Novation Companies Inc (fka NOVCQ)

[Penny Machine]

Emerged From Bankruptcy - Just announced on FINRA http://otce.finra.org/DailyList

[bankbuyer]

Shares are 4 cents or 1 cent split adjusted.

BK declared and over $220 million in claims against the company.

Con Man Morris said ' 3 one billion dollar companies' would emerge'.

I said BK and a zero share price.

Who was correct ? LMAO

[bankbuyer]

Yes BANKRUPTCY as the CON is now OVER.

The real CROOK has been EXPOSED.

'3 -$1 billion companies'

That is what the CROOK said.

[willlbone]

Chap 11 news.

[Renee]

NOVC: effective July 22,2016 NOVC will change to NOVCQ, bankruptcy:

http://otce.finra.org/DLSymbolNameChanges

[bankbuyer]

0.055 cents as the CON lingers on.

Pumping across all message board platforms basically stopped.

Volume near zero as remaining longs cant find a buyer.

I suspect the clearing price is 1 or 2 pennies.

[bankbuyer]

Now 8.66 cents as CON has little time left.

At one time, there were frivolous threats from the head CON about the FBI and SEC investigating anyone with a negative view.

I suggest the investigation should be on the CON.

[bankbuyer]

10.6 cent close as CON ever nearer to it's end.

Most of the CON crowd has disappeared from the various boards where they attempted to off load their shares.

Reality bites as they found no buyers and are now stuck with their loss.

They are in the pain they so deserve.

[bankbuyer]

11 cents as the CON grows closer to closure.

Massive debt, no ongoing business and negative TBV.

No attempts to CON have been made for weeks ?

Why ?

[bankbuyer]

12.2 cents: any comment from the CON crowd ?

How about hick from Virginia ?

The 3 billion $ companies.

Criminal.

[powerbattles]

Doing my dd research and ran into NOVC. This is the buyout. I am not sure why they sold at half of the current pps.

Novation to Sell Corvisa to ShoreTel

Novation to Focus on Taking Advantage of Large Deferred Tax Asset

KANSAS CITY, MO--(Marketwired - Dec 21, 2015) - Novation Companies, Inc. (OTCQB: NOVC) ("Novation") today announced that it is selling Corvisa LLC to ShoreTel, Inc. (NASDAQ: SHOR). ShoreTel will pay $8.5 million in cash to acquire 100% of the outstanding membership interests of Corvisa. The transaction is expected to close early in 2016 and is subject to customary closing conditions.

Corvisa provides cloud communications solutions for businesses. Corvisa's products include contact center software, business phone systems and connectivity services along with a proprietary development platform. ShoreTel is a provider of hosted phone systems and unified communications solutions.

"ShoreTel's backing and strong market position will significantly expand the opportunities for Corvisa and the technologies that have been built," said Rodney Schwatken, CEO of Novation. "The sale is good news for Novation as it allows the company to significantly reduce its net cash outflow and re-allocate resources to focus on areas that align with the Board's strategic direction."

Go-forward Strategy
After closing the Corvisa sale, Novation intends to continue its strategy of seeking to acquire operating businesses or make other investments that generate taxable earnings. Because Novation has large net operating losses, Novation has the ability to operate in a tax-efficient manner. Novation has approximately $675 million in federal net operating losses which may be carried forward to offset future taxable income. Recent performance has not allowed Novation to capitalize on this significant strategic advantage. Novation is in the very early stages of implementing this strategy and has not yet identified any specific acquisition targets.

The pending sale of Corvisa has caused Novation to delay the filing of its 10-Q with the SEC. Novation now expects to complete its quarterly filing as soon as practicable.

Stifel, Nicolaus & Company, Incorporated advised Novation on the sale of Corvisa. A lengthy and thorough sale process was undertaken prior to accepting the ShoreTel bid.

About Novation Companies, Inc.
Novation trades on the OTC Markets' Group inter-dealer quotation service as an OTCPink security under the symbol NOVC. For more information, please visit www.novationcompanies.com or contact Matt Kaltenrieder, Investor Relations, 816.237.7508 or [e-mail].

