Press Release
Novus Reports Q1 Results And Key Success Factors Following DEA Rescheduling
–News Direct–
Miami, Florida – (ThriveNewsWire) – Novus Acquisition & Development Corp d/b/a Novus Cannabis MedPlan (OTC Markets: (NDEV) is a leading national supplemental health insurance carrier and pioneer in offering cannabis in health plans for recreational and medicinal users. It released its update on its Q1 2024 results, Rx Dispensing Platform, and Key Elements that fuel its success after the Drug Enforcement Agency (DEA) announced that cannabis will be rescheduled.
Novus Cannabis MedPlan (Novus) has been integrating cannabis into health plans since 2015. With a network of over 1,200 agents, brokers, and dispensaries, Novus aims to make cannabis-based treatments more affordable and accessible through insurance plans, benefitting a wider range of consumers.
Here are three key highlights that contribute to Novus' success.
1) Financial Snapshot:
The company utilizes a receivable-based business model with minimal overhead and no convertible debt, demonstrating consistent organic growth year over year.
No Dilution: No common stock has been issued after June 15, 2021.
No Sales of Insider Shares: For close to 3 years
Gross Revenue Increase: During this reporting period, Gross Revenue increased by 6.8% compared to March 31, 2024 and 2023, respectively,
Net Revenue Increase: During this reporting period, EBITDA increased by 19.47% compared to March 31, 2024, and 2023.
Profit Margin: During the reporting period, the company experienced a gradual increase in gross profit margins, with margins of 43.14% in 2023 and 45.2% in 2024
Cash and Cash Equivalents: There was an increase of 1.8% compared to the financial reporting periods on March 31, 2024, and December 31, 2023. This is in contrast to the higher increase of 6.84% in the period from March 31, 2023, to 2024.
Debt Transparency: Frank Labrozzi, the CEO, is owed $158,061. He has no plans to exercise the call provision, and this debt instrument has no equity conversion provision.
Leak Out Vendor Shares: All vendors who received treasury-issued stock must gradually sell their shares. The selling amount is determined based on 15% of the average daily trading volume over the past 30 days.
2) Introducing the Rx Dispensing Platform
Novus is strategically positioning its cannabis health plans to become a prominent player in mainstream healthcare insurance by acquiring an Rx Dispensing Platform tech stack. Frank Labrozzi, CEO of Novus, stated, "This advancement will significantly impact cannabis in health plans. By promoting collaboration between brands and dispensaries, we aim to empower policyholders with more choices, enabling them to purchase the brands they prefer at any dispensary.
Cannabis brands can use the platform to connect directly with dispensaries and showcase their products at no cost. This will improve product distribution efficiency, increase brand visibility, provide real-time inventory data, and facilitate product research for the policyholder.
An added bonus to For Rec Users: This platform serves recreational users who prefer not to disclose personal information like their policyholder status to access plan benefits. Instead, users can discreetly order services for a small subscription or transaction fee.
3) Key Success Factors
Midwest Expansion: Novus has partnered with Heya Wellness, a prominent cannabis company in Missouri, to offer MedPlans to 4.3 million potential policyholders in the Midwest. By leveraging Missouri's favorable reciprocity laws, Novus aims to maximize the benefits for our sales hub based in St. Louis.
Health Carrier Alliances Integration with Traditional Healthcare:
By treating cannabis as a traditional pharmaceutical product and including it in insurance plans, Novus could help normalize cannabis use for medical, recreational, and non-users. Now that there is federal approval, Novus bridges traditional healthcare and the cannabis industry, enhancing major healthcare carriers who have expressed interest in integrating Novus' cannabis-based prescription plans into their benefits packages, establishing a connection between the two industries.
Compassionate Care Act (CCA): The CCAs, which the Supreme Court sanctions, typically focus on making medical marijuana accessible to workplace patients with specific conditions. Human Resources departments are revising workplace policies to allow employees to access medical marijuana through employer-sponsored health plans. Novus plans to cover some costs through tax-deductible health savings and health reimbursement accounts.
