Ezra Beyman, CEO of Reliance, remarked, "We are pleased to report our withdrawal of the previously filed registration statement, covering the potential shares issuable under the Series G warrants. As a result of the investor converting all of their warrant holdings, we have successfully eliminated the perceived warrant overhang and vastly simplified our capital structure. We remain committed to unlocking value for our shareholders and are more encouraged than ever by the outlook for the business, including our planned acquisition of Spetner Associates, which is expected to increase and drive very significant revenues and cash flows."