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Re: CS on NRZCould Wesley Edens, COB of Fortress & COB of NCT, Newcastle duplicate his reorg of NCT at NOVC. Fortress owns 25% of NOVC equity with MREIT expert Manny Friedman, CEO EJF Capital x Founder of FBR? Fortress & EJF own all NOVC Sr Debt via CDOs they control. Thomas Akin x Board Member at IMH is one of the biggest shareholders with his HF Talkot Capital at NOVC, DX and IMH. Akin COB and CEO of DX and sat on the DX Board with Barry Igdaloff the Lead Board Member per SOX at NOVC. What is the probability that Fortress does what they did at Newcastle Ing Group NCT (spun out 3 MREITs NRZ, SNR, NEWM aka GCI and then changed NCT to DS see link below presented by Wesley Edens, COB of Both Fortress and NCT to shareholders of NCT now DS, SNR, NRZ and NEWM aka GCI) at Novation Companies Inc. OTC NOVC where Fortress with Sr Debt partners own 25% of NOVC equity 31.3M NOVC shares? New MREIT by Fortress Wesley Edens, Peter Briger Co CEOs at Fortress via 31.3M 25% equity position at $NOVC Novation Companies, Inc. just like Fortress did by reorganizing Newcastle Inv Group NCT/$DS aka spun off $NRZ, $SNR, $NEWM aka $GCI The question every $NOVC Shareholder should ask Barry Igdaloff Board member at both Dynex Capital NYSE $DX and Novation Companies, Inc. OTC NOVC rose030784@cs.com and 614 939 0166 $NOVC Sr Debt has $21M FMV fair market value per Boulay Group Top 100 CPA firm NOVC audit 2019 10K, so what the hell is going on if Fortress/Softbank Wesley Edens, Peter Briger co-CEOs at Fortress ALSO own 31.3M shares of $NOVC (for over one year) at less than one cent can make Billions at NOVC equity by duplicating their proven reorganization plan at Newcastle Inv Group ex $NCT now called Drive Shack $DS http://ir.driveshack.com/Cache/IRCache/a1b2ee64-5797-45c5-953a-7aed241fbd80.PDF?O=PDF&T=&Y=&D=&FID=a1b2ee64-5797-45c5-953a-7aed241fbd80&iid=4040318 Slide 11 shows NOVC has 5 times NOLs of NCT/DS $728M vs 160M at NCT/DS> Why have the equity interest of SDH 31.3M shares (9M common + 22.250M Ten Yr Warrants at one penny = 31.3M) NOT been disclosed in NOVC 2019 10K Item 12 schedule of beneficial interest of insiders? see my past post. If the SDH aka Fortress and EJF Capital the real economic owners of NOVC Sr Debt by their ownership of CDO Service Rights on Taberna I & II (owned by Fortress) and Kodiak CDO I owned by Eden's pal Manny Friedman & Neal Wilson Co CEOs of EJFcap.com are not insiders of NOVC I will eat my hat. Why has Thomas Finke, CIO Chief Investment Officer of Barings and Mass Mutual and his designate William Bill Wallis, Director of Alternative Investments at Barings allowed Chuck Gillman, Jeff Eberwein to appoint 3 NOVC Board Members (that control 5 member board at NOVC) and not force them to comply with Sarbanes Oxley Act SOX by investing their own cash. https://www.sec.gov/news/pressrelease/2017-48.html Folks this is why SOX was enacted after the Enron scandal. The SEC did not want investors to ruse Mr. Market. See SEC judgement vs Chuck Gillman and Jeff Eberwein (who by extension/appointment are David Pointer, CEO and Lee Keddie and H Tim Eriksen). |
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