NOVATION COMPANIES, INC.: management transactions · United States · SEC (Form 4)

About NOVATION COMPANIES, INC.

Novation Companies, Inc. (ticker NOVC) is a U.S.-based micro-cap company whose public-market profile has been shaped more by SEC filings and insider-transaction reporting than by broad operating disclosure. For investors in French-speaking Europe, the key point is that the company is a United States issuer and should be viewed as a highly speculative name rather than a typical large, diversified NYSE/NASDAQ operating company. Its corporate history is unusual and includes a legacy in healthcare services as well as an earlier mortgage/asset-backed background. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1025953/000143774920023533/novc20200930_10q.htm)) In earlier SEC filings, Novation stated that it operated through Healthcare Staffing, Inc., its wholly owned subsidiary, which provided outsourced healthcare staffing and related services in the State of Georgia. The company described its business model as serving Georgia Community Service Boards (CSBs) and other care settings such as hospitals, private group homes, clinics, rest homes, prisons, and retirement centers. That makes the company most naturally classifiable in Health & Pharma, although it is better understood as a niche staffing and services provider than as a conventional healthcare provider or pharmaceutical company. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1025953/000143774920023533/novc20200930_10q.htm)) Historically, Novation’s competitive position was tied to a geographically concentrated staffing franchise in Georgia, where it competed with both national healthcare staffing groups and smaller regional agencies. The SEC record also shows that the business has faced persistent financial stress, including liquidity pressure, a highly leveraged balance sheet, and recurring losses. In 2020–2021, filings discussed negative operating cash flow, significant liabilities, and ongoing efforts to stabilize the business and expand customer relationships within the state. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1025953/000143774920023533/novc20200930_10q.htm)) From an equity-analysis standpoint, the most relevant current signals are insider filings on Form 4, changes in beneficial ownership, and any updated SEC disclosure that clarifies whether the company has maintained meaningful operating activity. Because Novation is a small issuer with limited public-facing operating commentary, investors should rely primarily on SEC filings rather than marketing materials or market rumors. The company’s recent relevance appears to be driven more by corporate actions, ownership changes, and disclosure events than by a broad product portfolio or large-scale geographic expansion. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1025953/000143774920005915/0001437749-20-005915-index.htm?utm_source=openai))