Schedule 14A
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Usana Health Sciences Inc
Usana Health Sciences Inc. Watchdog Report ™ USNA (NYSE) | CIK:896264 | United States | SEC llings The new model for duciary analysis Sep 17, 2021 Jan 1, 2020 Jan 1, 2016 RECENT PERIOD HISTORICAL PERIOD Key Facts 10-Q led on Aug 11, 2021 for period ending Jul 2021 Business address: Salt Lake City, Utah, United States Reporting Irregularities RECENT HISTORICAL Industry: Medicinal and Botanical Manufacturing (NAICS 325411) Financial Restatements SEC ler status: Large Accelerated Filer as of Jul 2021 Index member: S&P 600, Russell 2000 Revisions Market Cap: $1.75b as of Sep 16, 2021 Out of Period Adjustments Annual revenue: $1.13b as of Jan 2, 2021 Late Filings Corporate Governance Impairments CEO: Kevin G. Guest since 2016 Changes in Accounting Estimates CFO: G Douglas Hekking since 2017 Disclosure Controls 1st level Internal Controls Board Chairman: Kevin G. Guest since 2020 Critical / Key Audit Matters Audit Committee Chair: NOT AVAILABLE 2nd level Anomalies in the Numbers RECENT HISTORICAL Auditor: KPMG LLP since 2013 Benford's Law Outside Counsel (most recent): Wilson Sonsini Goodrich & Rosati Parsons Behle & Latimer Beneish M-Score 3rd level Accounting Disclosure Complexity SEC Reviewer: (unknown) Securities & Exchange Commission Concerns 4th level RECENT HISTORICAL SEC Oversight SEC Letters to Management Revenue Recognition Non-GAAP Measures Litigation & External Pressures RECENT HISTORICAL Signicant Litigation Securities Class Actions Shareholder Activism Watchdog Research, Inc., offers both individual and group subscriptions, Cybersecurity data feeds and/or custom company reports to our subscribers. Management Review Subscribe: We have delivered 300,000 public company reports to over RECENT HISTORICAL 27,000 individuals, from over 9,000 investment rms and to 4,000+ public CEO Changes company corporate board members. -
Multilevel Marketing Diffusion and the Risk of Pyramid Scheme Activity: the Ac Se of Fortune Hi‐Tech Marketing in Montana Stacie A
Hamline University DigitalCommons@Hamline School of Business All Faculty Scholarship School of Business Spring 2015 Multilevel Marketing Diffusion and the Risk of Pyramid Scheme Activity: The aC se of Fortune Hi‐Tech Marketing in Montana Stacie A. Bosley Hamline University, [email protected] Kim McKeage Hamline University, [email protected] Follow this and additional works at: http://digitalcommons.hamline.edu/hsb_faculty Part of the Economics Commons, Marketing Commons, and the Public Policy Commons Recommended Citation Bosley, Stacie A. and McKeage, Kim, "Multilevel Marketing Diffusion and the Risk of Pyramid Scheme Activity: The asC e of Fortune Hi‐Tech Marketing in Montana" (2015). School of Business All Faculty Scholarship. Paper 2. http://digitalcommons.hamline.edu/hsb_faculty/2 This is the author's submitted copy before peer reviewed edits. The final, definitive version of this document can be found online at Journal of Public Policy & Marketing published by the American Marketing Association. Copyright restrictions apply. doi: 10.1509/jppm.13.086 This Article is brought to you for free and open access by the School of Business at DigitalCommons@Hamline. It has been accepted for inclusion in School of Business All Faculty Scholarship by an authorized administrator of DigitalCommons@Hamline. For more information, please contact [email protected]. 1 July 14, 2014 Stacie Bosley and Kim K. McKeage Forthcoming in the Journal of Public Policy and Marketing Multilevel marketing diffusion and the risk of pyramid scheme activity: The case of Fortune Hi-Tech Marketing in Montana Abstract While statisticians have simulated the expected rate of growth in pyramid schemes, this research examines actual data on the spread of an alleged pyramid scheme in Montana. -
