$RELI
Reliance Global Group, Inc.

2024 Q3 Form 10-Q Financial Statement

#000149315224029072 Filed on July 25, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $3.441M $3.233M $3.196M
YoY Change 5.06% 1.17% -24.04%
Cost Of Revenue $902.3K $886.4K $822.3K
YoY Change 12.78% 7.79% -3.28%
Gross Profit $2.539M $2.347M $2.374M
YoY Change 2.39% -1.12% -29.29%
Gross Profit Margin 73.78% 72.59% 74.27%
Selling, General & Admin $2.629M $3.024M $3.556M
YoY Change -19.34% -14.98% -21.76%
% of Gross Profit 103.55% 128.84% 149.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $421.8K $469.8K $767.4K
YoY Change -35.11% -38.78% 1.45%
% of Gross Profit 16.61% 20.02% 32.33%
Operating Expenses $3.953M $4.380M $5.034M
YoY Change -16.07% -12.99% -18.17%
Operating Profit -$512.0K -$1.147M -$1.838M
YoY Change -64.32% -37.62% -5.48%
Interest Expense -$391.1K -$403.5K -$370.9K
YoY Change -6.88% 8.79% 90.28%
% of Operating Profit
Other Income/Expense, Net -$325.3K -$342.8K -$2.032M
YoY Change -125.1% -83.13% -116.33%
Pretax Income -$837.3K -$1.489M -$3.870M
YoY Change 498.08% -61.51% -136.87%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$837.3K -$1.489M -$1.055M
YoY Change 502.37% 41.14% -110.05%
Net Earnings / Revenue -24.33% -46.06% -33.02%
Basic Earnings Per Share -$0.67 -$2.76 -$0.39
Diluted Earnings Per Share -$0.67 -$2.76 -$0.39
COMMON SHARES
Basic Shares Outstanding 1.239M shares 5.692M shares 1.631M shares
Diluted Shares Outstanding 1.253M shares 539.1K shares 2.717M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $925.3K $1.406M $1.275M
YoY Change -48.02% 10.28% -57.22%
Cash & Equivalents $2.354M $2.816M $2.680M
Short-Term Investments
Other Short-Term Assets $1.787M $1.796M $1.959M
YoY Change 4.52% -8.31% -1.79%
Inventory
Prepaid Expenses
Receivables $1.116M $953.3K $978.9K
Other Receivables $5.949K $167.3K $2.901M
Total Short-Term Assets $3.835M $4.322M $7.132M
YoY Change -18.39% -39.4% 16.9%
LONG-TERM ASSETS
Property, Plant & Equipment $136.5K $140.5K $149.1K
YoY Change -6.49% -5.77% -9.1%
Goodwill $6.693M $6.693M $14.29M
YoY Change -53.15% -53.15% -57.33%
Intangibles $5.757M $6.153M $12.31M
YoY Change -50.69% -50.01% -16.56%
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $21.79K $21.79K $23.28K
YoY Change -6.4% -6.41% 0.0%
Total Long-Term Assets $13.58M $14.02M $27.74M
YoY Change -49.71% -49.46% -45.81%
TOTAL ASSETS
Total Short-Term Assets $3.835M $4.322M $7.132M
Total Long-Term Assets $13.58M $14.02M $27.74M
Total Assets $17.42M $18.34M $34.88M
YoY Change -45.07% -47.4% -39.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.025M $1.421M $911.3K
YoY Change 2.51% 55.91% -13.32%
Accrued Expenses $251.1K $263.4K $370.9K
YoY Change -28.26% -28.98% -29.88%
Deferred Revenue
YoY Change
Short-Term Debt $106.7K $108.5K $195.0K
YoY Change -2.99% -44.35% -48.22%
Long-Term Debt Due $1.533M $1.471M $1.329M
YoY Change 13.2% 10.69% 41.96%
Total Short-Term Liabilities $3.404M $3.722M $4.865M
YoY Change -12.81% -23.49% -48.63%
LONG-TERM LIABILITIES
Long-Term Debt $9.888M $10.29M $11.71M
YoY Change -13.12% -12.14% -9.46%
Other Long-Term Liabilities $764.3K $781.9K $4.395M
YoY Change -64.29% -82.21% -65.2%
Total Long-Term Liabilities $9.888M $10.29M $11.71M
YoY Change -13.12% -12.14% -9.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.404M $3.722M $4.865M
Total Long-Term Liabilities $9.888M $10.29M $11.71M
Total Liabilities $14.60M $15.45M $21.85M
YoY Change -18.2% -29.27% -38.23%
SHAREHOLDERS EQUITY
Retained Earnings -$46.68M -$45.84M -$29.84M
YoY Change 55.72% 53.63% 119.02%
Common Stock $124.9K $89.18K $176.5K
YoY Change -36.97% -49.48% -85.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.821M $2.889M $13.03M
YoY Change
Total Liabilities & Shareholders Equity $17.42M $18.34M $34.88M
YoY Change -45.07% -47.4% -39.13%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$837.3K -$1.489M -$1.055M
YoY Change 502.37% 41.14% -110.05%
Depreciation, Depletion And Amortization $421.8K $469.8K $767.4K
YoY Change -35.11% -38.78% 1.45%
Cash From Operating Activities -$758.3K -$685.2K -$942.2K
YoY Change -138.11% -27.28% -2.68%
INVESTING ACTIVITIES
Capital Expenditures $22.26K $7.090K $84.28K
YoY Change 11.3% -91.59% -136.04%
Acquisitions
YoY Change
Other Investing Activities $915.7K
YoY Change -115.26%
Cash From Investing Activities -$22.26K -$7.090K $831.4K
YoY Change 11.3% -100.85% -113.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 318.6K 1.395M -763.2K
YoY Change -121.82% -282.76% -113.57%
NET CHANGE
Cash From Operating Activities -758.3K -685.2K -942.2K
Cash From Investing Activities -22.26K -7.090K 831.4K
Cash From Financing Activities 318.6K 1.395M -763.2K
Net Change In Cash -461.9K 702.6K -874.0K
YoY Change -190.57% -180.39% -44.62%
FREE CASH FLOW
Cash From Operating Activities -$758.3K -$685.2K -$942.2K
Capital Expenditures $22.26K $7.090K $84.28K
Free Cash Flow -$780.6K -$692.3K -$1.026M
YoY Change -139.62% -32.56% 39.79%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q2 RELI Stock Issued During Period Value For Vested Stock Awards
StockIssuedDuringPeriodValueForVestedStockAwards
usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
usd
us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
usd
us-gaap Proceeds From Sale Of Investment Projects
ProceedsFromSaleOfInvestmentProjects
usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
usd
RELI Payments On Earnout Liabilities
PaymentsOnEarnoutLiabilities
usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
usd
us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
usd
CY2024Q1 RELI Warrants Exercised Or Transferred
WarrantsExercisedOrTransferred
usd
RELI Acquisitions And Settlements
AcquisitionsAndSettlements
usd
RELI Earnout Transferred To Loans Payable Related Parties
EarnoutTransferredToLoansPayableRelatedParties
