Filing Analysis
Mannatech, Inc. filed an 8-K to announce the release of its financial and operating results for the second quarter ended June 30, 2026.
📋 Key Facts
- Reporting period: Second Quarter ended June 30, 2026.
- Filing date: August 12, 2026.
- The filing includes a press release (Exhibit 99.1) detailing financial and operating results.
Mannatech, Inc. has appointed Yasir Haider as Chief Financial Officer and principal financial officer, effective June 3, 2026. James Clavijo, who had served as CFO since July 2024, is relinquishing the role.
🚩 Red Flags
- Short tenure of the departing CFO (James Clavijo served approximately 23 months).
📋 Key Facts
- Yasir Haider appointed as CFO and principal financial officer effective June 3, 2026.
- James Clavijo departs the CFO role after serving since July 2024.
- Mr. Haider previously served as the Company's Controller since January 6, 2025.
- Mr. Haider's background includes public accounting and an MBA from West Texas A&M University.
Mannatech, Inc. reported the results of its 2026 Annual Shareholders' Meeting held on June 2, 2026. Shareholders elected two directors, ratified the appointment of BDO USA, P.C. as the independent auditor, and approved executive compensation on an advisory basis.
📋 Key Facts
- Annual Shareholders' Meeting held on June 2, 2026.
- Quorum represented by 1,369,880 shares, approximately 71.0% of total shares outstanding.
- John A. Seifrick and Robert Toth were elected as Class III directors.
- BDO USA, P.C. was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2026.
- Executive compensation ('Say-on-Pay') was approved on an advisory basis.
Mannatech, Inc. announced its financial and operating results for the first quarter ended March 31, 2026. The disclosure was made via a press release furnished with the SEC filing.
📋 Key Facts
- The filing reports financial results for the first quarter ended March 31, 2026.
- The report was filed and signed on May 14, 2026.
- The information was furnished under Item 2.02 (Results of Operations and Financial Condition).
- Landen Fredrick, the company's CEO, signed the report.
Mannatech received a Nasdaq delisting notice for failing to maintain the minimum $2.5 million stockholders' equity requirement, reporting a deficit of $5.22 million as of December 31, 2025. The company has until June 4, 2026, to submit a compliance plan and faces a significant $7.7 million equity gap to regain compliance.
🚩 Red Flags
- Negative stockholders' equity of ($5,223,000).
- Explicit reference to the company's 'going concern condition' in forward-looking statements.
- Failure to meet any of the three alternative Nasdaq listing criteria.
- Significant capital gap ($7.7M) relative to the company's likely micro-cap valuation.
📋 Key Facts
- Received Nasdaq notice on April 20, 2026, regarding non-compliance with Listing Rule 5550(b)(1).
- Reported stockholders' equity deficit of ($5,223,000) as of December 31, 2025.
- Total deficiency is approximately $7.7 million relative to the $2.5 million threshold.
- Company fails alternative listing standards including market value of listed securities ($35M) and net income ($500k).
- Deadline to submit a compliance plan is June 4, 2026, with a potential extension to October 17, 2026.
- Proposed recovery actions include intercompany balance restructuring and operational cost reductions.
Mannatech, Inc. announced its financial and operating results for the fourth quarter and fiscal year ended December 31, 2025. The disclosure was made via a press release furnished as an exhibit to the filing.
📋 Key Facts
- Reporting period: Fourth quarter and full year ended December 31, 2025
- Filing date: April 15, 2026
- Disclosed under Item 2.02: Results of Operations and Financial Condition
- Exhibit 99.1 contains the detailed press release with financial figures
Mannatech, Inc. filed a notification of late filing for its 2025 Annual Report (Form 10-K) because its independent auditor raised a potential going concern issue. The company is currently evaluating cost-reduction plans and remediation efforts to address the auditor's concerns.
🚩 Red Flags
- Explicit auditor warning regarding the company's ability to continue as a going concern.
- Inability to file the Annual Report (Form 10-K) on time.
- Urgent need for a cost-reduction plan to mitigate financial repercussions.
📋 Key Facts
- The company filed Form 12b-25 on April 1, 2026, for the fiscal year ended December 31, 2025.
- Independent auditors raised the possibility of a 'going concern' issue during the audit process.
- Management is reviewing a cost-reduction plan and consulting with third-party tax advisors as part of its remediation assessment.
- The company expects to file the Form 10-K within the 15-day extension period provided by Rule 12b-25.
