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Protandim Watch Investigative resources related to Protandim and Lifevantage Corp (formerly Lifeline Therapeutics, Inc., formerly Yaak River Resources, Inc.) |
Protandim is an "herbal supplement" based on extracts from milk thistle seeds, bacopa, ashwagandha
root, green tea leaves, and turmeric, and claimed by its marketers to reverse some of the effects of
aging. This claim has come under fire from reputable scientists and anti-aging researchers, and the
Protandim website has since modified its claims, admitting that
Protandim may provide no health benefits at all.
If you or a loved one are considering taking Protandim, please use the resources I have collected
here to make yourself more informed about this concoction and the company which is selling it. Don't
invest your money and health in anything unless your doctor has prescribed it to you, or you have
researched it thoroughly and found it to be worth the costs and risks.
If you are considering investing in LifeVantage, please use this site and others like it to research
the company and its products, and read the SEC's Penny
Stock Rules to ensure that you understand the risks: "Penny stocks may trade infrequently, which
means that it may be difficult to sell penny stock shares once you own them. Because it may be difficult
to find quotations for certain penny stocks, they may be impossible to accurately price. Investors
in penny stocks should be prepared for the possibility that they may lose their whole investment."
UPDATE: LifeVantage has recently switched from a retail sales model to a
multi-level marketing (MLM) model.
If you are considering becoming involved in marketing and distributing Protandim, please be sure that
you understand multi-level marketing and are convinced that it is worth the costs and risks to yourself
and your family.
Company · Press · Web · Groups · Ingredients · Miscellaneous · Links · Contacts · Relationships · History
6400 S. Fiddlers Green Cir # Phone: (720) 488-1711 Fax: IRS ID: 84-1097796 |
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| 1988 | 6/10 | Andraplex Corporation is incorporated in Colorado. Its initial board members are Edward H. Hawkins, Jr. of Aurora, CO and Virginia H. Dean of Louisville, CO. | |
| 1990 | 9/30 | Andraplex Corp. is administratively dissolved. | |
| 1992 | 1/29 | Andraplex Corp. is reinstated; name is changed to Yaak River Resources, Inc. | |
| 2002 | 12/1 | Yaak River Resources, Inc. is administratively dissolved. | |
| 12/1 | Yaak River Resources, Inc. is reinstated; Robert Pike becomes its registered agent. | ||
| 2003 | CereMedix, Inc. announces CMX-1152, "an orally available, naturally occurring peptide, which has demonstrated improved longevity in mice." | ||
| 7/1 | Lifeline Nutraceuticals Corp. (LNC) is incorporated in Colorado. | ||
| 10/16 | Lifeline Nutraceuticals Corp. and Ceremedix, Inc. announce that LNC has exclusive, worldwide rights to market CMX-1152 "under a yet-to-be-determined brand name," beginning in the second quarter of 2004. | ||
| 2004 | 4/5 | Lifeline Nutraceuticals Corp.'s registered office is changed to William & Rosemary Driscoll's home address. | |
| 4/20 | Orphan Lifeline, International and Global Orphans are incorporated as Colorado nonprofits. | ||
| 4/21 | Lifeline Nutraceuticals Corp. issues a press release that Daniel W. Streets has been appointed CFO and Director. | ||
| 10/1 | Yaak River Resources, Inc. is renamed Lifeline Therapeutics, Inc. (LTI). | ||
| 10/26 | Lifeline Nutraceuticals Corp. announces the acquisition of Lifeline Therapeutics, Inc. | ||
| 11/12 | William Driscoll replaces Robert Pike as Lifeline Therapeutics, Inc.'s registered agent. | ||
| 11/22 | Lifeline Therapeutics, Inc. registers the trade name Protandim. | ||
| 12/1 | Lifeline Therapeutics, Inc. changes its registered office to Lifeline Nutraceuticals Corp.'s location. | ||
| 12/30 | LTI switches its accounting from Michael Johnson & Co. LLC to Gordon Hughes & Banks LLP. | ||
