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Video of Mannatech’s Manapol Creation Process Available on Business Wire’s Website

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COPPELL, Texas–(BUSINESS WIRE)–A video is available on Business Wire’s website featuring Mannatech®, Incorporated’s development of Manapol®, the purest, most potent form of aloe vera gel available. Manapol may help support the immune system, digestion, and improve cognitive function.*

Mannatech is proud to partner with Natural Aloe Costa Rica to develop this incredible product in one of the most luscious and fertile rainforest locations on earth.

Please watch this video as the company shares the story of the heart and passion that go into developing a container of Manapol from the ground to the container.

VIEW THE VIDEO HERE

*This statement has not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease.

Contacts

Mannatech, Incorporated
Raquel Mooring, 972-471-1532
[email protected]

04/29/2017 |

ForeverGreen Appears To Be Shutting Down

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Summary

A series of poor decisions have cost the company millions.

Management is not disclosing the truly dire nature of the business.

Recovering from the recent downward trend seem unlikely.

Forever Green Worldwide (OTCQB:FVRG) is a micro-cap multi-level marketing firm that sells an assortment of pills and potions that allegedly help with pain relief and weight management. Through a series of poor management decisions and introduction of a costly compensation plan, the company has seen revenues and profits decline sharply in the past year. Top managers suggest the collapse in sales was all planned, in reality the business is on the brink of bankruptcy due to factors the company is not disclosing to investors in a forthright manner.

Multi-level marketers are reliant on one principled business metric that drives sales: Distributors. The fluctuation in distributors, or as ForeverGreen labels them, members, directly correlates with both the top and bottom line. The company confirmed this in the 2014 annual report by noting:

[The] increase in revenues is directly related to the increased number of members and their business.

SG&A among MLM companies is less fixed than traditional retailers and rapidly fluctuates as the distributor bases changes since the largest expenses for any MLM are distributor commissions. In 2016, the company spent $17.1 million, or 42% of revenue on these expenses.

Previously, however, the company spent a much greater amount on commissions to members. That was because, starting in 2014, the company had adopted a new commission structure that highly incentivized recruitment over the sale of actual products to real consumers. In the 2014 10-k the company stated:

During 2014, Company management made a conscious effort to invite and attract significant direct marketing leaders to our Company. This strategy has been hugely successful as evidenced by the convincing increase in revenues.

That conscious effort came in the form of a new marketing plan called FGX. In it, the company authorized massive payouts to individuals with recruiting schemes capable of signing up large swaths of people around the world. In the first year of implementation revenues increased 240% and selling expenses (commissions) increased 280%. The problem was that it squeezed margins are caused the company to post increasingly large losses for 2015 and 2016.

In 2016, with the operating deficit ballooning and financing all but cut off, the company decided to phase out the FGX compensation plan. With less incentive to recruit, many members left the company. Almost half of the company’s members left in 2016 (45.5%), marking the worst year for member retention in recent company history. Unsurprisingly, revenues also cratered, declining 40% that year. Management has not been forthright about why their business is imploding. The massive loss of members is hardly mentioned by management. Instead they explain it as a shift in focus from growth and to profitability. From the 2016 10-k:

During the last couple of years, the Company has focused on top line revenue growth. The Company’s focus has now shifted to driving Company profitability, which in turn will drive shareholder value.

Of course, losing half of your members and nearly half of your sales would negatively impact the bottom line. Investors shouldn’t believe the company’s attempt to explain away the core issue. ForeverGreen is rapidly losing members because they can no longer afford a generous recruiting plan that fed growth over the past several years. With an accumulated deficit of $42.7 million and less than $200,000 of cash on the balance sheet, the company is quickly careening toward complete insolvency.

Fixing the issue isn’t easy and could perhaps be impossible. The company needs to re-invigorate member growth, but does not have the financial resources to do so. Financing is all but gone given the capital position of the balance sheet. The temporary solution for management has been to issue convertible debt which has massively diluted shareholders. With the stock trading for $0.25, more stock can hardly be tolerated by the market.

For years, ForeverGreen has engaged in a bizarre set of financial relationships with various directors and top executives where the company borrows funds at interest rates ranging from 10-16% in order to fund operations. These arrangements, along with the issuance of stock, are the reason the company has managed to avoid bankruptcy thus far. Investors should not hold out hope that these arrangements can continue. If they do stop, the company will have no means to pay its obligations.

