Michael Johnson Herbalife chairman and CEO On Bill Ackman on the conference call with investors. As noted it was not the same without Tim Ramey, who has pulled some questionable tactics, but it was entertaining to hear the Herbalife CEO sound like he was on the verge of a meltdown while attacking Ackman by name on the call. The rest of the 27 pages have been omitted, but check our twitter account for some information.

The direct selling business model is designed to provide economic empowerment. People want supplemental income [ Indiscernible ] full-time business.

Bill Ackman Pershing Square Herbalife
Herbalife

We engage independent a reputable survey research firms to get a close of your business. Specifically [ Indiscernible ] Lieberman research worldwide.

Their researches proven but the majority of our members joined Herbalife Ltd. (NYSE:HLF) as the primary purpose of Bryner product of a discount. With another segment of the members who [ Indiscernible ] or supplemental income.

Our research indicates that approximately 4% of our members join Herbalife Ltd. (NYSE:HLF) or the opportunity to earn a full-time income.

These two large [ Indiscernible ] along with others such as anti aging and public health continue to give us a favorable platform in which are members of products drive throughout the 91 countries in which we operate.

This intersection of mega trends with their products that are actively engaged sales leaders have resulted in a record after record financial performance on both the top and bottom line.

Analyst to get closer look at this past year.

Herbalife record performance in double-digit growth

Herbalife Ltd. (NYSE:HLF) is able to produce another record performance in double-digit growth constant and unrelenting attack by shortselling [ Indiscernible ] further testament to the integrity of our business model and the value of our product.

As many of you know Bill Ackman the Wall Street gamblers who [ Indiscernible ] reckless $1 billion short [ Indiscernible ] then stance again financial for Herbalife Ltd. (NYSE:HLF) loses expensive publicity campaign [ Indiscernible ] to misleading information about Herbalife.

Herbalife: Bill Ackman fall significantly

Most of fortunately we have seen Bill Ackman fall significantly [ Indiscernible ] by others.

They knows disappointed the don’t be surprised.

Let me focus on to that’s.

Proven facts supported by independent research that undermine [ Indiscernible ] of reckless argument.

First we have millions of customers.

Three separate research studies performed by to separate leading research companies confirmed that there are millions of Herbalife Ltd. (NYSE:HLF) customers and that the overwhelming majority are outside the network.

This information is in disputed and directly disprove that him [ Indiscernible ] about our company distribution model.

Second most people join Herbalife forages, products.

The vast majority members do not join Herbalife Ltd. (NYSE:HLF) for the business opportunity rather they join to take advantage of the discount offered on Herbalife’s rocket leading weight management sporting tuition and other high-quality products.

This information is validated did not only third-party research but also by our internal database them performance in which 71% of US members of not — never sponsored enough remember.

These two points that we have millions of customers in the majority of our members are for product discounts and not the the business opportunity disprove Bill Ackman [ Indiscernible ]. Our transparency with figures like these and the fact that they are true while what Bill Ackman [ Indiscernible ] is misleading for center move away from and easily dispelled [ Indiscernible ] argument and is said to Purdue in any total campaign.

For more the near Bill Ackman pay consultants in Washington DC called the country to find voices of a very small minority of current [ Indiscernible ] pass disgruntled employee [ Indiscernible ] as bad so that people will think that bad behavior and the practices of this you are somehow representative of the whole.

Of force in the company as large as Herbalife Ltd. (NYSE:HLF) and with as many members a have a few bad actors but from my point of view even the one bad actor or disgruntled employee is one too many.

And that is why we are putting our gold standards consumer protection policy.

I would find it surprising that anyone believes that Wall Street financier [ Indiscernible ] is really looking out for these people.

If you were he would not be trying to bring down the company 7400 hard-working people and improving the lives of millions of satisfied members and customers who value the product and in some cases get additional income.

We Herbalife on the other hand are thinking about these people.

We allow members an easy entry and an easy exit.

For example in the US new members get the various sizes each costing less than $90 and contain several products that have a retail value that exceeds the cost of the kit having generous refund policy.

We provide a new members 100% refund on starter kits within 90 days of purchase and we do not require the individual to even return the kit.

We have and industry-leading inventory return policy upon residing the members entitled to 100% refund on all products returned that are unopened and have been purchased in the prior 12 months.

We even pay for the cost of shipping on the return products.