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Novus Releases 2Q Results, Underscores Independent Organic Growth In Cannabis

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Novus Acquisition & Development Corp (OTC Pink: NDEV), a leading national supplemental health insurance carrier offering cannabis in health plans, released its Q2 2024 results. Key highlights include:

- 7.32% increase in Gross Revenue compared to June 30, 2023
- 20.4% increase in EBITDA compared to June 30, 2023
- Improved profit margins from 40.4% to 45.4%
- 4% increase in Cash and Cash Equivalents since December 31, 2023
- No dilution of common stock since June 2021
- No insider selling for nearly 3 years

Novus plans to launch its direct-to-consumer cannabis RX platform on September 1, 2024, preparing for potential federal rescheduling. The platform will benefit policyholders, cannabis verticals, and healthcare providers, offering pre-negotiated discounts and potential reimbursements for users.

Novus Acquisition & Development Corp (OTC Pink: NDEV), un importante operatore nazionale di assicurazioni sanitarie supplementari che offre cannabis nei piani sanitarî, ha pubblicato i risultati del secondo trimestre 2024. I punti salienti includono:

- Aumento del 7,32% nei Ricavi Lordi rispetto al 30 giugno 2023
- Aumento del 20,4% nell'EBITDA rispetto al 30 giugno 2023
- Margini di profitto migliorati dal 40,4% al 45,4%
- Aumento del 4% in Liquidità e Equivalentibus di Liquidità dal 31 dicembre 2023
- Nessuna diluizione delle azioni ordinarie dal giugno 2021
- Nessuna vendita da parte degli insider da quasi 3 anni

Novus prevede di lanciare la sua piattaforma RX per cannabis diretta ai consumatori il 1° settembre 2024, in preparazione a un potenziale riposizionamento a livello federale. La piattaforma beneficerà gli assicurati, i settori della cannabis e i fornitori di assistenza sanitaria, offrendo sconti pre-negoziati e potenziali rimborsi per gli utenti.

Novus Acquisition & Development Corp (OTC Pink: NDEV), un destacado proveedor nacional de seguros suplementarios de salud que ofrece cannabis en sus planes de salud, ha publicado los resultados del segundo trimestre de 2024. Los puntos clave incluyen:

- Aumento del 7.32% en los Ingresos Brutos en comparación con el 30 de junio de 2023
- Aumento del 20.4% en EBITDA en comparación con el 30 de junio de 2023
- Mejora de los márgenes de ganancia del 40.4% al 45.4%
- Aumento del 4% en Efectivo y Equivalentes de Efectivo desde el 31 de diciembre de 2023
- Sin dilución de acciones comunes desde junio de 2021
- Sin ventas de insiders durante casi 3 años

Novus planea lanzar su plataforma RX de cannabis directa al consumidor el 1 de septiembre de 2024, preparándose para un posible cambio de clasificación a nivel federal. La plataforma beneficiará a los asegurados, los sectores de cannabis y los proveedores de atención médica, ofreciendo descuentos pre-negociados y posibles reembolsos para los usuarios.

Novus Acquisition & Development Corp (OTC Pink: NDEV), 대마초를 건강 보험 계획에 제공하는 주요 국가 보충 건강 보험 회사가 2024년 2분기 실적을 발표했습니다. 주요 사항은 다음과 같습니다:

- 2023년 6월 30일 대비 총 수익 7.32% 증가
- 2023년 6월 30일 대비 EBITDA 20.4% 증가
- 수익 마진 40.4%에서 45.4%로 개선
- 2023년 12월 31일 이후 현금 및 현금 등가물 4% 증가
- 2021년 6월 이후 보통주 희석 없음
- 거의 3년 가까이 내부자 매각 없음

Novus는 2024년 9월 1일에 소비자 직접 판매 대마초 RX 플랫폼을 출시할 계획이며, 이는 잠재적인 연방 재조정을 준비하는 것입니다. 이 플랫폼은 보험 가입자, 대마초 업종 및 의료 제공자에게 혜택을 제공하며, 사전 협상된 할인 및 사용자에 대한 잠재적 환급을 제공합니다.