Opioid Settlement Framework:
The opioid settlement framework is a legal agreement aimed at resolving litigation against pharmaceutical companies and health carriers accused of contributing to the opioid crisis. It includes $50 billion for prevention, treatment, and recovery programs with the goal of mitigating the crisis' impact and preventing future misuse. Novus is playing a crucial role in reducing opioid use by offering states and private organizations alternative treatment options through our developed health plans that help patients transition from opioids to medical cannabis.
Compliance with the Veterans Affairs (VA): Veterans are increasingly interested in utilizing cannabis for treatmentover 88% support medical cannabis programs. Novus has developed health plans following VA guidelines to integrate cannabis benefits for veterans.
In closing: As Novus adjusts to the positive changes in federal cannabis regulation, we are prepared to utilize our niche approach to cannabis in health plans, which utilizes a receivables-based business model. This approach strategically enables us to organically invest in critical areas such as marketing, improving engagement with policyholders and providers, and establishing a reliable cash flow management system. This positions Novus as a significant player in the fast-evolving cannabis integrated into health insurance plans. Do your research on our company to understand our potential in shaping the future of healthcare. Visit our Investor Relations page to see for yourself.
About Novus
Further Research:
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Novus Acquisition & Development Corp. (NDEV) operates through its subsidiary, WCIG Insurance Services, Inc., offering health insurance and related insurance solutions in states with legal medical marijuana programs. With a robust infrastructure covering various insurance lines, including health, life, and fixed annuities, Novus is a leading health insurance carrier, using two key indicators to gauge value and performance.
The Benefit Monetization Ratio measures the annual total of monetized policies, offset by the operating cost ratio, a Balance Sheet line item derived from Net Asset Value and calculated to the Price Book Value.
Novus' medical cannabis benefits package operates as an outside developer. It does not engage in any activities related to the cultivation, handling, transportation, growth, extraction, dispensing, sale, marketing, vending, delivery, supply, circulation, or trade of cannabis or any substances violating United States law or the Controlled Substances Act. The company adheres strictly to state and federal laws and has no intentions to violate them in the future.
It is important to note that statements regarding specific products have not been evaluated by the United States Food and Drug Administration (FDA) and should not be interpreted as intended to diagnose, treat, cure, or prevent disease. The information provided in press releases and product labels is for informational purposes only and should not be considered a substitute for advice from qualified healthcare professionals.
Novus respects the individual transactions involving cannabis, which are solely between state-licensed dispensaries and registered patients. However, it's worth noting that state laws may conflict with the federal Controlled Substances Act. The current administration has indicated that federal law enforcement agencies will not prioritize prosecuting those complying with state-designated laws concerning medical marijuana usage and distribution. Nevertheless, changes in government policies and consolidation could impact the provider network, and there is no assurance that future administrations will not alter this stance.
While Novus does not engage in the harvest, distribution, or sale of cannabis or cannabis-related products, the company could be affected if there were any shifts in enforcement by federal or state governments concerning existing laws. Such changes could result in significant financial implications for Novus and other industry players.
Forward-Looking Statements
This release includes forward-looking statements, which are based on certain assumptions and reflect management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. Dilution, if any, would be for the purposes of management taking stock in lieu of cash salary. Novus disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, this press release that is not statements of historical fact may be considered to be forward-looking statements. Written words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future.
Investor Contact Information
855-228-7355
Email: pr@getnovusnow.com
Contact Details
Novus Acquisition
Frank Labrozzi
+1 305-467-6699
Company Website
View source version on newsdirect.com: https://newsdirect.com/news/novus-reports-q1-results-and-key-success-factors-following-dea-rescheduling-714937832
Novus Acquisition & Development Corp
COMTEX_453333339/2655/2024-06-04T08:05:52
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
From Early Hardship to Building a $35.8M Portfolio: Don Kilam Shares the Business Philosophy Behind His Entrepreneurial Journey
Don Kilam reflects on the experiences, business principles, and organizational strategies that contributed to the growth of Kilam International while expanding educational resources for entrepreneurs.
Las Vegas, Nevada, United States – Every entrepreneurial journey begins with a defining moment. For Don Kilam, founder of Kilam International, that moment emerged from overcoming significant personal and financial challenges that ultimately reshaped his perspective on business ownership, organizational planning, and long-term enterprise development.
