Immunotec, a direct-to-consumer company and a leader in the nutritional industry (the “Company” or “Immunotec”), today announced its year-end consolidated financial results for Fiscal 2014. All amounts in this press release are denominated in Canadian dollars unless otherwise indicated.
“We are pleased to report record full-year revenues and Adjusted EBITDA(1) in Fiscal 2014 fuelled by solid growth in our activities outside of Canada and operational leverage,” said Mr. Charles L. Orr, Chief Executive Officer.
“We are currently addressing some challenges related to our recent implementation of value-added taxes (VAT) in Mexico. More importantly, a growing number of consultants and customers throughout the world are experiencing the tangible benefits of Immunotec’s products and the business opportunities provide by our business model,” concluded Mr. Orr.
PERFORMANCE HIGHLIGHTS
Fiscal 2014 consolidated revenues increased 47.5% over the same period
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Organo Gold Turkey Now Open For Business
by Nicole Dunkley • • 0 Comments
OrganoGold, the global gourmet coffee company that caters to consumers’ active lifestyles, recently announced that it has opened operations in Turkey. Paul Jarvis, Regional Vice President of Europe, CIS and Africa, will manage the Company’s activities in the country.
“The opening of Turkey is a significant operational achievement for Organo Gold”, said Bernardo Chua, Founder and Chief Executive Officer of Organo Gold. “In line with our Global Footprint Initiative, Turkey unites the Company’s Asian, European and African operations and allows us to better serve our Distributors and Customers across this diverse and dynamic region.”
Co-Founder and Global Master Distributor Shane Morand added, “Turkey’s geographical importance, booming economy and young demographic complements Organo Gold’s mission, product lines and opportunity.”
It is highly gratifying for Organo Gold to be opening in a country with such a significant
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Medifast Profits Fall 45%, Overhauls Board
by Ramya Chandrasekaran • • 0 Comments
Weight-loss company Medifast Inc. announced Monday that it would overhaul its board of directors under pressure from an activist investment firm, removing eight directors and adding five.
Medifast, is seeking to break into international markets and expand its national reach as it copes with growing competition from technology-driven diet programs on smartphones and other gadgets. CEO Michael MacDonald, who will continue as chairman, said the new board would help the company reach those goals.
The board members who are being replaced “were good board members but didn’t have the national experience or exposure that these guys were looking for,” MacDonald said. “What we’re doing now is putting in what we feel will be people who have very good skill sets to take us to that next level.”
MacDonald said he began talking last year with
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LEOCoin Founders Linked to Pyramid Scheme in Pakistan
by Ramya Chandrasekaran • • 0 Comments
The latest alternative currency hype launch, LEOCoin, has received quite a bit of attention, following a series of outlandish claims. The developer team behind LEOCoin, in a recent CNBC article, claimed that several thousand merchants were willing to accept the digital currency.
“The company therefore claims it has 131,176 registered businesses ready to use LEOCoin, potentially making it the “second largest digital currency” in the world.”
Several media outlets have requested the founders of LEOCoin to provide some evidence to back up the claims made in that particular CNBC article. However, no commentary has been so far by LEOCoin representatives. As of today, nobody seems to have any idea as to who the 131,175 merchants really are. LEOCoin’s developers, Dan Anderson and Atif Kamran, have a somewhat checkered past.
In 2012, Anderson and Kamran were warned by
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NHTC Q1 Revenues Increase to $40.9 Million
by Ramya Chandrasekaran • • 0 Comments
Natural Health Trends Corp. (Nasdaq: NHTC) estimates revenue for the quarter ended March 31, 2015 to be $40.9 million. The Company also estimates that its deferred revenue at March 31, 2015 was $10.2 million, compared to $2.7 million at December 31, 2014. In the first quarter of 2014, revenue was $23.2 million, with deferred revenue of $7.9 million at March 31, 2014 and $2.6 million at December 31, 2013.
Increase in quarter end deferred revenue compared to a year ago was attributable to the rapid increase in total orders, the Chinese New Year falling on a later date this year compared to last year and the labor strife on the U.S. West Coast.