This year, the company has $1.7 million of debt coming due. Operating cash flow is negative, the balance sheet has $187,000, and the company has been unable to get financing through traditional lenders. It should not come as a shock that management has finally disclosed that there is substantial doubt regarding their ability to continue as a going concern. Investors should read the tea leaves here and cash out while they can still get some value for what is otherwise a valueless equity waiting for bankruptcy.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Editor’s Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.

Article Source: SeekingAlpha.com

04/29/2017 |

Beachbody LLC files suit over allegedly counterfeit products found on eBay

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RIVERSIDE – A Rialto individual is accused of selling counterfeit exercise DVDs and kits on eBay.

Beachbody LLC filed a complaint on April 11 in the U.S. District Court for the Central District of California, Eastern Division against Jamie Christopher and Does 1-10 alleging trademark and copyright infringement.

According to the complaint, the plaintiff alleges that the defendants are selling fake, pirated or counterfeit versions of its Cize and Country Heat fitness products through eBay. It alleges the defendants did not and failed to obtain the plaintiff’s authorization or consent to distribute, mark and sell the products.

The plaintiff seeks an award for all damages in an amount to be proven at the trial, destruction of the infringing articles, attorney’s fees, costs of suit and for such other relief as the court may deem just and equitable. It is represented by Christopher D. Johnson, Christoper Q. Pham and Marcus F. Chaney of Johnson and Pham LLP in Woodland Hills.

U.S. District Court for the Central District of California, Eastern Division Case number 5:17-cv-00683

04/28/2017 |

USANA Philippines recognized in Asian Networking Convention

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AURORA Gaston, USANA Vice President for the Philippines and Indonesia, receives the Innovative Company 2017 Award at the Asian Networkers Convention and Expo 2017 held recently at the Ynares Sports Arena. USANA, a world leading manufacturer and distributor of health supplements in the multilevel marketing industry, bagged three other awards including Vision Excellence Award for USANA Founder and President Dr. Myron Wentz, Outstanding Couple Networker Award – Duard and Rosanne Ricalde, and People’s Choice Rising Star Best Male Award – Billy Dela Fuente.

These awards cap USANA’s eighth year celebration in the Philippines as it broke through the PhP4 billion sales in 2016. In her speech, Ms. Gaston, together with the company’s Field Development and Marketing team, Ethics and Education, Top Income Earners and active associates, took pride in the company’s science-based products, exceptional compensation plan and world-class multi-level company during the awarding ceremonies.

Article Source: www.sunstar.com.ph

04/28/2017 |

Herbalife Nutrition Congratulates Heather Jackson on Her IRONMAN 70.3 Win in Peru and Applauds Her for Donating the Proceeds to the Peruvian People Devastated by Recent Floods

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LOS ANGELES–(BUSINESS WIRE)–Herbalife (NYSE: HLF), a global nutrition company, congratulates triathlete Heather Jackson on winning the IRONMAN 70.3 Peru. Sponsored by Herbalife Nutrition, Jackson was one of 1,600 runners competing in this race. Jackson, who trains in Bend, Oregon, completed the race with a time of 4 hours, 12 minutes and 41 seconds. She will donate the proceeds from her win to the Peruvian people devastated by the recent floods that displaced an estimated 900,000 families.

“Once again, Heather Jackson has demonstrated to be among one of the world’s top athletes”

“The people of Peru inspired me during the race, and Herbalife Nutrition fueled me as I pushed through,” said Heather Jackson. “I’m always so grateful for the opportunity to race and meanwhile, thousands of people have lost their homes. Peru, Herbalife Nutrition, and the entire Herbalife Nutrition community have given me so much in so many ways that it is the least I can do to give back to this wonderful country.”

Her finish in this race qualifies her for the IRONMAN in Chattanooga, Tennessee, on May 21 in her attempt to secure a spot in this year’s IRONMAN World Championship in Kailua-Kona, Hawaii, in September.

“Once again, Heather Jackson has demonstrated to be among one of the world’s top athletes,” said Michael O. Johnson, chairman and CEO, Herbalife. “As her official nutrition partner, we could not be more proud of her success in this IRONMAN and for giving back to those who need it most right now.”

Additionally, Herbalife Nutrition sponsored athletes Felipe Barraza from Chile placed fourth and Raul Tejada from Guatemala placed fifth in the men’s race.

Worldwide, Herbalife Nutrition supports more than 190 athletes. To learn more about Herbalife Nutrition sponsored athletes, visit IAmHerbalife. To receive the latest company updates from Herbalife Nutrition, follow @HerbalifeNews.

04/28/2017 |

Criminals who use Bitcoin targeted under proposed Florida law

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Criminals who deal in bitcoins in Florida could soon be busted for money laundering.