A Company of Destiny We’Re on a Mission Today’S Economy Has Had a Devastating Effect on People’S Financial Futures
A Company of Destiny We’re on a Mission Today’s economy has had a devastating effect on people’s financial futures. Main Street families are under-insured, have too much debt and don’t believe they can save money for the future. Their needs – and their dreams – have been neglected and overlooked. They’ve never needed a champion more. Primerica helps Main Street families change their financial lives so they can dream again. “Earn the income of your dreams with Primerica.” Daniel & Karma Alonzo Ontario, California With the help of our incredible strategic partners, we offer real families real solutions. Primerica Life Insurance Company Primerica Life Insurance Company of Canada Offered by Primerica Client Services, Inc. through Primerica Life Insurance contractual agreement with LIFE 401(k) Company of Canada ® HEALTH INSURANCE PLANS INSURANCE ANNUITIES SEGREGATED PRIMERICA FUNDS DEBTWATCHERS™ MANAGED INVESTMENTS DEBT SOLUTIONS AUTO & HOME MUTUAL INSURANCE LONG FUNDS LEGAL REFERRAL PROGRAM TERM CARE PROTECTION Primerica Legal Protection Program Quotes from such PPLS Legal Care of companies as: Safeco and Progressive Canada Corporation The Lifetime Investment Platform is expected to be available in the second quarter of 2017. Not all products and services are available in all states, territories, the District of Columbia, or provinces. A representative’s ability to offer products from the companies listed is subject to state, provincial and federal licensing and certification requirements. Please refer to the Important Endnotes for additional details about the contractual arrangements and company affiliations detailed above. Auto and Home Insurance: In the U.S., offered through Primerica SecureTM, a personal lines insurance referral program in which representatives may refer individuals to Answer Financial Inc., which offers insurance products and services through its licensed affiliates. -
Chapter 7: MLM's Abysmal Numbers
7-1 The Case (for and) against Multi-level Marketing By Jon M. Taylor, MBA, Ph.D., Consumer Awareness Institute Chapter 7: MLM’s ABYSMAL NUMBERS Chapter summary a large enough downline to meet expenses, and therefore do not profit. Is MLM a profitable business These conclusions were confirmed in the opportunity? And if so, for whom? Just do the average earnings reports of all 30 MLMs for math – the numbers don't lie. In this and which we were able to obtain data published preceding chapters, you will find the most by the companies themselves. Such statistics rigorous and thorough analysis of MLM are invaluable for analysts to debunk the profitability ever done by an independent many misrepresentations that are told to research firm. Questions about the viability thousands of prospects every day. and profitability of MLM as a business model Failure and loss rates for MLMs are not and its many company manifestations are comparable with legitimate small answered in this and prior chapters – based businesses, which have been found to be on 15 years’ research, worldwide feedback, profitable for 39% over the lifetime of the and analysis of the compensation plans of business; whereas less than 1% of MLM over 350 of the leading MLMs, as well as participants profit. MLM makes even average earnings data, where available. The gambling look like a safe bet in comparison. answers are not pretty. MLM stocks are questionable Our studies, along with those done by investments at best. And like gambling, other independent analysts (not connected to losses from MLM participation should not be the MLM industry), clearly prove that MLM as a allowed as a tax deduction – beyond the business model – with its endless chain of amount of actual income. -