Mannatech, Inc. announced that CFO James Clavijo's employment agreement will not be renewed and is set to expire on June 30, 2026. The company has appointed its current Controller, Yasir Haider, as Interim CFO effective March 20, 2026, to manage the transition.
🚩 Red Flags
- Departure of a key executive (CFO) in a micro-cap company.
- The use of an 'Interim' CFO suggests a permanent successor was not immediately available or selected.
- Non-renewal of an employment agreement can sometimes indicate underlying disagreements on strategy or financial performance.
📋 Key Facts
- The Company formally notified CFO James Clavijo on March 19, 2026, that his employment agreement would not be renewed.
- Mr. Clavijo's agreement expires on June 30, 2026.
- Mr. Clavijo will receive three months of base salary following the expiration of the term.
- Yasir Haider, the Company's Controller since January 6, 2025, was appointed Interim CFO on March 20, 2026.
- Mr. Haider has prior experience as a CFO and Financial Controller with SEC reporting and M&A expertise.
Mannatech, Incorporated issued an 8-K to announce its financial and operating results for the third quarter ended September 30, 2025.
📋 Key Facts
- Report date: November 12, 2025
- Reporting period: Third Quarter ended September 30, 2025
- The filing serves as a cover sheet for the earnings press release (Exhibit 99.1)
Mannatech, Inc. entered into three separate Loan Extension Agreements with its Chairman of the Board (J. Stanley Fredrick), second largest shareholder (Tyler Rameson via Jade Capital LLC), and director Kevin Robbins. The agreements extend the maturity date for $2.9 million in outstanding principal to March 31, 2027.
🚩 Red Flags
- Related-party transactions involving the Chairman and major shareholders.
- The use of debt from insiders/directors specifically to fund 'general working capital' often indicates liquidity constraints or difficulty securing traditional third-party financing.
- Concentration of debt among key insiders creates potential conflicts of interest regarding company direction and solvency.
📋 Key Facts
- Three separate Loan Extension Agreements signed on September 9, 2025.
- Aggregate outstanding principal amount is $2.9 million (reduced from $3.6 million following a $0.7 million prepayment on November 30, 2024).
- The lenders are J. Stanley Fredrick (Chairman/Largest Shareholder), Tyler Rameson (Second Largest Shareholder via Jade Capital LLC), and Kevin Robbins.
- New maturity date for all notes is March 31, 2027.
- Purpose of extension: to provide additional time for general working capital needs.
Mannatech, Incorporated filed an 8-K to announce its financial and operating results for the second quarter ended June 30, 2025. The filing serves as a formal announcement of the earnings release issued on May 13, 2025.
📋 Key Facts
- Report date: August 12, 2025
- Reporting period: Second Quarter ended June 30, 2025
- The filing includes a press release (Exhibit 99.1) regarding financial and operating results.
- Signed by Landen Fredrick, Chief Executive Officer.
Mannatech, Incorporated announced the resignation of its Chief Operating Officer, Peter Griscom, effective August 8, 2025.
📋 Key Facts
- Peter Griscom resigned from his position as Chief Operating Officer (COO).
- The resignation was notified to the Board of Directors on July 21, 2025.
- The departure is effective August 8, 2025.
Mannatech, Inc. announced the promotion of Peter Griscom to Chief Operating Officer (COO), effective July 1, 2025. Mr. Griscom previously served as Senior Vice President of Global Operations.
📋 Key Facts
- Peter Griscom promoted to COO effective July 1, 2025.
- Griscom has been SVP of Global Operations since August 21, 2024.
- Griscom previously served as SVP of Product, Innovation, & Supply Chain from July 3, 2023, to August 20, 2024.
- The promotion is part of a leadership transition within the company's executive team.
Mannatech, Inc. announced the results of its 2025 Annual Shareholders' Meeting held on June 3, 2025. The meeting included the election of two directors and advisory votes on auditor ratification and executive compensation.
📋 Key Facts
- Meeting held on June 3, 2025, with approximately 77.8% of total shares outstanding represented (1,478,342 shares).
- J. Stanley Fredrick and Tyler J. Rameson were elected as Class II directors.
- Shareholders ratified the appointment of BDO USA, P.C. as independent public accounting firm for fiscal year ending Dec 31, 2025.
- Shareholders approved 'Say-on-Pay' (Executive Compensation) on an advisory basis.
- Shareholders approved a 1-year frequency for future executive compensation votes.
Mannatech, Incorporated filed an 8-K to announce its financial and operating results for the first quarter ended March 31, 2025. The filing serves as a formal announcement of the earnings release.