| 2005 | 3/4 | Lifeline Therapeutics, Inc. announces its new website, Protandim.com. | |
| 4/12 | Orphan Lifeline, International is dissolved; Global Orphans changes its name to Orphan Lifeline. | ||
| 6/2 | Protandim is featured on the ABC News show Primetime Live. | ||
| 6/3 | LTI hits its all-time high of 20.25 per share on volume of 369513 shares. It closes at 20.25, up 30.9% from the previous day and 78.4% from a day earlier. | ||
| 6/23 | Lifeline Therapeutics reports gross sales exceeding $1.5 million in the two weeks following the airing of the Primetime Live story. | ||
| 7/1 | LTI president and CEO Bill Driscoll resigns. | ||
| 7/5 | LTI announces Bill Driscoll's resignation. | ||
| 7/6 | LTI VP Paul R. Myhill sells 550,000 shares of his LTI stock to director Dr. James D. Crapo, M.D., at $1.36 per share. LTI closes at $7.85. | ||
| 7/19 | LTI hires Brenda March as interim Chief Executive Officer through Tatum CFO Partners, LLP, at a pay rate of $1200 a day plus stock options. | ||
| 7/20 | LTI issues a press release announcing that Protandim will be sold through GNC stores. | ||
| 8/17 | Paul R. Myhill steps down as Chief Financial Officer, and is replaced by William Kutney. | ||
| 8/22 | John B. Van Heuvelen joins the Board of Directors and acquires warrants for 30,528 shares of LTI common stock. | ||
| 8/30 | William L. Lister joins the Board of Directors. | ||
| 9/29 | LTI CFO William Kutney requests an extension to file Form 10-KSB, because LTI "has not yet made final decisions concerning the accounting treatment of a number of matters" involving their huge financial loss during fiscal year 2005. | ||
| 10/13 | LTI reports a net loss of $5,822,000 for fiscal year 2005. | ||
| 11/28 | LTI announces the appointment of Stephen K. Onody as CEO and Board member effective 11/28/2005, at a pay rate of $280,000 a year plus bonuses and stock options. Brenda March will stay on through the transition. | ||
| 12/7 | Stockholder John Bradley files suit in Arapahoe County, Colorado against Lifeline Therapeutics, Inc., Lifeline Nutraceuticals Corporation, and others, alleging violations of the Colorado Securities Act, breach of contract, and fraudulent inducement. | ||
| 2006 | 1/4 | Gerald J. Houston became chief financial officer of Lifeline Therapeutics, Inc., replacing William B. Kutney. | |
| 2/13 | LTI announces a loss of $571,044 on $1.7 million in revenues for the quarter ending 12/31/2005, down from a $80,314 profit on $2.9 million in revenues for the previous quarter. LTI reveals that it makes a 79-83% profit on each bottle of Protandim sold. | ||
| 3/1 | LTI announces that Dr. Joe McCord, a major LTI stockholder, has been named to its board of directors. | ||
| 3/17 | LTI announces that it has selected Denver firm LeGrand Hart Public Relations to manage LTI's publicity. | ||
| 3/28 | LTI begins promoting Protandim as a "wellness aid" for baby boomers through www.babyboomerkit.com. | ||
| 3/29 | LTI publishes a PowerPoint presentation of its business plan to be presented to LTI shareholders. | ||
| 5/15 | LTI issues a press release detailing their $670,911 loss in Q3 2006, and holds a conference call to discuss the results with investors. During the call, Stephen K. Onody announces plans to change the company name to Lifevantage. | ||
| 6/14 | LTI trades below $1 per share for the first time, closing at 1.01. | ||
| 6/17 | LTI issues a press release announcing that Protandim will be carried in CVS pharmacies beginning in August 2006. | ||
| 7/8 | An article promoting Protandim appears on Wikipedia. | ||
| 8/22 | LTI announces a loss of $2.7 million in its preliminary report for the fiscal year ending 6/30/2006. | ||
| 8/29 | LTI trades at or above $1 per share for the last time, closing at 0.98. | ||
| 11/22 | Lifeline Therapeutics, Inc. changes its name to Lifevantage Corporation. | ||
| 11/29 | Annual Report is submitted to the SEC. | ||
| 11/30 | Stephen K. Onody tenders his resignation as CEO of Lifevantage Corporation. | ||
| 12/13 | Javier W. Baz and H. Leigh Severance resign from the Board of Directors. | ||
