Mon Sep 23 21:54:00 UTC 2024: ## Smart for Life Turns Around Finances, Posts Positive Net Stockholders’ Equity

**Miami, FL -** Smart for Life, Inc. (OTC: SMFL), a leading health and wellness company, announced today a significant financial turnaround, transitioning from negative net stockholders’ equity to over $9.4 million in positive net stockholders’ equity as of September 20, 2024. This achievement was driven by a series of restructuring initiatives undertaken over the past few quarters, including the elimination of over $15 million in debt and interest.

“We are proud of the tremendous strides we’ve made in transforming our balance sheet,” stated Darren Minton, CEO of Smart for Life. “By eliminating more than $15 million in debt and interest, we have transitioned from negative net stockholders’ equity to a much stronger balance sheet, paving the way for future growth.”

Minton emphasized that the company’s focus on debt reduction and operational efficiency were key to this turnaround. He also highlighted the successful completion of the company’s 2023 annual report on Form 10-K, filed with the U.S. Securities and Exchange Commission, as a crucial step in regaining a listing on a senior U.S. exchange.

Looking forward, Smart for Life plans to continue streamlining operations, reducing liabilities, and strengthening its financial foundation. The company is committed to executing its long-term M&A strategy, focusing on acquiring profitable companies and brands to enhance its portfolio and drive growth.

Smart for Life is dedicated to providing innovative health and wellness solutions through research-driven formulations and consumer-centric approaches. The company is committed to redefining the boundaries of nutritional science and building long-term value for shareholders.

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