Healthier Choices Management Corp. Dismisses Previous Independent Registered Public Accounting Firm and Appoints New Auditor

Healthier Choices Management Corp. (OTCMKTS:HCMC) recently filed a Form 8-K with the Securities and Exchange Commission, announcing significant changes in its certifying accountant and legal matters.

The Audit Committee of the Board of Directors dismissed Marcum LLP as the independent registered public accounting firm for the company, effectively ending the relationship as of December 4, 2024. The decision was primarily driven by the need to establish a new audit relationship following the spin-off of its subsidiary, Healthy Choice Wellness Corp. Marcum had issued audit reports for the fiscal years ending December 31, 2023 and 2022 with no adverse opinions or disclaimers of opinion.

During the aforementioned fiscal years and the subsequent interim period leading to Marcum’s dismissal, there were no disputes between Healthier Choices Management Corp. and Marcum on accounting principles, financial statement disclosure, or audit scope. The company noted material weaknesses in its internal controls over financial reporting for the specified years, including issues related to inventory observations, disclosure controls, and personnel segregation. Healthier Choices Management provided Marcum with a copy of the disclosures before filing the Form 8-K.

Subsequently, on January 22, 2025, the company appointed TAAD, LLP as its new independent registered public accounting firm for the fiscal year ending December 31, 2024. Healthier Choices Management confirmed that there were no consultations between the company and TAAD regarding accounting principles or disagreements on financial matters in the preceding years through January 22, 2025.

Additionally, Healthier Choices Management Corp. faced a legal setback as the U.S. Court of Appeals for the Federal Circuit denied its appeal concerning a decision by the United States Patent and Trademark Office Patent Trial and Appeal Board. This ruling affected an HCMC patent involved in a patent infringement action against Philip Morris USA, Inc. and Philip Morris Products S.A. Healthier Choices Management Corp. chose not to pursue rehearing by the Federal Circuit following the ruling and dismissed the patent infringement action against the mentioned entities in late December 2024.

The company included a letter from Marcum LLP to the SEC and an Interactive Data File as part of its Form 8-K filing. Healthier Choices Management Corp.’s Chief Executive Officer, Jeffrey E. Holman, signed the report on January 27, 2025, reflecting the company’s compliance with SEC regulations.

This development marks critical changes in Healthier Choices Management Corp.’s auditing practices and legal proceedings, indicating a shift in its financial and legal strategies moving forward.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Healthier Choices Management’s 8K filing here.

Healthier Choices Management Company Profile

Healthier Choices Management Corp. operates natural and organic retail stores in the United States. The company operates in two segments, Grocery and Vapor. The company operates Ada's Natural Market and Paradise Health & Nutrition stores that offer fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, health and beauty products, and natural household items; Mother Earth's Storehouse and Ellwood Thompson stores, which provide organic and health foods, and vitamins; and Greens Natural Food stores that offers organic produce and non-GMO groceries and bulk foods, various local products, juice and smoothie bar, fresh foods, vitamins and supplements, and health and beauty products.