Lourdes Gonzalez, Assistant Chief Counsel, Division of Trading and Markets RE: Meeting with Representatives of Primerica DATE: May 10, 2018
MEMORANDUM TO: File Nos. S7-07-18, S7-08-18, S7-09-18 FROM: Lourdes Gonzalez, Assistant Chief Counsel, Division of Trading and Markets RE: Meeting with Representatives of Primerica DATE: May 10, 2018 On Monday, April 30, 2018 representatives of the Securities and Exchange Commission (“SEC”) participated in a meeting with representatives of Primerica. The SEC representatives were Roni Bergoffen, Lourdes Gonzalez, Brett Redfearn, and Emily Westerberg Russell from the Division of Trading and Markets. The Primerica representatives present were: Peter W. Schneider, President; Karen L. Sukin, EVP & Deputy General Counsel; and, Greg W. Thomas, Senior Vice President, Federal Government Relations. The participants discussed, among other things, the SEC’s proposed rules and interpretation relating to standards of conduct for investment professionals. The Primerica representatives also provided the attached power point. CONFIDENTIAL April 30, 2018 Attendees Agenda Peter Schneider, President About Primerica Primerica, Inc. • Our Impact • Our Approach Bill Kelly, CEO, Primerica Financial Services, Inc. SEC Rule Proposal: Topics for Discussion • Ri ghts of Action Karen Sukin, General Counsel, • Fin ancial In ce ntives Primerica Financial Services, Inc. • Impact on Offerings Greg Thomas, Senior Vice o " Best" Produ ct President, Primerica, Inc. o Clie nt Inquiries • Recordkee ping • Investment Adviso rs 2 124,000 life $757 billion insurance licensed of Term Life face representatives (l} amount in force (l} 24,000 mutual fund "'$59 billion licensed representatives (l) in cl ient asset va lues (l} (3,200 investment adviser representative) • Approximately 5,000 Primerica Regional Vice President businesses in the U.S., Canada and Puerto Rico !2l --- Buy Term Life 1nvest the Difference Term Life Insurance Products Investment & Savings Products through third-party providers underwritten by Primerica, Inc. -
Health & Wellness Report Q3 2017
1400 16% 14% 1200 14% 1,097 12% 1000 10% 800 7% 8% ($mm) 600 6% 487 6% 415 400 3% 4% 200 2% 34 0 0% Cognitive Cardiovascular Eye Health Digestive Health Health Health Size Expected CAGR 8 6 7 Financial 6 18% 4 4 2 3 - 1 1 - Strategic 82% Amount TEV/ TEV/ Date Target Buyer(s) Segment ($ in Mil) Rev EBITDA 9/29/2017 Koios LLC Super Nova Petroleum Corp. Vitamins, Minerals, & $3.00 - - Supplements 9/27/2017 Bird & Cronin, Inc. Dynatronics Corp. Personal Care $15.50 - - 9/21/2017 iGalen International, Inc. Holista CollTech Ltd. Vitamins, Minerals, & $0.00 - - Supplements 9/5/2017 Therapeutic Research Center LLC Levine Leichtman Capital Partners, Lifestyle Companies $172.00 - - Inc.; Therapeutic Research Center LLC 8/20/2017 Back To Nature Foods Co. LLC B&G Foods North America, Inc. Natural & Organic Foods $162.50 - - 8/14/2017 Williamson-Dickie Mfg. Co. VF Corp. Lifestyle Companies $820.00 0.94x - 8/1/2017 Novel Ingredient Services LLC Innophos Holdings, Inc. Natural & Organic Foods $125.00 - - 7/26/2017 ZEN HERO, Inc. Michael James Enterprises, Inc. Natural & Organic Foods $0.85 - - 7/14/2017 Lucille Roberts Health Clubs, Inc. Town Sports International Holdings, Lifestyle Companies $0.95 - - Inc. Strategic Buyer Inv. Date Select Corporate Acquisitions Brunswick Corporation 7/20/2017 ▪ Lankhorst Taselaar BV 11/18/2016 ▪ Payne's Marine Supply, Inc. 8/31/2016 ▪ Indoor Cycling Group 7/5/2016 ▪ Thunder Jet Boats Inc. 1/20/2016 ▪ Cybex International Inc. Hi-Tech Pharmaceuticals 6/19/2017 ▪ Top Secret Nutrition LLC 10/5/2016 ▪ Tribravus Enterprises 10/5/2016 ▪ Prime Nutrition 4/28/2016 ▪ Gaspari Nutrition Inc. -
