Business
Novus Reports 62% Revenue Growth in Third Quarter 2017
Novus Reports 62% Revenue Growth in Third Quarter 2017.
About this update from Novus Acquisition & Development Corp.
[{"type":"text","content":"Revenue Increased for 5th Consecutive Quarter; Executed Several Strategic Marketing PartnershipsMIAMI, FL / ACCESSWIRE / October 30, 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 September 30, 2017. Third Quarter Highlights Key Milestones Achieved in Q3 2017: Revenues increased 62%, from year-ago period Revenue increased for 5th consecutive quarter Added Providers for wider access for procuring patient members Increased awareness through strategic direct marketing relationships Attained a Canadian federal charter for expansion into Canada Cash on hand has increased to $97,476 from $83,276 at the end of the second quarter NAV increased 4% to $1,450,308Novus' Chief Executive Officer, Frank Labrozzi, commented, \"We are very pleased with our business execution and revenue growth to-date and we are focused for the remainder of 2017 and into 2018 to execute on strategic partnerships and acquisitions to help grow our business. We have witnessed most of the publicly-traded cannabis stocks have a positive effect earlier this year and the market has softened quite a bit across the board as of this quarter.\"Here is a poignant article on the state of publicly traded cannabis stocks:https://seekingalpha.com/article/4116760-227-marijuana-stocks-even-1-stock-trading-2017-year-date-high?source=email_authors_alerts&ifp=0&app=1 Novus through its wholly owned subsidiary WCIG Insurance Service, Inc. (WCIG), is a California insurance entity. Novus' health insurance business model within the medical cannabis (THC based meds) can render risk and non-risk insurance models in Washington, Oregon, Hawaii, Michigan, Arizona, Colorado, California, Washington, New York, Massachusetts, Florida, and Vermont. Novus sells benefits packages nationwide in medical marijuana CBD concentrate, dental, vision, diabetic supplies, prescriptions, and hearing.Novus continues to successfully add to its Provider Network with more legal medical cannabis dispensaries for medical marijuana (MMJ) in California, Nevada, and Michigan. This expansion cove...