918,706) from $(209,113) in the previous year[133] - Asset impairment was recorded at $0, a decrease of 100% from $3,922,110 in the previous year[132] - Marketing and Advertising expenses decreased by 34% to $201,399, aligning with the company's current marketing strategy[132] - For the nine months ended September 30, 2025, the company reported a net loss of approximately $5.6 million, an improvement from a net loss of approximately $7.7 million for the same period in 2024[134] - The company achieved AEBITDA of approximately $(918,706) for the nine months ended September 30, 2025, compared to $(209,114) for the same period in 2024[134] Capital and Financing Activities - The company entered into a Common Stock Purchase Agreement allowing it to sell up to $10 million of newly issued shares to White Lion Capital, enhancing its capital resources[113] - The company issued 450,000 shares of Common Stock for net proceeds of approximately $350,000, with an additional 300,000 shares issued post-quarter for approximately $300,000, leaving a remaining capacity of approximately $9.3 million under the ELOC[115] - The company sold 1,853,048 shares under the At-the-Market Program, generating net proceeds of approximately $2,021,681 after deducting sales commissions and offering expenses[117] - The company entered into a Private Placement agreement for the purchase of up to 1,488,096 shares at an exercise price of $0.001 per share, and up to 2,976,192 shares at an exercise price of $1.43 per share[118] - The company issued $100,000 of fully earned common stock as commitment shares in two tranches, with the first tranche of $50,000 issued as of September 30, 2025[114] - The company executed Amendment No. 1 to the Common Stock Purchase Agreement with White Lion Capital, allowing for a Fixed Purchase Notice option to sell shares at a price equal to 90% of the lowest traded price during a specified time[116] - The company intends to use net proceeds from the ATM Program for general corporate purposes[117] - The company has filed a registration statement on Form S-1 for the resale of shares issuable under the White Lion Agreements, which was declared effective on September 4, 2025[114] - The company raised approximately $4.5 million in net proceeds through equity financing programs during the nine months ended September 30, 2025, including $2.0 million from the ATM Program and $2.1 million from the Private Placement-2025[137] - The company has approximately $9.3 million of capacity remaining under the Equity Line of Credit as of September 30, 2025[138] Cash Flow and Liquidity - As of September 30, 2025, the company had a total cash balance of approximately $3.5 million, an increase from approximately $1.8 million as of December 31, 2024[140] - Cash flows provided by investing activities were approximately $4.3 million for the nine months ended September 30, 2025, compared to cash flows used of approximately $58,787 for the same period in 2024[145] - The company experienced a net cash used in operating activities of approximately $1.5 million for the nine months ended September 30, 2025, a slight improvement from $1.6 million for the same period in 2024[144] - The company reported a significant increase of approximately 590% in unrestricted cash since the fiscal year-end 2024[137] - Management intends to utilize net proceeds from financing for general corporate purposes, including working capital and technology development[139] Economic Outlook - The company anticipates that inflation may materially impact pricing and operating expenses in future periods[141]

Core Insights - Reliance Global Group, Inc. reported a significant transformation in its financial position, highlighted by the $5 million sale of Fortman Insurance Services, resulting in a $3 million gain and a 50% reduction in long-term debt [2][4] - The company is on track to issue its first-ever dividend of $0.03 per share, payable on December 2, 2025, reflecting confidence in its operational strength and strategic direction [4][5] - The company is advancing its Digital Asset Treasury Initiative, integrating blockchain technology into its capital appreciation model, and has acquired positions in several leading digital assets [2][6] Financial Performance - Unrestricted cash increased by approximately 590%, or $2.2 million, to $2.6 million compared to the prior fiscal year-end, while working capital grew by $1.2 million, or 284%, to $1.6 million [2][9] - Equity improved by approximately $3.7 million, or 125%, to $6.8 million, indicating a strengthened balance sheet [2][9] - Commission income for Q3 2025 totaled $2.5 million, down from $3.4 million in Q3 2024, primarily due to the sale of Fortman Insurance Services [9] Operational Updates - The company has implemented a Client Service Center within its RELI Exchange platform to enhance scalability and operational efficiency [2] - Total operating expenses for the quarter included approximately $2.7 million in non-cash stock-based compensation, reflecting a strategic investment in talent retention [2][9] - The OneFirm initiative continues to drive cost alignment and operational efficiency across the organization [2] Future Outlook - The company expresses confidence in its strategic direction and long-term opportunities, emphasizing disciplined execution and sustainable growth [6] - Reliance aims to build a more focused business with stronger financial flexibility and a clear path toward long-term shareholder value [2][6]

Core Viewpoint - Reliance Global Group, Inc. will host a conference call on November 6, 2025, to discuss its third-quarter financial results and provide a business update [1]. Group 1: Conference Call Details - The conference call is scheduled for November 6, 2025, at 4:30 PM Eastern Time [1]. - U.S. callers can join the call by dialing +1 800-715-9871, while international callers can dial +1 646-307-1963 [2]. - A webcast of the call will be available on the company's investor relations website [2]. Group 2: Replay Information - A webcast replay will be accessible through the investor relations section of the company's website until November 6, 2026 [3]. - A telephone replay will be available approximately one hour after the call until November 20, 2025, with specific dialing instructions for U.S. and international callers [3]. Group 3: Company Overview - Reliance Global Group, Inc. is an InsurTech pioneer utilizing AI and cloud-based technologies to enhance efficiencies in the insurance agency and brokerage industry [4]. - The company's B2B platform, RELI Exchange, offers independent insurance agencies tools to compete with larger national agencies while reducing operational costs [4]. - The B2C platform, 5minuteinsure.com, provides quick online insurance quotes for auto, home, and life insurance using AI and data mining [4]. - The company also operates a portfolio of retail insurance agencies across the U.S., offering a variety of insurance products [4].

Core Insights - Reliance Global Group has acquired Solana (SOL), enhancing its Digital Asset Treasury initiative and expanding its portfolio of digital assets [1][2][3] - The addition of Solana follows previous investments in Bitcoin, Ethereum, Cardano, and XRP, reflecting a strategy to diversify across leading blockchain ecosystems [2][3] - Solana is recognized for its high transaction throughput, low costs, and a growing ecosystem of decentralized applications, making it a significant asset for Reliance [3][5] Company Strategy - The acquisition of Solana aligns with Reliance's long-term vision of integrating advanced technologies like blockchain and AI with its existing strengths in insurance and financial services [3][4] - Reliance aims to create long-term shareholder value through a disciplined approach to digital asset management and innovation [2][4] - The company has declared a special cash dividend of $0.03 per share, reflecting confidence in its financial strength and growth trajectory [4] Blockchain Ecosystem - Solana's blockchain capabilities include processing over 65,000 transactions per second, confirming blocks in approximately 400 milliseconds, and maintaining low transaction fees [5] - The network supports a diverse range of decentralized platforms and applications, contributing to its expansive ecosystem [5]

Core Insights - XRP is gaining attention due to its potential in decentralized finance (DeFi), with Charles Hoskinson estimating nearly $100 billion of idle XRP could soon enter yield-bearing ecosystems [1][2][12] - Reliance Global Group has added XRP to its corporate digital asset treasury, indicating institutional interest in XRP as part of a diversified blockchain strategy [4][5][6] Group 1: DeFi Potential - Hoskinson highlighted that the XRP community has approximately $100 billion of yield-free XRP, which could be transformed into a significant source of DeFi liquidity with regulatory clarity and real-world asset integration [2][12] - The integration of XRP with other assets like Bitcoin and ADA could potentially generate $10–15 billion in total value locked (TVL) and increase transaction volume [3][12] - The narrative around XRP is shifting from being primarily a transactional token to a potential structural pillar of DeFi [12][14] Group 2: Institutional Adoption - Reliance Global confirmed the purchase of XRP as part of its Digital Asset Treasury strategy, which also includes Bitcoin, Ethereum, and Cardano [4][5] - The company cited XRP's efficiency as a reason for its inclusion, viewing it as a measured step towards diversified blockchain exposure [5][6] - CEO Ezra Beyman emphasized the goal of building a balanced digital portfolio that reflects innovation and long-term shareholder value [6] Group 3: Technical Analysis - XRP is currently trading near $2.91, consolidating within a symmetrical triangle formation, with resistance at $2.93 and immediate support at $2.85 [9][10] - A daily close above $2.93 could lead to a price increase towards $3.07, while failure to maintain support may result in a decline to $2.64 [11]