In July 2013, Reliv entered into a license agreement with Soy Labs, LLC to secure exclusive rights to certain intellectual property related to lunasin, a dietary ingredient that promotes optimal health at the epigenetic level. The license covers an issued patent and several patent applications related to lunasin and soy-related peptides, proprietary information, and manufacturing processes of Soy Labs, LLC.
"Part of our long-term sales and marketing strategy worldwide is to position Reliv to benefit from the growing popularity of epigenetics," Montgomery said. "The science of epigenetics is now hitting mainstream media and we believe nutritional epigenetics will soon follow. Our license of the intellectual property related to the commercialization of lunasin positions Reliv as industry leader in this emerging field of study."
"Our LunaRich product line, which optimizes lunasin levels, has energized our distributor force and shown significant potential for sales growth," he added. "Reliv Now® with LunaRich has become our top seller, comprising 18.4 percent of net sales in the United States in the second quarter 2013, while LunaRich X™, launched in January 2013, accounted for 8.5 percent of second quarter 2013 net sales in the United States. For the first time Reliv now controls an ingredient in its entirety, from the proprietary extraction process to the patented mechanisms of action within the body. I believe this places Reliv in a unique position in the industry and provides an opportunity for growth."
Net sales for the first six months of 2013 were $34.3 million, which represents a 6.1 percent decrease from the same period in 2012. Reliv's international net sales declined 6.0 percent in the first half of 2013 compared with the first half of last year. In the United States, net sales declined 6.2 percent. Reliv reported a net loss of ($19,000), or ($0.00) per diluted share in the first six months of 2013, compared to net income of $635,000 or $0.05 per diluted share in the same period of 2012.
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