Florida lawmakers are poised to pass a bill that will add “virtual currency” to the state’s money-laundering statute, a change hailed by law enforcement although frowned upon by some enthusiasts of bitcoins.

The proposed law was crafted after a Miami judge tossed a criminal case against a Miami Beach man accused of selling $1,500 worth of bitcoins he believed was to be used to buy stolen credit-card numbers online.

The bill, which is being considered during the ongoing annual legislative session in Tallahassee, was crafted with help from Miami-Dade cyber-crimes prosecutors.

“The high-tech criminals of the 21st Century use virtual currencies like bitcoin to accumulate and hide the profits of their illegal activities,” Miami-Dade State Attorney Katherine Fernandez Rundle said in a statement. “This legislation makes sure that traffickers and fraudsters can no longer try to use internet-based currencies to hide and move their ill-gotten gains.’’

But critics say the law could deliver a chilling effect on the bitcoin, which can be valuable in promoting commerce between Florida and countries such as Venezuela, where traditional banking systems have gone awry.

“Florida legislators will be sending a very clear signal that financial innovation is not welcome here,” said Charles Evans, a Barry University economist who specializes in Bitcoin. “No doubt, officials in China, Europe, Russia, Texas, and other places where Bitcoin is welcome will be pleased.”

So far, a House version of the bill – sponsored by Miami Rep. Jose Felix Diaz – passed unanimously through an appropriations committee last week. A Senate version has passed two sub-comittees and is awaiting a vote in an appropriations committee.

Authorities across the United States have struggled to figure out how laws apply to Bitcoin, which allows some users to spend money anonymously and can also be bought and sold on exchanges with U.S. dollars and other currencies.

Digital currencies allow people to make one-to-one transactions, buy goods and services and exchange money across borders without involving banks, credit-card issuers or other third parties.

Regulated services such as CoinBase, which operates similarly to PayPal, allow people to buy, sell and use bitcoins. Authorities have raised concerns about the currency – which can be bought and sold through private users – being used in the anonymous black market.

The currency has gained popularity with merchants selling legitimate goods and services, everything from Dell to Expedia to Overstock.com. In Miami, there are a handful of restaurants that accept the virtual currency, including the popular South Beach hotel and club, The Clevelander.

But the currency has also been used for more nefarious reasons.

Bitcoins was most famously used to help traffic drugs in the now-shuttered Silk Road “dark web” online network. In an unrelated South Florida case, a Miramar man got 10 years in prison after using Bitcoin to buy Chinese-made synthetic heroin from a Canadian prisoner.

When major credit card companies stopped accepting business from Backpage.com over concerns about ads for the sex trade, the classified website turned to bitcoins. Prostitutes – and human traffickers – learned to buy bitcoins to purchase the ads.

Under current Florida law, money laundering can apply to host of financial transactions designed to hide funds earned through criminal activity, or further that activity. That includes bank deposits, wire transfers and even investments.

IF THE LAW PASSES, “VIRTUAL CURRENCY” WILL BE ADDED TO THE DEFINITION OF “MONETARY INSTRUMENTS” COVERED UNDER FLORIDA’S MONEY LAUNDERING ACT.

If the law passes, “virtual currency” will be added to the definition of “monetary instruments” covered under Florida’s Money Laundering Act, which would then be defined as a “medium of exchange in electronic or digital format that is not a coin or currency of the United States or any other country.”

South Florida lawyer Andrew Hinkes said that under the proposed law, prosecutors will still need to prove intent – that someone knew they were changing money for bitcoin or bitcoin for money to either hide dirty money, or further a future illegal transaction.

“I don’t think it would affect the day-to-day users of bitcoin, or investors who hold bitcoin,” Hinkes said “But it might affect the business of those who exchange bitcoin for dollars. Now, assuming the facts support the intent required by law, the path to prosecution of traders for money laundering is clearer in Florida.”

Miami Beach police thought they had made a solid case against Michel Espinoza, a website designer who was charged with illegally transmitting and laundering $1,500 worth of bitcoins.

Undercover detectives met Espinoza through a Bitcoin exchange site called LocalBitcoins.com.

As they bought the bitcoin from him, the undercover detectives told Espinoza they wanted to use the money to buy stolen credit-card numbers.

Espinoza was arrested along with another man, Pascal Reid, who pleaded guilty to acting as an unlicensed money broker and was sentenced to probation. Under his unusual plea deal, Reid agreed to teach law enforcement about Bitcoin.

But his defense lawyers challenged the prosecution, arguing that Bitcoin is not actually money under Florida law.

