Novation Holdings Inc. (NOHO)

[Hi_Lo]

Or Gelmon could set NOHO for a reverse split, rinse and repeat until NOHO gets delisted.

That's what the Asher Enterprises article mentions about Asher's toxic financing.

Gelmon worked with Asher Enterprises to get toxic financing for NOHO.

Asher Enterprises was blacklisted by FINRA (Financial Industry Regulatory Authority) in 2014.

https://www.securitieslawyer101.com/2014/finra-blacklists-curt-kramer-mazuma-asher-enterprises/


Hence the dilution we're currently witnessing - but now with diminishing returns for Gelmon since people have finally figured out the scam.

The reverse split the article mentions so they can "start over" is what I believe will happen. Rinse and repeat.

Just search for Asher Enterprises in the quarterly reports:

Novation Holdings Inc. 10-Q Jan 17 2012
https://seekingalpha.com/filing/512086

Novation Holdings Inc. 10-Q/A May 3 2013
https://seekingalpha.com/filing/1025947

Novation Holdings Inc. 10-Q Nov 30 2013
http://www.secinfo.com/d1zv8w.nv.1e.htm

Novation Holdings Inc. 10-Q May 30 2014
https://seekingalpha.com/filing/1617337

Plus Asher Enterprises also pops up for financing in other Gelmon run companies like SNRY that went through a similar dilution.

What a scam NOHO is - from serial scammer Michael Gelmon.