filed by Paul J. Denby
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Since October 13, 2006, Denby has used personal funds to purchase an aggregate of 795,000 shares of the Company's Common Stock (the "Shares") for an aggregate price of $1,412,251 in open-market transactions on Nasdaq, except for the purchase of 385,000 Shares on October 22, 2009, which was in a private placement of Shares issued to Denby by the Company.

Denby acquired the Shares as an investment in the Company. With a view to preserving value in his previous stake of 410,000 shares, Denby provided liquidity to the Company in exchange for 385,000 shares at $0.65 per share in a private placement of shares issued by the Company.

Denby has rendered, and is prepared to continue to render, business counsel to the Company, particularly with respect to the Company’s skincare products – an area in which Denby has extensive experience. Denby supports the plans of the incumbent directors and management of the Company to redirect and refocus the Company’s goals and efforts. He is amenable to joining the Board of Directors, if the incumbent directors so desire.
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Denby has committed to a further investment of $149,500 for 230,000 additional shares in the Company.

Denby has invested with James Sight in Feldman Properties:
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Three Mall Owners Struggle with Pressure To Sell
Feldman Mall Properties, Pyramid Companies and Glimcher Seeing No Market for Mall Portfolios
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Print this articleBy Sasha M Pardy
March 19, 2008

Last spring, two mall owners, Great Neck, NY-based REIT Feldman Mall Properties (NYSE:FMP) and privately held Syracuse, NY-based Pyramid Companies, said they would shop their portfolios. Now, nearly a year later, no such sales have come to fruition. But that hasn't discouraged Glimcher Realty Trust (NYSE:GRT), which recently adopted a strategy to shed its non-core malls.

Does no market currently exist for a company or large portfolio transaction of malls located primarily in non-major markets? RBC Capital Markets analyst Rob Moore thinks so. But decide yourself by reviewing how it has played out for Feldman, Pyramid and Glimcher.

On Mar. 4, 2008 Sight filed again to report he had upped his stake to 6.5% and scold Feldman for failing to produce results from the strategic alternatives process, among other things. Sight warned the board he might initiate a move by shareholders to replace the outside directors of the company.

Simultaneously, investor Paul J. Denby reported a 5.4% stake in Feldman and echoed Sight's complaints, saying he desired "to effectuate a change in the Board of Directors." Like Sight, Denby was also not impressed that the board has yet to act on its share repurchase program and added that Feldman should sell the company, including a go-private transaction.