usd
CY2023 RELI Earnout Payments
EarnoutPayments
usd
CY2024Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
usd
CY2024Q2 RELI Earnout Liability Current
EarnoutLiabilityCurrent
usd
CY2024Q2 RELI Earnout Liability Noncurrent
EarnoutLiabilityNoncurrent
usd
CY2023Q4 RELI Earnout Liability Noncurrent
EarnoutLiabilityNoncurrent
usd
CY2024Q2 RELI Recognition And Change In Fair Value Of Warrant Liabilities
RecognitionAndChangeInFairValueOfWarrantLiabilities
usd
CY2023Q2 RELI Recognition And Change In Fair Value Of Warrant Liabilities
RecognitionAndChangeInFairValueOfWarrantLiabilities
usd
CY2024Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
shares
RELI Recognition And Change In Fair Value Of Warrant Liabilities
RecognitionAndChangeInFairValueOfWarrantLiabilities
usd
RELI Recognition And Change In Fair Value Of Warrant Liabilities
RecognitionAndChangeInFairValueOfWarrantLiabilities
usd
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
shares
RELI Changes Due To Payments
ChangesDueToPayments
usd
CY2024Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
usd
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q2 RELI Recognition And Change In Fair Value Of Warrant Liability
RecognitionAndChangeInFairValueOfWarrantLiability
60667 usd
CY2023Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
2814445 usd
CY2023Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
17.61
CY2023Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
17.61
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
8911039 usd
CY2023Q1 RELI Common Shares Payments For Earnouts Value
CommonSharesPaymentsForEarnoutsValue
982478 usd
CY2023Q1 RELI Stock Issued During Period Value Common Shares Payments For Related Party Convertible Debt
StockIssuedDuringPeriodValueCommonSharesPaymentsForRelatedPartyConvertibleDebt
645000 usd
CY2023Q1 RELI Stock Issued During Period Value Reverse Stock Splits
StockIssuedDuringPeriodValueReverseStockSplits
-4646 usd
CY2023Q1 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
3446484 usd
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
43797 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1788538 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
12235614 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
12235614 usd
CY2023Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
377995 usd
CY2023Q2 RELI Common Shares Payments For Earnouts Value
CommonSharesPaymentsForEarnoutsValue
1433700 usd
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
35367 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-1055287 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
13027389 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
13027389 usd
us-gaap Net Income Loss
NetIncomeLoss
-6836057 usd
us-gaap Net Income Loss
NetIncomeLoss
-2843824 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1003941 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1309227 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
3922110 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
23442 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
23442 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1574 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
4355 usd
us-gaap Share Based Compensation
ShareBasedCompensation
264331 usd
us-gaap Share Based Compensation
ShareBasedCompensation
79164 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
224477 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
377995 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-156000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-2673723 usd
RELI Earnout Fair Value And Writeoff Adjustments
EarnoutFairValueAndWriteoffAdjustments
47761 usd
RELI Earnout Fair Value And Writeoff Adjustments
EarnoutFairValueAndWriteoffAdjustments
1019925 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-353040 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-15444 usd
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
847 usd
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
1072 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
166393 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-10816 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
161708 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
303322 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
1500 usd
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
585215 usd
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-40135 usd
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
7020 usd
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
115988 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-889594 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-2914430 usd
us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
907329 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-889594 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2007101 usd
us-gaap Proceeds From Sale Of Investment Projects
ProceedsFromSaleOfInvestmentProjects
900000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
15397 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13010 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
21134 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
151862 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-36531 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
735128 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
680093 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
450935 usd
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
106460 usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
158788 usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
58707 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
