Stemtech International Files For Bankruptcy – Thousands Of Distributors in Shock

 

Stemtech International, is an USA based network marketing company and offers innovation, wellness and prosperity in the global marketplace with a patented and patent-protected line of all-natural nutritional products that can be purchased only from Independent Business Partners.

In 2015 the company had a revenue of $52 million in 2016 $43 million.

This month Stemtech's CEO and founder Ray Carter has filed for Chapter 11 bankruptcy, leaving thousands of distributors in the dust, as no public announcements are done by corporate about the situation.

According to Stemtech reasons for the bankruptcy is a long lasting and lost lawsuit against Andrew Paul Leonard a photographer of stem cells, as a lawsuit against a supplier of raw materials Cerule. Total amount creditors is approx. $5 million.

In August 2015 Inc. Magazine has included Stemtech International Inc. on its List of the Fastest-Growing Private Companies in America for the third consecutive year.  Stemtech has now appeared on this prestigious list three years in a row and a fourth time in six years, a feat unmatched by any other company in the direct selling industry.

Seems that ranking was overrated….

About Stemtech and Ray Carter

Ray Carter oversees the strategic direction and day-to-day operations of Stemtech International, Inc., the ground-breaking direct seller of innovative nutritional, personal care and ECO products, based in South Florida. With Carter at the helm, Stemtech has grown rapidly, currently employing over 200 staff members who support operations in more than 50 countries on six continents.

Stemtech is known worldwide as The Stem Cell Nutrition Company®, a leader in the new paradigm of wellness and the developer of a full line of products that enhance the body’s natural daily renewal system, adult stem cells. In the spirit of continuing innovation, in 2016 Stemtech expanded its line to include ECO products to protect the body’s stem cell system.

For 17 years prior to founding Stemtech in 2005, Carter directed growth in both private and public direct selling companies, from start-ups to Fortune 500 firms, including $250-million global organizations. Throughout his distinguished career, Carter has demonstrated extraordinary vision and business acumen that embraces all aspects of corporate management, including product development, procurement, manufacturing, sales and marketing, corporate administration, information systems and finance.

Under Carter’s leadership, Stemtech has earned a reputation as a significant player on the world stage, receiving a Rising Star Award from the Direct Selling Association in 2009 and being named to Inc Magazine’s list of the fastest-growing privately-owned U.S. based companies in four of the last six years, including the last three in a row.

A native of southern New Hampshire, Carter received a Bachelor of Science degree in Business Administration from the University of Maine in 1985 and graduated with honors from Southern New Hampshire University with a Master of Business Administration in Management in 1990. His facility with languages has enabled him to address international gatherings of Stemtech Independent Business Partners and global staff in more than a dozen native tongues.