SAN DIEGO, June 14 LifeVantage Corporation (OTC Bulletin Board: LFVN), the maker of Protandim®, announced today that it successfully held the largest gathering of distributors in the Company's history at its One Year Anniversary Elite Academy event on June 11 - 12, 2010 in Salt Lake City, UT. At the event, the Company announced that it has furthered its international expansion with a pre-launch into Japan, where it is currently accepting and fulfilling independent distributor applications and orders.
"We were thrilled to welcome the largest gathering of distributors in the Company's history to our Elite Academy Event," stated David Brown, LifeVantage President & CEO. "We were overwhelmed by the number of distributors who came from all over the United States and by the excitement they are generating. It illustrates why we are seeing the type of rapid growth we have been experiencing, even as other companies appear to be struggling. Since the beginning, our Elite Academies have been a tremendous forum in which to train, motivate and support our distributors. They increase distributor loyalty and effort and we have observed that the impact of this type of event is measurable and immediate."
"We were excited to announce our international expansion into Japan at Elite Academy," stated Kirby Zenger, LifeVantage Chief Operating Officer. "Japan is a tremendous network marketing country, ranking second only to the U.S. in multi-level marketing or MLM sales according to the Direct Selling Association. We have established strong distributor contacts within the country and our launch has been done in a cost effective and profitable manner. Based upon early orders and shipping information, we believe that we will see some of our Japanese distributors attain the rank of Pro 6 and Pro 7."
The Elite Academy took place June 11-12, 2010 in Salt Lake City, and featured the corporate executive team along with top distributor leaders, who provided distributors with training and information about corporate sales, marketing and operations initiatives. The event also featured Dr. Joe McCord, developer of Protandim®, who spoke about the science behind the product.
About LifeVantage Corporation
LifeVantage Corporation is a publicly traded (OTCBB: LFVN), science-based, nutraceutical company dedicated to helping people reach their health and wellness goals. Founded in 2003 and based in San Diego, CA, LifeVantage develops products, including Protandim®, that are intended to deliver significant health benefits to consumers. For more information, visit www.LifeVantage.com.
Forward Looking Statements
This document contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as "believe," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates" and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Such forward-looking statements are not guarantees of performance and the Company's actual results could differ materially from those contained in such statements. These forward-looking statements are based on the Company's current expectations and beliefs concerning future events affecting the Company and involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include, among others, the potential failure or unintended negative consequences of the implementation of the Company's network marketing sales channel; the Company's ability to retain independent distributors or to attract new independent distributors on an ongoing basis; the potential for third party and governmental actions involving the Company's network marketing sales channel; the potential for product liability claims against the Company; the risk that government regulators and regulations could adversely affect the Company's business; future laws or regulations may hinder or prohibit the production or sale of the Company's existing product and any future products; unfavorable publicity could materially hurt the Company's business; and the Company's ability to protect its intellectual property rights and the value of its product. These and other risk factors are discussed in greater detail in the Company's Annual Report on Form 10-K and its Quarterly Report on Form 10-Q under the caption "Risk Factors", and in other documents filed by the Company from time to time with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this document. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this document, except as required by law.
Investor Relations Contact: Ioana C. Hone (858) 312-8000 Ext. 4
SOURCE LifeVantage Corporation