Novation Holdings Inc. (NOHO)

[Hi_Lo]

More Michael Gelmon scams:

http://www.thehotpennystocks.com/articles/solar-energy-initiatives-inc-otcmktssnry-takes-a-step-back/

In a previous article we took a brief look at current SNRY CEO Mr. Michael Gelmon’s track record with previous OTC companies where he mostly served as CEO, as well as the total failure those enterprises turned out to be. This list includes Banyan Corp. (OTCMKTS:BNYN), Protocall Technologies, Inc. (OTCMKTS:PCLI), PaperFree Medical Solutions, Inc. (OTCMKTS:PFMS). What those businesses have in common is also the bitter pill of toxic financing which eventually drove them to their current status of around $0.0001 per share, and in the Pink No Information tier.

SNRY‘s own filings contain the name of Asher Enterprises, Inc. – an infamous entity that provided heavily toxic financing for other OTC companies in the past. Combining that with the fact that SNRY recently assumed a fair additional amount of convertible debt from a restaurant business, and then approved a twofold increase of their own authorized shares, the situation leaves very little to the imagination of traders and gives little hope that this latest venture of Mr. Gelmon will be a success.

NOHO's toxic financier Asher Enterprises was blacklisted by FINRA in 2014.

Another Michael Gelmon penny stock scam - Focus Gold Corp was revoked and delisted by the SEC on June 20, 2017.