📋 Key Facts
- Report date: May 13, 2025
- Reporting period: First Quarter ended March 31, 2025
- The company issued a press release (Exhibit 99.1) containing the financial results.
Mannatech, Incorporated issued an 8-K to announce its financial and operating results for the fourth quarter ended December 31, 2024. The filing serves as a formal notification that a press release containing these results was issued on March 25, 2025.
📋 Key Facts
- Reporting period: Fourth Quarter ended December 31, 2024.
- Press release date: March 25, 2025.
- Filing date: March 26, 2025.
- The filing includes Exhibit 99.1 containing the full press release.
Mannatech, Inc. announced the appointment of Robert A. Toth as a non-employee board member and Vice Chairman of the Board, effective December 1, 2024.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- Robert A. Toth appointed as Vice Chairman of the Board of Directors.
- Appointment is effective December 1, 2024.
- Mr. Toth will serve as a Class III director.
- Compensation includes standard non-employee director compensation plus an additional $30,000 annually for the Vice Chairman role.
- Mr. Toth previously served on the Board from March 2008 through May 31, 2023.
Mannatech, Inc. filed an 8-K to announce its financial and operating results for the third quarter ended September 30, 2024.
📋 Key Facts
- Report date: November 12, 2024
- Reporting period: Third Quarter ended September 30, 2024
- The filing includes a press release (Exhibit 99.1) detailing financial and operating results.
Mannatech Inc. has been approved to transfer its listing from the Nasdaq Global Market to the Nasdaq Capital Market, effective September 30, 2024. This move follows a previous notice of non-compliance regarding the minimum net equity requirement of $10.0 million.
🚩 Red Flags
- Downgrade in market tier (Global Market to Capital Market) due to failure to meet minimum net equity requirements ($10M threshold).
- History of non-compliance with Nasdaq listing rules as previously disclosed on August 19, 2024.
📋 Key Facts
- Nasdaq approved application to transfer listing under Rule 5810(c)(3)(A) on September 26, 2024.
- Transfer to The Nasdaq Capital Market is effective at the start of trading on September 30, 2024.
- The company was previously notified on August 19, 2024, that it failed to meet the $10.0 million minimum net equity requirement for the Global Market.
- Trading symbol 'MTEX' remains unchanged.
Mannatech, Inc. received a notice from Nasdaq stating it is non-compliant with the minimum stockholders' equity requirement of $10 million after reporting $8,199,000 as of June 30, 2024. The company has until October 3, 2024, to submit a plan to regain compliance.
🚩 Red Flags
- Delisting notice from Nasdaq due to insufficient stockholders' equity.
- Significant shortfall in required capital (approx. $1.8M below minimum threshold).
- Risk of delisting could adversely affect the liquidity and price of common stock.
📋 Key Facts
- Stockholders' equity was $8,199,000 as of June 30, 2024.
- Nasdaq Global Market Listing Rule 5450(b)(1)(A) requires a minimum of $10,000,000 in stockholders' equity.
- The company has until October 3, 2024, to submit a plan to regain compliance.
- If the plan is accepted, an extension could be granted until February 15, 2025, to evidence compliance.
- The company is considering transferring its listing to the Nasdaq Capital Market as an alternative.
Mannatech, Inc. filed an 8-K to announce the release of its financial and operating results for the second quarter ended June 30, 2024.
📋 Key Facts
- Report date: August 13, 2024
- Reporting period: Second Quarter 2024 (ended June 30, 2024)
- The filing includes a press release regarding financial results as Exhibit 99.1.
- Signed by Landen Fredrick, CEO and Interim CFO.
Mannatech, Inc. announced the appointment of James Clavijo as Chief Financial Officer (CFO), effective July 1, 2024. He replaces Landen Fredrick, who has been serving in an interim CFO capacity since January 2024.
🚩 Red Flags
- Interim CFO role held by CEO since January 2024 suggests recent financial leadership instability or vacancy.
📋 Key Facts
- James Clavijo appointed as CFO, principal financial officer, and principal accounting officer on July 1, 2024.
- Landen Fredlock (CEO) relinquishes his role as interim CFO.
- Clavijo's compensation includes a $275,000 annual base salary and eligibility for the annual executive bonus program.
- Clavijo is granted an option to purchase 4,500 shares of common stock under the 2017 Stock Incentive Plan.
- A one-time relocation allowance of $15,000 was provided to Clavijo.
Mannatech, Inc. reported the results of its 2024 Annual Shareholders' Meeting held on June 11, 2024. The meeting included the election of two directors and advisory votes on auditor ratification and executive compensation.
