Showing posts with label business opportunity. Show all posts
Showing posts with label business opportunity. Show all posts
Friday, December 14, 2012
USANA - Myron Wentz Sells $30 Million in Stock In Last 30 Days
USANA Health Sciences, Inc (USNA) took a dive today dropping $4.43 (10.58%) to $37.44. In the last 30 days, Myron Wentz (Founder of USANA) sold $30.3 million in stock. No mention of this has been made in the news, but I think someone has been selling on insider information. Also don't forget about the Citron report on the illegal recruiting of Chinese Nationals into USANA's MLM business opportunity. That could very well play a role in this drop today as well.
Thursday, November 29, 2012
Citron Research Reveals Evidence of USANA's Illegal Activities In Mainland China
Citron Research has just backed up everything I have written about USANA's fraudulent China activities. They even have undercover investigative evidence! Be sure to read the full investigative report! Allegations are that USANA has been illegally recruiting Chinese Nationals into their Hong Kong MLM compensation plan.
For additional information regarding the allegations of USANA's fraudulent China activities, read through my blog and you will find several years of information revealing it all!
For additional information regarding the allegations of USANA's fraudulent China activities, read through my blog and you will find several years of information revealing it all!
Tuesday, September 11, 2012
USANA Executives Sell Millions of Dollars Worth of Stock
Myron Wentz sells $4,735,010 worth of stock in the last couple days (Sept 12 and 14). So I will update the figures below with the latest data. Someone should ask USANA to disclose what days the company repurchases the stock. Today it appears Myron Wentz sold his stock at the last 15 minutes of trading. (Update Sept 14, 2012)
Over the past couple weeks USANA's CEO Dave Wentz sold $2,960,088 of his stock.
Since the beginning of 2012, USANA executives have sold a total of $14,573,605 in stock. They have purchased $0.
| Wentz Dave | $2,960,088.00 |
| Wentz Myron W | $8,616,930.00 |
| Macuga Daniel A. | $515,973.30 |
| Woo Deborah | $500,436.24 |
| McClain Jerry G | $103,737.70 |
| Guest Kevin | $970,099.00 |
| Iiekking G Doug | $348,718.20 |
| Fuller Gilbert A | $164,095.00 |
| Bramble James | $196,329.00 |
| Truett Roy | $197,199.00 |
And I'd like to remind the readers how Dave Wentz responded during a past conference call:
John San Marco at Janney Montgomery Scott LLC:
"Do you know what the percentage of your Hong Kong associates that are actually Chinese nationals?"
Dave Wentz replies back with:
"We definitely have a number of people who are building in Hong Kong. We do not have a percentage or have a number that we could point to with any accuracy."
Also this Internal USANA Memo that admits to sending product to mainland China:
"IV. What is the biggest market that buys our products that we are not eligible to operate in?
i. Once again I couldn’t give you an exact answer on this. Since I work with our Asian markets, I know that a large sum of product ends up in China, but I’m sure product somehow gets shipped to other unauthorized markets as well…"
And also what USANA's ex-president Fred Cooper stated:
"we have a large group of Asian Associates who are involved with USANA only because of the products and are buying in Hong Kong for consumption only."
So USANA executives are fully aware of the Chinese Nationals that are recruited into USANA's MLM compensation plan through Hong Kong China. And has I have written about for years, the ratio of USANA distributors in Hong Kong to citizens in Hong Kong is about 1 in 100. That's a major red flag. Now USANA admits to the recruiting of mainland China citizens. The problem here is, it is AGAINST CHINA'S LAW for any of their citizens to participate in MLM. Why is that? MLM is against the law in China. So USANA is knowingly circumventing foreign laws and the SEC should investigate this matter.
As I have stated before, I believe that if you remove the net revenue generated by these illegal distributors, USANA would no be growing, but actually declining!. Thus, the stock price would be far lower. I believe the stock price is grossly inflated because of the illegal recruiting of Chinese Nationals and believe the executives selling their shares at these inflated prices could land them in hot waters.
It would be very interesting to find out how many USANA distributors are illegal recruits from foreign territories that restrict MLM from operating in their own borders.
Monday, September 20, 2010
USANA'a Hong Kong active associate numbers may begin declining because of BabyCare Ltd.
