Initiating New Multi-Revenue Streams For Novus and Its Providers
MIAMI, FL, Feb. 19, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Novus Acquisition and Development, Corp. (OTC Markets: NDEV), through its wholly owned subsidiary WCIG Insurance Services, Inc., a diversified insurance entity in health, annuity and accident, and, the nation’s first carrier/aggregator offering a cannabis health plan, today announced that it will launch an updated telemedicine offering. This new platform is expected to be available in April, bringing another multi revenue stream into the Company.
Telemedicine technology allows healthcare practitioners to consult with patients in real-time via telecommunications technology to evaluate, diagnose and treat patients remotely. Telemedicine is attracting attention globally and is seamlessly suitable for medical cannabis and traditional health insurance benefits.
Now patients can connect with Novus’ online platform with a physician across U.S. and Canada from the convenience of their own digital device. Delivering what many patients require is autonomy, free medical cannabis certifications with connection to our in-network dispensaries that can recommended/procure appropriate med strains.
This amplifies Novus’ business model with a much more tactical advantage in creating multiple revenue streams for Novus and their partnered providers, in areas of:
a) Free telemedicine as an ongoing policy holder
b) Free cannabis card consultation for a purchase of a long and short-term health policy
c) Remote prescribing
d) Allow patients direct access to dispensaries for fulfillment of meds
e) Give our 450 insurance agents /affiliates the sales tool for individual and group sales
f) Access new patients in rural areas
g) Break the barrier of distributing medical cannabis information practitioners and patients
Novus Chief Executive Officer Frank Labrozzi commented, “Telemedicine will continue to move healthcare delivery from the hospital or clinic into home care and self-care. We’ve only touched on a few of the benefits that can be realized from the use of telemedicine in a health insurance environment. As the cannabis industry continues to grow and change, Novus will be the vanguard in providing an innovative ecosystem in cannabis healthcare.”
Novus Investment Highlights as of September 30, 2018:
- 9 consecutive quarters of revenue growth
- Demonstrated 58.5% gross profit margin
- No dilution as total shares outstanding remained unchanged at 98,233,624
- No Convertible Notes
- No share issuances in the third quarter of 2018
- 98,233,624 common shares issued and outstanding
- No sales of insider shares since the third quarter of 2015
- All third-party shares issued to vendors are subject to leak out provisions.
Review the entire filing here: https://www.otcmarkets.com/stock/NDEV/filings
About Novus
Novus Acquisition & Development Corp. (NDEV), through its subsidiary WCIG Insurance, 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, property & casualty, life, accident and fixed annuities.
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. Once a push notification is completed the transaction is solely between the state-licensed dispensary and the registered patient.
The state laws are in 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. 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 to Novus Medical Group. 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 reflects management's current expectations. These forward-looking statements are subject to several 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. The telemedicine platform compliance and business model may change without notice and any procurement of meds will be void in areas where it’s prohibited.