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Reliability Inc (OTC-ID:RLBY) announced that 253,292,210 shares of its common stock were transferred back to the company as part of a legal settlement with Vivos Holdings, LLC and affiliated parties. The company disclosed in a statement Friday that the transfer was completed and made effective April 2, following a consent judgment entered by the Circuit Court for Montgomery County, Maryland.
The settlement agreement, originally executed on February 16, resolved outstanding disputes and arbitration matters between Reliability Inc and the Vivos parties. As part of the agreement, the Vivos parties agreed to transfer shares of Reliability Inc’s common stock to the company.
Equiniti Shareholder Services, LLC, the company’s transfer agent, confirmed on April 7 that the share transfers had been completed and made effective April 2. After the transfer, the shares were returned to Reliability Inc and are no longer outstanding. The company’s authorized number of shares of common stock was not affected, and the returned shares are now classified as authorized but unissued, rather than treasury shares.
As of April 2, 2026, Reliability Inc reported 46,707,790 shares of common stock outstanding. The company noted that the reduction in outstanding shares will materially affect the relative ownership percentages of existing stockholders.
Additionally, Reliability Inc stated that it has amended and restated its bylaws as of Friday, with the only change being the removal of an old principal office address in Section 1.1. The company also intends to call a meeting of shareholders later in the year.
This information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.
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