Now that USANA Health Sciences owns BabyCare Ltd in China, will USANA continue to recruit Chinese Nationals into their Hong Kong market? Currently, China has outlawed Multilevel Marketing because they consider it to be a pyramid scheme. Only Single Level direct selling is allowed. Distributors are not allowed to recruit additional distributors.
It appears that USANA and their distributors have been recruiting people from mainland China into their Multilevel Marketing business opportunity through their Hong Kong market. As I pointed out in a previous blog posting regarding USANA's active associates per territory, USANA's Hong Kong territory reveal that 1 in every 135 Hong Kong citizens are active distributors in USANA's business. That's very suspicious when you consider that USANA's United States market has 1 in every 5436 American citizen as an active Usana distributor.
So if USANA's Hong Kong territory has been used to funnel profits to USANA through illegal means (recruiting people from mainland China), and now USANA owns BabyCare Ltd, will those mainland Chinese distributors who joined USANA illegally leave USANA and join BabyCare Ltd instead? I believe this may be the case. This would mean that USANA's Hong Kong active associate figures will begin to drop. Keep in mind, people living in Hong Kong would not be able to join BabyCare Ltd because Hong Kong is not part of mainland China. Now if USANA believes their Hong Kong active associate numbers are going to decline as a result of BabyCare Ltd, then USANA has a responsibility to inform their shareholders since it is a material matter.
Regardless, I firmly believe there is sufficient evidence for a SEC investigation of USANA's distributor recruiting in their Hong Kong territory. I believe this is a SEC issue because if illegal distributor activities within a foreign country such as China is confirmed, it may account for a very substantial amount of USANA's net revenues and gross profits. If this is truly the case, then shareholders may suffer massive loses in their investment in USANA's stock. Another consequence will be a damaging blow to the auditing firm PriceWaterHouseCoopers' reputation since they have been notified of this matter almost a year ago.
I would ask that anyone with additional information or evidence please email me. Your identity will not be revealed.
UPDATED September 21, 2010 at 7:47 PM:
If USANA's management HYPOTHETICALLY told an investment firm that they are expecting Hong Kong active associate numbers to be lower because of BabyCare Ltd, but did not make this statement publicly to all shareholders, does this violate SEC laws due to insider trading?
It appears that USANA and their distributors have been recruiting people from mainland China into their Multilevel Marketing business opportunity through their Hong Kong market. As I pointed out in a previous blog posting regarding USANA's active associates per territory, USANA's Hong Kong territory reveal that 1 in every 135 Hong Kong citizens are active distributors in USANA's business. That's very suspicious when you consider that USANA's United States market has 1 in every 5436 American citizen as an active Usana distributor.
So if USANA's Hong Kong territory has been used to funnel profits to USANA through illegal means (recruiting people from mainland China), and now USANA owns BabyCare Ltd, will those mainland Chinese distributors who joined USANA illegally leave USANA and join BabyCare Ltd instead? I believe this may be the case. This would mean that USANA's Hong Kong active associate figures will begin to drop. Keep in mind, people living in Hong Kong would not be able to join BabyCare Ltd because Hong Kong is not part of mainland China. Now if USANA believes their Hong Kong active associate numbers are going to decline as a result of BabyCare Ltd, then USANA has a responsibility to inform their shareholders since it is a material matter.
Regardless, I firmly believe there is sufficient evidence for a SEC investigation of USANA's distributor recruiting in their Hong Kong territory. I believe this is a SEC issue because if illegal distributor activities within a foreign country such as China is confirmed, it may account for a very substantial amount of USANA's net revenues and gross profits. If this is truly the case, then shareholders may suffer massive loses in their investment in USANA's stock. Another consequence will be a damaging blow to the auditing firm PriceWaterHouseCoopers' reputation since they have been notified of this matter almost a year ago.
I would ask that anyone with additional information or evidence please email me. Your identity will not be revealed.
UPDATED September 21, 2010 at 7:47 PM:
If USANA's management HYPOTHETICALLY told an investment firm that they are expecting Hong Kong active associate numbers to be lower because of BabyCare Ltd, but did not make this statement publicly to all shareholders, does this violate SEC laws due to insider trading?
Tuesday, August 10, 2010
USANA's 10 Reasons Why You Should Join USANA and My 10 Responses To Them
USANA Health Sciences, Inc. has a section on their website that lists 10 reasons why to have a home-based business with USANA. I will list each one of them and explain why I believe they are not true.
