UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 30, 2007 (November 30, 2007)
Lifevantage Corporation
(Exact name of registrant as specified in its charter)
| Colorado | 000-30489 | 90-0224471 | ||
| (State or other jurisdiction | (Commission File Number) | (IRS Employer Identification No.) | ||
| of incorporation) |
6400 South Fiddler’s Green Circle, Suite 1970, Greenwood Village, CO 80111
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: ( 720) 488-1711
Not Applicable
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01. Regulation FD Disclosure
On November 30, 2007, the Company will give a business presentation at its 2007 Annual Meeting
of Shareholders. The business presentation is attached as Exhibit 99.1 hereto, which is furnished
under Item 7.01 of this report and shall not be deemed to be “filed” for purposes of Section 18 of
the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of
that section, nor shall it be deemed incorporated by reference in any filing under the Securities
Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01. Financial Statements and Exhibits
Exhibit 99.1 Business Presentation
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: November 30, 2007
| LIFEVANTAGE CORPORATION |
||||
| By: | /s/ Bradford K. Amman | |||
| Bradford K. Amman | ||||
| Secretary and Treasurer | ||||
EXHIBIT INDEX
| Exhibit No. | Description | |
99.1
|
Business Presentation |
Exhibit 99.1
| ANNUAL MEETING OF SHAREHOLDERS November 30, 2007 Helping people reach their health and wellness goals through science-based solutions |
| Statements in this presentation which are not statements of historical fact are "forward-looking statements" within the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on information available to, and the expectations and assumptions deemed reasonable by Lifevantage Corporation (the "Company") at the time this presentation was made. Although the Company believes that the assumptions underlying such statements are reasonable, it can give no assurance that they will be attained. Factors that could cause actual results to differ materially from expectations include the risks detailed under the caption "Risk Factors" in the Company's most recent Annual Report on Form 10-KSB, and risks identified in the Company's quarterly reports on Form 10-QSB and in other materials filed by the Company from time to time with the Securities and Exchange Commission. from time to time with the Securities and Exchange Commission. from time to time with the Securities and Exchange Commission. from time to time with the Securities and Exchange Commission. from time to time with the Securities and Exchange Commission. from time to time with the Securities and Exchange Commission. from time to time with the Securities and Exchange Commission. from time to time with the Securities and Exchange Commission. from time to time with the Securities and Exchange Commission. from time to time with the Securities and Exchange Commission. from time to time with the Securities and Exchange Commission. from time to time with the Securities and Exchange Commission. from time to time with the Securities and Exchange Commission. from time to time with the Securities and Exchange Commission. from time to time with the Securities and Exchange Commission. from time to time with the Securities and Exchange Commission. |
| Cash burn reduced significantly Personnel cut to bare minimum Most marketing programs were scaled back Direct sales to customers declined Share price declined Re-price of 2005 warrants Launched Fall 2007 funding Expenses under control by year end FY 2007 - A Turn Around Year |
| Sales/Expense Gap Reduced |
| Funding is complete Positive cash flow from operations Management changes A switch to "direct response marketing" Declining revenue trend is flattening Patent received by LifeVantage First Quarter - FY 2008 |
| Breakthrough Technology - Patent granted First Patent Granted: July 10, 2007 |
| Research Technology - Patent Received! Fold Induction ag HO-1 mRNA/ng/rRNA Alcohol extract from 30 ug protandim or components per ml medium 0 2 4 6 8 10 12 14 16 18 20 Ashwagantha Bacopa Green Tea Silymarin Curcumin Protandim Control Antioxidant gene induction by Protandim and its components in human brain-derived cells No single ingredient alone shows significant gene induction. All five ingredients together (the patented Protandim(r) formula) produced a substantial increase in the expression of this antioxidant gene. The Protandim(r) formula works many times more effectively than the sum of its parts. This remarkable synergy provides the basis for intellectual property rights. |
| The Protandim(r) breakthrough study has spawned many additional independent studies using Protandim(r) . Universities and institutions conducting research include: University of Colorado Denver Health Medical Center Children's Hospital, Denver University of Florida University of Kentucky University of Michigan Louisiana State University The topics under investigation or in planning stages deal with the alleviation of oxidative stress under the following conditions: Heart disease Coronary artery bypass graft failure Asthma Duchenne muscular dystrophy Metabolic syndrome Non-alcoholic fatty liver disease Optic neuropathy Altitude sickness Skin cancer Photoaging of the skin Renal failure Osteoarthritis HIV/AIDS-associated lipodystrophy Pulmonary hypertension Periodontal disease Ohio State University Vanderbilt University Glamorgan University, Wales Sahlgrenska University Hospital, Goteborg, Sweden University of Toronto/St. Michael's Hospital, Canada University Hospital, Brno, Czech Republic Mexican Institute of Social Security, Mexico City The Body of Science is Growing |
| Direct response approach Measurable, offer oriented, drive new users Strategic focus on Customer Acquisition and Retention Our View of the Customer Online: Strategy, Acquisition and Retention Interview Style TV Retail Distribution Advertising and Public Relations Sales & Marketing Overview |
