Monthly Archives: January 2024

Hot Business News Today

SEC Asked USA Court To Dismiss iX Global Case

by  •  • 0 Comments

The SEC stated to the USA Court in a response on January 30, 2024.
“For the foregoing reasons, and those in the Commission’s Response to the Order to Show Cause (Dkt. 233), the Commission respectfully submits that sanctions are not warranted and that the Court’s Order to Show Cause (Dkt. 215) should be discharged.”
For the reasons given in the Commission’s Response to the Order to Show Cause, the Commission respectfully submits that the statements identified in the Order to Show Cause do not warrant sanctions under Rule 11 or the Court’s inherent authority. (Dkt. 233 at 8-20.)
While the Commission recognizes that its attorneys should have been more forthcoming with the Court, sanctions are not appropriate or necessary to address those issues. Significantly, the Commission is continuing to take steps to address the issues the Court identified and to identify any other issues that may warrant further consideration.
As indicated in the Commission’s Response, experienced trial attorneys from the Commission’s Denver Regional Office have been assigned to this matter. (Id. at 1; see Dkt. 234-236.) That team is reviewing the allegations and evidence in this matter.
Given this ongoing review, the Commission has determined that the best way to proceed is to dismiss

Read more...

Hot Business News Today

LifeVantage Q2 Revenue 2023 Down 3.8% To $51.6 Million

by  •  • 0 Comments

LifeVantage Corporation (Nasdaq: LFVN), a leading health and wellness company with products designed to activate optimal health processes at the cellular level, today reported financial results for its second fiscal quarter ended December 31, 2023.
Second Quarter Fiscal 2024 Summary*:

Revenue of $51.6 million, a decrease of 3.8% from the prior year period. Excluding the negative impact of foreign currency fluctuations, second quarter revenue was down approximately 3.4%;
Revenue in the Americas decreased 1.6%, and revenue in Asia/Pacific & Europe decreased 10.0%. Excluding the negative impact of foreign currency fluctuations, second quarter revenue in Asia/Pacific & Europe decreased approximately 8.0%;
Net loss per diluted share was $0.05, versus net loss of $0.08 per diluted share a year ago;
Adjusted earnings per diluted share was $0.10, compared to adjusted loss per share of $0.07 a year ago; and
Adjusted EBITDA increased 289.0% to $3.1 million.
* All comparisons are on a year over year basis and compare the second quarter of fiscal 2024 to the second quarter of fiscal 2023, unless otherwise noted.

“We delivered significant year-over-year improvement in profitability during the second quarter as our LV360 initiatives continued to gain traction,”

said Steve Fife, President and Chief Executive Officer of Life Vantage.
“Adjusted EBITDA increased 289% to $3.1 million

Read more...