- New associates are also required to activate their business center(s) before they are considered “Active” and be eligible to collect commission. To activate a 1-Business Center plan, associates need to personally purchase about $180 worth of product. To activate a 3-Business Center plan, associates need to personally purchase about $540 worth of product. These Personal Sales Volume (PSV) purchases do not pay out any commission to the new associate even if resold to a retail customer, however the associate's upline will get paid a commission from your purchase.
- While USANA claims there are no inventory requirements, there are mandatory PSV purchases that associates must make every 28 days depending on the number of business centers they have. For a single business center, this is about $120 every 28 days that the associate must personally purchase. If the associate fails to make this purchase, the associate loses their "Active" status, is stripped of any Group Sales Volume (GSV) that has accumulated up to that point, and is not eligible to collect any commission from their preferred customers or downline associate's purchases. So yes, there is an inventory requirement. This is why it pays to recruit new associates instead of retailing product.
- USANA's compensation plan is extremely complex, contains vast amounts of requirements that are difficult to follow and understand, and is designed to fail over 90% of participants no matter how hard they try.
- USANA's claim that you can start earning commissions in your first week "simply by sharing the products with others and ordering some for yourself" is not true. Sharing the products with others implies the associate is giving away samples or even selling product from the associate's own inventory purchases. Don't be fooled however! Associates are not paid any commission from the PSV purchases that USANA requires them to make every 28 days. If a new associate joins, activates a single business center by personally purchasing $180 worth of product, and shares these products with others, that associate will not be paid a dime in commission. In order to be paid a commission like USANA claims, you would have to recruit at least 2 new associates in your downline who spend over $250 each, or find about 5 preferred customers who each purchase $100 worth of product during your first week (Both scenarios will pay you $40 in commission). BTW, there are 1 active preferred customer for every 3 active associates. Good luck on the preferred customers because they have been on a downward spiral!
- 99% of USANA associates never make a profit. This incredible earning potential only applies to those who inact boiler room recruiting tactics, unethical doctors peddling USANA products to patients, and those who have gotten in very early on. Of course someone can join today and make a fortune by recruiting their church's congregation into their downline by placing undue pressure on the church members (See Operation Promise Land).
- It is not a business unless you are out retailing USANA's products. Unfortunately, very few associates do so. The real operation is to sell the business opportunity and recruit more and more associates into the scheme. You can be sure that all of USANA's big shot associates making hundreds of thousands of dollars are all doing so because they have a massive downline of associates in their business centers, not because they retail millions of dollars worth of product to customers. It's not about selling the product, it's about selling the dream of making money. You sell the dream of becoming rich and the products are purchased automatically because it is a requirement to purchase in order to participate!
- USANA is in front of you every step of the way. USANA associates must purchase overpriced product every 28 days in order to participate in the opportunity. Because the distributor's prices and the preferred customer's prices are the same, there is no profit margin that can be made on selling the product retail. Then USANA takes 45% of the money you just paid them and gives the vast majority of it to the 1% of associates that are at the top of the pyramid scheme. However, the bottom 99% of associates never make enough of see a profit. USANA's heading for this section would be more accurate if it read "You're in Business for Your Upline, Not for Yourself".
FALSE
- New associates don't stand a chance at doing business internationally. This is because the big shot associates (top 1%) already have their feet planted firmly in new territories just prior to the official openings. What USANA really means by their statement here is that there are no territorial boundaries in which you can recruit preferred customers or new associates. In other words, everyone in your neighborhood could become an associate just like you, and if they are not in your downline, then you are pretty much out of luck. But consider this, if 25 different McDonalds restaraunts existed on a single block, would any of them make a profit? No, of course not. In fact, they would all go out of business except one. That last remaining McDonalds would then be able to profit and stay in business. This dilemma is known as over saturation. USANA wants to pretend as though saturation does not apply to their recruitment operation.
- About 99% of the world cannot afford USANA's expensive products. If USANA did not force its associates to purchase over $100 worth of product every 28 days to participate in the compensation plan and be eligible for commission, then USANA would vanish because the people who would purchase the product would be those who actually want it. Associates who quit the business opportunity also quit purchasing USANA products. Over the past 18 years, USANA has had over one million associates. However, only 210,000 are considered "Active" as of July 2010. Most of these currently active associates joined within the past year. Thus, over 80% of USANA associates left the business opportunity and also stopped purchasing the product. This is indicative of the fact that the net sales for USANA change proportional to the number of currently active associates. USANA is NOT poised to meet the world's needs.
