Nutra Pharma Corp (NPHC)

[I-Glow]

The SEC lawsuit didn't have anything to do with the JVs not coming to fruition.

"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."

From the lawsuit:

"By May 2017, Nutra Pharma had still not distributed any of its products in Canada.
B. The June 23, 2015 Press Release and August 2015 10-Q
127. Nutra Pharma purportedly had a third party produce Nyloxin before 2014 and Pet
Pain-Away before 2015.
128. In approximately February 2015, Deitsch purportedly sent a trial shipment of
Nyloxin on Nutra Pharma’s behalf to a “middleman” in India in an effort to reach a Nyloxin distribution deal in India.
129. Despite the purported trial shipment, Nutra Pharma never actually distributed
Nyloxin in India, as Deitsch knew.
130. On May 1, 2015, Deitsch sent a letter on Nutra Pharma’s behalf to a Canadian
company to provide Nutra Pharma’s “official authorization for [the] company to represent Nutra
Pharma and Nutra Pharma’s products in The People’s Republic of China as Nutra Pharma’s
Designated Representative” (emphasis in original).
131. Deitsch’s letter provided the company with authorization to “identify[ ] a Chinese
company (or companies) with the capabilities needed to obtain government regulatory approval for
our products and eventual distribution of our Nyloxin product line in The People’s Republic of
China.”
132. The letter further stated: “You are free to show this Authorization Letter to any
governmental agency or company as you work to identify a short list of the companies that you
recommend for consideration.”
133. Despite the letter, Nutra Pharma never actually distributed Nyloxin in China, as
Deitsch knew."

Everyone should read the SEC complaint against Deitsch.

IG