| 12/15 | Stephen K. Onody officially resigns as CEO of Lifevantage Corporation. | ||
| 12/20 | Dr. Larry Gold resigns from the Board of Directors, stating that his "substantial experience in biotech and drug development has not been useful to Lifevantage." | ||
| 12/21 | James J. Krejci is appointed as CEO of Lifevantage Corporation, with an annual salary of $185,000 and a "discretionary bonus," as well as one million shares of the Company's common stock for 61¢ per share. 250,000 of Mr. Krejci's options will vest each December 21, from 2006 until 2009. | ||
| 12/22 | William L. Lister resigns from the Board of Directors, citing personal reasons. | ||
| 2007 | 2/14 | Gerald J. Houston resigns as Chief Financial Officer of Lifevantage Corporation effective immediately. | |
| 5/8 | Lifevantage announces that Eric Noren has joined the company as director of e-commerce. | ||
| 5/14 | Lifevantage announces its results for 3Q FY2007: $582,333 loss on $995,274 net revenue. | ||
| 5/22 | Lifevantage announces that attorney Clark C. Griffith has been engaged to promote Protandim use in the sports industry. | ||
| 5/30 | Lifevantage announces that Protandim is listed as a recommended product in The Seven Pillars of Health by Dr. Don Colbert. | ||
| 6/12 | Lifevantage's Board of Directors amends the company bylaws to eliminate the position of Vice President and establish the position of Vice Chairman. | ||
| 6/15 | Lifevantage common stock dips to 16¢ per share. | ||
| 6/19 | Lifevantage announces an agreement with Performance One Media to sell products through infomercials. The press release does not mention Protandim, their only product. | ||
| 6/20 | Lifevantage announces a license agreement with talk-show host Montel Williams to sell products using his name, as well as plans to use Mr. Willams in infomercials. The press release does not mention Protandim. | ||
| 6/29 | Lifevantage files its intention to distribute up to 6,000,000 shares of common stock (current market value $1.2 million) to its employees as part of its 2007 Long Term Incentive Plan. | ||
| 6/30 | At close of FY 2007, Lifevantage has 12 full-time employees and one part time employee, all contracted through Administaff. | ||
| 7/8 | A Wikipedia entry for Protandim appears. | ||
| 8/14 | Lifevantage removes Gerald J. Houston as its registered agent, exactly six months after his sudden resignation. The registered agent is now Brad Amman. | ||
| 8/25 | Chairman John B. Van Heuvelen resigns from the board of directors of Lifevantage. He is replaced by James D. Crapo. | ||
| 8/30 | Lifevantage CEO James J. Krejci's employment "ended." | ||
| 8/31 | James J. Krejci resigns from the board of directors of Lifevantage. | ||
| 9/18 | Jack R. Thompson is elected to the Board of Directors. Mr. Thompson is also on the boards of Sparx Asia Funds and Russell Funds, and has been President and CEO of Berger Financial Group and Senior Vice President and Trustee of Janus Funds. | ||
| 9/26 | Lifevantage increases its debt through an offering of $1,075,000 in convertible debentures. | ||
| 9/28 | Bolder Venture Partners of Denver, Colorado take over day-to-day operations of Lifevantage. Partner Gene Copeland will serve as interim COO, and Managing Director Daryl Yurek will direct sales and marketing strategy. | ||
| 9/28 | Lifevantage reports that its annual report will be filed late, citing "recent management changes, audit committee changes and the company’s recent financing activities" as delaying factors. | ||
| 10/1 | Lifevantage's website still lists James J. Krejci as CEO and Director, over a month after his sudden departure. The listings are later removed. | ||
| 10/10 | Lifevantage announces that Protandim will be featured on "Colorado & Company" (live), a magazine-style show on Denver NBC affiliate KUSA-TV, on Wednesday, October 24, 2007, some time between 10am and 11am MT. | ||