- USANA spends less than 1% of net sales in Research and Development. Simply readjusting dosages in their products is not innovative. As far as quality goes, USANA claims to manufacure according to Pharmaceutical GMP. However, USANA refuses to allow any agency or organization to test USANA's facility according to Pharmaceutical GMP. Only the standard Food GMP has been tested at USANA's facility. Manufacturers like USANA can claim to manufacture according to drug standards, but never have to prove it because they are not required to. You cannot call yourself a leader in "Quality" when you refuse to allow testing of your products to the Pharmaceutical GMP quality like USANA claims. BTW, in order to be Pharmaceutical GMP like drugs have to be, USANA's ingredients would have to be exactly 100% to what they claim is in the pills. Not 10% over or 10% under. Can you imagine a prescription drug that calls for exactly 30 mg is slightly over or under the printed dosage
- The Direct Selling Association has no credibility. The DSA board members consist of executives from Multilevel Marketing companies, not Direct Selling companies. The hijacking of the association has destroyed the credibility of network marketing by promoting product-based pyramid schemes called Multilevel Marketing. And just because individuals from all walks of life join USANA does not mean anything. Some people will do anything for a buck. Credible people also recommended and stood behind Enron, Worldcom, and Bernie Madoff's scheme.
- Whether constantly changing dosages in their vitamins constitutes a perfecting of the product or whether it is done just so associates cannot return the product for a refund after 3 months (instead of 12 months as required), I guess USANA does have experience, but you don't want to count on it. The claim that USANA set the "Gold Standard" in the industry was given by Lyle Macwilliam's Comparative Guide to Nutritional Supplements. I have written much on this subject.
- Pyramid Schemes can sustain themselves as long as you can attract new participants. Pyramid Schemes are successful in both good and bad economical times. Probably more so in bad economical times because people are desperate and looking for ways to make some money. Currently, USANA is growing only in their Asian market, mainly their Hong Kong region. Over the past several years, USANA has NOT been able to grow in their United States Region, Canada Region, Mexico Region, New Zealand Region, Australian region, South Korea Region, Japan Region, Taiwan Region, or United Kingdom Region. So much for continued growth.
FALSE1. Low Start-Up Costs
To start your own home-based USANA business, there is very little upfront investment and no qualifying volume or inventory requirements. The only required purchase is USANA’s Business Development System. For as little as $30 US, you get a tried and tested system for creating an income-generating business that can last a lifetime.
- New associates are also required to activate their business center(s) before they are considered “Active” and be eligible to collect commission. To activate a 1-Business Center plan, associates need to personally purchase about $180 worth of product. To activate a 3-Business Center plan, associates need to personally purchase about $540 worth of product. These Personal Sales Volume (PSV) purchases do not pay out any commission to the new associate even if resold to a retail customer, however the associate's upline will get paid a commission from your purchase.
- While USANA claims there are no inventory requirements, there are mandatory PSV purchases that associates must make every 28 days depending on the number of business centers they have. For a single business center, this is about $120 every 28 days that the associate must personally purchase. If the associate fails to make this purchase, the associate loses their "Active" status, is stripped of any Group Sales Volume (GSV) that has accumulated up to that point, and is not eligible to collect any commission from their preferred customers or downline associate's purchases. So yes, there is an inventory requirement. This is why it pays to recruit new associates instead of retailing product.
2. Simple Compensation StructureFALSE
No previous experience is necessary for you to be successful with USANA—just bring a willingness to learn and a passion for helping others improve their lives. It only takes your efforts and two individuals to do the same for you to start building a profitable downline organization. And, depending on your ambition and efforts, you can start earning commissions in your first week simply by sharing the products with others and ordering some for yourself.
- USANA's compensation plan is extremely complex, contains vast amounts of requirements that are difficult to follow and understand, and is designed to fail over 90% of participants no matter how hard they try.