437754 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
649870 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
2068344 usd
RELI Payments On Earnout Liabilities
PaymentsOnEarnoutLiabilities
344225 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
3446484 usd
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
1002825 usd
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
2060161 usd
us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
-17701 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1002825 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2042460 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
76700 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
770487 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2738911 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1909769 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2815611 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2680256 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2816000 usd
CY2024Q2 us-gaap Assets Current
AssetsCurrent
4322000 usd
CY2024Q2 us-gaap Liabilities Current
LiabilitiesCurrent
3722000 usd
CY2024Q2 RELI Working Capital Deficiency
WorkingCapitalDeficiency
-600000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
2889000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-6178000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
3922000 usd
us-gaap Profit Loss
ProfitLoss
-6836000 usd
CY2024Q2 us-gaap Deferred Offering Costs
DeferredOfferingCosts
1728825 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_zXj45y0rZz14" style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_861_zXGQLonV04j4">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures in the financial statements and accompanying notes. Management bases its estimates on historical experience and on assumptions believed to be reasonable under the circumstances. Actual results could differ materially from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2 us-gaap Cash
Cash
1405824 usd
CY2023Q2 us-gaap Cash
Cash
1274743 usd
CY2024Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
1409787 usd
CY2023Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
1405513 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
2815611 usd
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
2680256 usd
CY2023Q4 RELI Warrant Commitment
WarrantCommitment
268993 usd
CY2024Q1 RELI Warrant Commitment Unrealized Gain Loss
WarrantCommitmentUnrealizedGainLoss
95333 usd
CY2024Q1 RELI Warrant Commitment
WarrantCommitment
173660 usd
CY2024Q1 RELI Warrant Commitment
WarrantCommitment
173660 usd
CY2024Q2 RELI Warrant Commitment Unrealized Gain Loss
WarrantCommitmentUnrealizedGainLoss
60667 usd
CY2024Q2 RELI Warrants Exercised Or Transferred
WarrantsExercisedOrTransferred
112667 usd
CY2024Q2 RELI Warrant Commitment
WarrantCommitment
326 usd
CY2024Q2 RELI Warrant Commitment
WarrantCommitment
326 usd
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
159867 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
2709478 usd
CY2023 RELI Acquisitions And Settlements
AcquisitionsAndSettlements
-3260403 usd
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease
47761 usd
CY2023 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease
1716873 usd
RELI Earnout Payable In Common Shares
EarnoutPayableInCommonShares
-17628 usd
CY2023 RELI Earnout Payable In Common Shares
EarnoutPayableInCommonShares
-159867 usd
CY2023 RELI Earnout Transferred To Loans Payable Related Parties
EarnoutTransferredToLoansPayableRelatedParties
-846214 usd
RELI Earnout Payments
EarnoutPayments
-190000 usd
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
159867 usd
CY2023Q4 RELI Earnout Liability Current
EarnoutLiabilityCurrent
-159867 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3233342 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3233342 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3195905 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3195905 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7315780 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7315780 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7135008 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7135008 usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022Q4 us-gaap Goodwill
Goodwill
14287099 usd
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
7594000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
6693099 usd
CY2024Q2 us-gaap Goodwill
Goodwill
6693099 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
3922110 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
14996870 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-8844118 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6152752 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
19750417 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-8707660 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
11042757 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
764453 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1397041 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1148216 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
807696 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
717314 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
1318032 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6152752 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
11761086 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
12417737 usd
CY2024Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
1471233 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1390766 usd
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
10289853 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
11026971 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
