Power Balance Bankruptcy Causes Competitors to Speak Up
LOGAN, Utah, Dec. 28, 2011 /PRNewswire/ — Industry leader Power Balance recently announced their filing for bankruptcy after year-end reports show the company has suffered a new loss of more than $9 million in the last year, following a record-breaking $11.7 million profit from last year.
The company has suffered major losses due to a struggle with a class action lawsuit originating from “inappropriate marketing claims” from an Australian distributor. Advertisements claimed the wristbands would improve balance, strength, and flexibility, claims the company later admitted had no scientific basis.
“Companies like this are the ones that make it hard on the rest of us, the ones producing a real product with scientifically proven results,” said Josh Taylor, Director of Retail Channel Development at LifeStrength.
Stander, Inc., leading producer of senior home safety products and LifeStrength partner, says this will help consumers make a more educated, scientifically based decision the next time they go to purchase a negative ion bracelet. “We did our research,” said Jan Miller, CEO of Stander, Inc. “That’s why we knew a partnership with LifeStrength would be so valuable, because their product is real and has the facts to prove it.”
Negative ion technology isn’t new, with research studies dating back to the 1960s. Recently, however, products like Stander’s LifeStrength health bracelets have successfully harnessed the benefits of negative ion technology, enabling anyone wearing the wristband to benefit from a constant source of negative ions emitted by each band. “Negative ions (or anions) have been proven to help people who suffer from a variety of ailments, including chronic pain symptoms, poor sleep, and low energy,” said Jan. “Anything with so many benefits will represent the Stander name well.”
For more information about Stander’s LifeStrength wristband, please contact:
COO, Stander, Inc.
Stander is committed to making the best in home safety products for seniors. Inspired by CEO Jan Miller’s Grandma Essie, products were specifically designed to meet the needs of loved ones, while still having an aesthetic appeal. With over 30 innovative products behind them, Stander strives to create new products every year, enhancing their reputation as innovators in mobility solutions, helping you rest assured knowing you or your loved one will be kept safe.
SOURCE Stander, Inc.