After reading all the court documents, I have decided to continue to the series to see what can be learned from each court document filed by the attorneys for the FTC.
In this editorial, I want to look at the TRO Application filed by Angeleque P. Linville, the leading attorney for the FTC office out of Dallas. Ms. Linville is without a doubt a very competent legal counsel, from reviewing her background.
But, when it comes to her TRO application, I respectfully disagree with her on several points, and truly take offense o the fact that in several areas she calls “Vemma a pyramid”, rather than an “alleged pyramid.” This may seem trivial to some, except that when anyone has already made up their mind in an argument, then it becomes hard for them to separate facts from their perceived reality.
I do however believe that BK Boreyko and the team at Vemma, may have taken their eye off the ball in some areas, and when you do this too many times, then what seems like small infractions, can mushroom into what we see has happened at VEMMA.
As I wrote earlier this week, this isn’t just a Vemma issue, this is an industry-wide issue.
I will be doing a video and editorial on this issue over the next few days, to address what I see as the most obvious issues the FTC have raised as concerns.
The Direct Selling Association (DSA), using data which includes the top 20 direct selling member companies – AdvoCare International, LP, Nature’s Sunshine Products, Inc., Ambit Energy, Nu Skin Enterprises, Amway, Rodan + Fields, Arbonne International, LLC, Scentsy, Inc., Herbalife, Shaklee Corporation, Isagenix International, Stream Energy, LegalShield, Take Shape for Life, Inc.-Medifast, LifeVantage Corporation, Team Beachbody, Mary Kay Inc., Thirty-One Gifts, Melaleuca, Inc., USANA Health Sciences, Inc. reveals some amazing facts and figures.
Over 18 million people were involved in direct selling in the U.S. in 2014, with estimated retail sales reaching $34.5 billion, a 5.5% increase from 2013. (PRNewsFoto/Direct Selling Association)
According to date released at the DSA annual meeting June 1st, 2015, retail sales volume among U.S. direct selling companies grew 5.5% between 2013 and 2014 to $34.47 billion. Individuals involved in direct selling increased 8.3% during the same period, surpassing over 18 million (18.2 million) Americans for the first time.
Mannatech Reports Positive 1st Quarter Results – First quarter net sales for 2015 were $44.4 million, an increase of 3.3% as compared to $43.0 million in the first quarter of 2014. Mannatech’s net sales increased 7.4% in constant dollars, which is a non-GAAP financial measure that excludes the impact of fluctuations in foreign currency exchange rates.
This story broke yesterday when Tom Harvey, of the Salt Lake City Tribune, published his article. I went through the whole article I realized several issues. First is the fact, there are many moving parts of the rise and fall of MonaVie aka MYNT, and Second…
If I get this right, and it’s tricky as I said there are many moving parts, and we are just now pulling the lawsuits and filing, here is what I see on the surface.
1. In 2010 two transactions took place (not sure of which came first at this point); major stockholders sold their stock valued at that time at $186 million to the EMPLOYEE ESOP secured by a high-yield (article called it an “exorbitant interest rate), and during this same year, MonaVie executives sought out financing for $182 million from TSG-MV Financing LLC, securing “virtually all the assets” of MonaVie.
What can bring 28 female entrepreneurs together… Empowering other women! When I learned about Women United For ChangeI knew these ladies were on to something.
My friend, Laura Wells reached out and shared with me that not only was she a founder but several other dear friends like, Michelle Barns, Janine Finney, and Lory Moorland where also founders! I knew this was a movement I could put our whole team behind!
Over the years as I talked to each of these women individually, each shared the same vision of empowering women in ways that would improve their lives and the lives of their families.
Now to see them come together under this one common cause is a dream come true!
Take a few minutes and watch this video and learn how you can become a part of this amazing movement to Empower Women across the globe!
Welcome to this addition of the Home-Based and Small Business News & Info report. My objective is to provide this community with news and info that can help you build a successful enterprise no matter how large or small.
Something I noticed is that the majority, if not all these companies are a very solid purpose, mission and vision statement for their company and individual brands. They all know where they have come from and where they are going!
The last 24 hours has been very exciting for Kannaway. They received a valuation from $119.6-242.7 Million Valuation by Houlihan Capital which locked down the purchase of the company by Medical Marijuana Inc. (Full Release)
Yesterday at a press conference in Dallas, I watched as Kannaway announced the opening of their new Dallas regional office. This is a new business strategy lead by Dallas real estate broker, Wes Bishop.
Bishop in his career, has sold over $350 million in real estate and has agreed to help Kannaway acquire prime real estate in Dallas, Houston, Atlanta, Miami and other strategic locations as Kannaway expands from their current Southern California headquarters.
At yesterday’s press conference, news crews from all around Dallas attended to learn, not only about Kannaway but about four-year-old Harper Howard became the local example of the benefits of using cannabis hemp oil. Her seizures are decreased, according to her mother, due to the cannabis hemp oil she takes orally.
Although it’ still too early to know how this new business strategy will work, the one thing that is clear… Hemp is here to stay, and people are being helped by the benefits of the Cannabis plant.