In addition to doing an excellent job managing cash, NOVC is paying their bills ,or bill collectors like me would be on their #$%$.
FYI....NOVC's "payables" were actually down almost a million dollars from 12/31/2012 to 3/31/2013, while YOY they were down abour 200K from 8.94M to 8.72M. As for "accrued "expenses (not to be confused with paqyables, yes they were up considerably, but when you read the following definition for accrued expenses, you might understannd why;
"Investopedia explains 'Accrued Expense'
Accrued expenses are the opposite of prepaid expenses. Firms will typically incur periodic expenses such as wages, interest and taxes. Even though they are to be paid at some future date, they are indicated on the firm's balance sheet from when the firm can reasonably expect their payment, until the time they are paid.
An example would be accruing interest that is building up on a bank loan."
Regardless if anyone really wants to know what the increase in accrued expenses consisted of, I would suggest that you just ask management....they're very approachable as they should be.
Bottomline...my friend Bilgey is getting old, and even though he may be a respected CPA....he's NOT ALL KNOWING.....not even close.......NOVC IS paying their bills.
Rooky
aka
Richard Morris
Va. Beach, Va.
Sentiment: Strong Buy
Regardless of what anyone says, this is one of the key metrics all analysts follow.
There are so many variables in every financial statement that its easy to pick and choose whatever fits your agenda, but CASH is KING as far as I'm concerned, and NOVC is doing an excellent job of managing it.
I apologize to those who thought I'd be at the AM....I had my plane tickets and all, but about 10 days before my departure, an "opportunity" involving my business, JudgmentScore, took precedence.
Finally, other than the 35% increase in cash, the fact they made almost a penny a share, all things considered,is truly remarkable.
Good Luck and stay tuned...
Rooky
aka
Richard Morris
Va. Beach, Va.
ps. a lot of patience is required to buy and hold this stock, but once the remaining preferred shareholders exit the room ,and the miscreants steal/own their shares (think bash to buy), we'll finally see lift off.
Sentiment: Strong Buy
Anyone that really cares can verify this information online;
Streetlinks Lender Solutions
BBB Accreditation
A BBB Accredited Business since 7/30/2010
BBB has determined that StreetLinks LLC meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.
BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.
Reason for Rating
BBB rating is based on 16 factors.
Factors that raised the rating for StreetLinks LLC include:
Length of time business has been operating.
Complaint volume filed with BBB for business of this size.
Response to 60 complaint(s) filed against business.
Resolution of complaint(s) filed against business.
BBB has sufficient background information on this business.
Sentiment: Strong Buy
Were you aware that your companies stock went up 20 fold from the time it first went public in the late 90's?
One of the reasons for this was because Novastar was considered "Best of Breed" before the real estate and mortgage industry crashed in 2007/2008.
The main point being, if they did it once there is more than a reasonable chance they will do it again.
Do your own due diligence, and I hope you'll see what I mean.
Good Luck!
Rooky
aka
Richard Morris
Va. Beach, Va.
Sentiment: Strong Buy
ALL excellent points kdd, yet within minutes, Novations "Internet Goon Stalker" calls it nothing but lies.
Keep sharing kdd....you are a tremendous asset for anyone long NOVC, and for anyone looking at NOVC as a possible investment.
Rooky
Sentiment: Strong Buy
Finally, and I don't want to belabor this point, but if you've been following this thread you've certainly noticed that there are certain individuals, and one in particular, who stalks and harasses anyone that has anything positive to say about your company. Their constant attacks, their deceptions, and their outright lies tell you about their agenda. Some have actually gone to federal prison for their behavior, but it appears the Feds may have more work to do here.
Keep in mind that most of these miscreants aka white collar criminals operate anonymously, but both the FBI and the SEC are aware of their activities.
Rooky
aka
Richard Morris
Va. Beach, Va.
Sentiment: Strong Buy
The turnaround that has occured at Novation is unprecedented, and you're part of it. Thanks a Billion!
Rooky
Sentiment: Strong Buy
You may not know that your company was once in the mortgage business and is still receiving cash in the form of interest from good mortgages that it made from as far back as 2002 and 2003.
The point I wanted to make here is that your company is still in business today because of the way it did business in the past. They've made mistakes just like we all do, but they're survivors like you and me.
If you've contributed to Novations survival despite the mistakes we've all made along the way, I'd like to thank you for everything you do.
Rooky
aka
Richard Morris
Va. Beach, Va.
Sentiment: Strong Buy
Of course we all know its easy to manipulate NOVC with relatively few shares, but the few BID and ASK trades this AM keep showing up and disappearing form my quote screen.
Seriously, someone needs to go directly to JAIL and NOT PASS GO for participating in this CHARADE.