- USANA's claim that you can start earning commissions in your first week "simply by sharing the products with others and ordering some for yourself" is not true. Sharing the products with others implies the associate is giving away samples or even selling product from the associate's own inventory purchases. Don't be fooled however! Associates are not paid any commission from the PSV purchases that USANA requires them to make every 28 days. If a new associate joins, activates a single business center by personally purchasing $180 worth of product, and shares these products with others, that associate will not be paid a dime in commission. In order to be paid a commission like USANA claims, you would have to recruit at least 2 new associates in your downline who spend over $250 each, or find about 5 preferred customers who each purchase $100 worth of product during your first week (Both scenarios will pay you $40 in commission). BTW, there are 1 active preferred customer for every 3 active associates. Good luck on the preferred customers because they have been on a downward spiral!3. Incredible Earning PotentialFALSE
Unlike a traditional job that gives you only one way to earn income, USANA’s award-winning compensation plan offers an incredible six ways to earn income, providing a realistic opportunity to leverage your downline’s efforts to earn an above-average commission check every week. To help you succeed, unpaid volume carries over every week, there are no group sales requirements, and you are not limited to levels. In addition, you could potentially save thousands of dollars with home-based business tax deductions*.
- 99% of USANA associates never make a profit. This incredible earning potential only applies to those who inact boiler room recruiting tactics, unethical doctors peddling USANA products to patients, and those who have gotten in very early on. Of course someone can join today and make a fortune by recruiting their church's congregation into their downline by placing undue pressure on the church members (See Operation Promise Land).
4. Your Business Fits Your LifeFALSE
It’s your business. You work where, when, and how you want. Generally, if you put in a little bit of work, you’ll earn a little bit of income. If you put in more work, your earnings will increase. And, you’ll be free from the typical workweek irritations—no alarm clock, no schedule, no rush hour traffic, and no boss.
- It is not a business unless you are out retailing USANA's products. Unfortunately, very few associates do so. The real operation is to sell the business opportunity and recruit more and more associates into the scheme. You can be sure that all of USANA's big shot associates making hundreds of thousands of dollars are all doing so because they have a massive downline of associates in their business centers, not because they retail millions of dollars worth of product to customers. It's not about selling the product, it's about selling the dream of making money. You sell the dream of becoming rich and the products are purchased automatically because it is a requirement to purchase in order to participate!
5. You’re in Business for Yourself, Not by YourselfFALSE
USANA is behind you every step of the way. You will receive expert training and have access to a wealth of tools to make your life easier: a full Associate-only web site where you can get the latest news, training, free downloads, and business management services; frequent Web conferences; unforgettable events; eye-catching sales aids, professional multimedia productions; exciting publications; and much more. Our enthusiastic and experienced customer service team is available to help in six languages. And, with our Autoship program, you’ll never have to handle inventory—we’ll ship everything directly to you or your customers on a schedule that’s convenient for you.
- USANA is in front of you every step of the way. USANA associates must purchase overpriced product every 28 days in order to participate in the opportunity. Because the distributor's prices and the preferred customer's prices are the same, there is no profit margin that can be made on selling the product retail. Then USANA takes 45% of the money you just paid them and gives the vast majority of it to the 1% of associates that are at the top of the pyramid scheme. However, the bottom 99% of associates never make enough of see a profit. USANA's heading for this section would be more accurate if it read "You're in Business for Your Upline, Not for Yourself".
6. A World of Possibilities
If you’ve always wanted to travel the world, USANA is your ticket to a successful international business. USANA responsibly expands by choosing promising markets around the world in which to open for business. With our seamless compensation plan, you can build your organization in multiple countries without having to worry about different compensation plans or currency conversions. USANA takes care of everything while you work in exotic locations, discover exciting cultures, and make a world of new friends.
FALSE
- New associates don't stand a chance at doing business internationally. This is because the big shot associates (top 1%) already have their feet planted firmly in new territories just prior to the official openings. What USANA really means by their statement here is that there are no territorial boundaries in which you can recruit preferred customers or new associates. In other words, everyone in your neighborhood could become an associate just like you, and if they are not in your downline, then you are pretty much out of luck. But consider this, if 25 different McDonalds restaraunts existed on a single block, would any of them make a profit? No, of course not. In fact, they would all go out of business except one. That last remaining McDonalds would then be able to profit and stay in business. This dilemma is known as over saturation. USANA wants to pretend as though saturation does not apply to their recruitment operation.