Cautionary Statement Regarding Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than historical facts, that address activities (including about the Pending Acquisition) that Novation assumes, plans, expects, believes, intends or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. The forward-looking statements are based on management's current beliefs, based on currently available information, as to the outcome and timing of future events. These forward-looking statements involve certain risks and uncertainties that could cause the results to differ materially from those expected by Novation's management. Information concerning these risks and other factors can be found in Novation's filings with the Securities and Exchange Commission, including its Annual Reports on Form 10-K, available on Novation's website or the SEC's website at www.sec.gov.

Contact:
Matt Kaltenrieder
Investor Relations
816.237.7508
[e-mail]

Copyright © 2015 Marketwired. All Rights Reserved

[bankbuyer]

13 cent CLOSE as the CON comes close to an end.

The CON was perpetrated by many including the fool booted off both IV and here.

Thankfully that CON lost his rear and has since tried to hide from the authorities and those he tried to bamboozle :)

[bankbuyer]

14 cent close as the CON is very evident.

The CON included that NOVC would be 3 - billion $ companies by now.

It also included that the FBI and SEC were investigating posters.

Instead the chief CON artist disappeared.

Although I know his whereabouts. Lol

[willlbone]

File NT 10Q on 16th. Ten cents.

[bankbuyer]

At 18 cents, the CON in full view.

The main CON disappeared about 2 years ago after it became too risky to continue the scam.

10Q delayed. Reason given 'costs'

Total POS.

[bankbuyer]

0.196 cent close as the CON is coming to a close.

There was a punk P.I. who claimed there would be 3 one billion $ companies by now.

That didn't happen.

There was also a load of selling while posting strong buy on various boards.

That scheme didn't work either.

So the P.I. disappeared with massive losses.

[bankbuyer]

I expect a massive rights offering.

Corvisa could also be shuttered.

[willlbone]

So back to 27 cents.

[bankbuyer]

He has no restricted stock and options are all underwater.



W. Lance Anderson (3)



4,274,022






4.7

%


Rodney E. Schwatken (4)



1,508,273






1.6

%


Matthew Lautz (5)



545,398






*





Steve Haslam (6)



273,839






*





Edward W. Mehrer (7)



559,686






*





Gregory T. Barmore (8)



716,302






*





Art N. Burtscher (9)



303,293






*





Howard M. Amster (10)



3,866,690






4.2

%


Barry A. Igdaloff (11)



7,677,463






8.4

%


Robert G. Pearse (12)



—






*





Jeffrey E. Eberwein (13)



600,965






*





All current directors and executive officers as a group (11 persons) (14)



20,089,692






22.0

%


Massachusetts Mutual Life Insurance Company(15)










1295 State Street, Springfield, MA 01111



19,258,775






21.1

%















*

Less than 1%




(1)

The mailing address of each beneficial owner is 2114 Central Street, Suite 600, Kansas City, Missouri 64108, unless otherwise shown.




(2)

Based on 91,479,519 shares of Common Stock outstanding as of April 23, 2015.




(3)

Consists of 1,026,609 shares of common stock held directly; 36,111 shares of stock held in a trust with his spouse; 35,729 shares held by Mr. Anderson’s son which are deemed indirectly held by Mr. Anderson; and 3,175,573 shares of common stock issuable pursuant to options exercisable within 60 days of April 23, 2015.

[willlbone]

Common to see shares dumped after key figures leave the company. There are usually restricted shares or options that must be sold within 30 days after leaving or you lose them.

[bankbuyer]

What makes you think Anderson is selling ?

The company has no equity value as it isn't worth the debt.

The sellers could just as easily be one of the many pumpers on various boards who have lost their a -hole

[willlbone]

And now he is selling his shares.

[bankbuyer]

Anderson resigns as Chairman as CON crowd in denial and silence.

Where or where is the pimp crew ?

Where is the FBI and SEC ?

There was a fool named Morris who brashly stated NOVC would be 3- billion $ companies ?

Of course, the same guy was selling while posting strong buy.

Selling at a loss, that is :)

[bankbuyer]

Anderson wildly supported by the Con crowd leaves abruptly.

The CON crowd claimed NOVC would be 3 - billion $ companies by now.

Of course, that crowd was selling all along.

[protagonist12]

NOVC knock knock

[bankbuyer]

0.231 cent close and no claims of manipulation.

