Nutra Pharma Corp (NPHC)

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$NPHC Nutra Pharma Provides Business and Compliance Updates

https://www.nutrapharma.com/single-post/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.