From navigating periods of financial hardship and homelessness to building a business portfolio valued at approximately $35.8 million, Kilam’s story reflects years of entrepreneurship, strategic planning, and continuous learning. Rather than describing his experience as a universal roadmap to success, Kilam says his journey demonstrates the importance of understanding how businesses are organized, managed, and developed over time.
According to Kilam, one of the most significant lessons he learned was the value of treating business activities with the same discipline and structure expected of established organizations. That philosophy has since become a central theme of the educational resources developed through Kilam International, where entrepreneurs are encouraged to learn about business organization, operational planning, and responsible financial management.
A Journey That Changed His Perspective
Before establishing his current business portfolio, Kilam faced numerous personal and financial obstacles that shaped his approach to entrepreneurship. Those experiences motivated him to better understand how businesses operate, how organizations are structured, and how long-term planning can contribute to sustainable business growth.
“Building a business changed the way I viewed entrepreneurship,” said Kilam. “I came to appreciate the importance of organization, planning, accountability, and understanding how businesses function. Those experiences continue to influence the educational work we do today.”
Kilam explains that many entrepreneurs focus primarily on generating revenue, while often overlooking the importance of building a solid operational foundation. His experience led him to place greater emphasis on business structure, documentation, financial organization, and strategic planning as part of managing a growing enterprise.
Business Practices That Supported Growth
Throughout the development of Kilam International, Kilam adopted a number of business practices that he believes contributed to the company’s evolution.
One area of focus involved operating through formal business entities, including limited liability companies (LLCs) and trust structures where appropriate. According to Kilam, these organizational decisions were made as part of broader business planning and in consultation with professional advisors based on the company’s operational needs.
The company also invested in maintaining organized accounting systems and business banking practices to support financial management and administrative oversight. Kilam says accurate financial records and consistent operational procedures became increasingly important as business activities expanded.
As the company grew, Kilam explored a variety of business financing opportunities to support expansion initiatives. He notes that financing decisions were evaluated based on business objectives and available opportunities, while emphasizing that funding options vary significantly depending on the nature of each business and should always be assessed with appropriate professional guidance.
Kilam International also continued to explore business development opportunities through strategic partnerships, private business initiatives, and educational programs. These activities contributed to the company’s broader focus on entrepreneurship, business education, and organizational growth.
In addition, the company diversified its business interests across multiple sectors, including real estate, digital education, and online business communities. Kilam says diversification formed part of the company’s long-term business strategy and reflected its commitment to developing multiple areas of enterprise activity rather than relying on a single business segment.
Expanding Entrepreneurial Education
Drawing from these experiences, Kilam International has expanded its educational initiatives to help entrepreneurs better understand business organization, operational planning, accounting practices, and enterprise management.
The company’s educational resources discuss topics including business entity selection, organizational planning, financial recordkeeping, responsible business administration, and long-term operational development. Kilam emphasizes that these materials are intended to encourage informed decision-making and should not be interpreted as legal, tax, investment, or financial advice.
“Our goal is to encourage entrepreneurs to think beyond the initial stages of launching a business,” Kilam said. “Building a sustainable organization requires continuous learning, responsible planning, and a willingness to adapt as opportunities and challenges evolve.”
Through its online community and digital educational platforms, Kilam International continues to publish content designed to help entrepreneurs better understand the operational aspects of running a business. The company says future educational initiatives will continue to focus on entrepreneurship, organizational development, and business management while encouraging individuals to seek qualified professional advice for decisions involving legal, financial, or tax matters.
While every entrepreneurial journey is unique, Kilam believes that education, planning, and responsible business practices remain valuable components of long-term enterprise development. His story—from overcoming hardship to building a diversified business portfolio—serves as the foundation for Kilam International’s ongoing commitment to supporting entrepreneurship through education rather than promises of financial outcomes.
Contact Info:
Name: JEFFERY MCBRIDE JR
Email: Send Email
Organization: KILAM INTERNATIONAL
Address: 8565 S EASTERN AVE , SUITE 150, LAS VEGAS, NEVADA, United States
Phone: 702-200-4900
Website: https://www.donkilam.com/
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Rasmala Global Sukuk Fund Named Winner of Two 2026 LSEG Lipper Fund Awards for Best Fund over 10 Years
Dubai, United Arab Emirates, August 3rd, 2026, FinanceWire
Independent recognition of a decade of consistent, risk-adjusted performance
The Rasmala Global Sukuk Fund was recognised with the 2026 LSEG Lipper Fund Awards for Best Fund over 10 Years in the Bond Sukuk Global USD classification, winning across two award universes: Global Islamic and MENA Markets.