At a hearing in May 2016, they told a judge that no central government or bank backs Bitcoin, like the United States does the dollar. Government regulation of Bitcoin remains a messy hodgepodge from state to state, country to country and the IRS considers Bitcoin deals no more than bartering, he said.

“Basically, it’s poker chips that people are willing to buy from you,” testified Evans, of Barry University.

In a decision that was closely watched by the virtual currency community, Pooler agreed – throwing out the criminal charges against Espinoza.

“This court is unwilling to punish a man for selling his property to another, when his actions fall under a statute that is so vaguely written that even legal professionals have difficulty finding a singular meaning,” she wrote.

Miami-Dade prosecutors are appealing the ruling.

Read more here: http://www.bradenton.com/

 

 

04/27/2017 |

Youngevity Moves up to #76 in 2016 Global Direct Sales 100

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SAN DIEGO, CA–(Marketwired – Apr 21, 2017) – Youngevity International, Inc. (OTCQX: YGYI), a leading omni-direct lifestyle company, was named the 76th largest direct selling company in the world for 2016 by top industry trade publication Direct Selling News.  The Direct Selling News Global 100 is an annual ranking that recognizes the most successful direct selling companies. Current estimates put the approximate number of direct selling companies worldwide at 10,000+. (1)

Youngevity’s rank coincides with a record-setting revenue year for the company. The prior year in 2015, Youngevity ranked #78. Youngevity and other DSN Global 100 companies were announced Wednesday night in Dallas.

“We are honored to be ranked within the Direct Selling News Global 100,” stated Steve Wallach, Co-Founder and CEO of Youngevity. “2016 was a year that positioned us for scalable growth as we were hard at work establishing infrastructure, investing in Information technology systems, strategically acquiring complementary brands, and expanding globally.”

“The DSN Global 100 ranking recognizes what we believe to have been another solid year for Youngevity 2016,” stated Dave Briskie, President and CFO of Youngevity. “In the span of 12 months, we achieved record revenues of $162.7 million and gross profit that moved 5.6 percent to $98.1 million. We anticipate this momentum to build during 2017.”

Youngevity was founded based upon the pioneering principles of Dr. Joel Wallach; focusing on enhancing the lives of individuals and promoting their own “betterment.” Today Youngevity seeks to continue to meet this mission with groundbreaking products, innovative services and a fulfilling business opportunity individually defined through flexibility and personal lifestyle choices. And in this Pursuit of Betterment, the Company continues to build and grow its Youngevity Be The Change Foundation. 100% of the profits from Youngevity Be the Change Coffee, and other special products highlighted on the Foundation website finance Foundation operations.

04/27/2017 |

Isagenix Founders Jim & Kathy Coover Recognized With 2017 Bravo Award for Leadership by Direct Selling News

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Gilbert, Arizona (PRWEB) April 20, 2017 The 2017 Bravo Awards honor individuals and companies for exceptional achievements in 2016. The Bravo Leadership Award goes to direct selling executives who embody exceptional leadership qualities – providing inspirational vision for their company, motivating their teams toward a common goal, serving others by equipping them with the best resources, and empowering their employees to reach new heights.

“We are so honored to be recognized as inspirational leaders,” said Kathy Coover, Isagenix co-founder and executive vice president. “I truly believe it is a leader’s energy and enthusiasm that inspires others to take action. It’s our job to set the strategy and direction so our employees and associates can work together as One Team to achieve our vision.”

“As leaders, I think we have an incredible opportunity to step up and demonstrate to the world what a powerful distribution channel we are, and more importantly, what a powerful agent of change we can be,” added Jim Coover, Isagenix co-founder and chief executive officer.

Isagenix was also recognized at the event ranking amongst industry leaders as No. 26 on the DSN Global 100 list. Since its inception 15 years ago, Isagenix has rapidly moved up the ranks from No. 50 in 2009 due to steady growth and global expansion into 12 countries. In March 2017, Isagenix also announced crossing $5 billion in cumulative revenue life-to-date and progressing toward the company’s $1 billion in annual revenue goal for 2017.

“The excitement and energy we are experiencing at Isagenix is shared by everyone who partners with us across the globe, including our dedicated associates, customers, and employees. This ranking belongs to all of them. Together, as One Team, we are making our world a healthier place,” said Travis Ogden, Isagenix president and chief operating officer.

To learn more about Isagenix, visit our website at Isagenix.com, subscribe to our blog at IsaFYI.com, like us on Facebook at Facebook.com/Isagenix, and follow us on Twitter and Instagram @Isagenix.

04/23/2017 |

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