To be clear Aug 2019 NOVC Board led Barry Igdaloff Chairman gave his past Co Investor from DX aka Fortress, NOVC largest Note Holder behind CDOs Taberna I & II 2.3rd or most of 31.3M NOVC Commons Shares outright see exhibit below. Further this exhibit below the First Amendment to Secured Sr Notes was also given 50% of NOVC Excess Cash Flow.
It this a breach of NOVC Board Members fiduciary duty to NOVC Shareholders? Is it incompetence or is it an inside job. I can say with conviction the windfall NOVC Board has given Note Holders since Ch 11 ($11M cash plus 31.3M common shares does not promote independence between NOVC Board and Note Holders as they are the one and the same.
Barry Igdaloff/his HF Rose Capital Mgt and his cabal mostly DX investors & cabals of Chuck Gillman, Jeff Eberwein, Whitney Tilson, along with my small shareholder count hold at least 68M NOVC Common + Note Holders 31.3M shares and MassMutual and Barings 19.3M shares adds up to 118M shares held not traded as compared to 116M Common Shares outstanding Dilute per SEC filed 2020 10K for NOVC. No float, no news, 10K with a going concern, Board members filing Form 4 suggesting they are selling at rock bottom it all adds up to a false narrative or fraud while someone has bought 57M shares since 4.2.2020 and 30M shares since holidays at pennies.