Companies-Titles of Registrants
Direct Selling Companies Registered for the 2009 Communications & Internet Marketing Seminar As of 10/19/2009 4Life Research, LC LifeWave, LLC 5LINX Enterprises, Inc. Livinity, Inc. ACN, Inc. Mannatech, Inc. Aerus LLC (formerly Electrolux LLC) Nature's Sunshine Products, Inc. Aloette Cosmetics Nu Skin Enterprises Amazon Herb Company Oxyfresh.com Amway The Pampered Chef Arbonne International PartyLite Gifts, Inc. Avon Products, Inc. Premier Designs, Inc. Celebrating Home Princess House, Inc. Conklin Company, Inc. Regal Ware, Inc. Cookie Lee, Inc. Reliv International, Inc. Creative Memories Rena Ware International, Inc. CUTCO/Vector Marketing Corporation Saladmaster, Inc. (Regal Ware, Inc.) Demarle At Home, Inc. Scentsy, Inc. Discovery Toys, Inc. Sensaria Natural Bodycare, Inc. Dove Chocolate Discoveries Shaklee Corporation Earth's Elements Signature HomeStyles Entertaining at Home Silpada Designs Essential Bodywear Simplexity Health For Every Home The Southwestern Company Fortune Hi Tech Marketing Sozo Global, LLC FreeLife International Stampin' Up! FreedomRocks Sunrider International Gold Canyon SwissJust Herbalife International of America, Inc. Symmetry Corporation HomeTec Syntec, Inc. Isagenix International Take Shape for Life, Inc.-Medifast Jafra Cosmetics International, Inc. Team National Kangevity Global Thrivent Financial at Home The Kirby Company Touchstone Crystal, Inc. L'Bel Paris USANA Health Sciences, Inc. L'Bri Pure N' Natural Vantel Pearls in the Oyster Lia Sophia XanGo LLC Who’s Attending? Following is a sampling of the titles of direct selling executives registered for the meeting. Brand Manager Policy Compliance Supervisor CEO PR Strategist Chief Marketing Officer President Communications Coordinator Representative Services Communications Spanish Specialist Sales Support Specialist Copywriter Senior Corporate Communications Manager Creative Director Senior Manager of Design Direction Director of Public Relations/Social Media Senior Sales Support Specialist Director of Sales & Marketing Senior Writer Director, Information Systems Sr. -
Nature's Sunshine Products Inc
Nature's Sunshine Products Inc. Watchdog Report ™ NATR (NASDAQ Capital) | CIK:275053 | United States | SEC llings The new model for duciary analysis Oct 1, 2021 Jan 1, 2020 Jan 1, 2016 RECENT PERIOD HISTORICAL PERIOD Key Facts 10-Q led on Aug 5, 2021 for period ending Jun 2021 Business address: Lehi, Utah, United States Reporting Irregularities RECENT HISTORICAL Industry: Pharmaceutical Preparation Manufacturing (NAICS 325412) Financial Restatements SEC ler status: Accelerated Filer as of Jun 2021 Index member: Russell 2000 Revisions Market Cap: $292m as of Sep 30, 2021 Out of Period Adjustments Annual revenue: $385m as of Dec 31, 2020 Late Filings Corporate Governance Impairments CEO: Terrence Moorehead since 2018 Changes in Accounting Estimates CFO: Joseph W. Baty since 2016 Disclosure Controls 1st level Internal Controls Board Chairman: J. C. Teets since 2019 Critical / Key Audit Matters Audit Committee Chair: NOT AVAILABLE 2nd level Anomalies in the Numbers RECENT HISTORICAL Auditor: Deloitte & Touche LLP since 2007 Benford's Law Outside Counsel (most recent): Dorsey & Whitney LLP 3rd level Beneish M-Score Accounting Disclosure Complexity SEC Reviewer: Suzanne Hayes 4th level Securities & Exchange Commission Concerns