The LSEG Lipper Fund Awards have, for more than three decades, recognised funds that have delivered consistently strong risk-adjusted performance relative to their peers. Winners are determined using LSEG Lipper’s independent, proprietary quantitative methodology, based on the Lipper Leader rating for Consistent Return over three-, five-, and ten-year periods.
The Rasmala Global Sukuk Fund is a UCITS sub-fund of an open-ended, Luxembourg-incorporated umbrella investment company. One of the longest-running global sukuk funds of its kind, the Fund invests in a diversified portfolio of Shariah-compliant assets, comprising primarily investment-grade sovereign, government-related and corporate sukuk, without reference to any specific benchmark. The Fund is dynamically managed and targets both income and capital appreciation, with a monthly distribution of dividends, and has navigated multiple market cycles within a risk-managed framework.
The awards come at a period of heightened volatility for global fixed income. Fitch Ratings has noted that the sukuk market’s recovery in 2026 hinges on sustained regional stability, with issuance expected to remain below 2025 levels amid ongoing geopolitical uncertainty.¹ Against this backdrop, an independent award recognising consistent, risk-adjusted performance over a full decade underscores the value of an actively managed, disciplined approach through changing market cycles.
“We’re proud to see the Rasmala Global Sukuk Fund recognised among the best over ten years. In a market that continues to test investors, an independent award for consistent, risk-adjusted performance over a full decade speaks to the strength of our active management and the trust our investors place in us. It reflects the disciplined, long-term approach that defines how we manage capital at Rasmala,” said Eric Swats, Senior Executive Officer, Rasmala Investment Bank Limited.
About Rasmala Investment Bank Limited
Rasmala Investment Bank Limited (“Rasmala”) is an independent alternative investment manager serving Gulf-based investors including pension funds, family offices, corporates, endowments, and financial institutions. The firm is located in the DIFC, Dubai, UAE, and regulated by the Dubai Financial Services Authority (DFSA). It is a wholly owned subsidiary of Rasmala Investment Holdings (DIFC) Limited (“Rasmala Holdings”). For more information, visit www.rasmala.com.
¹ Market context sourced from publicly available third-party commentary: Fitch Ratings, “Global Sukuk Issuance Recovery Hinges on Regional Stability” (Non-Rating Action Commentary), 8 July 2026, fitchratings.com/research/non-bank-financial-institutions/global-sukuk-issuance-recovery-hinges-on-regional-stability-08-07-2026. Provided for context only.
Important information/disclaimer
For Professional Client only. This document constitutes a financial promotion and is directed only at persons who meet the DFSA’s definition of a Professional Client and must not be relied upon by any other person. It does not constitute an offer, solicitation or investment advice. Past or projected performance is not necessarily a reliable indicator of future results; the value of investments can fall as well as rise, and investors may not recover the full amount invested. RIBL is authorised by the DFSA to operate an Islamic Window and has appointed a Sharia Supervisory Board that reviews and approves its Islamic Finance products. The LSEG Lipper Fund Awards is awarded by LSEG Lipper based on its independent quantitative methodology; details are available at lipperfundawards.com. Prospective investors should read the Fund’s prospectus and KIID/PRIIPs-KID and seek independent advice before investing. The awards referred to herein should not be construed as a recommendation to purchase or invest in the Fund and does not guarantee future performance. Nothing in this communication excludes or limits any duty or liability owed by Rasmala Investment Bank Limited under applicable DIFC laws or the DFSA Rulebook.
Contact
Tim Hydari
Senior Executive, Branding & Investor Communications
Rasmala Investment Bank Limited
media@rasmala.com
+971 4 424 2700
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Dubai, UAE, August 1st, 2026, FinanceWire
Fintech Pioneer Fuses Blockchain and Dedicated Content Delivery Network to Replace Broken 48-Hour Legacy Banking Rails with Instant, Ultra-Low-Fee Transactions
TaqFlow, a next-generation cross-border payment platform engineered specifically for Central Asian corridors, announced its official emergence from stealth mode and the public launch of pre-orders for its high-speed financial network. The platform solves the region’s most critical commercial pain points: slow settlement times, high transaction fees, and crippling currency volatility.