📋 Key Facts
- The 2024 Annual Shareholders' Meeting was held on June 11, 2024.
- Quorum represented approximately 62.1% of total shares outstanding (1,169,637 shares).
- Larry A. Jobe and Kevin Robbins were elected as Class I directors.
- Shareholders ratified the appointment of BDO USA, P.C. as independent public accounting firm for fiscal year 2024.
- Shareholders approved executive compensation on an advisory basis ('Say-on-Pay').
Mannatech, Inc. filed an 8-K to announce its financial and operating results for the third quarter ended March 31, 2024. The filing serves as a formal announcement of the earnings release.
🚩 Red Flags
- Interim CFO role noted in signature block, which can sometimes indicate recent management turnover or instability, though not explicitly stated as a departure in this filing.
📋 Key Facts
- Report date: May 14, 2024
- Reporting period: Third Quarter ended March 31, 2024
- The company issued a press release (Exhibit 99.1) containing the results.
- Landen Fredrick signed as both CEO and Interim CFO.
Mannatech, Inc. entered into three separate unsecured promissory notes totaling $3.6 million with Board members and major shareholders to fund working capital and technology investments. The loans carry a high interest rate of 16% and are due in September 2026.
🚩 Red Flags
- Related-party transactions: All lenders are current Board members and major shareholders.
- High cost of capital: The 16% annual interest rate is significantly high for secured/unsecured debt in many market environments.
- Dependency on insiders: The company is relying on its own directors to provide essential working capital, which may indicate difficulty accessing traditional institutional credit.
📋 Key Facts
- Total aggregate principal amount: $3,600,000
- Lenders: J. Stanley Fredrick (Chairman/Largest Shareholder), Tyler Rameson via Jade Capital, LLC (Second Largest Shareholder), and Kevin Robbins.
- Individual note amounts: $2,500,000; $1,000,000; and $100,000.
- Interest Rate: 16% per annum.
- Maturity Date: September 30, 2026.
- Purpose of funds: General working capital, vendor payments, non-US expansion, and technology/software investments.
- A third-party fairness opinion was obtained on April 15, 2024, stating terms are fair.
Mannatech, Inc. filed an 8-K to announce its financial and operating results for the fourth quarter ended December 31, 2023.
📋 Key Facts
- Report date: March 28, 2024
- Reporting period: Fourth Quarter ended December 31, 2023
- The filing includes a press release (Exhibit 99.1) detailing financial results.
- Signed by Landen Fredrick, Chief Operating Officer and Interim CFO.
Mannatech, Inc. announced the retirement of CEO Alfredo Bala and the promotion of Landen Fredrick to President and CEO, effective April 1, 2024. Mr. Fredrick will also continue serving as the interim CFO until a permanent replacement is found.
🚩 Red Flags
- Succession involves a family member (son of the Chairman/major shareholder), raising potential related-party governance concerns.
- Dual role: The new CEO is also serving as the interim CFO, creating a concentration of executive responsibility and potential internal control risks during the transition.
- The company lacks a permanent CFO at the time of this leadership change.
📋 Key Facts
- CEO Alfredo (Al) Bala retiring effective April 1, 2024; transitioning to an advisory role on the same date.
- Landen Fredrick promoted to President and CEO effective April 1, 2024.
- Landen Fredrick will continue as interim CFO until a permanent hire is made.
- Fredrick's base salary increased to $325,000 for 2024 following the promotion.
- The new CEO is the son of J. Stanley Fredrick, the Company's Chairman and a major shareholder.
Mannatech, Inc. announced the resignation of its Chief Financial Officer, David A. Johnson, effective January 22, 2024. The company's President and COO, Landen Fredrick, will assume the CFO role on an interim basis until a permanent replacement is found.
🚩 Red Flags
- Succession risk due to sudden CFO departure.
- Potential related-party concerns: The interim CFO (Landen Fredrick) is the son of the Board Chairman and a major shareholder.
- Related-party transaction history: Significant cash donations ($0.5M-$0.6M annually) made by the company to a foundation chaired by the interim CFO.
📋 Key Facts
- CFO David A. Johnson resigned effective January 22, 2024.
- Landen Fredrick (President and COO) appointed as interim CFO.
- Landen Fredrick is the son of J. Stanley Fredrick, the Chairman of the Board and a major shareholder.
- The company made cash donations of $0.6 million to the M5M Foundation in 2022 and approximately $0.5 million in 2023; Landen Fredrick is the chairman of said foundation.