| 10/12 | Lifevantage submits its annual report indicating a FY2007 loss of $3,693,578 versus a loss of $2,734,501 in FY2006. The single included graph, which identifies its source as "National Business Journal, www.nutritionbussioness.com" is actually taken from the Nutrition Business Journal (www.nutritionbusiness.com). | ||
| 10/12 | Lifevantage issues a press release quoting figures from the annual report filed today and predicting "an approximate break even cash flow status during fiscal year 2008." | ||
| 10/24 | Lifevantage is featured on "Colorado & Company." | ||
| 10/31 | Lifevantage increases its debt through an offering of $415,000 in convertible debentures. | ||
| 11/14 | Lifevantage reports to the SEC that it would be be "unable to file its Form 10-QSB [quarterly report] within the prescribed time period" due to "technical issues" linked to its recent private offering. | ||
| 11/19 | Lifevantage submits its quarterly report to the SEC. | ||
| 11/26 | Lifevantage announces that Protandim will be featured on newsmagazine-style direct marketing television shows in nine local markets nationwide between October 24 and December 14. | ||
| 11/30 | Lifevantage presents a presentation of company history and future plans at its annual stockholders meeting. The presentation includes a bar chart which appears to claim induction of a ~19-fold increase in the expression of the antioxidative gene ag HO-1 mRNA/ng rRNA in human brain-derived cells. | ||
| 2008 | 1/10 | Lifevantage appoints David Whitney Brown as President and Chief Executive Officer. | |
| 1/30 | Lifevantage dismisses its accounting firm Gordon, Hughes & Banks, LLP effective immediately, replacing them with Ehrhardt Keefe Steiner & Hottman PC. | ||
| 2/4 | Lifevantage is directed by the SEC to revise their submitted 8-K regarding the recent dismissal of their accounting firm Gordon, Hughes & Banks, LLP. | ||
| 2/8 | Lifevantage submits an amendment to their submitted 8-K indicating that "there were no disagreements with GH&B on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure which, if not resolved to the satisfaction of GH&B, would have caused GH&B to make reference to the subject matter of the disagreement in connection with its report." | ||
| 2/13 | Lifevantage files its quarterly report for 2Q FY 2008, indicating a quarterly loss of $400,000, or $.02 per share, on revenues of $800,000. | ||
| 6/23 | Lifevantage announces that a second patent for Protandim was awarded on June 10. U.S. Patent #7384655 claims that "The compositions of the present invention are useful to prevent or treat the following disorders and diseases: memory loss; Parkinson's disease; aging; toxin-induced hepatotoxicity, inflammation; liver cirrhosis; chronic hepatitis; and diabetes due to cirrhosis; indigestion; fatigue; stress; cough; infertility; tissue inflammation; cancer; anxiety disorders; panic attacks; rheumatism; pain; manic depression; alcoholic paranoia; schizophrenia; fever; insomnia; infertility; aging; skin inflammations and disorders; alcoholism; anemia; carbuncles; convalescence; emaciation; HIV; AIDS; immune system problems; lumbago; multiple sclerosis; muscle energy loss; paralysis; swollen glands; ulcers; breathing difficulties; inflammation; psoriasis; cancer (e.g.; prostate cancer, lung cancer and breast cancer); pain; cardiovascular disease (e.g.; arteriosclerosis and atherosclerosis); ischemia/reperfusion injury; anxiety; attention deficit disorder; leprosy; arthritis (e.g., psoriatic arthritis; anklylosing spondvlitis; and rheumatoid arthritis); hemorrhoids; tuberculosis; high blood pressure; congestive heart failure; venous insufficiency (pooling of blood in the veins; usually in the legs); sore throat; hepatitis; syphilis; stomach ulcers; epilepsy; diarrhea; asthma; burns; piles; sunburn; wrinkles; headache; insect bites; cuts; ulcers; sores; herpes; jaundice; bursitis; canker sores; sore gums; poison ivy; gastritis; high cholesterol; heart disease; bacterial infection; viral infection; acne; aging; immune disorders; dental caries; periodontitis; halitosis; dandruff; cardiovascular disease (e.g., hypertension; thrombosis; arteriosclerosis); migraine headaches; diabetes; elevated blood glucose; diseases of the alimentary canal and respiratory system; age-related physical and mental deterioration (e.g., Alzheimer's Disease and age-related dementia); cardiovascular disease; cerebral vascular insufficiency and impaired cerebral performance; congestive symptoms of premenstrual syndrome; allergies; age-related vision loss; depression; Raynaud's disease; peripheral vascular disease; intermittent claudication; vertigo; equilibrium disorder; prevention of altitude sickness; tinnitus (ringing in the ear); liver fibrosis; macular degeneration; asthma; graft rejection; and immune disorders that induce toxic shock; bronchoulmonary disease as cystic fibrosis; chronic bronchitis; gastritis; heart attack; angina pectoris; chronic obstructive pulmonary disease; kidney damage during coronary angiography; Unverricht-Lundborg disease; pseudoporphyria; pneumonia; and paracetamol hepatotoxicity." LifeVantage Corporation's website still states that it "does not market and sell Protandim® for the purposes of preventing, treating, curing, or mitigating any disease, including MS." | ||
| 11/12 | Lifevantage stock closes at 7 cents a share. | ||
| 2009 | 4/7 | LifeVantage announces today that Denver investment bank Aspenwood Capital has raised $3.5 million for LifeVantage through a private placement. | |
| 4/13 | BUYINS.NET announces that LifeVantage has been added to the NASDAQ, AMEX and NYSE naked short threshold list: "With 24.77 million shares outstanding and 6,500 shares declared short as of January 2009, there is a failure to deliver in shares of LFVN. According to quarterly data provided by the SEC, there were still 308,013 shares of LFVN that were failing-to-deliver as of May 6, 2008." | ||
| 5/5 | BUYINS.NET announces that LifeVantage has been removed from the NASDAQ, AMEX and NYSE naked short threshold list. | ||
| 5/15 | BUYINS.NET announces that LifeVantage has been re-added to the NASDAQ, AMEX and NYSE naked short threshold list: "With 24.77 million shares outstanding and 40,500 shares declared short as of April 2009, there is a failure to deliver in shares of LFVN. According to quarterly data provided by the SEC, there were still 308,013 shares of LFVN that were failing-to-deliver as of May 6, 2008." | ||
| 5/15 | After Friday market close, LifeVantage submits its quarterly report to the SEC. The report details a net loss of $3,100,332 for the quarter compared to a net loss of $604,656 for the same quarter in 2008. | ||
| 6/3 | BUYINS.NET announces that LifeVantage has been removed from the NASDAQ, AMEX and NYSE naked short threshold list. | ||
| 6/3 | LifeVantage announces that its distributors can how buy samples of its TrueScience™ skin cream product. | ||
| 6/11 | LifeVantage appoints Carrie E. Carlander as Chief Financial Officer effective June 9, with an annual salary of $200,000. | ||
| 6/16 | LifeVantage announces the appointment of Kirby Zenger as Chief Operating Officer effective June 9, with an annual salary of $215,000. | ||
| 6/16 | LifeVantage announces that Brad Amman resigned as Chief Financial Officer effective June 9, and was appointed VP of Finance. | ||
| 6/16 | LifeVantage announces its TrueScience™ skin cream product at a multi-level marketing event in San Diego. | ||
| 7/27 | LifeVantage announces anticipated (unaudited) net revenue of approximately $1.6M for the quarter ended June 30, 2009 (an increase of about 150% over the previous quarter). The announcement attributes the increase to their new multi-level marketing program. | ||
| 7/31 | LifeVantage appointed CFO Carrie Carlander as secretary and treasurer, replacing Finance VP Brad Amman in those positions. | ||
| 9/1 | LifeVantage announces that the USPTO has granted the company its third patent based on Protandim and Protandim-related preparations. | ||
| 9/28 | LifeVantage reports a net loss of approximately $9,114,634 for fiscal year 2009, more than quadruple the $2,054,439 net loss for fiscal year 2008. |