Unlike traditional financial institutions, the team behind TaqFlow is comprised entirely of digital nomads who have spent years traveling, living, and operating businesses across different countries. Having managed international operations on the move, the founders intimately understand the severe friction, predatory fees, and operational bottlenecks tied to cross-border capital movement.
“The spark for TaqFlow happened on a beach in Bali, of all places,” said co-founder Giorgi Beridze. “I was speaking with one of my eventual co-founders, who was venting about the sheer frustration of moving money between Georgia and Kazakhstan. The transaction took over two days to clear. In that short window, currency fluctuations ate away at the capital, costing him the equivalent of several hundred euros. It was a lightbulb moment for both of us. As nomads, we knew this pain intimately. We realized that the existing cross-border rails in Central Asia were fundamentally broken—exposed to systemic delays, unpredictable volatility, and unnecessary costs.”
TaqFlow eliminates these systemic bottlenecks by introducing a proprietary, dual-layer architecture built entirely from scratch. The platform is harnessing the innate speed and cryptographic security of the blockchain, layering it beneath a custom-built, dedicated content delivery network (CDN). This physical infrastructure will bypass standard public internet latency, allowing TaqFlow to route, read, and settle B2B transactions in mere seconds at a fraction of standard banking fees.
The rapid velocity of the platform removes the financial limbo that historically stifled trade along the historic Silk Road corridors, which inspired the company’s name. A “Taq” was the historic domed archway where ancient global merchants gathered to exchange currency; TaqFlow has modernized this concept into a digital gateway.
“As a young startup, our greatest asset is that we aren’t saddled by legacy systems or yesterday’s way of thinking,” a co-founder continued. “Traditional institutions are trapped inside layers of obsolete technical debt. This blank slate allows us to build cleaner, operate with zero friction, and pass those massive cost savings directly to our customers. We are already looking at how we can incorporate AI natively into our infrastructure to push processing speeds even higher and completely transform the cross-border customer experience.”
The launch arrives at a pivotal moment. Institutional investors from Europe, the Americas, and the Gulf region are increasingly turning their attention toward Central Asia’s rapidly growing economic landscape. TaqFlow aims to act as the primary financial bedrock that enables this influx of global capital to reach local markets seamlessly.
“The Central Asian economy has been overlooked for far too long,” co-founder Logan Jenkins noted. “When we look back five years from now, our greatest legacy won’t just be the volume of capital we processed; it will be the community of small businesses and startups we lifted up. We want to be the foundation that helps young enterprises get off the ground, seamlessly scale across borders, protect their hard-earned margins, and grow at velocities they never thought possible.”
TaqFlow is now accepting pre-orders from businesses and corporate partners across authorized Central Asian corridors. Enterprises looking to optimize their cross-border liquidity and eliminate transaction delays can learn more or request platform access by visiting TaqFlow’s launch page.
About TaqFlow
TaqFlow is a modern cross-border payment platform dedicated to unlocking the economic potential of Central Asia. Founded by a team of global digital nomads and fintech innovators, TaqFlow bridges ancient regional trading heritage with modern decentralized technology. By fusing blockchain tech with an ultra-low-latency dedicated network, the platform provides businesses with a fast, secure, and highly automated digital gateway to move capital across borders seamlessly, stripping out the delays and predatory fees of legacy banking rails.
Contact
Marketing & Media Relations
Aditi Gupta
TaqFlow
sales@taqflow.io
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
From Early Hardship to Building a $35.8M Portfolio: Don Kilam Shares the Business Philosophy Behind His Entrepreneurial Journey
Rasmala Global Sukuk Fund Named Winner of Two 2026 LSEG Lipper Fund Awards for Best Fund over 10 Years
TaqFlow Emerges to Overhaul Central Asian Cross-Border Payments
Benzinga Money Article Discusses How to Become Part of the 12% of Retirees Who Have Achieved the Recommended $550,000 Minimum Retirement Savings Threshold
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