RECENT HISTORICAL SEC Oversight SEC Letters to Management Revenue Recognition Non-GAAP Measures Litigation & External Pressures RECENT HISTORICAL Signicant Litigation Securities Class Actions Shareholder Activism Watchdog Research, Inc., offers both individual and group subscriptions, Cybersecurity data feeds and/or custom company reports to our subscribers. Management Review Subscribe: We have delivered 300,000 public company reports to over RECENT HISTORICAL 27,000 individuals, from over 9,000 investment rms and to 4,000+ public CEO Changes company corporate board members. -
Program of Events
D IRECT S ELLING A SSOCIATION Program of Events June 9-11, 2013 | Phoenix | http://annualmeeting.dsa.org Saturday, June 8 9:00 a.m. – 10:30 a.m. DSEF Executive Committee Meeting Desert Suite II 10:30 a.m. – Noon DSEF Joint Communications & Development Desert Suite I LANCE Committee Meeting 11:00 a.m. – 1:00 p.m. DSA Executive Committee Meeting Desert Suite VII G Noon – 7:00 p.m. DSA Registration Open Grand Canyon Ballroom Foyer A 1:00 p.m. – 3:00 p.m. DSA Board of Directors Meeting Grand Sonoran Ballroom F 1:00 p.m. – 6:00 p.m. Exhibitor Set-Up Grand Canyon Ballroom 3:30 p.m. – 5:30 p.m. DSEF Board of Directors Meeting Grand Sonoran Ballroom F AT 6:00 p.m. – 7:00 p.m. DSA Supplier Reception Grand Sonoran Ballroom A-B 7:00 p.m. – 8:00 p.m. DSA/DSEF Board of Directors Reception Wildflower Salon A 8:00 p.m. – 10:00 p.m. DSA/DSEF Board of Directors Dinner Wildflower Salon B&C Sunday, June 9 7:00 a.m. – Noon DSEF Golf Tournament Wildfire Golf Club 8:00 a.m. – 1:00 p.m. Exhibitor Set-Up Grand Canyon Ballroom CHEDULE 8:00 a.m. – 9:00 p.m. DSA Registration Open Grand Canyon Ballroom Foyer S Noon – 9:00 p.m. Cyber Café Open Grand Canyon Ballroom Foyer 12:30 p.m. – 3:00 p.m. WFDSA Board of Directors Meeting Desert Suite IV 1:00 p.m. – 3:00 p.m. -
Network Marketing Central, 9 Feb
www.GerriSonger.com Marketing Networks 1 Top 50 MLM Companies by Global Revenue Avon Products (avon.com) Beauty, fashion Menard Japan Cosmetics (menard- jewelry, apparel - $11.3B cosmetic.com) skin care, makeup, body care Amway (amway.com) primarily in the health, fragrances - $434M beauty, and home care markets - $10.9B Cosway Corp. Ltd. (cosway.com.my) Herbalife (herbalife.com) develops, markets and supplements, skin care, personal care, sells nutrition supplements, weight management, cosmetics, household products, car care, food sports nutrition and personal-care product - and beverage, clothing - $433M $3.5B DXN Holdings Berhad (dxn2n.com) food and Natura Cosmeticos (natura.net) Cosmetics and beverage, home décor, kitchenware, home care personal care - $3.0B - $420M Vorwerk & Co. (vorwerk.com) Cosmetics, For Days Co. (fordaysusa.com) cosmetics, food household appliances, home care - $3.0B and beverage, wellness - $400M Mary Kay (marykay.com) cosmetics products - KK ASSURAN skin care - $370M $2.0B Better Way Co. (mistine.co.th) cosmetics - Tupperware Brands Corp. (tupperware.com) $370M storage and serving products, beauty, personal Nature's Sunshine Products care - $2.6B (naturesunshine.com) herbal supplements, Oriflame Cosmetics (oriflame.com) hair, skin vitamins, minerals and nutritional supplements - and personal care, color cosmetics, fragrances $368M $2.1B WIV Wein International (wiv-ag.com) wines Nu Skin Enterprises (nuskin.com) develops and $365M sells personal care products and dietary *Arbonne International, LLC (arbonne.com) supplements - $1.7B skincare, bath & body, hair, sun, makeup, and Belcorp (belcorp.biz) cosmetics and personal nutrition products - $353M care - $1.6B Southwestern/Great American, Inc. Primerica Financial Services (primerica) (southwestern.com) family-oriented educational insurance and financial services company - reference books and software - $353M $1.1B Neways (neways.com) personal care products, Ignite Inc. -
