George Foreman Enterprises: MUST READ
-In the last 8k he has agreed to be the spokesman for Nations Health, selling diabetic supplies.
-George Foreman and sons own 1.8M of the 5,097,116 O/S (25M A/S)
From a previous 8K
-"Ventures entered into another Agreement with Foreman and United States Pharmaceutical Group, LLC (d/b/a NationsHealth) (“NationsHealth”) on May 28, 2010 pursuant to which Foreman was appointed as NationsHealth’s exclusive spokesman for core diabetic supplies and Foreman granted NationsHealth an exclusive worldwide license to use the Foreman name, likeness, image and signature in connection with advertising to promote the core diabetic supplies.
This Agreement was also agreed to and acknowledged by the Company."
-"10. Press Release. It is the intent of the parties to issue a joint press release announcing the formation of the relationship created hereby; provided, that it is agreed, except as required by law or by the Securities and Exchange Commission (upon an opinion by counsel of such party) or in connection with the performance and enforcement of this Agreement, no party will issue any such press release or disclose the terms of this Agreement without the prior written consent of the other parties."
-Salton Inc paid him $137 million in 1999 in order to buy out the right to use his name (for the George Foreman Grill). He sold over 100 million of these grills. Read this New York Times article http://www.nytimes.com/1999/12/10/business/salton-pays-137.5-million-for-george-foreman-s-name.html
-His name is worth a lot, GFME was trading as high as $5.44 in 2005, and recently as high as $1.01.
-The press release regarding him now selling diabetes supplies has not occurred yet (get in before!)
-At current pricing I believe GFME is undervalued and is an excellent risk/reward situation
-Further DD about the recent 8-K can be found here: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53368479