The Ceo was paid over $1 million in 2014 for a negative EBITDA of over $14 million.

Only a crook could pump this POS.

[bankbuyer]

0.236 cent close and no claims of manipulation.

The company s worth zero in total with debt of $85.9million,
Only a Crook would have claimed otherwise

[bankbuyer]

27 cent close and no claims of manipulation.

There were supposed to be 3 'billion dollar' companies by now.

The potential was "mind boggling"

That was 2010. Lol

[bankbuyer]

Claims of "manipulation" have ceased.

The Con has ceased. Was there selling while posting "strong buy" ?

"You be the judge"

Today was more distribution as the seller had to keep lowering the ask.

What a tragedy for any who got conned

[bankbuyer]

Lawsuit coming from heavyweight legal firm.

Insider buys likely a token in response to the suit.

I wonder if a loser CON is trying to recoup his massive losses ?

[INTHEKNOW1]

insiders buying

[bankbuyer]

The NOVC CON has been silenced.

The CON was so extreme at one point that is claimed each of the subs could be worth "one billion".

Now there is only one sub that will likely go the way of it's predecessor, Brevient.

[bankbuyer]

91 million shares and Cloud sub did $1.4 million revenue

The cash burn will only accelerate. No way they can pay full rate interest.

[griffygriff3]

Looks like big run coming Monday! Comments?

[griffygriff3]

Big news, good volume = runner !

[griffygriff3]

Where are u knot heads today!?

[griffygriff3]

Whats the potential target pps ?

[bankbuyer]

.251 pennies and manipulation never a factor.

One must wonder how deep the CON job was however.

What if one was one of 50 friends and relatives or employees begged or cajoled to buy at much higher prices ?

[bankbuyer]

Many diehards now admit the end may be near.

All I'm hearing is they think the next news will be a seminal event and likely bad for holders of common shares.

Of course, they ignored all warnings of this for years as the stock continued to fall in a Big Bull Market.

I read that one vociferous long posted ' not much pain left at 25 cents'.

I bet few of them learn a lesson from this one.

[bankbuyer]

.253 pennies and certainly NO Con on the price.

[bankbuyer]

25.5 cents close, no CON and no "manipulation".

Seems that selling at 60 cents would have been prudent while longs praying for a miracle are staring at disaster.

The long awaited Q3 CC turned out to be a nightmare.

[bankbuyer]

NOVC no longer subject to Con.

The game is OVER. The Con defeated.

The losses and the mis-management documented in the SEC filings.

So much for "manipulation"

[bankbuyer]

A 26 cent Close and I read a 'jail' post today.

In retrospect, it should be for anyone who practically begged employees to buy 100% higher.

Mortgage originations could easily be down 20-25% in 2014 from 2013 annual figures.

[bankbuyer]

0.305 cents and not one claim of manipulation.

I would suggest that only a crook would have pleaded with employees to buy at 52 cents.

Management stated Q4 would not be good.

ResCap just settled the same lawsuit that Novc has.

It's a zero.

[bankbuyer]

31 cents and not one claim of manipulation.

The 10Q was awful. The presentation, slides, and outlook were awful.
The stock chart is awful.

Much money could have been saved by heeding my posts.

[bankbuyer]

0.321 cents no cries of manipulation.

The 10Q was a nightmare for longs as I expected. HUGE cash decline
and poor operating performance.

Q4 likely to be even worse.

[bankbuyer]

35 cent close and no cries of manipulation.

Another closing low for the year. Employees were begged to buy
at 52 cents by a desperate long.

They took a pass.

Any long owning say 500k shares is down $135k this year.

I said 52 cents was better than 42 and soon 32 will be better than 22.

[bankbuyer]

36 cents close today.

Not pretty and certainly no surprise. There are millions of shares needing to exit and no buyers at this level.

The clearing price is MUCH LOWER, painfully LOWER for any crook or crooks over exposed.

[bankbuyer]

37 cents and no cries of manipulation.

Reality is 37 cents to zero, 9.25 cents for purists.

Longs could have listened about capital structure and balance sheet erosion. They chose not to although a few wise ones have acknowledged selling out during the year.

[bankbuyer]

Lack of trading says INSOLVENT.

Stock available at 40 cents and NO buyers.