10813 South River Front Parkway, Suite 460 South Jordan, Utah 84095 Telephone: (801) 302-2255 Facsimile: (801) 302-2266 Email: [email protected]
Case 2:09-cv-00259-TC Document 1 Filed 03/23/2009 Page 1 of 64 Joseph J. Joyce (Bar No. 4857) William A. Sankbeil(admitted in Michigan, Clint A. McAdams (Bar No. 11156) filing pro hac vice) J. JOYCE & ASSOCIATES Joanne Geha Swanson(admitted in Michigan, 10813 South River Front Parkway, Suite 460 filing pro hac vice) South Jordan, Utah 84095 KERR, RUSSELL AND WEBER, PLC. Telephone: (801) 302-2255 500 Woodward Avenue, Suite 2500 Facsimile: (801) 302-2266 Detroit, MI 48266-3406 Email: [email protected] Telephone: (313) 961-0200 Facsimile: (313) 961-0388 Email: [email protected] Sharon M. Woods (admitted in Michigan, filing pro hac vice) Morley Witus (admitted in Michigan, filing pro hac vice) BARRIS, SOTT, DENN & DRIKER, PLLC 211 W. Fort Street, 15th Floor Detroit, MI 48226 Telephone: (313) 965-9725 Facsimile: (313) 965-2493 Email: [email protected] Attorneys for Plaintiffs IN THE UNITED STATES DISTRICT COURT DISTRICT OF UTAH, CENTRAL DIVISION GEORGE and JILL GUZZARDO, MARK and RITA HAAS, MARK and ANNA HUBER, PROPOSED CLASS ACTION WILLIAM and JACQUELINE LEWIS, MARK Case No. and JENNIFER PAUL, CURTIS and DEBORAH SPOLAR, DOUGLAS and SHERYL STROH, PLAINTIFFS’ CLASS ACTION LARRY and MARTHA VAN BUSKIRK, COMPLAINT MATTHEW and CHERYL ABRAHAM, JURY DEMANDED MANASE and LISA FOTU, TERRY and MARJORIE FRANKS, DEAN and TERESA FREY, MICHAEL and VIOLA GOWEN, GERALD and PAULETTE HARTEIS, individually and on behalf of a class of similarly situated persons and entities, Plaintiffs, {34078\1\DT377384.DOC;1} Case 2:09-cv-00259-TC Document 1 Filed 03/23/2009 Page 2 of 64 v. -
(And Your Team) Into Massive Action
4 Simple Steps to Activate Your Passion and Move Yourself (and Your Team) Into Massive Action Created by Sonia Stringer www.SavvyNetworkMarketingWomen.com About Sonia Stringer – "THE Business Coach for Women" Professional Speaker / Business Coach / Mentor Sonia Stringer coaches women in the network marketing/direct sales profession to “make big money and a bigger difference for others” through your business. Sonia started her career as a professional musician (yes, she played in a rock band…) in Vancouver, Canada but it wasn’t long before a love of business, psychology and "making a difference" led her to work with peak performance expert Anthony Robbins as a National Sales Trainer. Over the next 4 years, Ms. Stringer traveled extensively throughout the US and Canada, to personally conduct 800+ seminars for Fortune 500 corporations, sharing cutting-edge influence and leadership techniques to successful executives and entrepreneurs. Her authentic, heart-centered approach to business development has made her the “go to gal” for women who want to make great money and a better lifestyle for themselves and their families. She currently leads Savvy Network Marketing Women.com – an on-line community which provides tips, tools, and training to more than 100,000 women from network marketing/direct sales companies around the world. She has mentored consultants at all levels in many companies, including Arbonne, Rodan & Fields, Mary Kay, Stella & Dot, Isagenix, Silpada, Monavie, Pampered Chef, Southern Living, Mannatech, Shaklee, NuSkin, Neways, Trump Network, Max, Primerica, Herbalife, Univera, Melaleuca, Nikken, Reliv, Amway, Nature’s Sunshine, Market America, Sunrider, Thirty-One Gifts, Usana, Beauti Control, Avon, and Pre-Paid Legal, and It Works.