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What information is David Dreman (Author of Contrarian Investment Strategies and CEO of Dreman Value Mgt) & Goldman Sachs & Blackrock using to BUY millions of sub-Penny Stock Novation Co $NOVC especially since $NOVC Board of Directors triggered SEC Rule 15c2-11 which STOPs both public SEC Filings & Retail Bid/Ask but still allows these expert investors aka hedge funds to Trade Novation Companies Inc. OTCBB $NOVC Common Shares off no retail information, effectively SEC allows experts to step in front of Mr. Market? Here is why?
What news are whale-size investors experts using to BUY millions of Novation $NOVC shares? https://www.marketscreener.com/quote/stock/NOVATION-COMPANIES-INC-120787360/company/
This link shows expert investors buying $NOVC many since $NOVC Board triggered SEC Rule 15c2-11 including Goldman Sachs bought 360K $NOVC common, Blackrock bought 260K $NOVC common, David Dreman/Dreman Value Mgt bought 533K $NOVC common, Putnam Investments bought 387K $NOVC common, Bridges Investment Mgt bought 479K $NOVC common, Bank of America, NA bought 671K common, GE Investment co bought 333K $NOVC common. Mass Mutual & sub-Barings hold 19.3M $NOVC common 17% and Thomas Akin’s HF Talkot Capital owns 1.9M $NOVC common. Akin served on the Dynex Capital NYSE $DX Board of Directors for many years with $NOVC Chairman Barry Igdaloff, JD, CPA. Igdaloff served 20 years on the $DX Board (per DX 8K filed 9/3/2020) after restructuring $DX with Fortress assistance. Akin and $NOVC Board of Directors Barry Igdaloff and Howard Amster made a mint at Dynex Capital MREIT like $NOVC ex MREIT NYSE $NFI Novastar Financial Inc.
Here is why I believe powerful whale-size investors, many related to $NOVC Board or controlling investors, are buying a sub-penny stock $NOVC off non-retail information courtesy of SEC & Board of Directors https://www.marketscreener.com/quote/stock/NOVATION-COMPANIES-INC-120787360/company/
I have confirmed my thesis with both Saxon Capital $SAX (sold to Morgan Stanley for $760M) ex-CEO Michael Sawyer & Jason Stewart the MREIT Director at www.jonestrading.com (ranked by TipRanks) formerly MREIT Research Director at FBR Friedman, Billings and Ramsey now EJF Capital www.ejfcap.com that these investors that control; $NOVC Board, $NOVC only Sr Debt to exit Ch 11 and 116M Common Shares Outstanding Dilute will not waste Novation Companies Inc. $NOVC $730M NOLs www.healthcare-staffing.com HCS or Rights CCR defined by Section 5.04 of Service Rights Transfer Agreement, SRTA see Exhibit 2.1 of 10Q filed for Q3 2007. $NOVC Board restructured Dynex Capital $DX NYSE tax-exempt MREIT with Fortress. Now Fortress/EJF Capital/Mass Mutual & sub-Barings/Jefferies & White Mountains Capital $WTM are these investors.
Mr. Sawyer and Mr. Stewart both know these investors above and agree with me they are some of the greatest MREIT Market Makers of all time, specifically Fortress/EJF Capital. Wesley Edens x Blackrock, Lehman Bros/Peter Briger x Goldman Sachs Sr Partner, Co-CEOs of Fortress and Neal Wilson Manny Friedman Co-CEOs of EJF Capital also Founders of Friedman, Billings & Ramsey FBR. I shared this thesis regarding what I believe to be the true restructuring of Novation Companies Inc. OTCBB $NOVC balance sheet and capital table. They separately agreed with the concept that $NOVC can break into 2 tax-free public companies by spin-out their former tax-exempt MREIT Novastar Financial Inc. NYSE $NFI which holds CCR cleanup call rights, that can be monetized into MREIT Dividend. Novation Cosigned a Service Rights Transfer Agreement SRTA a P&S between $NOVC & $SAX for the sale of MSR mortgage servicing rights, Section 5.04 provided for only $NOVC to retain these CCR rights that control the future use of billions in rich/seasoned collateral assets ideal to be leveraged/securitized into a tax-exempt MREIT dividend & external management fee EMF for Fortress.
Fortress cashed every year over $150M EMF at $RITM aka $NRZ until months ago when Fortress triggered a $400M termination fee. $NOVC Board and Boulay Group a top 100 CPA firm per #AICPA, paid well into 6 figures to audit/certify in accordance with GAAP $NOVC 10Ks fail to disclose this in SEC filings. Fortress/EJF Capital are the 2 top MREIT Market Makers and their control over $NOVC Board of Directors, ownership of 100% of $NOVC only Sr Debt & 27% of all $NOVC common shares are hidden behind CDOs Taberna I & II/Kodiak CDO I which they paid almost nothing to own via CDO Service Rights.
Fortress led the restructuring of Newcastle Investment Corp $NCT now traded Drive Shack $DS which retained all of the $160M NOLs as the 3 MREITs they spun out of $NCT are already tax-exempt per IRC. Newcastle Investment Corp’s previous symbol $NCT became Drive Shack $DS and 3 tax-exempt MREITs were spin-out including $RITM formerly traded $NRZ, $SNR New Senior sold for $2.3B & $GCI formerly New Media X $NEWM. If these investors duplicate this restructuring blueprint at Novation Companies Inc. OTCBB $NOVC they make BILLIONS and create an annual cash flow of hundreds of millions in dividends and EMF every year out of a sub-penny stock. These investors place expert investors ahead of Mr. Market courtesy of SEC Rule 15c2-11. This Rule stops the filing of SEC documents and quotes for retail bid/ask aka any news to Mr. Market. $NOVC outside counsel www.olshanlaw.com are experts in this Rule as are $NOVC outside auditor CPA firm www.boulaygroup.com
Evidence shows $NOVC Board of Directors; Barry Igdaloff & Howard Amster both made a mint restructuring Dynex Capital NYSE $DX with Fortress assistance. Both $DX and $SAX were tax-exempt per IRC MREITs spun out of the same public company based in Glen Allen, VA. Manny Friedman, and Neal Wilson, Co-CEOs at EJF Capital, was the book runners for both SAX and DX. $NOVC Board past and present have been working closely with investors including Whitney Tilson Small Cap Investors Chuck Gillman/Jeff Eberwein, Fortress Co-CEOs Wesley Edens, Peter Briger, EJF Capital Co-CEOs Manny Friedman, Neal Wilson, Barings and Mass Mutual William Bill Wallis and his former superior Barings CEO/Chief Investment Officer of MassMutual Thomas Finke, ex CEO/COB of Dynex Capital NYSE $DX, ex Board Member at IMH and major shareholder of $NOVC, Thomas Akin, President of Jefferies Brian Friedman, CEO of Jefferies Rich Handler, and Frank Bazos, Special Advisor and former VP Merger & Acquisitions at White Mountains Capital.
This is the thesis why related experienced HF investors own almost all $NOVC common, all $NOVC only Sr Debt to exit Ch 11 and control the Board of Directors. This is also the thesis explaining why whale-size investors many related to $NOVC controlling investors are BUYING millions of $NOVC common at sub-penny prices https://www.marketscreener.com/quote/stock/NOVATION-COMPANIES-INC-120787360/company/
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