NOVUS ACQSTN DEV CORP - NDEV STOCK NEWS

Novus Acquisition and Development Corp. (OTC Markets: NDEV) announced through its subsidiary WCIG Insurance Services that the failure to pass the SAFE Banking Act does not hinder its business growth. CEO Frank Labrozzi emphasized that as a health insurance provider, Novus operates under state regulations and does not handle cannabis directly. Despite challenges in the cannabis market, Novus sees opportunities in inflation management, market consolidation, and changing consumer preferences. The company's model remains resilient as it integrates cannabis into health plans for users.

Novus Acquisition and Development Corp. (OTC:NDEV) reports strong financial performance in its 3rd quarter of 2022. Key highlights include a 12.27% increase in gross revenue to $77,461 and an 8.45% rise in net revenue to $47,044. The profit margin improved to 39.26% from 38.58% year-over-year. Cash equivalents rose 11.9% to $179,661, while shareholder equity increased 4.65%. The company is enhancing its cannabis distribution model through an online pharmacy partnership, reflecting a positive regulatory environment for cannabis in health plans.

Novus Acquisition and Development Corp. (OTC PINK:NDEV) announced its 2021 Annual Report, highlighting a 9.02% increase in gross revenue to $266,432 and a 13.48% rise in net revenue to $95,508. The company reported no stock dilution and an increase in shareholder equity by 2.51% to $1,506,699. Notable strategic shifts in cannabis health insurance are expected to enhance market presence and shareholder value. The changes in regulatory conditions are seen as beneficial for Novus, especially with an anticipated growth in employer-sponsored health plans.

Novus Acquisition and Development, Corp. (OTC PINK:NDEV) has achieved significant engagement at the recent ICMG conference in Miami, highlighting its innovative health plans that integrate cannabis benefits. The company announced a distribution deal with Leb Insurance Group to enhance its offerings on the Ease platform. Key discussions focused on the evolving regulatory landscape concerning cannabis use in workplaces and rising recreational cannabis taxes, which could prompt more consumers to seek medical cannabis coverage. Despite some consolidation in dispensaries, Novus continues to expand its provider network across multiple states.

Novus Acquisition and Development (OTC Markets: NDEV) reported its second-quarter financial results and announced its entry into Oklahoma's cannabis market. Revenue increased by 8% year-over-year to $64,731, with net income rising 17% to $24,080. The company has signed its first provider in Oklahoma, Light Heart Farms Dispensary, and continues to expand partnerships with various health carriers. As consumer spending in the cannabis sector rises, Novus aims to enhance market share by offering cannabis benefits as a health plan rider.

Novus Acquisition and Development Corp. (NDEV) has partnered with PRAM, a leading pharmacy consulting firm, to roll out cannabis health plans across the U.S. This collaboration aims to integrate cannabis benefits into health insurance as federal legalization approaches. PRAM's experience in drug benefits will enhance Novus's offerings, aligning with growing healthcare trends where more doctors may recommend medical cannabis. The initiative is positioned to reshape prescription drug insurance as cannabis becomes more accepted in workplaces and healthcare.

Novus Acquisition and Development Corp. (OTC PINK:NDEV) reported a 7.5% revenue increase to $63,481 for Q1 2021, compared to Q1 2020. The company's net income rose 5.5% to $21,426. The profit margin was reported at 34% during the quarter. Cash and cash equivalents grew to $160,020. CEO Frank Labrozzi highlighted growing partnerships with major health carriers as a key growth driver for its cannabis health plans. However, potential regulatory changes pose risks to the business.