IGR & The Ophir Collection

The Ophir Collection: $60 Million Dollar Bargain, or $3.2 Billion Dollar Scam?

By IGR
Jeffery Bergman

Featuring 9 Guinness World Records holders in this 43 gemstone collection appraised at a whopping $3.2 Billion, Forbes magazine says of the Ophir Collection «The Mischief Around It Is Priceless». It was recently announced that healthcare services provider Novo Integrated Sciences, Inc. (NASDAQ: NVOS) purchased the Ophir Collection for a mere $60 Million. Tied up in a court case for several years, one would logically ask why a healthcare provider would be acquiring it, and for less than one fifth of 1% of its “appraised” value?

Robert Mattacchione, Novo’s CEO and Chairman of the Board, made the following rambling, nonsensical word salad statement: «The magnitude of the world-famous Ophir Collection is expected to optimize the company’s monetization opportunity resulting in a significant cash surplus position while providing the company with both debt retirement and growth initiative solutions. Securing the financing required for the execution of this transaction has been a significant undertaking and we look forward to calling the collection ours».

So, let me get this straight. Novo has arranged financing to acquire the Ophir Collection which will result in a cash surplus and debt retirement. So, exactly how will borrowing $60 Million result in a cash surplus and debt retirement?

To read more… follow the link.

Jeffrey Bergman’s full feature on the Ophir Collection is now available online,
courtesy of IGR at Rivista Italiana di Gemmologia here!