Novation Holdings Inc. (NOHO)

[Hi_Lo]

"really don't think this guy is going to ruin his reputation on a scam."

His reputation is already ruined:

Michael Gelmon's reputation - just his name (and past involvement in AEGY) brought a cease trade order from the Alberta Securities Commission according to AEGY's management team.

This is REAL NEWS published in a REAL news service:

http://www.hotstocked.com/article/77332/focus-gold-corp-otcmkts-fgld-jumps-on-rumors.html

This brings us on to FGLD's CEO, Michael Gelmon. According to the official filings, he is still at the helm of ADAC and he is (or has been) involved with numerous other penny stock companies. Mr. Gelmon is listed as the President of Safeguard Security (OTCMKTS:SSHSQ) and as the CEO of Novation Holdings Inc (OTCMKTS:NOHO), Solar Energy Initiatives Inc (OTCMKTS:SNRY), and Banyan Corporation (OTCMKTS:BNYN).

He was also the CEO and Chairman of the Board of a heavily traded pot stock called Alternative Energy Partners Inc (OTCBB:AEGY). AEGY recently received a Cease Trade order from the Alberta Securities Commission and, according to the document, it was issued due to reporting problems. AEGY's management team, however, reckon that the sole reason for the action is Mr. Gelmon's previous involvement with the company and they seem insistent on pointing out that he is no longer a part of it.

What does that mean for FGLD? We don't know, but it would appear that Mr. Gelmon is quite a controversial figure in Pennyland. In any case, investing in a company whose stock is propelled by nothing more than speculations and one that has so many red flags around it should be accompanied with a lot of due diligence and a careful consideration of all the risks.


IMO, the last paragraph could easily apply to NOHO. Get out of this scam if you can or don't get into it to begin with. NOHO will end up like all the other Michael Gelmon companies - no bid or suspended.