Item 7.01 Regulation FD Disclosure.
In connection with the Securities and Exchange Commission's investigation
against United Health Products, Inc., Douglas Beplate (the former Chief
Executive Officer and Chairman and a former director of the Company), and Louis
Schiliro, (the former Chief Operating Officer and a former director of the
Company, and a current contractor with the Company), concerning possible
violations of certain provisions of the Securities Act of 1933 and the
Securities Exchange Act of 1934, the Company advised the Commission's
Enforcement Division that it would accept the proposed settlement terms which
the Enforcement Division had previously presented to the Company. The Company
was informed that the Commission approved the Enforcement Division's recommended
settlement terms to resolve the matter. The settlement process includes the
Commission filing a complaint followed in due course by the filing of a consent
judgment reflecting the terms of settlement. In that regard, the Commission
filed a complaint in the U.S. District Court for the District of New Jersey on
June 8, 2022, and Company's understanding is that once a judge is assigned, the
consent judgement will be filed to settle the matter. The Commission's
investigation and the proposed settlement terms were previously reported by the
Company in its prior periodic reports including its Annual Report for the year
ended December 31, 2021 under Item 1A "Risk Factors", and its Current Report on
Form 8-K filed on April 29, 2022 which disclosure is incorporated into this
report by reference. The proposed settlement terms pertaining to the Company do
not include settlement terms in the investigation pertaining to Mr. Beplate and
Mr. Schiliro.
Regarding the previously announced meeting with the FDA to review the Company's
Class III Premarket Approval application, this meeting has been moved to July 13
from July 6 at the FDA's request. As of this date, the Company has received no
additional requests for information or questions from the FDA on its PMA
application.
The information in this Current Report is being furnished pursuant to Item 7.01
and shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), nor is it subject to the
liabilities of that section or deemed incorporated by reference in any filing by
the Company under the Exchange Act, unless specifically identified as being
incorporated therein. By furnishing this Current Report on Form 8-K, the Company
makes no admission as to the materiality of any information in this Report.
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