Novus Acquisition & Development Corp (NDEV) Announces 2023 Results in Annual Report

About this update from Novus Acquisition & Development Corp.

Novus Acquisition & Development Corp (OTC Markets: ( NDEV ) is a leading national supplemental health insurance carrier and pioneer in offering cannabis in health plans for recreational and medicinal users. Today, it released its 2023 Annual Report, highlighting financial growth and a strategic partnership to expand its reach. Despite cannabis industry challenges, Novus achieved sustainable growth: Midwest Expansion: Partnered with prominent cannabis vertical  Heya Wellness to offer MedPlans to 4.3 million potential policyholders in the Midwest, leveraging Missouri's reciprocity laws. Financial Strength: No dilution through common stock issuance since June 15, 2021. No insider share sales for over 2.5 years. Increased gross revenue by 10.58% compared to 2022 and 22.08% compared to 2021, reaching $341,930. Increased 2023 net revenue (EBITDA) by 20.3% compared to 2022 and 35.2% compared to 2021. A steady rise in gross profit margins: 35.8% (2021), 38.4% (2022), and 43.14% (2023) . Increased shareholder equity by 2.8% compared to year-end 2022. Increased cash and cash equivalents by 7.2% compared to 2022. Maintained a financial position with no convertible notes issued. Looking Ahead:  Novus is optimistic about the future. In conclusion, Novus Cannabis MedPlan is well-positioned for sustainable growth. With regulations on the brink of change, the company is ready to capitalize on opportunities that emerge with approval for banking and rescheduling cannabis. Moreover, expanding partnerships with major carriers who are eager to collaborate with Novus underscore the industry's recognition of the company's potential and commitment to innovation. As we move forward, Novus remains dedicated to providing comprehensive healthcare solutions and driving positive transformation in the cannabis space. About Heya Wellness: Heya Wellness is a vertically integrated cannabis company with a profound presence in Missouri. The company encompasses cultivation facilities, processing facilities, and dispensaries, fostering a vertically integrated approach to ensure the highest quality medical cannabis products. Heya remains steadfast in its mission to provide patients with exceptional access to medical cannabis. About Novus Further Research: Financial Filings:  Click Here Quote: Click Here Website : Click Here Investor's Page : Click Here  Novus Acquisition & Development Corp. (NDEV) operates through its subsidiary, WCIG Insurance Services, Inc., offering health insurance and related insurance solutions in states with legal medical marijuana programs. With a robust infrastructure covering various insurance lines, including health, life, and fixed annuities, Novus is a leading health insurance carrier, using two key indicators to gauge value and performance. The Benefit Monetization Ratio measures the annual total of monetized policies, offset by the operating cost ratio, a Balance Sheet line item derived from Net Asset Value and calculated to the Price Book Value. Novus' medical cannabis benefits package operates as an outside developer. It does not engage in any activities related to the cultivation, handling, transportation, growth, extraction, dispensing, sale, marketing, vending, delivery, supply, circulation, or trade of cannabis or any substances violating United States law or the Controlled Substances Act. The company adheres strictly to state and federal laws and has no intentions to violate them in the future. It is important to note that statements regarding specific products have not been evaluated by the United States Food and Drug Administration (FDA) and should not be interpreted as intended to diagnose, treat, cure, or prevent disease. The information provided in press releases and product labels is for informational purposes only and should not be considered a substitute for advice from qualified healthcare professionals. Novus respects the individual transactions involving cannabis, which are solely between state-licensed dispensaries and registered patients. However, it's worth noting that state laws may conflict with the federal Controlled Substances Act. The current administration has indicated that federal law enforcement agencies will not prioritize prosecuting those complying with state-designated laws concerning medical marijuana usage and distribution. Nevertheless, changes in government policies and consolidation could impact the provider network, and there is no assurance that future administrations will not alter this stance. While Novus does not engage in the harvest, distribution, or sale of cannabis or cannabis-related products, the company could be affected if there were any shifts in enforcement by federal or state governments concerning existing laws. Such changes could result in significant financial implications for Novus and other industry players. Forward-Looking Statements This release includes forward-looking statements, which are based on certain assumptions and reflect management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. Dilution, if any, would be for the purposes of management taking stock in lieu of cash salary. Novus disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, this press release that is not statements of historical fact may be considered to be forward-looking statements. Written words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future.     Investor Contact Information Investor Website 855-228-7355 Email: [email protected]

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