Nutra Pharma Provides Business and Compliance Updates
Nutra Pharma is providing updates regarding their business plans, accounting and compliance.
July 26, 2021 -- Plantation, Florida -- Nutra Pharma Corporation (OTC: NPHC), a biotechnology company marketing Nyloxin®, Pet Pain-Away™, Luxury Feet™ and Equine Pain-Away™ in the over-the-counter (OTC) pain management market and which is also developing treatments for Multiple Sclerosis (MS), Human Immunodeficiency Virus (HIV) and Pain, provided updates today on their plans and progress on improving Company transparency and public company compliance.
“As we originally announced in late 2020, as a consequence of a variety of issues as well as the fallout from the COVID-19 crisis; Nutra Pharma has been delinquent in the filing of our public company reports and financials,” commented Rik J Deitsch, Chief Executive Officer of Nutra Pharma Corporation. “We believe that information and transparency is in the best interest of the Company, our stakeholders and the investing public,” he continued. “We have been working diligently throughout 2021 and have filed six of our delinquent reports since February. As we work through the current issues, build sales and pursue our overall business plan; we are committed to working with our professionals to bring our company current with our reporting requirements. In an effort to expedite the process, we recently announced that our auditors have added five staff members and have begun concurrent reviews of the remaining reports. We believe that in order to grow as a public company we must have a commitment to getting back to current status, as a fully-reporting OTC company,” he concluded.
Earlier this year, the Company announced its plans to increase brand awareness, online visibility and product messaging. This included the engagement of professional marketing teams as well as internet influencers to support product outreach. Nutra Pharma also announced improvements in their laboratory and manufacturing space, launching private label brands, hiring additional quality personnel, engaging new intellectual property attorneys, filing new patents and trademarks as well as engaging government consultants to aid in garnering potential grants, earning government contracts and increasing retail awareness.
As Nutra Pharma moves forward with these projects, they will provide further updates throughout the rest of 2021.
About Nutra Pharma Corp.
Nutra Pharma Corporation operates as a biotechnology company specializing in the acquisition, licensing, and commercialization of pharmaceutical products and technologies for the management of neurological disorders, cancer, autoimmune, and infectious diseases, including Multiple Sclerosis (MS), Human Immunodeficiency Virus (HIV) and Pain. Additionally, the Company markets drug products for sale for the treatment of pain under the brand Nyloxin®, Luxury Feet™, Equine Pain-Away™ and Pet Pain-Away™. For additional information about Nutra Pharma, visit:
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in Nutra Pharma's ("the Company") business plan. The business update should not be construed as an indication in any way whatsoever of the future value of the Company’s common stock or its financial value. The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
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