Novus Acquisition & Development Corp (OTC Pink: NDEV), un important assureur national d'assurance maladie complémentaire proposant du cannabis dans ses plans de santé, a publié ses résultats du deuxième trimestre 2024. Les faits marquants incluent :

- Augmentation de 7,32% des Revenus Bruts par rapport au 30 juin 2023
- Augmentation de 20,4% de l'EBITDA par rapport au 30 juin 2023
- Amélioration des marges bénéficiaires de 40,4% à 45,4%
- Augmentation de 4% de la Trésorerie et des Équivalents de Trésorerie depuis le 31 décembre 2023
- Pas de dilution des actions ordinaires depuis juin 2021
- Pas de vente d'insiders depuis près de 3 ans

Novus prévoit de lancer sa plateforme RX de cannabis directe aux consommateurs le 1er septembre 2024, afin de se préparer à un éventuel reclassage fédéral. La plateforme bénéficiera aux assurés, aux secteurs du cannabis et aux fournisseurs de soins de santé, en offrant des remises pré-négociées et des remboursements potentiels pour les utilisateurs.

Novus Acquisition & Development Corp (OTC Pink: NDEV), ein führender nationaler Anbieter von Zusatzkrankenversicherungen, der Cannabis in Gesundheitspläne integriert, hat seine Ergebnisse für das 2. Quartal 2024 veröffentlicht. Zu den wichtigsten Punkten gehören:

- 7,32% Anstieg des Bruttoeinkommens im Vergleich zum 30. Juni 2023
- 20,4% Anstieg des EBITDA im Vergleich zum 30. Juni 2023
- Verbesserte Gewinnmargen von 40,4% auf 45,4%
- 4% Anstieg von Bargeld und Bargleichwerten seit dem 31. Dezember 2023
- Keine Verwässerung des Stammkapitals seit Juni 2021
- Seit fast 3 Jahren kein Insiderverkauf

Novus plant, seine direkt an Verbraucher gerichtete Cannabis RX-Plattform am 1. September 2024 zu starten, um sich auf eine potenzielle bundesstaatliche Neuregelung vorzubereiten. Die Plattform wird den Policeninhabern, Cannabis-Branchen und Gesundheitsdienstleistern zugutekommen, indem sie vorverhandelte Rabatte und potenzielle Rückerstattungen für Nutzer anbietet.

Positive
  • Gross Revenue increased by 7.32% compared to June 30, 2023
  • EBITDA increased by 20.4% compared to June 30, 2023
  • Profit margins improved from 40.4% to 45.4% year-over-year
  • 4% increase in Cash and Cash Equivalents since December 31, 2023
  • No dilution of common stock since June 2021
  • No insider selling for nearly 3 years
  • Planned launch of direct-to-consumer cannabis RX platform on September 1, 2024
Negative
  • None.

Miami, Florida--(Newsfile Corp. - August 13, 2024) - Novus Acquisition & Development Corp d/b/a Novus Cannabis MedPlan (OTC Pink: NDEV) is a leading national supplemental health insurance carrier and pioneer in offering cannabis in health plans for recreational and medicinal users. It released its update on its Q2 2024 results, Rx Dispensing Platform, and Key Elements that fuel its success after the Drug Enforcement Agency (DEA) announced that cannabis could be rescheduled.

Management's Statement

CEO Frank Labrozzi has stated the following: "Novus' growth trajectory is entirely self-funded and independent of external capital. Our organic strategy has consistently delivered results, demonstrating our ability to thrive even without the potential benefits of industry-wide or regulatory changes. Our unwavering commitment to shareholders is evident in our consistent financial performance. We have maintained a capital structure without diluting common shares since June 2021 and have had zero insider selling for nearly three years."

Financial Highlights

Financial insights into Novus' business model include its revenue streams and financial condition.