Maybe it was the half million dollars in bond cash that caused the glitch.
Stay tuned!
Rooky
Sentiment: Strong Buy
Needs no comment;
Deal 2002-3 85,373
Deal 2003-1 141,067
Deal 2003-4 275,339
Total $501,779
Sentiment: Strong Buy
of the kind of behavior behind the 24/7 stalking, harassment, defamation, libel, slander and false allegations and accusations leveled against Novation and many of its supporters and shareholders.
Like I've said, the stalker thats targeted me and Novation and others via the internet for the last five years would be in jail if he were to do this to me, my family, or any of my businesses where I reside in Virginia Beach, Va.
The real sad thing is that others who claim to be shareholders (former shorts and longs) actually condone this kind of behavior.....and their SILENCE speaks VOLUMES.
I can only hope that some of the following rings TRUE, because it involved Novastar in 2004, and it continues TODAY.
November 2, 2004 | From Associated Press
A San Diego financial analyst bribed an FBI agent for inside information about white-collar investigations, then used it to manipulate stock prices for his own gain, a prosecutor alleged Monday. Anthony Elgindy, 36, promoted himself on his website as "a crusader against fraud," prosecutor Valerie Szczepanik said during opening arguments at Elgindy's federal trial in Brooklyn, N.Y. "The exact opposite was true: Elgindy was an opportunistic thief."
Sentiment: Strong Buy
Buying stock at the BID....
Typically shares of most stocks are purchased at the ASK price, and sold at the BID price. However, I've been able to buy many of my shares of NOVC at the BID, or just a penny over the BID.
However, while buying shares at the BID requires some patience on your part, there is a reasonable chance that NOVC could run away from you, and you may never get your shares. Its for this reason that I reccomend to NEW BUYERS to buy at the ASK, but if you're adding to your position, buy at the BID.
Keep up the good work, and all the best to all of you, your peers, and your famalies.
Rooky
aka
Richard Morris
Va. Beach, Va.
Sentiment: Strong Buy
Amr Elgindy and other FRAUDSTERS GO TO JAIL FOR.
Stay tuned, and sleep well....he....he.....he
Rooky
aka
Richard Morris
Va. Beach, Va.
Sentiment: Strong Buy
Now that the financial terorists have already acknowledged their nefrarious activity, I wonder what their next move will be?
The manipulation this AM of 120K shares involved less than 60 thousand dollars play money transferring from one pocket to the other, so don't sweat the small stuff.
Rooky
Sentiment: Strong Buy
For the one who dumped shares at .45 or the buyer of those shares?
Like the buyer of those 120K shares, my portfolio has been up^ today as much as 13.33% from .45, with another thousand percent to go before I'll be departing.
Stay tuned!
Rooky
aka
Richard MOrris
Va. Beach, Va.
Sentiment: Strong Buy
financial terrorists or little 'ol retirees.
Stay tuned...I do have an order to buy more shares at .419 which is 8 cents above my "average " cost.
Rooky
Sentiment: Strong Buy
Fortunately I'll be able to attend the AM this year, and I've already prepared my remarks that will address the GOOD, the BAD and the UGLY ,but not necessarily in that order.
Will an internet terrorist plot be revealed?
Stay tuned.
Rooky
aka
Richard Morris
Va. Beach, Va.
Sentiment: Strong Buy
Sorry, but I've not been able to keep up with the Tweets Novation and its subsidairies have been sending the last few days. Someone however did forward a Tweet to me about the continuation of the HARP (Housing Affordable Refi Program) for another 2 years or until the end of 2015.
Over 2 Million homes have been refinanced through HARP, and I'm sure that Streetlinks will continue to play a part HARP appraisals just as they've done in the past.
Like me, I'm sure you found this to be good news for your company, and keep up the good work.
Rooky
Sentiment: Strong Buy
At the annual meeting?
Would that be you or your client thats been involved in nefrarious activity involving stock fraud?
If you really were to attend, I'd be more than a little concerned that the FEDS would be waiting to CUFF you and your ILK, and haul you away.
Stay tuned!.....he.....he.....he
Rooky
aka
Richard Morris
Va. Beach, Va.
Sentiment: Strong Buy
Thanks wellsbay for that very informative post. Since its been 12 years when I was last in the call center business (120 seats), a lot has changed. Probably the biggest change involves Cloud based technology that makes it easier, and more affordable for businesses around the world to access this new technology.
Corvisa and CorvisaCloud are in the right business, at the right time with the right product and service as far as I'm concerned. Wellsbay, you've accurately and honestly outlined the potential
for CC, now all we need for them to do is....EXECUTE!
Rooky
Sentiment: Strong Buy