CVSL, which acquires and improves the operations of small direct selling businesses, withdrew its plans for a public offering on the NYSE MKT on Friday. It is currently traded on the OTCQX Marketplace under the symbol CVSL and commands a market cap of about $350 million. It first filed in May and planned to raise $60 million in November. While the company has withdrawn its plans for an equity raise, it still plans to uplist to a major exchange within the next several trading days.
CVSL is controlled by Chairman and CEO John Rochon, the former head of Mary Kay. Its nine portfolio companies’ industries include home improvement, gourmet foods, skin care and nutritionals. CVSL builds these independent businesses using its expertise in e-commerce, social media and micro-enterprise strategy as well as bringing efficiencies in finance, IT and the supply chain.
The Plano, TX-based company was founded in 2007 and booked $89 million in sales for the 12 months ended September 30, 2014. It had planned to list on the NYSE MKT under the symbol CVSL. Cantor Fitzgerald, JMP Securities and Janney Montgomery Scott were set to be the joint bookrunners on the deal.
The article Direct selling company CVSL withdraws $60 million equity raise originally appeared
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Possible New Utah Legislation May Affect Utah Based MLM Companies
by Tina Williams • • 0 Comments
The assistant attorney general in charge of protecting the Utah Division of Consumer Protection from overly curious consumers says he believes in the principle of “innocent until proven guilty.” Which, of course, he should.
But it might come as a surprise to the many other state and local prosecutors across Utah that Assistant A.G. Chè Arguello defines that principle as justifying a state law that keeps confidential all the consumer complaints the division receives, until and unless that agency actually takes some enforcement action against a company.
Were that the usual standard, there would be no public reporting of the names of, or evidence against, anyone accused of murder or theft until after they had been found guilty in court. Wouldn’t want to unfairly besmirch the name of anyone who hadn’t actually been convicted, now would we?
The State Records Committee last week upheld Arguello’s argument and allowed the Consumer Protection Division to continue to sit on any and all complaints lodged against a Provo-based multi-level marketing outfit called Wake Up Now. Because, apparently, state law on the matter is clear.
Which is why the Utah Legislature should change that law, and make such Consumer Protection Division records open to the public.
The matter was raised by a national nonprofit consumer watchdog called Truth in
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LIMU Donates $15,000 For Challenge Match To Aid The Orlando Union Rescue Mission
by Nicole Dunkley • • 0 Comments
LIMU recently donated $15,000 to the Orlando Union Rescue Mission – a community non-profit group focused on helping homeless families and individuals – as part of its ongoing support of the organization.
LIMU is privileged to be one of the largest financial contributors to OURM over the last 11 years, and the Rescue Mission will use the donation for a Challenge Match campaign that will help donors double the impact of their contributions throughout the month of December. A similar donation from LIMU in 2013 helped OURM increase its donations by +47% vs. the previous year.
Beyond donating funds to OURM, LIMU has also helped the organization upgrade their kitchen facilities and LIMU Corporate employees volunteer to help serve as many as 1,500 meals to homeless men, women and children at the Rescue Mission’s Annual Thanksgiving Banquet. Last week marked the 11th year of LIMU involvement in that hands-on effort, with LIMU staff representing the hundreds of thousands of LIMU Promoters through the company’s LIMU GIVES charitable initiative.
“LIMU is really an endless ‘pay it forward’ business model – which means an endless train of grace, thankfulness and compassion – and I’m proud to recognize that our LIMU Corporate staff embodies that
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Autumn Statement 2014: Funding for Lending scheme extended
by Successful IBO • • 0 Comments
Chancellor George Osborne has announced an extension of the Funding for Lending scheme, which underwrites loans to businesses, for another year to January 2016.
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Autumn Statement 2014: Call for shake-up on business rates
by Successful IBO • • 0 Comments
Business rates need to be linked to the turnover of a company to stop entrepreneurs behind SMEs from being taxed the same as large businesses, according to a prominent entrepreneur.
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WorldVentures Will Take Norway To Court
by Nicole Dunkley • • 0 Comments
This past Friday, WorldVentures received the unexpected decision of the Norwegian Gaming Board that requires the company to cease all business operations in Norway. WorldVentures will now seek an injunction, and have filed notice of this on Friday.
Needless to say, this outcome is disappointing. “As a global award-winning leader in the leisure travel industry and a responsible Inc 5000 direct sales company, we are dedicated to comply with all laws and regulations,” says Steinar Husby who is the Norwegian press contact for WorldVentures.
