NEW MJ NEWS

Novus Releases Positive Earnings Report

Novus Acquisition and Development, Corp. (OTC Pink: NDEV), through its wholly-owned subsidiary WCIG Insurance Services, Inc., is a hybrid health insurance carrier and, the nation’s first health carrier offering cannabis that is included in health plans for recreational and medicinal users, announced today its Second Quarter Interim Report and adoption of Embedded Insurance marketing programs.

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Financial Highlights:

For the 2nd Quarter of Novus’ Fiscal Year of 2022, the points below show financial condition of the Company’s business model.

No Dilution: No common stock was issued in the last five consecutive quarters. All third-party vendors receiving stock from treasury are subject to a mandatory leak out of securities which are 15% of the average daily trading volume, computed over the last 30 trading days.

Three Month Gross Revenue Increase: Gross Revenue increased $10,255 or 13.67% to $74,986 for the three months ended June 30, 2022, as compared to $64,731 for the three months ended June 30, 2021.

Three Month Net Revenue Increase: Net Revenue, increased from $24,080 to $28,930 an increase of 16.76 % or $4,850 on June 30, 2022, as compared to the three months ended June 30, 2021.

Profit Margin: On June 30, 2022, the company demonstrated a 38.58% profit margin pricing structure in its business model an increase of 1.38% as compared to June 30, 2021.

Shareholder Equity Increase: An increase of $56,448 or 3.66% which is $1,538,197 on June 30, 2022, from $1,481,749 June 30, 2021.

Cash and Cash Equivalents Increase: Moderate increase to $174,716 on June 30, 2022, or 6.6%, from $163,172 for the same period ended June 30, 2021.

Future Regulatory and Marketing Changes:

The following landscape changes, if adopted, could benefit further our business model:

Western Drought Can Cause Higher Pricing: If drought conditions continue or worsen in the western states, consumers will see rising prices just as they saw at the gas pump. Cannabis plants are not recognized as agriculture by the state of California; therefore cannabis is not included in any subsidized water restriction exemptions, however there may be temporary disaster relief through Dept of Cannabis Control. Distressing the future supply chain significantly less and affecting the U.S. Cannabis Spot Index.

Anti-Vertical Integration: State governments are looking towards proposing licensing restrictions so businesses can’t vertically integrate to cultivate, transport, and sell their proprietary products.

Emergence of Third-Party Online Ordering: As smaller operations look toward online retail with digital platforms it offers an advantage to be more reactive to industry trends and maintain an inventory that consists of popular and varietal product segments.

Scaling to New Markets with Embedded Insurance:
In the past 10 years, the number of cannabis users grew by almost 20 million, making an estimated 12% of Americans consume cannabis, and each consumer has their personality traits. Prompting management to adopt to its marketing and sales arsenal, Embedded Insurance.

This is a form of digital bundling, enabling retailers from nearly any industry to offer insurance policies as an add-on or feature as part of online or in-store checkout. This is a self-sustaining Insurance Ecosystem Solution through a business-to-business-to-consumer insurance partnerships between Novus and retailers. For example, an airline might present travel insurance just as a consumer is booking plane tickets.

A study by Accenture found that customers are increasingly willing to consider insurance purchases while shopping for other needs. The study concluded that 60% of consumers want to buy more from brands they trust and love the convenience of embedded experiences.

Retail brands that tap into the market by offering embedded insurance gain a huge opportunity to build significant new recurring revenue streams and deepen their relationships with their existing customers. Aligning with the right partners, Embedded Insurance can quickly realize revenue from an insurance offering, and innovative ways to distribute our benefit packages.

Novus Research Notes:

As a carrier, the insurance industry relies on two key indicators to measure value and performance. The Benefit Monetization Ratio is defined as a total number of policies, monetized annually as an Asset, then, is offset by the operating cost ratio then computed to the Balance Sheet as Net Asset Value. See how insurance companies are valued: Click Here

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About Novus

Novus Acquisition & Development Corp. (NDEV), through its subsidiary WCIG Insurance, Services, Inc. provides health insurance and related insurance solutions within the wellness and medical marijuana industries in states where legal programs exist. Novus has developed its infrastructure within many lines of the insurance business such as health, life, and fixed annuities. As a carrier Novus relies on two key indicators to measure value and performance. The Benefit Monetization Ratio is defined as a total number of policies, monetized annually, which is offset by the operating cost ratio which is a Balance Sheet line item computed as Net Asset Value.

Novus’ medical cannabis benefits package will work as outside developers and will not cultivate, handle, transport grow, extract, dispense, put up for sale, put on the market, vend, deliver, supply, circulate, or trade cannabis or any substances that violate the United States law or the Controlled Substances Act, nor does it intend to do so in the future and will continue to follow state and federal laws. The statements made about specific products have not been evaluated by the United States Food and Drug Administration (FDA) and are not intended to diagnose, treat, cure, or prevent disease. All information provided on these press releases, or any information contained on or in any product label or packaging is for informational purposes only and is not intended as a substitute for advice from your physician or other health care professional. All cannabis transaction is solely between the state-licensed dispensary and the registered patient.

The state laws conflict with the federal Controlled Substances Act. The current administration has effectively stated that it is not an efficient use of resources to direct federal law enforcement agencies to prosecute those lawfully abiding by state-designated laws, allowing the use and distribution of medical marijuana. Changes in consolidation may affect the provider network. However, there is no guarantee that the current administration, nor any future administration, will not change this policy and decide to enforce the federal laws strongly. Any such change in the federal government’s enforcement of current federal laws could cause significant financial changes. While we do not intend to harvest, distribute, or sell cannabis or cannabis-related products, we may be harmed by a change in enforcement by federal or state governments.

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. 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
855-228-7355
Email: info@getnovusnow.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133802


MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
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