Fortress Financial Group fka FFGO

[Event Driven Investor]

Fortress and EJF Capital two of the most accomplished MREIT Investors hold 27% of Novation Companies Inc. OTCBB $NOVC common shares 31.3M behind Off Balance Sheet Entities OBE aka CDOs Taberna CDO I and II and Kodiak CDO I. CDOs they paid relatively nothing to own via CDO Service Rights the same year Edens $DX pals Igdaloff and Amster joined $NOVC Board of Directors. These OBE also own $NOVC only Sr Debt to exit Ch 11.
$NOVC Board of Directors as of 7/24/23 Barry Igdaloff, (JD, CPA) Howard Amster have paid these OBE all their back interest compounded plus non-defined penalties $6.3M inside Ch 11. Many months after $NOVC Board officially exited Ch 11 $NOVC Board paid them Fortress/EJF Capital aka Taberna CDOs I & II/Kodiak CDO I millions more cash plus gave them 31.3M $NOVC common shares 27% for at a sub penny share price.
It my opinion this could not have happened without the Sr Debt Holders past relationship with $NOVC Board of Directors. READ the deal Barry Igdaloff and Howard Amster gave Fortress/EJF Capital many months after officially exit Ch 11; millions more cash plus 31.3M $NOVC common shares 27% of all common shares outstanding dilute. This included 9M $NOVC common shares for zero basis plus 22.25M Ten Year Warrants at 1 cent strike https://www.globenewswire.com/news-release/2019/08/09/1900133/0/en/novation-companies-inc-executes-first-amendment-to-senior-secured-note-purchase-agreement.html
F. ** WHY? That answer I believe is for a Quid Pro Quo aka an understanding between the Senior Debt Holders and Novation Companies Inc. OTCBB $NOVC Board of Directors and their major shareholders MassMutual & sub-Barings and Jefferies and White Mountains Capital $WTM. $WTM made a major investment in EJF Capital after I briefed the VP M&A on this thesis. That understanding I believe is the Sr Debt Holders agree to retired 100% of worthless Sr Debt and in return invest alongside these investors into $NOVC Shelf Offering Preferred Stock P/S Series F buried inside their poison pill renewal made Oct 2018 in $NOVC Proxy SEC Form 14A (page 12 values one $NOVC common right at $2.33/share precisely the cost basis of MassMutual). READ Page 12 https://dd7pmep5szm19.cloudfront.net/2485/0000921895-18-002544.pdf
Not only would they create 2 tax free public companies one the merger of $HSON/$NOVC HCS $730M NOLs but relaunching $NOVC former tax exempt MREIT (Most Certain under New Name) monetizing CCR rights into new dividend payment and lucrative management fees to Fortress and/or EJF Capital. Wesley Edens, CEO and Founder of Fortress and EJF Capital Emanuel Manny J Friedman would appoint their own Board of MREIT professionals. $RITM Rithm Capital formerly named New Residential Investment Corp aka $NRZ shareholders paid Fortress annually a management fee over $150M until last year when Fortress Terminated their external MREIT management agreement triggering a $400M Termination Fee. Most likely $400M was added to the purchase price Fortress Mgt and Mubadala Inv Co (Rajeev Misra) paid to buy Fortress back from Softbank, see WSJ, Bloomberg and other Reports 5/10/23.