7. Growing Health & Wellness IndustryFALSE
For many years, wellness-related businesses have been one of the fastest growing segments in direct selling. Renowned economist Paul Zane Pilzer identified wellness products and programs as the economy’s next trillion-dollar industry. As a large portion of the world population ages, they are looking for products that make them look and feel better, and younger generations are looking for ways to maintain their health and energy levels to meet the needs of their busy lives. USANA is poised to meet those needs.
- About 99% of the world cannot afford USANA's expensive products. If USANA did not force its associates to purchase over $100 worth of product every 28 days to participate in the compensation plan and be eligible for commission, then USANA would vanish because the people who would purchase the product would be those who actually want it. Associates who quit the business opportunity also quit purchasing USANA products. Over the past 18 years, USANA has had over one million associates. However, only 210,000 are considered "Active" as of July 2010. Most of these currently active associates joined within the past year. Thus, over 80% of USANA associates left the business opportunity and also stopped purchasing the product. This is indicative of the fact that the net sales for USANA change proportional to the number of currently active associates. USANA is NOT poised to meet the world's needs.
8. The Leader in Quality and InnovationFALSE
USANA’s quality products are formulated by a world-class scientific team based on cutting-edge, proven science and Dr. Myron Wentz’ expertise in keeping cells healthy through optimal nutrition. The company also collaborates closely on research with the Linus Pauling Institute and other notable institutions. Additionally, most products are manufactured and packaged in USANA’s own state-of-the art facility, allowing USANA to guarantee the quality and potency of every product.
- USANA spends less than 1% of net sales in Research and Development. Simply readjusting dosages in their products is not innovative. As far as quality goes, USANA claims to manufacure according to Pharmaceutical GMP. However, USANA refuses to allow any agency or organization to test USANA's facility according to Pharmaceutical GMP. Only the standard Food GMP has been tested at USANA's facility. Manufacturers like USANA can claim to manufacture according to drug standards, but never have to prove it because they are not required to. You cannot call yourself a leader in "Quality" when you refuse to allow testing of your products to the Pharmaceutical GMP quality like USANA claims. BTW, in order to be Pharmaceutical GMP like drugs have to be, USANA's ingredients would have to be exactly 100% to what they claim is in the pills. Not 10% over or 10% under. Can you imagine a prescription drug that calls for exactly 30 mg is slightly over or under the printed dosage
9. Worldwide CredibilityFALSE
A member of the Direct Selling Association, USANA is a solid, publicly traded company that has attracted people of all ages, genders, and education levels from across the globe. World-class athletes, best-selling authors, respected scientific institutions, leading health and wellness experts, and experienced business professionals across the globe have all recognized USANA’s commitment to excellence.
- The Direct Selling Association has no credibility. The DSA board members consist of executives from Multilevel Marketing companies, not Direct Selling companies. The hijacking of the association has destroyed the credibility of network marketing by promoting product-based pyramid schemes called Multilevel Marketing. And just because individuals from all walks of life join USANA does not mean anything. Some people will do anything for a buck. Credible people also recommended and stood behind Enron, Worldcom, and Bernie Madoff's scheme.
10. Experience You Can Count OnFALSE
Founded in 1992, USANA has years of experience in perfecting not only products that set the gold standard in the industry, but also a duplicable home-based business model that is stable in a good economic climate or bad. Under the direction of USANA’s solid and experienced management team, the company is positioned for a future of continued growth and success.
- Whether constantly changing dosages in their vitamins constitutes a perfecting of the product or whether it is done just so associates cannot return the product for a refund after 3 months (instead of 12 months as required), I guess USANA does have experience, but you don't want to count on it. The claim that USANA set the "Gold Standard" in the industry was given by Lyle Macwilliam's Comparative Guide to Nutritional Supplements. I have written much on this subject.
- Pyramid Schemes can sustain themselves as long as you can attract new participants. Pyramid Schemes are successful in both good and bad economical times. Probably more so in bad economical times because people are desperate and looking for ways to make some money. Currently, USANA is growing only in their Asian market, mainly their Hong Kong region. Over the past several years, USANA has NOT been able to grow in their United States Region, Canada Region, Mexico Region, New Zealand Region, Australian region, South Korea Region, Japan Region, Taiwan Region, or United Kingdom Region. So much for continued growth.
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