The saga of the Usana Health Sciences insider continues. In essence the insider alleges that Usana had $22 million in income tax expense for 2006 (confirmed with the 10-K), paid about $13 million of that, leaving a $9 million income tax liability. The problem is that the Usana 10-K only shows a $3 million income tax liability.
From the insider:
I sent Century Capital Management and Lord Abbett two institutional holders of our stock copies of the fraud report overnight mail from a Las Vegas post office two days after we received it and before the Wall Street Journal article appeared.
To prove that I am an insider, note the signature page sent to them was copied and not original like the copy of the report we had received. The company keeps saying I am an outside pre texter and they are right but not yet known is that it is easy to pretext from an 801 area code when our main number appears as does the name of our company on the caller id on the other end of the phone. With all the pre texting complaints lodged with all who deal with us, if that # did not appear, no information could be attained.
Riddle me this Batman, we show roughly three million in current liabilities for ‘income tax’ for 2006 in the ten k. The problem is we have only paid 13,637,184.31 in ‘estimated’ income tax form 1120 for 2006. The liability calculating the year end earnings per share which is a constant non flexiable number is roughly twenty two million. Doing the math nine million still owed by Sept fifteenth as an extension was filed but we only show a three million liability still due for 06 income taxes. Confirm by the 2,228,000 estimate income tax payment made on April 13 for 07 income taxes for first quarter. Paying 07 estimates for the first quarter locks us into a debt for 06 of roughly over nine million dollars and our financials only show a income tax laibility in 06 of three million dollars.
Confirm these numbers and the mailings and you will see I am telling the truth and have information beyond which an outsider could. And do not forget the golf tournament at Stonebridge course run by BJ. Good guess? Sure every outsider knows our yearly September or August tournament run by BJ. I will post shortly.
