Neuro-Hitech, Inc. (OTCMKTS: NHPI) has made another major move up after news hit on the Woodbrook Group. The press release states among other things:
“According to Doherty, Woodbrook hopes to realise a significant sum of money when its shares begin to be traded, which he noted “could” happen before the end of the year but is more likely to take place in early 2019. Press reports indicate that the Nasdaq company in question is called Neuro-HiTech Inc (NHPI), a Florida-based pharmaceutical company. Other recent acquisitions by Woodbrook, in addition to NHPI and Mutual Trust, have included a Cyprus-based wealth manager, Felicitas, in June; and Robusto Asset Management GmbH, a German asset manager, in October 2017.” Read the full press release here.
Neuro-Hitech, Inc. (OTCMKTS: NHPI) was initially formed in Nevada in 1996 and operated as Northern Way Resources until January of 2006, when it was renamed Neurotech Pharmaceuticals, Inc. and redomiciled in Delaware in February 2006. The Company was principally engaged in the business of development, marketing, sales and distribution of specialty Pharmaceuticals. NHPI has a clean balance sheet with virtually no debt. NHIP is an exciting reverse merger play that has been on the move in recent weeks; NHPI is a clean shell and Woodbrook Group Holdings Ltd. is a British Virgin Islands Corporation led by Michael Doherty who will step in as CEO.
At the end of October NHPI said in a disclosure “On October 29, 2018 we closed a share exchange agreement with Woodbrook Group Holdings Ltd. ” whereby NHPI acquires all shares of Woodbrook and Woodbrook becomes the new operating company. Michael Doherty becomes the new CEO, Senan Mc Conigle becomes the new COO, Maria Mulaf becomes the new CCO and Christina Doherty becomes the newly appointed Director of IT & Marketing.
Woodbrook is an international firm of financial consultants offering a comprehensive suite of financial services. Woodbrook is headquartered in Cyprus, with additional offices in Budapest, Hungary; Warsaw, Poland; Bucharest, Romania; Moscow, Russia; Bratislava, Slovakia; Marbella, Spain; Geneva, Switzerland; and Ho Chi Minh City, Vietnam.
According to their website “The Woodbrook Group is one of the world’s fastest-growing financial advisory firms, and 2018 was the year the company truly made its presence felt on the global stage. Set up by Irishman Michael Doherty just over five years ago, the firm is about to make a public offering on the Nasdaq Stock Market as Woodbrook’s ambitious expansion plans continue apace. Months of frenetic activity have seen the company undergo significant expansion through a series of mergers and acquisitions. The Cyprus-domiciled company is bolstering its adviser headcount to add to its existing office network in Budapest, Bucharest, Moscow, Bratislava, Marbella, Geneva, Warsaw and Ho Chi Minh City.
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Plans to set up a base in Latin America are at an advanced stage, and the company is also in talks with Dubai and Dublin-based companies with a view to expanding its European and Middle Eastern operations. The acquisition of Cyprus-based adviser Felicitas in June was the catalyst for the group’s latest expansion activity. The merger was the culmination of a seven-month process, adding £150m ($198m, €170m) in assets under Woodbrook’s management, with both firms having MiFID and insurance licenses. Behind the scenes, Doherty told IA earlier this year the company is moving all clients onto its Model Portfolio service, which has three risk baskets.
In his interview with AXF, Doherty said he believes that the growing global shift towards greater regulation, which he thinks is a good thing, will increasingly see smaller advisory firms having to become part of larger operations in order to continue to trade, as the costs of compliance grow. And he doesn’t think networks provide enough of the compliance support such businesses need. In addition to being regulated by CYSEC, Woodbrook holds a MiFID II investment license, enabling it to passport its products and services throughout the European Economic Area, as well as Insurance Mediation Directive insurance mediation licenses.
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Currently trading at a $15 million market valuation NHPI is an exciting story developing in small caps; the new company Woodbrook Group, led by entrepreneur Michael Doherty is an international firm of financial consultants offering a comprehensive suite of financial services that recently made some important acquisitions; in addition to NHPI and Mutual Trust, have included a Cyprus-based wealth manager, Felicitas, in June; and Robusto Asset Management GmbH, a German asset manager, in October 2017. NHPI is a clean shell with virtually no debt. We will be updating on NHPI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with NHPI.
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Disclosure: we hold no position in NHPI either long or short and we have not been compensated for this article.