| Why it matters Shape the message, choose the medium Establish lifetime value of a customer Base marketing decisions on cost of acquisition Loyal Auto-Shippers Core business Our View of the Customer |
| Loyal Non-Auto-Shippers Resist auto-ship We meet them on their terms Our View of the Customer |
| Free Trial Customers Sample, then educate Our View of the Customer |
| Inactive and Former Customers Large list that's receptive to promotions Our View of the Customer |
| Prospects Our View of the Customer |
| Broad Online Strategy |
| Text here Acquisition Strategy - Online Website Management Clear call to action (e.g. Free Trial) Multiple ways to enter the sales funnel (e.g. buy, brochure, newsletter) Simplified navigation Design elements that uphold the brand promise Email Marketing Rent prospect email addresses targeted by geography and segment Cross-sell and up-sell existing customer base Email newsletter Email promotions to inactive customers Search Marketing Add syndicated and partner content to increase organic search opportunities Optimize campaigns based on target acquisition cost Ad rotation and optimization, removing under-performing ads Online Marketing Low-cost network advertising Implement affiliate marketing program Sponsorship of email newsletters and blogs Presence with all online merchants and shopping search engines Lead Generation Leverage print advertising relationships to acquire well-qualified leads Online lead generators, with real-time sales calls and follow-up email and direct mail offers |
| Standard Customer Cadence Proactively convert brochure requestors and newsletter subscribers Promotional and educational opportunities at specific points in the customer lifecycle Standard process across contact methods HOAP - "Head 'em Off At the Pass" Overcome 7 key auto-ship objections Near 50% success rate GTB - "Get Them Back" Mine inactive customer list Call and email with offers to bring back lost customers 20% conversion rate Retention Strategy |
| Local TV markets on network affiliates Cost effectively drive new customer acquisition Deliver Protandim message in an interview format with direct response offer Additional benefits of branding, awareness, and message development Longer term direct response TV strategy Develop commercials and infomercial Celebrity endorsement and involvement Interview Style Direct Response TV |
| Objective: Grow new customers and retain existing through co-marketing programs Direct mail program drives new Protandim users into retailer Catalog/coupon programs convert known retail customers to Protandim and helps maintain existing Protandim users Use of broker/sales reps and distributors to further penetrate natural products market Retail Distribution SuperSupplements |
| Direct response focus, objective of acquisition & lead generation Eliminated most traditional ads Better Nutrition sample program Psychology Today direct response ads Chiropractor Patient Information Station program AAFP Family Doctor 2007 Advertising and Public Relations |
| Drive Protandim use in the sports market via celebrity and league endorsements NBC Today Show July & November 2006 Sympatico/MSN Health & Fitness Protandim profile Whole Foods Magazine profile Protandim and Science endorsements: Advertising and Public Relations |
| New package sizes for value pricing Protandim 60 and 90 ct. bottles "LifeVantage" line of complementary dietary supplements Cross-sell and up-sell with 4-5 additional products Increase order sizes with existing customers "ProtandimPlus" line that combines the Protandim science with complementary formulas and supplements Offers buyer convenience and extends the brand 2-4 additional products New products that apply Protandim in new product categories Opportunistic license opportunities New product development Product Line Expansion |
| These slides accompany an oral presentation by Lifevantage Corporation, which contains forward-looking statements. The Company's actual results may differ materially from those suggested here. Additional information concerning factors that could cause such a difference is contained in the Company's Quarterly Report on Form 10-QSB for the quarter ended September 30, 2007 and Annual Report on Form 10-KSB for the year ended June 30, 2007. |
| Financial and Regulatory Achievements Cost containment programs implemented and significant savings realized Eliminated staff and contractors 6 full time positions consolidated into 2 in finance and operations alone Reviewed vendor contracts and retainers and renegotiated or terminated SEC SB-2 Registration for 2005 Offering - became effective January 12, 2007 Completed and closed $1,490,000 of convertible debentures effective October 31, 2007 Finance and Operations |
| Operating Results CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS For the fiscal years ended June 30, 2007 and 2006 For the fiscal years ended June 30, 2007 and 2006 For the fiscal years ended June 30, 2007 and 2006 For the fiscal years ended June 30, 2007 and 2006 |
| Balance Sheets CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2007 and 2006 |
| Operating Results CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS For the three months ended September 30, 2007 and 2006 |
| CONVERGENCE OF SALES AND EXPENSES |
| Balance Sheets CONDENSED CONSOLIDATED BALANCE SHEETS September 30, 2007 and June 30, 2007 |
| Cash Flow CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the three months ended September 30 (Unaudited) |
| Enhance shareholder value Increase revenue Expand product offering Implement "direct response marketing" programs Focus on new customer acquisition Support co-op marketing programs with GNC Support co-op ventures with professional groups Continue and expand patent activity Launch new direct response programs Expand product line offering CEO search Anticipate that the 2005 warrants will be exercised Fill vacancies within the board of directors FY 2008 Goals |
| Thank You Questions & Discussion |