0001493152-26-007044
SEC filingNutra Pharma Corp. (NPHC) reported a net loss of $1.3 million for fiscal year 2024, driven by significant operating expenses and other expenses that exceeded its modest revenue. The company generated $246K in net sales, with $146K coming from a related party, resulting in a gross profit of $247K. However, selling, general and administrative expenses of $1.1M and total other expenses of $407K led to the substantial net loss. The balance sheet shows total assets of $599K, but total liabilities of $15.4M create a stockholders' deficit of $14.8M, indicating significant financial leverage. Cash flow from operations was negative $424K, though financing activities provided $419K in cash, resulting in a net cash increase of $36K to an ending balance of $36K. The company's financial position remains challenging with high debt levels and ongoing losses.
Nutra Pharma Corp. reported a net loss of $1.3 million for fiscal year 2024, continuing its pattern of unprofitability. The company generated $246K in net sales, with $146K (59%) coming from related party transactions. Gross profit was $247K, but this was completely eroded by $1.1M in selling, general and administrative expenses and $105K in bad debt expense related to a related party, resulting in an operating loss of $878K. Other expenses totaling $407K, primarily from $302K in interest expense and $221K in negative change in fair value of convertible notes and derivatives, contributed to the final net loss. The company reported $0 net loss per share on 7.67 billion weighted average shares outstanding.
The company's revenue of $246K represents minimal sales activity, with the majority ($146K) coming from related party transactions. No segment breakdown or geographic mix is provided in the filing. The cost of sales was $85K, but this was offset by a $60K reserve for supplier advances for purchases, resulting in an unusually high gross profit margin. The limited revenue base suggests the company is not generating meaningful commercial sales from its operations.
The company reported a gross margin of 100.4%, which is artificially high due to the $60K reserve for supplier advances for purchases being included in the gross profit calculation. Operating margin was negative 356.9%, reflecting the significant operating expenses relative to minimal revenue. The cost structure shows $1.1M in selling, general and administrative expenses, which represents 447% of revenue, indicating substantial overhead costs that are not supported by the revenue base. The company's profitability metrics demonstrate an unsustainable business model with expenses far exceeding revenue generation.
Cash flow from operating activities was negative $424K, primarily due to the $1.3M net loss, partially offset by various non-cash adjustments. Investing activities provided $41K in cash, mainly from $84K in proceeds from equipment sales. Financing activities provided $419K in cash, with $530K in loans from officers being the largest contributor. The balance sheet shows total assets of $599K against total liabilities of $15.4M, creating a stockholders' deficit of $14.8M. Current liabilities of $15.3M include $8.5M in other debt, $2.1M in accrued expenses, $1.6M in accrued payroll due to officers, and $1.2M due to officers. The company's liquidity position is extremely tight with only $36K in cash.
The filing does not provide specific management guidance, strategic priorities, or forward-looking statements about future performance. The financial statements indicate significant ongoing challenges, including substantial debt levels, negative cash flow from operations, and a large stockholders' deficit. The company's ability to continue as a going concern may be in question given its current financial position. No specific risk factors or strategic initiatives are disclosed in the provided financial data.