  • No Dilution: No common stock has been issued after June 15, 2021.
  • No Sales of Insider Shares: For close to 3 years
  • Gross Revenue Increase: During this reporting period, Gross Revenue increased by 7.32% compared to June 30, 2024, and 2023, respectively.
  • Net Revenue Increase: During this reporting period, EBITDA increased by 20.4% compared to June 30, 2024, and 2023.
  • Profit Margin: During the reporting period, the company experienced an increase in gross profit margins (EBITDA), with margins of 40.4% on June 30, 2023, and 45.4% on June 30, 2024.
  • Cash and Cash Equivalents: There was a 4% increase compared to the financial reporting periods ending June 30, 2024, and December 31, 2023.
  • No Convertible Notes: No convertible notes issued or outstanding
  • Debt Transparency: Frank Labrozzi, the CEO, is owed $158,061. He has no plans to exercise the call provision, and this debt instrument has no equity conversion provision.
  • Leak Out Vendor Shares: All vendors who have received treasury-issued stock are contractually obligated to sell their shares gradually. The selling amount is determined based on 15% of the average daily trading volume over the past 30 days.

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D2C Platform Release

Federal rescheduling is on the horizon, and Novus is prepared for the newly regulated market. The company plans to launch its direct-to-consumer cannabis RX platform on September 1, 2024. This platform is designed to benefit policyholders, cannabis verticals, and healthcare providers alike. The platform will provide:

Platform Access Available To Cannabis Verticals: Cannabis brands can reach policyholders and consumers through Novus without setup or listing fees. Our platform enables direct sales between brands and the beneficiary. In return, brands provide pre-negotiated discounts for our policyholders and, if eligible, qualify them for reimbursement. This enhances affordability, strengthens brand loyalty, and creates a new revenue stream for brands, ensuring sustainable income for Novus.

Facilitate Audience Expansion: The platform aims to assist registered medical users and attract unregistered users from the illicit market, as medical consumers tend to buy cannabis more frequently than unregistered consumers.

Recreational Users: Leveraging our unique position, we can now cater to all cannabis users, including recreational users. We offer affordable wellness programs with customized insurance benefits for recreational users, presenting a compelling value proposition for this market segment.

Future Integrating Of Pharma (Rx) Meds: Novus' platform will bridge the gap between conventional medicine and cannabis medicine, providing policyholders with a one-stop shop and a more holistic, comprehensive healthcare approach.

Closing: Anticipating an impending market shift resulting from federal rescheduling, Novus presents unique diversification opportunities beyond traditional cannabis cultivation and retail stocks. Through the integration of cannabis into healthcare plans and the use of a direct-to-consumer (D2C) platform, we are establishing a scalable infrastructure and adopting a flexible approach that allows us to take advantage of emerging market opportunities as regulations and research evolve.

Media Contact

Investor Relations

855.228.7355

Email:investor@getnovusnow.com

About Novus

Further Research:

Novus (NDEV) operates through its wholly-owned subsidiary, WCIG Insurance Services, Inc. The company provides health plans as a health insurance carrier in states with legal medical marijuana programs. Novus' business model is based on receiving insurance premiums and does not involve the cultivation, distribution, or sale of cannabis or cannabis-related products.

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: info@getnovusnow.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219708

FAQ

What was Novus' (NDEV) revenue growth in Q2 2024?

Novus (NDEV) reported a 7.32% increase in Gross Revenue for Q2 2024 compared to the same period in 2023.

How did Novus' (NDEV) profit margins change in Q2 2024?

Novus (NDEV) improved its profit margins from 40.4% on June 30, 2023, to 45.4% on June 30, 2024.

When is Novus (NDEV) launching its direct-to-consumer cannabis RX platform?

Novus (NDEV) plans to launch its direct-to-consumer cannabis RX platform on September 1, 2024.

Has Novus (NDEV) issued any new common stock recently?

No, Novus (NDEV) has not issued any new common stock since June 15, 2021, maintaining its commitment to avoid dilution.

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