Stemtech International, is an USA based network marketing company and offers “innovation, wellness and prosperity” in the global marketplace with a patented and patent-protected line of all-natural nutritional products that can be purchased only from Independent Business Partners.
In 2015 the company had a revenue of $52 million in 2016 $43 million.
This month Stemtech’s CEO and founder Ray Carter has filed for Chapter 11 bankruptcy, leaving thousands of distributors in the dust.
According to Stemtech reasons for the bankruptcy is a long lasting and lost lawsuit against Andrew Paul Leonard a photographer of stem cells, as a lawsuit against a supplier of raw materials Cerule. Total amount creditors is approx. $5 million.
In August 2015 Inc. Magazine has included Stemtech International Inc. on its List of the Fastest-Growing Private Companies in America for the third consecutive year. Stemtech
Tag Archive for Chapter 11
Hot Business News Today
Solavei: Reports Of Our Death Are Greatly Exaggerated
by Ted Nuyten • • 0 Comments
Our Business For Home collegue Tina Marie Williams has published an article with as heading Solavei among other mobile network companies mvno coming to an end in USA
It is based on an article in Channel Partners, a leader in providing news and analysis to indirect sales channels serving the communications industry.
We have received an email response from Rick White, Solavei ‘s Head of Legal and Policy, and we think it is fair to publish his comment:
Rick White:
“We were very surprised to read your article, and learn that our company is “collapsing” and “coming to an end.”
In fact, we have signed up thousands new customers this month, paid close to $1 million in compensation to our members this month, and announced several exciting new programs on Monday in a national webcast joined by over ten thousand members from all over the United States.
With all due respect (and with apologies to Mark Twain), your reports of our death are greatly exaggerated.
Your article makes interesting points about the evolution of the mobile phone business, and it’s true that we are taking advantage of the Chapter 11 process to restructure our finances and set us up for continued growth. But your
Hot Business News Today
Solavei Among Other Mobile Network Companies (MVNO) Coming To An End In US
by Tina Williams • • 0 Comments
Are we seeing the end of MVNO (Mobile Virtual Network Operating) companies? Channel Partners Online believes so. In a recent article they shared why the collapse of Solavei and other companies are happening and will continue to leave the scene:
The MVNO scene in the United States is in the midst of a shakeup, according to reports.
And, frankly, the news doesn’t come as a big shock as the MVNO model – where companies lease network access from a larger wireless operator and then bill, usually without a contract, under their own brands – has come into question. That’s because providers including AT&T, Sprint and T-Mobile now offer their own bottom-dollar, no-contract services with the backing of more financial resources than their smaller rivals.
As a result, the following initiatives have come to an end: RadioShack’s Leap Wireless partnership; Spot Mobile’s and Solavei’s offerings, which ran on the T-Mobile network; and Chit Chat Holdings’ service, which relied on Sprint.
First, Fierce Wireless reported last week that RadioShack has put the kibosh on its no-contract product. The once-formidable retailer launched its prepaid service in 2012 but, contrary to most MVNO arrangements, had Leap provide the billing, not just the access.
That partnership came to end after AT&T earlier
Hot Business News Today
Solavei Sales Numbers Revealed
by Tina Williams • • 0 Comments
Just a few weeks after filing for Chapter 11 bankruptcy protection, Solavei CEO Ryan Wuerch said that the company is doing better than expected.
“We’re actually doing far better than we anticipated,” he told FierceWireless, estimating that only around 5 percent of the company’s customers know about its bankruptcy filing. “We’ve had very little attrition.”
T-Mobile US (NYSE:TMUS) MVNO Solavei filed for Chapter 11 bankruptcy protection earlier this month, but said it will continue to operate normally while it restructures. The company launched service in the fall of 2012, and anticipates exiting bankruptcy later this year.
Solavei’s bankruptcy filing, obtained by FierceWireless, offers a surprisingly candid view into the MVNO’s business–which is rare, considering most U.S. MVNOs don’t offer much information on their customer numbers and revenues. According to Solavei’s bankruptcy filing, the company was founded in late 2011 around the concept of “social commerce.” Specifically, Solavei pays a $5 referral commission each month for every subscriber a customer personally refers to Solavei, and this monthly commission continues for as long as the referred subscriber remains a Solavei customer.
Under Wuerch’s direction, the company has grown to 51 full-time employees and an annual revenue rate of $65 million. The company has signed up a