The following message was updated on 3/20/2021 12:44:07 PM.
Ask NOVC Chairman Barry Igdaloff who re-aligned Aug 2019 NOVC Sr Debt Holder interest with Common Interests
Re: Ask Barry Igdaloff who re-aligned Aug 2019 NOVC Sr Debt Holder interest with Common Interests: Why NOVC Board has failed to disclosed one thing to express this realignment. In fact NOVC continues to use Sr Debt as fodder for Going Concern and pennies per share.
NOVC 2020 10K further beats the drum that Sr Debt Holders have placed NOVC in Going Concern. Sr Debt Holders ARE NOVC COMMON HOLDERS. What kind of game is Barry Igdaloff and his co investors playing on NOVC Minority Shareholders esp while someone buys 20M shares in month when NO SHARE are outstanding, no float.
Time to rip Novation Companies, Inc. OTCBB $NOVC chairman's 'unsettling and murky' compensation of cash and RSU at pennies (est 15M RSU for himself and Chuck Gillman and 3 appointees)
Investor Village news on Novation Companies, Inc. OTCBB $NOVC
All NOVC shareholders, but especially minority NOVC shareholders outside Barry Igdaloff, Chairman huddle with Note Holders Fortress behind Taberna CDOs and EJF Capital aka Kudu aka White Mountains CDO, that their 15M RSU taken at pennies, plus cash compensation are very unsettling and murky" public information on the subject. Form 4s showing NOVC Board including the Chairman must be investigated and if they have not Sold shares in the open market but transfer to related or private parties an 8K must disclose to clarify. SEC can check this out quickly.
Barry Igdaloff Chairman of the Board and his co investors Note Holders 31M + Mass Mutual Barings Bill Wallis 19.3M, Igdaloff and his cabal mostly Thomas Akin ex Board Member with Igdaloff at DX, Todd Emoff and his bro, Howard Amster all DX investors made rich by NOVC Note Holder Fortress via Fortress 100% ownership of CMO Capstead Mortgage. Ask Thomas Potts who they ousted at DX? Now they with a few other investors, hold with 100% of 116M Common Shares Outstanding with a small shareholder count that I have and 696 Shareholders of Record page 7 of NOVC 2020 10K.
No shares of NOVC to trade yet add it up 20M shares trade off NOVC real narrative just 2/8 -3/16/21. Barry Igdaloff and his co investors above IMHO disclosure a false narrative to disadvantage investors less experienced. This requires filing 13F with SEC stating they are a controlled group. This may risk NOLs $730M or at least that portion not related to Unrealized Tax Capital Losses $250M. Also NOVC Board controlled by Barry Igdaloff and his co investors need to release their true narrative for NOVC NOLs and Cleanup Call Rights per Service Rights Transfer Agreement Sec 5.04. Please be aware CCR or rights to control rich, seasoned collateral assets are Standard Operating Practice SOP for experts like Igdaloff and his cabal; MREIT, NOL, CCR, MBS experts like Barry Igdaloff, Howard Amster, Thomas Akin, Manny Friedman Note Holder of NOVC and CEO of EJF Capital, Wesley Edens, Peter Briger Co-COB of Fortress and Michael Huang, (Quant at NRZ and Employee of Fortress). ALERT these are world class experts in NOVC CCR aka right to control collateral assets on most $3B Portfolio RMBS, Non-QM assets. Demand transparency by going straight Wesley Edens, COB of Fortress aka Taberna CDOs and Barry Igdaloff, who serve 20 yrs on DX Board & collects .13 cts per each common share he holds. They are making it look like NOVC a "Going Concern per 2020 10K filed by NOVC 3/4/21" but yet they have made fortunes in CCR collateral assets at DX, NRZ, OMF, IMH, Nationstar sold to COOP Mr. Cooper aka WAMU, to name a few. Manny Friedman is regarded by Cole Bitting ex Flagstone Sec Sr MREIT Partner as a world leading expert in MREIT, CCR. Manny Founded FBR and lead equity raises for billions in MREIT public offerings.
Do not let Igdaloff or Wes Edens, Manny Friedman, Thomas Akin, Bill Wallis of Barings aka Mass Mutual say they do not understand CCR or what to do with these collateral assets. IMHO they are concealing a plan that must look just like what they and their co investors executed at Dynex Capital NYSE DX and Drive Shack $DS split into $NRZ symbol for www.newresi.com $SNR and $GCI. Leon Cooperman ex Goldman Sachs Partner with Fortress' Peter Briger Co-COB are in many of these deals.
No Shares No news NOVC 2020 10K going concern, Form 4s misleading shareholders and 20M shares trade at pennies on NOVC from just 2/8/21 to 3/16/21.
Time to share these facts with www.otcmarkets.com and ask how can no NOVC shorted shares show outstanding? READ shorting of GME because it would not surprise if 1M of NOVC shares are held when only 94M are outstanding, (10K Balance Sheet for 2020 shows 116M shares issue and outstanding but that is dilute so 22.25M ten year warrants have to be backed out leaving only 94M. Clarity 20M shares trade of 22% of all possible shares (No Float) but www.otcshortreport.com but NOVC shares available can be adjusted further by adding up 94M held and not traded as follows. 94M-94M is ZERO
NOVC shares available are zero, NO Float on NOVC Shares 94M shares Adjusted by removing 9M common held by Note Holders Fortress and EJFcap via CDOs they hide behind Taberna and Kodiak respectively + Small Count 23M + 36M held by Gillman and Igdaloff cabals + 19.3M MassMutual and sub Barings + est 6M shares held by 696 Shareholders or Record pg 7 of 10K total 94M adjusted share held and not traded
THIS LEAVES NO FLOAT No Outstanding Common SHARES on $NOVC Novation Companies, Inc.. This shareholder believes something smells rotten in Denmark or Columbus, OH and NYC.