Business
CORRECTION: Novus Revenues and Balance Sheet Show Increases
CORRECTION: Novus Revenues and Balance Sheet Show Increases.
About this update from Novus Acquisition & Development Corp.
[{"type":"text","content":" Normal 0 false false false EN-US JA X-NONE /* Style Definitions */table.MsoNormalTable\t{mso-style-name:\"Table Normal\";\tmso-tstyle-rowband-size:0;\tmso-tstyle-colband-size:0;\tmso-style-noshow:yes;\tmso-style-priority:99;\tmso-style-parent:\"\";\tmso-padding-alt:0in 5.4pt 0in 5.4pt;\tmso-para-margin:0in;\tmso-para-margin-bottom:.0001pt;\tmso-pagination:widow-orphan;\tfont-size:12.0pt;\tfont-family:Cambria;\tmso-ascii-font-family:Cambria;\tmso-ascii-theme-font:minor-latin;\tmso-hansi-font-family:Cambria;\tmso-hansi-theme-font:minor-latin;}MIAMI, FL -- (OTC Markets) – November 15, 2016 – Novus Acquisition and Development, Corp. (OTC Markets: NDEV), the nation’s first healthcare insurance carrier in the medical cannabis field and property and casualty sector, today releases their quarterly reports. In the filing Novus covers the milestones that has fortified their infrastructure.Milestones This 3rd QuarterAs of 2016 the company has achieved the following milestones:a) Financial Overview: Revenue increased by 35% this quarter over the last quarter, Balance Sheet has increased the Net Asset Value from $1,052,594 to $1,252,585 a 25% increase, this was done due to the forgiveness of debt ($100,000) by the CEO. The company is starting to see that banks are more willing to take deposits on companies that do not handle the cannabis plant as opposed to 2015 and 2016. And Cash Flow increased 100% simply due to implementing in-house marketing program.b) Retirement of Debt: $100,000: The CEO Gary F. Labrozzi gave a forgiveness of debt to the company with no equity in exchange. The only equity Mr. Labrozzi has is given to him is via an employment contract that remunerates him 2,000,000 shares per year for his services to the company.c)\tCoverage: Completion of covering the entire state of California and Arizona, equating to 57% of the entire cannabis market. d)\tWorker Compensation Package: We have begun a Worker’s Comp package in California to allow us to give cannabis related products to injured workers, allowing Novus to capture a portion of recreational users.e)\tOvercoming Marketing and Advertising Impediments: Each state has their own rules and regulations on marketing and advertising relating to cannabis related meds and products. To make matters more difficult medians such r...