Natural Health Trends Announces Change of Auditor
LOS ANGELES, March 14, 2017 (GLOBE NEWSWIRE) -- Natural Health Trends Corp. (NASDAQ:NHTC), a leading direct-selling and e-commerce company that markets premium quality personal care, wellness and ”quality of life“ products under the NHT Global brand, today announced the appointment of Marcum LLP (“Marcum”) as its independent registered public accounting firm.
Marcum, one of the largest independent public accounting firms in the U.S., will replace Lane Gorman Trubitt, LLC (“Lane Gorman”), as the Company's independent auditor for the fiscal year ending December 31, 2017. Marcum’s China and SEC Practice Groups both provide middle market clients with unparalleled expertise, resources and credibility. The Audit Committee approved the appointment of Marcum and notes that the decision to change principal accountants was not the result of any disagreement between the Company and Lane Gorman on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.
“I would like to express our sincere appreciation and gratitude on behalf of the Board of Directors and management for Lane Gorman’s professional service throughout the years,” commented Chris Sharng, President of Natural Health Trends Corp. “We look forward to working with Marcum given the firm’s strong reputation for audit and assurance, significant experience working with publicly traded companies and international business expertise. With their presence in the U.S. and China, we believe Marcum is uniquely positioned to support our Company as we navigate the complex international and domestic regulatory environments.”
Marcum is expected to begin work immediately by reviewing the Company’s financial results for the first quarter of 2017.
About Natural Health Trends Corp.
Natural Health Trends Corp. (NASDAQ:NHTC) is an international direct-selling and e-commerce company operating through its subsidiaries throughout Asia, North America, and Europe. The Company markets premium quality personal care products under the NHT Global brand. Additional information can be found on the Company’s website at www.naturalhealthtrendscorp.com.
Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Forward-looking statements in this press release do not constitute guarantees of future performance. Such forward-looking statements are subject to risks and uncertainties that could cause the Company’s actual results to differ materially from those anticipated. Such risks and uncertainties include the risks and uncertainties detailed under the caption “Risk Factors” in Natural Health Trends Corp.’s Annual Report on Form 10-K filed on March 10, 2017 with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
CONTACTS: Company Contact: Scott Davidson Senior Vice President and Chief Financial Officer Natural Health Trends Corp. Tel: 310-541-0888 scott.davidson@nhtglobal.com Investors: ADDO Investor Relations Tel: 310-829-5400 investor.relations@nhtglobal.com
Released March 14, 2017