Reliance Global Group, Inc.

Greetings. Welcome to the Reliance Global Second Quarter 2023 Financial Results and Business Update Conference Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to your host, Ted Avis, Investor Relations. You may begin.

Thank you, Holly. Good afternoon, and thank you for joining Reliance Global Group's 2023 Second Quarter Financial Results and Business Update Conference Call. On the call with us today are Ezra Bayman, Chairman and Chief Executive Officer of Reliance Global Group, Joel Markovits, Chief Financial Officer of Reliance, Grant Barra, Senior Vice President of Operations at Reliance, and Moish Fishman, Director of InsureTech Operations at Reliance. Earlier today, the company announced its operating results for the three months ended June 30th, 2023. The press release is posted on the company's website, www.relianceglobalgroup.com. In addition, the company has filed its quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission today, which can also be accessed on the company's website, as well as the SEC's website, at www.sec.gov. If you have any questions after the call or would like any additional information about the company, please contact Crescendo Communications at 212-671-1020. Before Mr. Bayman reviews the company's operating results for the quarter end of June 30, 2023, we would like to remind everyone that this conference call may contain forward-looking statements. All statements other than statements of historical facts contained in this conference call, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations are forward-looking statements. The words anticipate, estimate, expect, project, plan, seek, intend, believe, may, might, will, should, could, likely, continue, design, and the negative of such terms, in other words and terms in similar expressions, are intended to identify forward-looking statements. These forward-looking statements are based largely on the company's current expectations and projections about future events and trends that it believes may affect its financial condition, the results of operations, strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to several risks, uncertainties, and assumptions, as described in the company's Form 10-K filed with the U.S. Securities and Exchange Commission on March 30, 2023. Because of these risks, uncertainties, and assumptions, the forward-looking event and circumstances discussed in this conference call may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, It cannot guarantee future results and level of activity, performance, or achievement. In addition, neither the company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The company disclaims any duty to update any of these forward-looking statements. All forward-looking statements attributable to the company are expressly qualified in their entirety by these cautionary statements, as well as others made in this conference. We should evaluate all forward-looking statements made by the company in the context of these risks and uncertainties. Having said that, I'd now like to turn the call over to Ezra Baiman, Chairman and Chief Executive Officer of Reliant Global Group. Ezra?

Thank you, Ted. Good afternoon, and thanks for everyone for joining us today. We are pleased to report that our revenue grew 12% compared to the same period of 2022, which primarily reflects the organic growth of the business. It's important to note that we acquired Barron Associates in April of 2022, so we had two full months of revenue for the second quarter of last year, and all of our other acquisitions were reflected in our revenues in both periods. Since the acquisition of Barron and its rebranding as Rely Exchange, we have experienced steady growth of the agency network. And despite significant investment in Rely Exchange, we reduced our loss from operations by 30% in the first six months of 2023, over the same period in 2022. We view ReliExchange as core to the company's long-term strategic growth plan and are extremely pleased with our progress to date. ReliExchange continues to expand, currently supporting over 310 agency partners, representing a more than 100% increase since the beginning of the year. This achievement stems from the unique value proposition that ReliExchange offers independent insurance agents. By leveraging the most recent technologies and AI capabilities, the platform provides independent agents with a comprehensive toolbox for their businesses, allowing them to not only compete against larger national agencies, but also surpass them in their services and offerings. I would like now to turn the call over to Grant Barra, Senior Vice President of Operations, to provide an overview of how we at Reliance Global view the market opportunities and growth drivers in our industry. Grant?