Novus Acquisition & Development Corp. (OTC: NDEV), operating through its wholly owned subsidiary WCIG Insurance Services, Inc. as Novus Cannabis MedPlan, released interim financial results for the nine-month period ending September 30, 2026, showing steady revenue growth and a disciplined capital structure. The company reported a 7.78% year-over-year increase in gross revenue, a 2.34% year-to-date expansion in total assets, and a 2.26% rise in stockholders’ equity. Notably, Novus maintained a debt-to-equity ratio of 9.74% and held zero convertible debt, underscoring a highly unleveraged balance sheet that limits financial risk.
These results matter because they demonstrate the viability of Novus’s non-plant-touching business model, which derives all revenue from member plan fees and insurance premiums rather than the direct sale of controlled substances. This structure allows the company to avoid the heavy tax burdens of Internal Revenue Code Section 280E and operate independently of federal cannabis scheduling delays. For investors, the company’s governance practices are equally significant: zero insider share liquidation over the trailing 36-month period and a 100% active Vendor Share Leak-Out Provision aimed at mitigating market dilution. Such measures could enhance shareholder confidence in a sector often criticized for weak corporate governance.
The announcement also highlighted the expansion of Novus’s provider network, a critical driver for capturing the estimated 65 million Americans who may turn to medical marijuana as an alternative healthcare option. Novus Cannabis MedPlan has onboarded a new commercial provider, Upscale (www.shopupscalecbd.com), which offers institutional-grade, broad-spectrum, THC-free formulations manufactured in an NSF GMP-compliant facility in Phoenix, Arizona. The brand’s portfolio carries the NSF Certified for Sport designation, a credential that supports compliance frameworks and facilitates strategic alignment within high-performance and regulated athletic environments. This addition is important because it helps NDEV expand its corporate distribution channels while maintaining disciplined risk management protocols, potentially opening doors to employer-sponsored health plans and athletic organizations.
From a consumer perspective, Novus emphasizes cost efficiency. Members receive a 35% to 40% discount on verified medicinal cannabis products at the point of sale, and by using Health Savings Accounts (HSA) or Flexible Spending Accounts (FSA), they can pay with pre-tax dollars, corresponding to an estimated 15% to 17% reduction in effective tax liability. Combined, the company reports a net 25% to 30% reduction in overall out-of-pocket expenditures. This pricing strategy could make medical cannabis more accessible and position insurance-based models as a competitive alternative to retail purchases.
For comprehensive financial statements and management discussion, Novus directs investors to its investor relations portal. Additional filings are available via the OTC Markets filings page. The company’s ability to sustain margin stability while expanding its network will be a key indicator of whether its insurance-first approach can scale in a rapidly evolving regulatory landscape.
