Novation Holdings, Inc. (OTC: NOHO), has been gaining renewed traction among investors as the company begins the process of finding a merger candidate. After investing the time and money of becoming pink current after four years of inactivity, NOHO has emerged as a “multi-strategy holding company focused on identifying, developing, acquiring, and bringing to market technologies and solutions across all market sectors”. While the stock has very low volume, the PPS has increased 62% since October 8th and appears to be following an upwards trajectory showing great progress since our last article on NOHO.
Now that NOHO has become pink current after falling into inactivity in 2018, the company is conducting a two year audit of its financial statements in order to uplist to the OTCQB. NOHO’s CEO Michael Gelmon shared that “listing on the OTCQB will vastly improve our liquidity potential by greatly expanding the universe of our potential investors”. With this in mind, NOHO has retained Carren Currier – known as the OTC’s merger guru – as a consultant to help them with the audit, uplisting plans, and finding a suitable merger candidate.
One of NOHO’s clearest assets is its CEO Mechael Gelmon. His experience with publicly traded companies and turn arounds for various public and private companies will help NOHO in the process of finding a merger candidate. Over the course of his work, Gelmon has also assisted investment groups in structuring and restructuring companies’ debt as well as conducting due diligence on target companies.
In anticipation of its new business direction NOHO has launched a website to help pursue its mission of “identifying, developing, acquiring and bringing to market technologies and solutions across all market sectors”. Bullish investors are particularly excited as the company “researches” new investment opportunities because NOHO has been dormant for the past 4 years and there is little information about its upcoming plans. However, NOHO has been clear that is principal business objective is “either investing into and starting up new business opportunities or acquiring all or part of an existing business” for the purpose of strengthening shareholder value. In light of this mission, investors are eagerly waiting for merger news.
But it’s worth noting the difference between Novation Holdings Inc. (NOHO) and Noho Inc. (OTC: DRNK). Not to be confused with each other, Noho Inc. manufactures and sells energy drinks that combat the effects of hangovers, fatigues, and jet lag.
@greatstockpicks and @paulseo403 seem to know what’s up with NOHO…
NOHO stock is currently trading at $.0014. Its primary support line formed at .0012 with a secondary support at .001 and a resistance level at .0015. Accumulation has been building for some time and is still trending upwards. Its RSI is at 67.05 and the MACD recently had a bullish crossover and is continuing to climb on the upside.
Should You Buy?
At the moment, there’s little information about NOHO’s new direction. But given its management, plans to join the OTCQB, and merger potential, this stock may be worth a second look. While this stock has very low volume at the moment, if momentum picks up on merger news the NOHO stock may spike past its resistance at .0016. In February NOHO stock skyrocketed to But as is, NOHO has a market cap of $14.8 million and 15 billion authorized shares of this 12.3 billion are outstanding.
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