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Novation Companies, Inc. (NOVC)

Other OTC - Other OTC Delayed Price. Currency in USD
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0.0499+0.0049 (+10.89%)
As of 9:30AM EDT. Market open.
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  • v
    vinesandivy
    Director Alternative Investment at Barings sub of #MassMutual MM stated that they are committed to restructuring Novation Companies $NOVC to use $730M NOLs/Rights (cleanup call rights CCR per Section 5.04 of Service Rights Transfer Agreement attached to back of Q3 2007) that control the future use of billions of rich, seasoned collateral assets, assets that can be leveraged/resecuritized at NIMs of 500 Bpts into new dividend. Just like these same investors have done many times before, like KKR did $COOP Mr. Cooper aka WAMU $7B NOL. KKR & Fortress own $COOP common. Fortress + MM + EJF Capital own over 50% of all $NOVC common hidden behind CDOs; Fortress behind Taberna CDOs + EJF Capital behind Kodiak CDO I CDOs which they paid almost nothing to hold via CDO Service Rights. $NOVC Chairman of the Board Barry Igdaloff restructured Dynex Capital NYSE $DX thanks to Fortress which owned $DX hidden behind Capstead Mortgage $CMO 2000-03. One 8K & Fortress, EJF Capital, MassMutual, Barings & Igdaloff cabal wipe out all the only Sr Debt to exit Ch 11 held by these CDOs and split $NOVC into 2 tax-free public companies:
    1. MREIT relaunching $NOVC former MREIT Novastar Financial Inc. with CCR
    2. www.healthcare-staffing.com $730M NOLs

    SoftBank Is Cutting More Deals Than Ever https://finance.yahoo.com/news/softbank-cutting-more-deals-fewer-220000186.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr via @Yahoo Softbank subsidiary Fortress sits on next B asset $NOVC split into 2 tax free co
    1.MREIT paying dividend
    2. www.healthcare-staffing.com $730M NOLs
    HealthCare Staffing
    www.healthcare-staffing.com
    Bullish
  • v
    vinesandivy
    5. We know for a fact Dynex Capital NYSE $DX investors Barry Igdaloff, Howard Amster (Todd Emoff, Thomas Akin) and Manny Friedman/Neal Wilson co CEOs of EJF Capital www.ejfcap.com and Wesley Edens, Peter Briger co CEOs of Fortress www.fortress.com wholly owned subsidiary of Softbank $SFTBY Masa Son, CEO and ex Fortress executive Rajeev Misra now CEO of www.visionfund.com (Michael Huang, Quant at Fortress and NRZ) are WORLD CLASS MREIT investors aka experts in NOVC CCR cleanup call rights per SRTA Section 5.04 see NOVC 2007 Q3 10Q. NOVC and CPA firm Boulay Group by focusing in on Fair Market Value (page 25 of 10K) of CCR create FUD mislead from disclosing the future plans of rich, seasoned collateral assets to most $3B RMBS, Non-QM aka subprime portfolio. Current Value of CCR mean NOTHING it is the future plans to use Collateral Assets (per Section 5.04 if Service Rights Transfer Agreement see back of Q3 2007 10Q) that can be leveraged/resecuritized at NIMs net interest margins of 500 Bpts. $3Billion times x same leverage as $DX, $NRZ $45Billion times x NIM 5% = $2.3Billion. This creates a 3.30 to 5.50/share annual dividend estimate.
    5.a. This can be finance by shelf offering already approved by shareholders for Preferred Stock P/S Series F defined in $NOVC Oct 2018 Proxy 14A page 12 (prices one NOVC common right to dividend/vote at Mass Mutual cost basis $2.33/one common). These investors restructured Dynex Capital $DX together, Fortress further restructured $NCT into $DS after spinning off $NRZ, $SNR and NEWM now $GCI, they restructured public companies with the same attributes to $NOVC including $OCN Servicer of NOVC $3B RMBS Portfolio, One Main $OMF, Mr. Cooper $COOP which merged $3.8B with Fortress 70% owned Nationstar, Impac Mortgage Holdings $IMH, Capstead Mortgage $CMO used by Fortress to camouflaged Fortress ownership of Dynex Capital $DX which Wesley Edens, COB restructured 2000-03 with Barry Igdaloff (Chairman of $NOVC and served on DX Board for 20 years) and his crew, on and on.
    EJF Capital LLC - EJF Capital LLC
    www.ejfcap.com
  • v
    vinesandivy
    $NRZ conversation
    Fortress reorganized $SNR & $NRZ out $DS x $NCT $NOVC can split into 2 tax-free co MREIT New $NFI & HCS w/ $730M NOLs. NFI can use billions of collateral assets for new dividend Service Rights Transfer Agreement Section 5.04 Rts that control future use of collateral assets 6% WAC
    Why would Creditors (Fortress/EJF hidden by CDOs) at Novation $NOVC use NOVC only Sr Debt to hurt Common? Creditors also own 31.3M 27% common, 90M w/ co-investors Mass Mutual/Barings & Fortress' co investor that reorganized Dynex Capital $DX w/ Barry Igdaloff NOVC CoB.
    Bullish
  • v
    vinesandivy
    Fortress/EJFcap own $NOVC hidden by CDOs Taberna I/II that own both 27% 31M shrs $NOVC & only Sr Debt to exit Ch 11. How can Fortress/EJF sit at capital table promote Common when they also use Sr Debt to destroy common? NOVC Sr Debt is ruse to take 50M of 70M shares at pennies 72%. I believe they will copy past reorg $DS/$NRZ formerly NCT by splitting $NOVC into 2 tax free co
    1. Tax Exempt MREIT Novastar Fin’l ex NYSE NFI w/ rights that control future use of collateral assets 600% WAC to most $3B RMBS Non-QM
    2. HCS $730M NOLs 10-days 7/26-8/6 >3.5M shares trade & 73% is shorted.
    MassMutual & sub-Barings with Fortress past DX co investors led Chairman Barry Igdaloff hold 90M with small count.
  • v
    vinesandivy
    $GCI conversation
    Fortress reorganized 3 Tax Exempt MREITs $NEWM now $GCI, $SNR & $NRZ out $DS x $NCT $NOVC can split into 2 tax-free co MREIT New $NFI & HCS w/ $730M NOLs. NFI can use billions of collateral assets for new dividend Service Rights Transfer Agreement Section 5.04 Rts that control future use of collateral assets 6% WAC
    Why would Creditors (Fortress/EJF hidden by CDOs) at Novation $NOVC use NOVC only Sr Debt to hurt Common? Creditors also own 31.3M 27% common, 90M w/ co-investors Mass Mutual/Barings & Fortress' co investor that reorganized Dynex Capital $DX w/ Barry Igdaloff NOVC CoB.
    Neutral
  • j
    jdheart101
    WE ARE READY FOR SOME NEWS BIG TIME .25 COMING
  • A
    Andrew
    Why is the 1 year target so high on a stock that has done nothing for a long time I wish it would just get to a buck
  • W
    Wayne
    I don't know, there is nothing reported that I can see. Vanguard only allows the sale in whole cents so my open sell orders are for $0.06. I like doubling my money in a short time.
  • A
    Alan
    What is going on????
  • a
    andrew
    only the officers of this co. are allowed to earn any money. andy
  • v
    vinesandivy
    HCS www.healthcare-staffing.com is 100% owned subsidiary of Novation Companies, Inc. traded OTC symbol NOVC which holds $728M NOL 713 shareholders of record SR per 2019 10K certified by CPA firm Boulay Group. Why NOVC fails to identify HCS as owned by NOVC Shareholders is mystery for NOVC Board: Barry Igdaloff, Howard Amster (both DX Investors) and 3 appointees of Chuck Gillman, Jeff Eberwein David Pointer, CEO, Lee Keddie and H Tim Eriksen. NOVC Shareholders deserve to have label attached to every HCS web site, stating HCS is 100% owned by NOVC Shareholders.
  • B
    Bilgewasser
    362,048 shares exchanged hands yesterday. Hmmm.
  • M
    Marius
    i dont know why the volume is so low on this.. they have alot of assets and not much liability.. they need to work on growth, but i think the pandemic can accelerate that from a health care staffing point.
  • □∙▪ΡΩŴΞЯ§ŁΔVΞ▪∙□
    $LQSIF conversation
    about a 100% gain in 6 mos ...
    does alcanna remain separate or does it also become $novc with $ysscf r/m ?
  • v
    vinesandivy
    $NOVC is owned 114.6M shares by investors that do not trade. Per S-8 filed at NOVC with SEC there are only 114.6M common shares outstanding CSOS Dilute, therefore no shares are available. Yet 8M shares traded since 2/8/21, 50M OVER LAST 365 DAYS on No News, No 10K, No 2020 Proxy/Annual Meeting. The pps has gone from 1.8 cts to 24 cts on very large volume today it ended 15 cts. Let's call it the way it is someone with a real narrative is buying NOVC professionally on no news. On top of this NOVC Chairman of the Board Barry Igdaloff (who restructured $DX with $NOVC Note Holders resigned from DX Board after 20 years 8/31/20 and NOVC provided no disclosure of his appointment as NOVC Chairman of the Board).
    NOVC copies Fortress redo of DS and NOVC separates Novastar Financial Inc. NFI ex MREIT and deploy Cleanup Call Rights per Service Rights Transfer Agreement Sec 5.04 to access rich, seasoned collateral assets that can be leveraged and resecuritized into a New NFI Dividend. Igdaloff denies this but NOVC is surrounded by World Class MREIT, NOL, CCR investors like:
    Note Holders Fortress behind CDO Taberna and EJF Capital behind Kodiak CDO own 31.3M
    Mass Mutual and sub Barings 19.3M
    Barry Igdaloff and his cabal of ex DX investors own at least 36M
    I have shareholder count of less then 10 that hold with the remainder of 713 Shr Rec per 10k 2019 28M
    Adds up to 114.6M compared to 114.6M CSOS Dilute per S-8. NO shares available in NOVC, NO News on NOVC and out of the blue millions of shares traded. See www.otcshortreport.com www.otcmarkets.com
    OTC Short Report - number one tool to track short selling interest on OTC Companies, check daily short information, short data, short perfomance
    OTC Short Report - number one tool to track short selling interest on OTC Companies, check daily short information, short data, short perfomance
    www.otcshortreport.com
  • v
    vinesandivy
    https://www.wallstwarriors.com/c/penny-stocks/https-www-otcshortreport-com-company-novc
    I believe Masa Son CEO of SoftBank parent to Fortress can use his petty cash ($100B cash) to invest in NOVC Preferred Series F read NOVC 2018 Proxy Page 12 Rights offering. PS Series F is only 500M common equivalents prices at exactly Mass Mutual and sub-Barings cost basis $2.33/one NOVC common right to vote, receive a dividend to one common share.
    Fortress, EJF Capital 100% Note Holders & 31.3M 28% $NOVC shares aligned w/ Common; Hard to find Note Holders IS as Fortress hides behind CDO Service Rights Taberna I & II 67% and EJF Capital behind CDO Service Rights on Kodiak CDO 33%
    Mass Mutual & subsidiary Barings owns 19.3M & Note Holders own 31.3M & Fortress' co-investors from Dynex Capital $DX Barry Igdaloff NOVC Chairman of the Board and his DX co-investors Thomas Akin, Todd Emoff, Howard Amster along with Barry Igdaloff’s co-investors Chuck Gillman/Jeff Eberwein/Whitney Tilson own 36M & myself and 6 others plus the other 713 Shr Record own 28M shares adds up to 114.6M shares that do not trade on NOVC, there are only 114.6M shares per S-8 recently filed at SEC.
    8M $NOVC shares trade from 2/8/21 to 2/25/21 on No News, No 10K 2020, No Annual Meeting or No 2020 Proxy 14A and 50M shares trade over 365 days.
    Someone is buying off the real narrative vs the false narrative they have developed to take tens of millions of NOVC shares at pennies on top of 46M shares they have already given themselves (15M Board + 31.3M Note Holders all related).
    These investors can make over $3B by duplicating their restructuring blueprints from $DX and $NRZ aka $DS by:
    $NOVC spinoff MREIT NFI Novastar Financial Inc. use CCR cleanup call rights per Service Rights Transfer Agreement Sec 5.04 that allows NFI access/control over collateral assets on $3B RMBS portfolio. These Collateral Assets can be leveraged/resecuritize into new Dividends est 3..75/common shares and remaining public company can be position HCS www.healthcare-staffing.com as SPAC w/ $730M NOLs. Both MREIT and SPAC would be tax free.
    This is exactly what Fortress did at Newcastle NCT now called Drive Shack DS after it separated 3 MREITs NRZ, SNR and NEWM see Edens Presentation to DS Shareholders attached.
    Bullish
  • A
    Andrew
    What happened today
  • D
    Doug
    Think about it Novation Companies Inc. OTCBB $NOVC per 2020 10K has 116m CSOS but that is dilute so we have to back out 22.350M ten yr warrants given Note Holders Fortress aka SoftBank and EJF
    than MassMutual Barings doesn't trade so 19.3m shrs and a small share holder count holds 23M shrs this leaves only 51M shares outstanding to trade but that not the end 19.3M-23m= 51m shrs outstanding not float than Page 7 of 10K shows 696 Shareholder of Record not including SR inside street names let est 5m this leaves 46M shr outstanding but wait NOVC Chairman of the Board (former DX Board Member with Thomas Akin and Fortress) Barry Igdaloff''s cabal of Thomas Akin x CEO COB of Dynex Capital $DX sat on DX board for years with Barry Igdaloff, Todd Emoff and his bro + Chuck Gillman own at least 36m of 116m CSOS in 2020 10K. Conclusion is from this estimate only 10M NOVC Common Shares outstanding are available to trade or lend.
    ONLY 10M share outstanding available yet we can est 5M shares est for 696 SR is low and I know others that own NOVC and do not trade but given this 10M share est (46M-36M) 10m shr outstanding available to trade or lend and NOVC trading volume from 2.8.21 to 3.10.21 has been over 20M shares traded or more then double 10M shares above. JUST IMPOSSIBLE
    This trading volume of 20M shares includes 3M and 1.8M for 3.9.21 and 3.10.21. Further the question is where are shares coming from and who would buy at 2 to 7 cts, 14 cts stock 20M shares just since 2.8.21?Who would buy NOVC given the horrible IMO false narrative of news bad 10k Form 4s creating impression NOVC Board Members; Igdaloff Amster Pointer are dumping millions of NOVC shares at
    pennies. I believe someone is buying NOVC off inside information while NOVC Board conceals true plans. Concealing future material events rents GAAP Boulay Group to conceal 730M and call rights to most of $3B portfolio of rich and seasoned collateral assets only NOVC owns. This creates a "going concern" all a false narrative created to such up tens of millions of NOVC shares for the lowest possible price.
    10M shares available & outstanding yet NOVC sees double the trade 20m shr just over the last month 2/8 - 3/10/2021. Also we can assume 5M held by 696 SR is low.
    Bullish
  • L
    Laurenzhe
    Burping?
  • v
    vinesandivy
    Annual Meeting 12/12/19 All shareholders should understand the plan from NOVC Board
    1. Fortress (Mr. Wesley Edens COB is ex Blackrock & his Head of Credit Peter Briger is ex Goldman Sachs Sr Partner, Special Situations) Mr. Manny Friedman founder of EJF Capital hold with Fortress 31.250M NOVC common/warrants. I believe they and NOVC Board have concealed their identifies by their control over the economic interest in CDOs that hold 100% of NOVC Sr Debt (Per Q2 Ex 10.1 Dan Bass, CFO of Fortress signed off on Taberna I & II 67% and Neal Wilson Co CEO of EJF signed for Kodiak CDO I holds 33%).
    2. Mass Mutual Barings 19.3M common 20% Barings said they are very committed to monetize NOVC $750M DTA (NOLs/Unrealized Tax Capital Losses).
    3. Four related investors own at least 33M 33%; Barry Igdaloff/Rose Capital 10M common shares, his college pal Todd Emoff/Freedom Asset Management est 5M, Howard Amster/Various Entities DX/NOVC investor 3.5M shrs, and Thomas Akin/Talkot Capital est 5M 5%, Mr. Akin is also on IMH Board. IMH share price double over last few months securitizing same assets NOVC holds rights valued at 0. Mr. Akin and Mr. Igdaloff sat on Dynex Capital NYSE:DX Board together. These investors are all DX investors that have teamed up Spring 2015 with investors lead by Chuck Gillman and Jeff Eberwein/Lone Star Value Management hold est 10M 10%.

    These 3 investors control NOVC by holding at least 84M est 80% NOVC common shares and the investors in 1. above also control 100 % of the Sr Debt which appears to have been used as fodder to extract 41m NOVC shares at pennies or less over the last few months.
    IMO these investors are experts in values GAAP must allow the board to hide in SEC reports. Values including;
    Plan for NOVC former MREIT NovaStar Financial Inc.
    Rights to $3B portfolio of Non-QM MBS called cleanup call rights CCR. CCR allow NOVC access most of $3B Non-QM portfolio of mortgages (Loans that are profitable/seasoned w/ coupons north of 600 Bpts) that can be called back and resecuritized.
    Complete reserve of a $750M DTA (including NOLs). NOLs were exploited at related investments of these investors; DX, NCT, IMH and NOVC. NOVC stated how valuable NOLs are to their future yet after officially exiting CH 11 4/19/19 no plan has been announced while 10M RSU have been awarded the Board/These investors by these investors.
    I believe NOVC mispricing these assets and worse concealing their plans from SEC documents. I believe NOVC will exploit these values especially the CCR and generate billions in tax free cash flows. I believe NOVC will copy Fortress' (investor in 1. above) playbook at Newcastle Investment Group NCT which from 2013 to 2016 reorganized NCT from 5/pps into 4 separate public companies trading in aggregate 33/shr & most paying dividends. Fortress spun out from NCT 3 MREITs (NRZ, SNR & NEWM) and changed name from NCT to DS Drive Shack (kept all NOLs from NCT). Review of 14A Proxy and 10K from these 4 entities shows Fortress retained massive positions in common, warrants and options in each of these 4 issues and in at least 2 of the organizations structured lucrative 1.5% management agreements for Fortress. NOVC Shareholders should expect a similar plan or know why not. This is the clue to NOVC future IMHO.
    NOVC can spin NovaStar Financial Inc. NFI out as MREIT and have Fortress manage just like they manage NRZ today (NFI produced $40B Non-QM mortgage loans from 1996 Founding to 2007). They can use CCR to generate dividend including leverage. They can build out their only operating unit that is producing estimated $60-65M annual gross revenue with high moat TAX FREE.
    Key question for NOVC Shareholders is: What is the reason for the delay of these plans, since the investors in 1. above were awarded 31.250M 8/9/19 & Board has awarded themselves est 10M RSU (9M common for deferred interest and 21.250M 10 Yr Warrants at penny)? This is the question facing shareholders. Ironically, I’ve read the documents and Fortress has little to no cash in 67% of NOVC Sr Debt.
    NOVC takes the position in SEC disclosures that the CCR are worthless and no plan exists to monetize NOVC $750M DTA (NOL and other tax benefits). Evidence suggests these CCR are valuable. Further evidence suggests NOVC Board is concealing important facts on their only operating subsidiary www.healthcare-staffing.com HCS. Only the minimal disclosure is provided in SEC docs. I believe the delay can be explained by the follows:

    NOVC Board is controlled by 5 investors that have awarded themselves est 10M RSU since taking control of NOVC Spring of 2015. 3 have been appointed by Mr. Gillman/Eberwein.
    Feb 2017 Mr. Gillman/Eberwein & their HFs were fined by SEC est $240K for failing to file appropriate documentation on an investment see $. One of their motivations per this SEC filing was to delay temporarily news allowing them to buy more shares. NOVC from 11.22.19 to 10.1.19 (39 trading days) saw 5.2M shares BOUGHT on NOVC.
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