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10-Q: Quarterly report

10-Q: Quarterly report

10-Q:季度報表
美股sec公告 ·  05/21 04:18
牛牛AI助理已提取核心訊息
Reliance Global Group, Inc. (Reliance) reported its financial performance for the quarter ended March 31, 2024, with a net loss of $5.35 million compared to a net loss of $1.79 million for the same period in the previous year. The loss from operations was $5.03 million, a significant increase from the $1.00 million loss reported in the prior year's quarter. This was primarily due to a non-cash asset impairment loss of approximately $3.92 million. Commission income saw a modest increase of 4% year-over-year, reaching $4.08 million. Total operating expenses surged by 84% to $9.11 million, driven by the asset impairment and increased general and administrative expenses, which rose by 64% due to higher acquisition-related and regulatory compliance costs. The company's cash position decreased to $2.11 million from...Show More
Reliance Global Group, Inc. (Reliance) reported its financial performance for the quarter ended March 31, 2024, with a net loss of $5.35 million compared to a net loss of $1.79 million for the same period in the previous year. The loss from operations was $5.03 million, a significant increase from the $1.00 million loss reported in the prior year's quarter. This was primarily due to a non-cash asset impairment loss of approximately $3.92 million. Commission income saw a modest increase of 4% year-over-year, reaching $4.08 million. Total operating expenses surged by 84% to $9.11 million, driven by the asset impairment and increased general and administrative expenses, which rose by 64% due to higher acquisition-related and regulatory compliance costs. The company's cash position decreased to $2.11 million from $2.74 million at the end of the previous year. Reliance's business development included the signing of a definitive agreement to acquire Spetner Associates, a benefits enrollment company, for a combination of cash, stock, and a promissory note. The acquisition is expected to expand Reliance's footprint in the insurance market. The company's future plans involve focusing on asset acquisitions in insurance markets and organic growth of current insurance operations through geographic expansion and market share growth.
信實環球集團公司(信實)公佈了截至2024年3月31日的季度財務業績,淨虧損爲535萬美元,而去年同期的淨虧損爲179萬美元。運營虧損爲503萬美元,較上一季度公佈的100萬美元虧損大幅增加。這主要是由於約392萬美元的非現金資產減值虧損所致。佣金收入同比小幅增長4%,達到408萬美元。受資產減值以及一般和管理費用增加的推動,總運營支出激增了84%,至911萬美元。由於收購相關和監管合規成本的增加,總運營支出增長了64%。該公司的現金狀況從去年年底的274萬美元降至211萬美元。信實的業務發展包括簽署最終協議,以現金、股票和期票的形式收購福利登記公司Spetner Associates。此次收購預計將擴大信實在保險市場的足跡。該公司的未來計劃包括專注於保險市場的資產收購,以及通過地域擴張和市場份額增長來實現當前保險業務的有機增長。
信實環球集團公司(信實)公佈了截至2024年3月31日的季度財務業績,淨虧損爲535萬美元,而去年同期的淨虧損爲179萬美元。運營虧損爲503萬美元,較上一季度公佈的100萬美元虧損大幅增加。這主要是由於約392萬美元的非現金資產減值虧損所致。佣金收入同比小幅增長4%,達到408萬美元。受資產減值以及一般和管理費用增加的推動,總運營支出激增了84%,至911萬美元。由於收購相關和監管合規成本的增加,總運營支出增長了64%。該公司的現金狀況從去年年底的274萬美元降至211萬美元。信實的業務發展包括簽署最終協議,以現金、股票和期票的形式收購福利登記公司Spetner Associates。此次收購預計將擴大信實在保險市場的足跡。該公司的未來計劃包括專注於保險市場的資產收購,以及通過地域擴張和市場份額增長來實現當前保險業務的有機增長。

譯文內容由第三人軟體翻譯。


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