Nutra Pharma Corp (NPHC)

[I-Glow]

Now that is funny -

Did you miss this part?

"Pursuant to our settlement with the SEC, I have tendered my resignation as Chairman and CEO of Nutra Pharma Corp effective March 19th,” stated Rik J Deitsch. “The Company’s former CEO, Dr. Michael Flax, will resume this position effective immediately and also serve as Nutra Pharma’s Chairman and CFO,” he continued."

So the SEC forced Deitsch out as CEO and Chairman - yeah a real nothing burger.

"Permanently enjoin Defendant Deitsch from committing violations of the federal securities laws that the SEC has alleged in this case, including violations of Sections 5(a), 5(c), and 17(a) of the Securities Act, Sections 9(a)(2), 10(b), 13(a), 13(d), and 16(d) of the Securities Exchange Act, and Rules 10b-5, 13a-14, 13d-2, and 16a-3 thereunder; impose a three-year officer-and-director bar on Deitsch, pursuant to 15 U.S.C. §§ 77t(e) and 78u(d)(2); and impose a three-year penny-stock bar on Deitsch, pursuant to 15 U.S.C. § 78u(d)(6)"

From the 8-K:

"Resignation of Rik J. Deitsch as our Chief Executive Officer, Director, Chairman of the Board, and Chief Financial Officer

As a result of the Company’s and Mr. Deitsch’s respective settlements with the Securities and Exchange Commission (the “SEC” or “Commission”) as further discussed below under Item 8.01, on March 19, 2024, Mr. Deitsch submitted a letter of resignation to our Board of Directors and thereby resigned as Chief Executive Officer, Director, Chairman of the Board, and Chief Financial Officer of Nutra Pharma Corp., effective immediately. Following his resignation as an officer and director of the Company, Mr. Deitsch will continue to work for the Company in a new role as the Company’s Operations Manager. Mr. Deitsch was appointed as the Company’s Operations Manager by our Board of Directors effective March 19, 2024."

"Rik J. Deitsch has stepped down from his roles as CEO, Director, Chairman of the Board, and CFO following settlements with the SEC, which arose from allegations of federal securities law violations by Nutra Pharma Corp., Deitsch, and Sean McManus. The settlements, approved by the U.S. District Court, involve partial consent judgments that resolve liability issues but leave open questions about financial penalties and the specifics of a penny stock bar against McManus. Deitsch faces a three-year bar from officer and director roles and penny-stock offerings, while McManus is permanently enjoined from violating federal securities laws."

IG