Business
Novus Releases Positive Earnings For 3rd Quarter 2022
Novus Releases Positive Earnings For 3rd Quarter 2022.
About this update from Novus Acquisition & Development Corp.
[{"type":"text","content":"Regulation Reform Places Employer-Sponsored Health Plans as a Great Cannabis Distribution Model to ConsumersMIAMI, FL / ACCESSWIRE / November 15, 2022 / Novus Acquisition and Development, Corp. (OTC Markets:NDEV), through its wholly-owned subsidiary WCIG Insurance Services, Inc. Operates as a national supplemental health insurance carrier and, the nation's first health carrier offering cannabis that is included in health plans for recreational and medicinal users. Announces the release of its 3rd quarter interim statement.In Novus' 3Q, 2022 statement demonstrates positive earnings, the integration of an online pharmacy managed by Plitio to provide our cannabis policyholders with online ordering of prescription meds, and the latest state referendums that continue to support cannabis in employee benefit packages.Financial Highlights:For the 3rd quarter of Novus' Fiscal Year of 2022, the points below show the financial condition of the Company's business model. No Dilution: No common stock was issued in the last six consecutive quarters. All third-party vendors who received stock issued from treasury are subject to a mandatory leak out of securities which is 15% of the average daily trading volume, computed over the last 30 trading days.Three-Month Gross Revenue Increase: Gross Revenue increased $9,506 or 12.27% to $77,461 for the three months ended September 30, 2022, as compared to $67,955 for the three months ended September 30, 2021.Three Month Net Revenue Increase: Net Revenue, increased from $43,067 to $47,044 an increase of 8.45% or $3,977 on September 30, 2022, as compared to the three months ended September 30, 2021.Profit Margin: On September 30, 2022, the company demonstrated a 39.26% profit margin pricing structure in its business model up from 38.58% three months ended September 30, 2021Shareholder Equity Increase: An increase of $72,361 or 4.65% which is $1,554,250 on September 30, 2022, from $1,481,889 on September 30, 2021.Cash and Cash Equivalents: Increased to $179,661 on September 30, 2022, or 11.9%, an increase from $158,195 for the same period ended September 30, 2021.Online Pharmacy Adaptation:It's been six years of building an infrastructure of a Provider Network of cannabis verticals that integrates cannabis in our health plans, and we find ourselves on the precibus of re-scheduling cannabis under federal la...