Hi-Health Supermart Corporation has settled Federal Trade Commission charges that it made unsubstantiated advertising claims that its "Ocular Nutrition" formula can reverse the effects of macular degeneration.

The company also claimed that its product could eliminate "floaters" -- the small specks that sometimes are seen moving in the field of vision.

The proposed administrative consent agreement bans the company from making similar claims and also requires a payment of $450,000 to the FTC.

The FTCs complaint alleges that Hi-Health, based in Scottsdale, Arizona, promoted Ocular Nutrition through a nationwide radio advertising campaign, including testimonials and other statements read on the "Paul Harvey News & Comment" radio show.

In its advertising, the company promised that Ocular Nutrition would not just preserve eyesight, but actually restore vision lost to macular degeneration. It also claimed that several studies showed that the product could improve cataracts.

In addition, the complaint alleges that the advertisements falsely claimed that a study shows that 83 percent of ophthalmologists recommend or prescribe Ocular Nutrition to treat age-related macular degeneration and cataracts.