Novus Expands MMJ Footprint Additional States And Outlook For
2017
MIAMI, FL January 18, 2017 - InvestorsHub NewsWire - Novus
Acquisition and Development, Corp. (OTC Markets:
NDEV), through its wholly owned subsidiary WCIG Insurance
Services, Inc., is a diversified insurance entity in health,
liability, annuity and accident, and, the nations first
carrier/aggregator offering a cannabis health plan, announced today
that its Novus MedPlan has met the compliance standards to sell its
MedPlan in Massachusetts, New York and Connecticut.
NOVUS
Health |Life | Liability
Currently there are now 29 states that have approved legalized
medical cannabis of which 23 million potential patients qualify for
some sort of legal cannabis nationwide. The states listed below are
the states that can sell the Novus MedPlan:
Management Discussion & Analysis For 2017
As we head into 2017, with a new President, legal cannabis
states that have revised laws, and new states that approved
cannabis, is a milestone for the industry. We continue to expand
the availability of the Novus MedPlan in additional legal cannabis
states. The process is arduous, dealing with each State Department
that regulates insurance laws, cannabis laws, securities laws and
fiduciary requirement laws, making it a tedious and lengthy
process.
Being the first to bring health coverage to the legal cannabis
segment gives Novus a competitive advantage over other insurance
companies. Since legal cannabis is not federally approved, the
trepidation of competing insurance entities getting into cannabis
could result in a loss of their lucrative Medicare and Medicaid
contracts. Novus objective is to be compliant on a state level and
since we never take possession of the plant we dont have any risk
of state line issues, brought by evidence of a our legal opinion
written by the firm Vicente Sederberg the leading cannabis law firm
in the country.
The barrier of entry aside from insurance compliance is engaging
with cannabis cultivators, manufacturers and dispensaries that we
call our Provider Network or Provider(s). These Provider(s) are
typically early stage companies and the due diligence to determine
their criteria of Provider financial validity is cumbersome and
getting them to gain trust in corporate America is burdensome, but
Novus is and has accomplished this undertaking.
As new and existing legal cannabis states struggle with cannabis
rules and regulations, some states struggle with developing
markets, but it has been our determination to continue to file with
states prior to their markets developing. With cash on hand, no
debt or toxic financing and extremely low overhead, Novus intrinsic
value currently comes from our infrastructure expansion in legal
cannabis states and diversified insurance lines.
We have overcome impediments in 2016 by stabilizing depository
relationships with banking entities. Solving complexities of
Internet companies not allowing our digital marketing to be placed
on ad exchanges, resulting of bringing our advertising efforts
in-house, where we have improved efficiencies from six thousand
digital impressions per month to 1.7 million impressions with a
3-5% engagement rate in the month of December 2016 alone.
Our optimization curve on our digital ad placement platform is
still being tweaked and our access to this digital marketing
technology will give us the ability to increase to approximately
5-6 million viewers per month within the next 30-45 days. Our
platform gives us, Big Data access, such as Nielson, whose
technology allows us to target an audience who is looking for
health insurance at the time the consumer is in a buying mode. In
addition we have implemented a Beaconing technology, which allows
us to create a beacon over certain locations (within 5 meters of an
address) targeting the consumers location through their mobile
device. Then once the consumer returns to their location of
business or residence their WIFI will pick up that data and create
a cross device digitization for re-targeting purposes. This
technology can target consumers that visit every dispensary, every
MMJ venue within our geo-demographic region. This is known as
conquest marketing, to reach the consumers based on behavior,
location and the most impressive, targeting consumers that have
visited these locations as far back as 1 year.
Insurance Diversification
Our core business is health in legal cannabis, liability,
annuities and accident insurance lines. It is our contention that
we believe that smart money focuses on diversity and the
competitive advantage of being an insurance company. It is
imperative to let shareholders know that our focus is the cannabis
sector, but understand as our popularity grows, we are being
approached by other entities that grant us opportunities in
diversified insurance lines that cant be ignored.
By way of comparison the next 5 years insurance lines that will
increase by triple digits are the following areas:
- Legal Cannabis: Projected $20 billion
- Freight Trucking: Projected $1.2 trillion
- Full Health Care: Projected $1.7 trillion
And Novus wants a portion of the above mentioned market share
and as a shareholder we want you to gain value with respect to
being diversified.
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 competed 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 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 Medical Group disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Contact Information
Corporate:
Chairman and CEO
Frank Labrozzi
frank@ndev.biz
855-228-7355
Investors:
Hayden IR
hart@haydenir.com
917-658-7878