The revenue estimate is preliminary and has not been reviewed by the Company’s independent accountants. Significant updates and revisions may be
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India’s Chamber of Commerce Seeks MLM Legislation
by Ramya Chandrasekaran • • 0 Comments
Sensing the need to regularise direct selling, the Federation of Indian Chamber of Commerce and Industry (FICCI) has urged the government to provide clarity. Shilpa Gupta, Head – Retail, FMCG, Luxury Gems & Jewellery, Direct Selling, FICCI, shares her views about the potential of this multi-level marketing model and the steps to regularise it.
How do you assess Direct Selling in India?
Direct selling is not new to India. Around the year 1995, many companies started with it; Amway was one of them. But the misfortune is that we only understand direct selling on the basis of one or two companies. In fact, there are so many companies in India today that are following this business model. In India, Direct Selling is a very old model of sales. For example, a cycle rickshaw peddler
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USD 1.1 billion Indian Direct Selling Industry Affected by Lack of Laws
by Ramya Chandrasekaran • • 0 Comments
Often mistaken for Ponzi schemes, the Rs,7200 crore (approximately USD 1.1 billion) direct selling industry has taken a blow in the absence of clear laws.
Gurgaon resident Harpreet Kaur, 49, completed her MPhil in psychology from Delhi University in 1988. But marriage came in the way before she could begin her professional career. She spent years as a homemaker before her brother-in-law introduced her to Amway’s direct selling business in 1998. Today, she and her husband boast of hundreds of distributors in their network, selling products worth over Rs.1 lakh a month. “There was a time when all I did was wait for my husband, who ran an electronics unit in Delhi, to return home. Today, both of us are entrepreneurs, and have flexible work hours,” says Kaur.
There are six million ‘direct sellers’
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Sozo Global Aquires New Technology
by Ted Nuyten • • 0 Comments
SOZO Global, Inc., an entrepreneurial direct selling company headquartered in Austin, Texas, USA acquires the exclusive global rights to distribute the Meridium® product from Bioactives Inc. within the direct selling industry.
SOZO is a healthy products company that is a curator of best-in-class nutritional technologies. Since its inception it has cultivated ingredients to formulate products grounded in science with powerful health-protective properties to help you live a fuller, more youthful life. The next addition to the global product line of SOZO is a 100% natural ingredient that has been clinically shown to have multiple health benefits – Lucedin™ xanthohumol.
Just like SOZO went to the source of the coffee fruit to get CoffeeBerry® extract, SOZO goes inside of a humulus lupulus plant to extract the xanthohumol ingredient. This ingredient works at the
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Sozo Global Aquires New Technology
by Ted Nuyten • • 0 Comments
SOZO Global, Inc., an entrepreneurial direct selling company headquartered in Austin, Texas, USA acquires the exclusive global rights to distribute the Meridium® product from Bioactives Inc. within the direct selling industry.
SOZO is a healthy products company that is a curator of best-in-class nutritional technologies. Since its inception it has cultivated ingredients to formulate products grounded in science with powerful health-protective properties to help you live a fuller, more youthful life. The next addition to the global product line of SOZO is a 100% natural ingredient that has been clinically shown to have multiple health benefits – Lucedin™ xanthohumol.
Just like SOZO went to the source of the coffee fruit to get CoffeeBerry® extract, SOZO goes inside of a humulus lupulus plant to extract the xanthohumol ingredient. This ingredient works at the
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PUR Attitude Pre-Launches In The USA
by Ted Nuyten • • 0 Comments
PUR Attitude, a new concept party plan company with a line of all natural, clinically proven and toxic-free skin care and wellness products has launched its line from their corporate headquarters in Miami, Florida, with its sights set on a Grand Opening in Miami in October 2015.
David Pollock, PUR Attitude’s Co-Founder and product inventor, has over 20 years of experience creating products for some of the most recognized names in the skin care industry, including Lancome, Bliss, Smashbox, SkinCeuticals / L’Oreal, the Art of Shaving and many others. He has been a trusted consultant to companies like Mary Kay, Shaklee, Reliv, and many others.
Throughout his career, he’s been Vice President at Home Shopping Network, Senior Management with Fuller Brush, Founder of Clinical Results laboratory and CEO of Hydron Technologies. David was named