Friday, March 26, 2021 3:48:33 PM
The SEC sued NPHC in September of 2018. A few months before that, NPHC had announced the first of two joint ventures with the expectation that over $4M was coming in to fund product marketing as well as clinical trials. That was put on hold with the lawsuit.
Ric answered the next question in an email to me back in 2019:
In April of 2019, NPHC was ready to file their 2018 10K annual report. They had to pay their auditors and they had to pay their SEC lawyers. They made the decision to pay their SEC attorney to keep fighting the frivolous lawsuit. At that time, they became delinquent in their filings.
I applaud the effort of Management to fight the lawsuit, keep the company going (even through the last year of COVID) and even start getting current with their filings. If the SEC never filed suit - the stock would be MUCH higher, Nyloxin would be a household staple and they might have already had their MS drug licensed to a partner. The SEC has caused harm to all of us shareholders and all of the patients that might have been helped by these drugs.
My prediction - the suit gets settled soon; the company gets current; licensing and joint venture money comes in and we see real valuations based on the outstanding technology that NPHC has.
There's no way to stop the glowing future of Nutra Pharma - - no matter how some people twist the truth.
JMHO - GLTYA
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