Plantation, Florida--(Newsfile Corp. - January 12, 2021) - Nutra Pharma Corporation (OTC Pink: NPHC), a biotechnology company marketing Nyloxin®, Pet Pain-Away 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, announced today that the Company's Chief Executive Officer, Rik J Deitsch, has published a Letter to Shareholders on the Company's website.
"The last year was a challenging one for all businesses but was certainly a very busy year at Nutra Pharma," explained Rik J Deitsch, Chairman and CEO of Nutra Pharma Corporation. "Regardless of the global pandemic and economic downturn, Nutra Pharma was able to create new opportunities for our products and technologies. This has provided a strong platform for real growth in 2021," he continued. "I wanted to take this opportunity to update our shareholders and the public on the accomplishments of the last year, the status of the Company and briefly outline our goals and expectations for the coming months," he concluded.
The letter includes some of the following accomplishments made by the Company over the past year:
- We announced that Dr. Dale VanderPutten, our CSO, presented a Tech Watch talk to an audience of military and civilian experts in chem/bio defense by invitation of the Defense Threat Reduction Agency (DTRA). He presented our nerve agent countermeasure technology in a talk titled "A Nicotinic Acetylcholine Receptor (nAChR) Directed Organophosphate Countermeasure".
- We greatly improved our online presence for our Nyloxin product line and created an Amazon storefront at Amazon.com: Nyloxin: Home page that contains in-depth product information as well as comparisons to other OTC pain products.
- We started selling Nyloxin for Chronic Pain Relief through the Walmart Marketplace at www.Walmart.com.
- We closed our Coral Springs offices to consolidate our operations at our Plantation, Florida laboratory and warehouse space. This streamlined operations in addition to cost savings of over $100,000 annually.
- We eliminated all institutional debt with the company when a long-term investor purchased the last of these notes. We feel that this will be significantly healthier for the Company and our shareholders. This will allow us to move our business plan forward without fear of constant selling pressure from toxic convertible debt.
- We moved manufacturing in-house to allow for greater quality control and reduced lead times for product runs. This also provides a significant cost savings in production.
- We announced our dedication to transparency by re-engaging our Auditors and accountants to start filing our delinquent quarterly and annual reports. We have not filed these since the third quarter of 2018 and are working diligently to complete the process with the plan to be current in the first quarter of 2021.
The Shareholder Letter is available on the Company's website at: https://tinyurl.com/SL-NPHC.
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®, Equine Pain-Away and Pet Pain-Away. For additional information about Nutra Pharma, visit:
http://www.NutraPharma.com or
http://www.nyloxin.com
http://www.petpainaway.com
http://www.equinepainaway.com
Contact:
Nutra Pharma Corp.
Nina Goldstein
877-895-5647
IR@nutrapharma.com
SEC Disclaimer
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 publishing of a letter to shareholders 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71843
