Business
Novus Releases Its First Quarter of 2022 Report
Novus Releases Its First Quarter of 2022 Report.
About this update from Novus Acquisition & Development Corp.
[{"type":"text","content":"Miami, Florida--(Newsfile Corp. - May 10, 2022) - Novus Acquisition and Development, Corp. (OTC Pink: NDEV), through its wholly-owned subsidiary WCIG Insurance Services, Inc., is a hybrid health insurance carrier and, the nation's first health carrier offering cannabis that is included in health plans for recreational and medicinal users, announced today its First Quarter Report and accomplishments.Image LogoTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/8812/123244_975456e4948c08ce_001full.jpgAs the Company focuses to build back pre-pandemic growth percentages we continue to identify opportunities with new regulatory elements that are currently favoring our business strategy. We had continued growth in:Financial Highlights No Dilution: No common stock was issued in the last four quarters. All third-party vendors receiving stock from the treasury are subject to a mandatory leak out of securities which are 15% of the average daily trading volume over the last 30 days. Three Month Gross Revenue Increase: Gross Revenue increased $9,244 or 14.56% to $72,725 for the three months ended March 31, 2022, as compared to $63,481 for the three months ended March 31, 2021. Three Month Net Revenue Increase: Net Revenue, increased from $21,426 to $26,999 an increase of 26 % or $5,573 on March 31, 2022, as compared to three months ended March 31, 2021. Profit Margin: On March 31, 2022, the Company demonstrated a 37% profit margin pricing structure in its business model an increase of 3% as compared to March 31, 2021. Shareholder Equity Increase: An increase of $48,439 or 3.27% which is $1,527,225 on March 31, 2022, from $1,478,786 March 31, 2021. Cash and Cash Equivalents Increase: Moderate increase to $169,299 on March 31, 2022, or 5.8%, from $160,020 for the same period ended March 31, 2021. InsurTech Platform InsurTech platforms is a disruptive and innovative technology that sells direct to consumers who have employer-sponsored health plans. These platforms sell health policies on an ala carte basis as opposed to one-size-fits-all health plans. To gain entry on these platforms is costly and time-consuming, so we sought to find a partner who already had a presence on one or more of these platforms, in return, we would share policy sales. After lengthy negotiations with many third-party partners...