714133 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1552772 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1729160 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1925603 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2106978 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
3986322 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
12014968 usd
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
253882 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
11761086 usd
CY2024Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0795 pure
CY2023Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.1195 pure
CY2024Q2 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
108525 usd
CY2023Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
56197 usd
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
117647059 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.086
CY2024Q2 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-17 reverse stock split
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1037027 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
280117 shares
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
245766 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
35367 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
264331 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
79164 usd
CY2024Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-1489395 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-3869732 usd
CY2024Q2 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersBasic
-1489395 usd
CY2023Q2 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersBasic
-3869732 usd
CY2024Q2 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersDiluted
-1489395 usd
CY2023Q2 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersDiluted
-3869732 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
539133 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
159795 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
539133 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
159795 shares
CY2024Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-2.76
CY2023Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-24.21
CY2024Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-2.76
CY2023Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-24.21
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-6836057 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-997776 usd
us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersBasic
-6836057 usd
us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersBasic
-997776 usd
us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersDiluted
-6836057 usd
us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersDiluted
-997776 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
462773 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125791 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
462773 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
125791 shares
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-14.77
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-7.93
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-14.77
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-7.93
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
102073 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
123326 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
207029 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
239296 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y29D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0835 pure
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
180322 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
265399 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
229522 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
215325 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
182190 usd
CY2024Q2 RELI Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
225136 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1297894 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
252939 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1044955 usd
CY2024Q2 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
0 usd
CY2023Q4 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
0 usd
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
159867 usd
RELI Changes Due To Fair Value Adjustments
ChangesDueToFairValueAdjustments
47761 usd
RELI Changes Due To Amount Payable In Common Shares
ChangesDueToAmountPayableInCommonShares
-17628 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
2709478 usd
CY2023 RELI Changes Due To Payments
ChangesDueToPayments
-3260403 usd
CY2023 RELI Changes Due To Fair Value Adjustments
ChangesDueToFairValueAdjustments
1716873 usd
CY2023 RELI Changes Due To Amount Payable In Common Shares
ChangesDueToAmountPayableInCommonShares
-159867 usd
CY2023 RELI Transfers To Loans Payable Related Parties
TransfersToLoansPayableRelatedParties
-846214 usd
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
159867 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001493152-24-029072-index-headers.html Edgar Link pending
0001493152-24-029072-index.html Edgar Link pending
0001493152-24-029072.txt Edgar Link pending
0001493152-24-029072-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
form10-q_htm.xml Edgar Link completed
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
reli-20240630.xsd Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
reli-20240630_def.xml Edgar Link unprocessable
reli-20240630_cal.xml Edgar Link unprocessable
reli-20240630_lab.xml Edgar Link unprocessable
reli-20240630_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable