Novation Holdings Inc. (NOHO)

[zeekhoe]

NEWS: Novation Holdings (NOHO) Announces Three Month Revenue Growth for Receivables Operations

http://www.otcmarkets.com/news/otc-market-headline?id=16277977

BOCA RATON, FL, Jul 09, 2014 (Marketwired via COMTEX) -- Novation Holdings (OTCBB: NOHO) (PINKSHEETS: NOHO) today announced that its controlled subsidiary, Focus Gold Corporation (OTCQB: FGLD), has obtained a nearly 100 percent revenue increase for three consecutive months. Gross collections of $36,283 were achieved in April, $73,383 in May and $144,127 in June of this year, resulting in total gross collections of $253,793 for the calendar quarter ending June 30. The two FGLD subsidiaries maintain an office near Buffalo, New York, and plan to expand the New York office and to open additional offices in South Carolina and Florida in the next few months.
Management attributes the significant growth rate to the application of systematic collection methodology and the intelligent leverage of technology, coupled with a dedicated team effort. Marco Mckithen Senior Vice President, Collections for Focus Gold Financial Corp., stated: "Our system is the key to our success; everything we do is calculated and measured, making it very scalable. Proving our system these last few months has strengthened our use of capital and we look forward now to the significant growth that will occur."

According to Miguel Guzman, Senior Vice President of Personnel Development, "The collection subsidiaries now employ a staff of 23, which will increase to 32 by mid-August, and with a goal of 100 by year end." Novation Holdings has provided the seed capital to FGLD to prove the operating model and is now working to provide the capital needed to expand the proven model significantly over the next six months.

The business and retail collection industry employs more than 450,000 people nationwide through more than 4,000 separate collection agencies and in the commercial side alone, more than $150 billion in debt was placed with collection agencies in 2011, resulting in more than $40 billion in collections. FGLD expects to add more employees to both of its corporate divisions and is actively seeking roll-up targets in both retail and commercial collection markets.