Crazed JetBlue Pilot Was Also Direct Marketer For Visalus

According to the Associated Press, Clayton Osborn, the JetBlue pilot who went berserk earlier this week had a side gig selling nutritional shakes with multi-level marketing firm ViSalus.

Another longtime friend, Bill Curley, said Osbon is a Christian who has become "increasingly" religious but wasn't fanatical.

Osbon was also a direct marketer for health shakes sold by Visalus Sciences, a marketing company based in Troy, Mich. Ashley Guerra, a fellow Visalus marketer in Georgia, said she saw Osbon just last weekend and that he appeared friendly and helpful as usual.

ViSalus was one of the multi-level marketing companies who successfully recruited many directors away from YTB several years ago.

YTB Anticipates $5 Million Dollar Loss For 2011

YTB has postponed filing it's 10-K (Annual Report) to the SEC due to the abrupt resignation of their CFO in March.  In the filing, YTB was required to note any significant change in results from the prior year. They reported an anticipated loss of $5 million.

The Registrant anticipates that it will report significant changes in its results of operations for its fiscal year ended December 31, 2011 compared to its fiscal year ended December 31, 2010.  Based on the information available at this time, the Registrant anticipates a net loss of $5.0 million or $(0.04) per diluted share compared to a net loss of $4.0 million or $(0.04) per diluted share for the comparable prior year ended December 31, 2010.  Net revenues are anticipated to be $26.4 million in 2011 compared to $36.4 million reported in 2010.  Total operating expenses for 2011 are expected to be $31.4 million compared to $40.0 million reported in 2010.  

Last year, the company lost $4 million according to their 10-K. YTB has not had a positive year-end report in more than 6 years.

YTB's Ship Must Be Sinking Yet Again

What has happened to YTB lately?  Well, the stock that was going to make everyone wealthy beyond their imagination is about to go for under a penny a share.  Today, as the Dow is in record territory, YTB's stock is trading at 1.3 cents. The 52 week high for this stock is 18 cents.  The Market Cap (value) of the company is at an historical low of $1.6 million.

The 10-K for YTB is due to be filed with the SEC by the end of this month. The last report (10-Q) was not covered here at all--it was more of the same....reps down, travel agents down, losses up, revenues down.  Yet YTB remains bullish on their ability to sell coffee and girdles. When the 10-K comes out, we will be better able to analyze it.

In an 8-K filed with the SEC today, YTB announced that their CFO, Jeffrey Hermann has decided to jump ship on March 14th. This will leave CEO (and wife of YTB Exclusive Supplier) Bob Patten as the acting CFO. This is a role in which he is familiar as YTB has seen many top executives leave in the past few years.

Also in the 8-K, the terms of the agreement with Sixth Scott, LLC for the asset purchase of YTB have been changed. From the language, it seems that the performance was not as expected and rather than paying YTB a fixed sum of money, the revised agreement is based on an earn-out based on the productivity (or lack of) of the network.  The 8-K also alluded that the current employees of YTB operating within the asset groups being acquired will likely be terminated.