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Filing Details

Accession Number:: 0001025953-15-000162
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2015-10-29 15:05:52
Reporting Period:: 2015-10-27

Filing Date:: 2015-10-29
Accepted Time:: 2015-10-29 15:05:52
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1025953	Novation Companies Inc.	NOVC	Real Estate Agents & Managers (For Others) (6531)	742830661

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1548312	E. Jeffrey Eberwein	53 Forest Avenue, 1St Floor Old Greenwich CT 06870		Yes	No	No	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2015-10-27	8,877	$0.30	2,852,963	No	4	P	Indirect	By Lone Star Value Investors, LP
Common Stock	Acquisiton	2015-10-27	987	$0.30	248,002	No	4	P	Indirect	By Separately Managed Account

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	By Lone Star Value Investors, LP
No	4	P	Indirect	By Separately Managed Account

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	192,308	Direct

Footnotes

The purchases of shares reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan entered into by Lone Star Value Management, LLC on behalf of Lone Star Value Investors, LP and similarly managed funds and accounts on May 13, 2015.
The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.2989 to $0.2990. The reporting person undertakes to provide the Securities and Exchange Commission, upon request, further information regarding the number of shares purchased at each separate price such shares were purchased.
Shares owned directly by Lone Star Value Investors, LP ("Lone Star Value Investors"). Mr. Eberwein, solely by virtue of his position as the manager of Lone Star Value Investors GP, LLC, the general partner of Lone Star Value Investors, and as the sole member of Lone Star Value Management, LLC ("Lone Star Value Management"), the investment manager of Lone Star Value Investors, may be deemed to beneficially own the shares owned directly by Lone Star Value Investors for purposes of Section 16. Mr. Eberwein expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
Shares held in an account separately managed by Lone Star Value Management (the "Separately Managed Account I"). Lone Star Value Management, as the investment manager of the Separately Managed Account I, may be deemed to beneficially own the shares of Common Stock held in the Separately Managed Account I; and Jeffrey Eberwein, as the sole member of Lone Star Value Management may be deemed to beneficially own the shares of Common Stock held in the Separately Managed Account I for purposes of Section 16. Mr. Eberwein expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. The reporting person undertakes to provide the Securities and Exchange Commission, upon request, the underlying identity of the separately managed account.
Represents restricted stock awarded under the Novation Companies, Inc. 2015 Incentive Stock Plan. These restricted stock awards shall vest on August 10, 2016.