Reliance Global Group, Inc.

Reliance Global Group, Inc. has completed the all-cash acquisition of the Oblivus GPU cloud computing platform and related assets from Skyportal Inc. through its wholly-owned subsidiary, GPU Exchange Corp. The acquisition, which marks Reliance's entry into the AI cloud and infrastructure market, involved an initial payment of $3 million in cash, with potential for up to $750,000 in additional milestone payments based on revenue targets. Oblivus generated approximately $1.5 million in revenue in the twelve months prior to the acquisition. The founder of Oblivus will provide consulting services for 12 months, receiving $250,000 in cash and potentially up to $600,000 in company stock, subject to performance and stock price targets. The company remains debt-free following the transaction.

Reliance Global Group, Inc. announced its ticker symbol on The Nasdaq Capital Market will change from "EZRA" to "XGPU", effective November 10, 2026. This change reflects the company's strategic entry into the GPU cloud and artificial intelligence (AI) infrastructure market, following the completion of its acquisition of assets from Oblivus on November 3, 2026. The company will also adopt "GPU Exchange" as its doing-business-as name for the acquired business, while its legal name remains Reliance Global Group, Inc. The company stated its focus is on scaling GPU computing capacity and growing the GPU Exchange marketplace.

Reliance Global Group, Inc. sold 251,666 shares of its common stock to White Lion Capital, LLC, generating approximately $716,000 in gross proceeds. The shares were issued at prices between $2.79 and $2.90 per share under an existing purchase agreement. Following this transaction, the company has 1,601,770 shares of common stock issued and outstanding.

Reliance Global Group reported its second quarter 2026 financial results, showing a 26% improvement in net loss to approximately $2.0 million and a 28% reduction in operating expenses year-over-year. The company also highlighted significant progress in its AI-driven transformation, including the launch and deployment of a proprietary AI agent for secure browser automation across its insurance operations. This AI strategy aims to enhance operational efficiency, automate workflows, and create long-term growth opportunities, despite a decrease in commission income and a wider Adjusted EBITDA loss.

Reliance Global Group, Inc. announced a non-binding letter of intent to sell its Altruis Benefit Consulting subsidiary for $11 million in cash. This non-dilutive transaction is expected to generate approximately $7.6 million in incremental cash after fully repaying the company's $4.4 million term debt, eliminating about $1 million in annual interest expense. The proceeds will be used to fund the continued development of its proprietary AI platform and RELI Exchange InsurTech operations, aligning with its portfolio strategy to monetize mature assets and reinvest in growth opportunities.

Reliance Global Group reported a revenue decrease of 18.9% to $5.94 million for the first half of 2026, with a net loss of $3.46 million, an improvement from the prior year. The company executed a 1-for-40 reverse stock split in May 2026 and significantly increased common shares outstanding through various offerings. Strategic investments were made in Enquantum and Innervate, and LifeSci Global Group LLC was formed.

Reliance Global Group reported financial results for the second quarter ended June 30, 2026, with net loss improving by approximately 26% and operating expenses decreasing by 28% year-over-year. The company also announced the launch and deployment of its proprietary AI agent for secure browser automation, aiming to enhance operational efficiency and create new growth opportunities. This strategic move is expected to improve productivity, streamline workflows, and enhance customer service within its insurance operations, with potential for future commercialization.

Reliance Global Group's Compensation Committee approved accelerated vesting for certain restricted stock awards on July 27, 2026. This amendment applies to awards granted on June 24, 2026, and affects employees, named executive officers, and directors. The company stated the accelerations are in the best interests of the company and shareholders by furthering retention objectives, aligning management with shareholder value, and recognizing past contributions.

Reliance Global Group, Inc. announced it will host a conference call on Thursday, July 30, 2026, at 4:30 PM Eastern Time. The call will discuss the company's financial results for the second quarter of 2026 and provide a business update. Investors can access the call via telephone or a live webcast, with replays available for both options.

Reliance Global Group, Inc. announced the launch of its proprietary AI agent designed for secure browser automation in regulated back-office operations. This in-house built agent aims to automate thousands of repetitive tasks for insurance teams while ensuring regulatory compliance through robust security features like policy-enforced controls and audit trails. The company expects the platform to enhance operational efficiency, aid in agency integration, and plans to commercialize it through various offerings, marking a significant step in its AI strategy.