Reliance Global Group, Inc. (EZRA): auditor change — Reliance Global restates 2022 quarterly results due to EPS errors; Q1 2023 revenue up 29%

Reliance Global Group, Inc.

Restating Q1, Q2, Q3 2022 EPS calculations due to improper sequencing and miscalculated numerator/denominator.
Revenue, expenses and net income for 2022 quarters remain unchanged; only EPS affected.
Material weakness in internal controls over financial reporting identified for those periods.
Q1 2023 revenue up 29% YoY; operating costs down 9%; net operating results improved 60%.
RELI Exchange platform now has over 250 agency partners; new life insurance quoting tool launched.

item 2.02 item 4.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

Reliance Global Group, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Mazars USA LLP

Exact text from the filing

On May 12, 2023, the Company determined that the following financial statements should be restated and should no longer be relied upon

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Reliance Global Group, Inc. reported financial results for first quarter ended March 31, 2023.

Period: first quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On May 18, 2023, Reliance Global Group, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended May 18, 2023.

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6 auditor changes filed in the last 30 days. Browse all auditor changes →

Reliance Global Group, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-018100

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