The Company took extensive legal advice and adjusted their business model and materials in line with that advice when they entered the Norwegian market. Legal advice and opinion was based on the case law and precedent available at that time. During the last 18 months, WorldVentures has focused on keeping an open and constructive dialogue with the Norwegian Gaming Authority and Gaming Board.
WorldVentures has co-operated with the authorities and Gaming Board in the investigation, providing all required documentation and information on business practices.
“It is therefore beyond our understanding how the Board could reach such a conclusion based on the material provided. Deeply disagreeing with the Board’s ruling, we will now take this to the Norwegian court room, where
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Talk Fusion Russian Associates Ring In 2015 With Global Event
by Nicole Dunkley • • 0 Comments
In 2015, Talk Fusion Russian Leaders are starting the year off right with the Diamond Lifestyle Event in Yekaterinburg, Russia, the country’s fourth largest city and capital of the Urals Region. This year they will be more motivated than ever to change lives and set high goals for their teams to climb the ranks and earn top incentives.
Associates from across Europe will flock to the “Ural” Culture Center on January 9 – 10 for two days of excitement, motivation, awards and recognition, plus the chance to energize their efforts for the coming year.
They will meet and network with a powerful array of special guests, including Grand Blue Diamond Cedric Penn, Blue Diamond Natalya Tarkhova, and Diamond Elite Anna Tsarnenko, along with an impressive group of Diamond, Double Diamond, and Triple Diamond Associates from throughout the area.
“Talk Fusion has such huge, endless potential for growth with development in more than 140 countries! It is a great opportunity to help anyone, from anywhere in the world, carry out their dreams,” said Natalya Tarkhova. “So much can happen when you follow the system and believe in your success.”
The event is hosted by Diamond Associates Elena Gilevich and Elvira Eleskhanova. Elena and Elvira
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LifeVantage Opens Corporate Office In Hong Kong
by Nicole Dunkley • • 0 Comments
LifeVantage Corporation, announced the opening of a brand new, state-of-the-art office facility in the Empress Plaza, Hong Kong. This new facility was designed to provide a central location where Distributors can host business-building meetings and conduct training events.
We anticipate the office will also allow for a more expedited process for purchasing and receiving LifeVantage products in the Hong Kong region. The opening of the corporate office in Hong Kong coincides with the two-year anniversary of the company’s expansion into the Hong Kong market.
“We are making this significant investment in the Hong Kong market to facilitate the growth of the business in a sustainable manner,” said LifeVantage President and Chief Executive Officer Douglas C. Robinson.
“We continue to be excited about our presence in the Hong Kong market and remain committed to our pledge of providing world-class support to the Distributors in the market, and our Asia Pacific region at large.”
About LifeVantage Corporation
LifeVantage Corporation, is a science based network marketing company that is dedicated to visionary science that looks to transform health, wellness and anti-aging internally and externally at the cellular level. The company is the maker of Protandim®, the Nrf2 Synergizer® patented dietary supplement, the TrueScience™ Anti-Aging Skin Care
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From Employee to Freelancer: How to Cautiously Make the Leap
by Holly - The Work at Home Woman • • 0 Comments
By Holly Reisem Hanna Hi Holly, At the beginning of the year I will be making a huge switch from my full time position to freelance in order to get rid of my long commute and be closer to home and my two year old. To say I am nervous for the transition is an […]
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LIMU 1M Promoters Shannon And Rachetté Pardue Surpass $7 Million In Earnings At LIMU
by Nicole Dunkley • • 0 Comments
Industry veterans Shannon and Rachetté Pardue from Louisiana recently surpassed $7 Million in earnings – all at LIMU and the first to do so at the direct sales company. LIMU’s first ever 1M Promoters, the Pardues have been with LIMU since it was founded in 2004, and have become multi-millionaires through their efforts.
“In my 25+ years in the industry, I have seen just how rare it is for people to earn $7 Million in one company. That is particularly impressive given that this couple joined me with absolutely no previous experience,” says Gary J. Raser, Founder, President and CEO of LIMU. “I am tremendously proud of the Pardues and their success.”
The Pardues joined LIMU at its inception and have built a significant team all across the U.S. And they work closely with that team, crisscrossing the country on a regular basis to hold LIMU Experience parties and trainings. Always on the move, they continue to create strong momentum and say that’s the secret to their success.
“We were working in the construction industry and we were new to direct sales when we started, but the combination of amazing products that work and the LIMU Experience that appeals to everyone helped us