Trading Markets – Published April 23, 2009
A 5-year-old Orem-based network marketing company is struggling under the twin challenges of financial losses and a legal attack by a vendor that is turning itself into a competitor.
ForeverGreen Worldwide Corp., a seller of natural food, nutritional supplements and personal-care products, lost $1 million in 2008, had a deficit of $1.8 million in cash available for daily operations and ended the year with a deficit of $18 million accumulated over its five years of operation, according to its report filed this month with the Securities and Exchange Commission.
In addition, Wellosophy of Folsom, Calif., has sued in federal court alleging ForeverGreen has failed to pay it about $75,000 for supplying a weight-loss product. The suit also claims the Utah firm is violating its contract by continuing to market the product and it asks for an injunction.
Read the entire article at Trading Markets
Also, read our company overview: ForeverGreen Facts, News and Review
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