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The sale of NewAge to John Wadsworth, a co-founder of the original Morinda, has been approved.

On August 30, NewAge, the owner of the MLM firms Noni by NewAge and Ariix, filed for Chapter 11 bankruptcy.

NewAge and DIP Financing LLC executed an asset purchase agreement on the same day.

DIP Financing LLC is a fictitious business registered in Wyoming with a Puerto Rico PO Box.

John Wadsworth is the only designated representative of DIP Financing LLC in the NewAge Asset Purchase Agreement.

Tahitian Noni International was founded in 1996, and Wadsworth was one of the initial co-founders. Operations for non-MLM businesses began in 1993.

Tahitian Noni allegedly chose the MLM business model after John Wadsworth and his colleagues “ran out of money” in a 2011 interview with the Salt Lake Tribune.

In 2012, Tahitian Noni International changed its name to Morinda.

Because Morinda citrifolia is the scientific term for noni, TNI President John Wadsworth said, “The new name keeps loyal to our noni heritage while being wide enough to encompass the new bioactive mission.

The company’s past, present, and future are all represented by the name Morinda.

Morinda received a BehindMLM assessment in December 2015. Because of its emphasis on affiliate autoship recruiting, Morinda might easily operate as a pyramid scam.

In December 2018, Morinda was sold to New Age Beverages. Wadsworth seemed to have departed at that point.

Wadsworth was listed by BehindMLM in December 2016 as one of the six co-founders of Zennoa.

By purchasing Zennoa, Ariix did so in 2018. In 2020, Ariix was acquired by NewAge.

That brings us full circle to the bankruptcy of New Age in 2022.

As to this point, there are

the price at which DIP Financing LLC has agreed to buy NewAge;

if Wadsworth is DIP Financing LLC’s only member; and

what Wadsworth has in mind for Ariix, Noni by NewAge, and NewAge.

According to the September 28th Statements of Financial Affairs, NewAge looks to have been supported by a $3.2 million PPP Loan into 2021.

$2.8 million of the loan amount was forgiven.

Meanwhile, Ariix’s financial situation seems a little precarious. Gross sales for the firm fell from $23.9 million in 2021 to just $15,506 from January to August of the following year.

On August 30, NewAge uploaded a press release confirming its bankruptcy to its website, but the company hasn’t made any additional public acknowledgments.

NewAge has continued to be active on social media during bankruptcy, talking about far more significant matters.

I don’t anticipate any more significant developments, but I’ll keep an eye on NewAge’s bankruptcy filing.

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