Business
Novus Continues Positive Business Momentum in First Quarter 2017
Novus Continues Positive Business Momentum in First Quarter 2017.
About this update from Novus Acquisition & Development Corp.
[{"type":"text","content":"\n \n \n Novus Continues Positive Business Momentum in First Quarter 2017\n \n \nNovus Continues Positive Business Momentum in First Quarter 2017\n\nQuarterly Revenues Increased 43% Year-Over-Year; 100% Improvement in Marketing Engagement\n\n \n MIAMI, FL--(Marketwired - May 16, 2017) - Novus Acquisition and Development, Corp. (OTC PINK: NDEV), through its wholly owned subsidiary WCIG Insurance Services, Inc., is a diversified insurance entity in health, liability, annuity and accident, and, the nation's first carrier/aggregator offering a cannabis health plan, today reported financial and operational results for the three month period ended March 31, 2017.\n Key Milestones Achieved in Q1 2017:\n \n \n Revenues increased 43%, from year ago period\n \nRevenue increased for third consecutive sequential quarter\n \nNet Asset Value increased 1%\n \nMarketing engagement increased 100%\n \n \n Novus continues to execute its plan as an early mover as an insurance entity in the legal medical cannabis industry with its unique business model and strategic partnerships with a focus on growing its number of covered lives. Securing additional strategic relationships in the cannabis sector with better-known cannabis companies is a key part of the focus to gain visibility and awareness and grow the business for the remainder of 2017 and beyond. \n Financial Results for the Quarter Ended March 31, 2017:\n Quarterly Revenue increased by 43% to $27,224 for the three months ended March 31, 2017, as compared to the first quarter of 2016. This increase was primarily due to increased awareness and visibility of the Novus MedPlan offering and the improvement in key performance indicators (KPI) in the Company's in-house marketing efforts. \n Novus had experience significant increases at a reduced cost for third party marketers. During the first quarter of 2017, the Company deliberately decreased its digital ads from 1,500,000 monthly unique views to 1,000,000 monthly views, which resulted in a significant 100% increase of engagement from a 0.5% rate to 1% rate. The initiative proved that a quality target audience is essential to the branding effort. This change reduced the cost of advertising by 35%, giving Novus MedPlan the ability to preserve cash on hand to allow awareness campaigns to create brand awareness in early-developed markets. \n Operating ...