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<SEC-DOCUMENT>0001019056-05-001033.txt : 20051006
<SEC-HEADER>0001019056-05-001033.hdr.sgml : 20051006
<ACCEPTANCE-DATETIME>20051006171714
ACCESSION NUMBER:		0001019056-05-001033
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050929
ITEM INFORMATION:		Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20051006
DATE AS OF CHANGE:		20051006

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATURAL HEALTH TRENDS CORP
		CENTRAL INDEX KEY:			0000912061
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-MISCELLANEOUS NONDURABLE GOODS [5190]
		IRS NUMBER:				592705336
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26272
		FILM NUMBER:		051127763

	BUSINESS ADDRESS:	
		STREET 1:		12901 HUTTON DRIVE
		STREET 2:		--
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
		BUSINESS PHONE:		972-241-4080

	MAIL ADDRESS:	
		STREET 1:		12901 HUTTON DRIVE
		STREET 2:		--
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>natural_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<HEAD>
<TITLE></TITLE>
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<body>

<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 OR 15(d) of The Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Date of Report (Date of earliest event reported)&nbsp;<FONT style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  &nbsp;September&nbsp;29, 2005&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></DIV>
<br>
<br>
<DIV align="center" style="font-size: 20pt; margin-top: 12pt"><B>NATURAL HEALTH TRENDS CORP.</B>
</DIV>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 1pt; width: 100%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of Company as specified in its charter)</DIV>
<br>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top">Delaware
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0-26272
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">59-2705336</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction<BR>
of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">IRS Employer<BR>
Identification No.)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">12901 Hutton Drive&nbsp;&nbsp;&nbsp; Dallas, TX
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">75234</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
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</DIV>
<br>
<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Company&#146;s telephone number, including area code&nbsp;<FONT style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(972)&nbsp;241-4080&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></DIV>
<br>
<br>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 100%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
<DIV align="center" style="font-size: 10pt">(Former name or former address, if changed since last report.)</DIV>

<br>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the Company under any of the following provisions
(see General Instruction A.2. below):
</DIV>
<br>


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<TR VALIGN=TOP>
<TD WIDTH="3%"><FONT FACE="WINGDINGS" SIZE="2">&#168;</FONT></TD>
<TD WIDTH="97%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR>
</TABLE>

<TABLE WIDTH="100%" CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH="3%"><FONT FACE="WINGDINGS" SIZE="2">&#168;</FONT></TD>
<TD WIDTH="97%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR>
</TABLE>

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<TR VALIGN=TOP>
<TD WIDTH="3%"><FONT FACE="WINGDINGS" SIZE="2">&#168;</FONT></TD>
<TD WIDTH="97%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Pre-commencement
communications pursuant to Rule 14d-2(b) under the  Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR>
</TABLE>

<TABLE WIDTH="100%" CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH="3%"><FONT FACE="WINGDINGS" SIZE="2">&#168;</FONT></TD>
<TD WIDTH="97%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Pre-commencement
communications pursuant to Rule 13e-4(c) under the  Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
</TR>
</TABLE>

<BR>



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<BR>
<H2 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 3.01.&nbsp;&nbsp;  Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;&nbsp; Transfer of Listing.</font></h2>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As a result of the management reorganization described under Item 5.02 below,  the Audit Committee of Natural Health Trends Corp. (the "Company")
            is not comprised of three independent directors as required by Rule 4350(d)(2) of The Nasdaq Stock Market. Accordingly, on October 5, 2005  the Company
            notified the Nasdaq Staff of its non-compliance and that it intends to appoint an additional independent director to its Audit Committee in the near future.</font></p>







<H2 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 5.02.&nbsp;&nbsp;  Departure of Directors or Principal Officers;&nbsp; Election of
      Directors;<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Appointment of Principal Officers</FONT></H2>


<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;                         On September 29, 2005, the Board of Directors of  the Company appointed Robert H. Hesse, a member of the Company's Board of Directors since July
            2004, as the Company's Interim Chief Executive Officer effective October 3, 2005. The Company has also formed a search committee to identify and consider
            appropriate candidates to serve as the Company's Chief Executive Officer.  While serving as the Company's Interim Chief Executive Officer, the Company will pay
            Mr. Hesse $2,000 per day plus reimbursement of out-of-pocket expenses.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;                         In addition, effective October 3, 2005, each of Mark D. Woodburn, the Company's President, and Terry L. LaCore, the Chief Executive Officer of the
            Company's Lexxus International, Inc. subsidiary, will no longer serve as officers of the Company due to their failure to cooperate with an investigation
            conducted by the Company's Audit Committee.  The investigation was initiated in August 2005 and includes allegations of misconduct asserted by an unrelated
            third party arising out of a lawsuit involving Mr. LaCore and such unrelated third party.  Although each of Messrs. Woodburn and LaCore have resigned as
            members of the Company's Board of Directors effective October 3, 2005, they  will continue to be employed as the Company's Global Managing Director -
            Operations and  Global Managing Director - Business Development, respectively.  The Audit Committee's investigation is ongoing.</font></p>


<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;                         The Company also created the Office of the Chief Executive which is comprised of Mr. Hesse, Chris Sharng, the Company's Executive Vice President
            and Chief Financial Officer, and Richard S. Johnson, the Company's President - Japan.  The Office of the Chief Executive will be responsible for managing the
            day-to-day operations of the Company.  Since Mr. Hesse will no longer be considered to be an independent director, he has resigned from the Company's Audit
            Committee.  The Company's Nominating Committee will identify, review and evaluate appropriate candidates for appointment to the Board of Directors as
            independent directors.</font></p>


<H2 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 9.01.&nbsp;&nbsp;Financial Statements and Exhibits.</font></h2>


<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(d)&nbsp;&nbsp;&nbsp; Exhibits</FONT></P>

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<TD WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B>Exhibit<BR><U>Number</U></B></FONT></FONT> </TD>
<TD WIDTH="92%"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><BR><B><U>Description</U></B></FONT></FONT> </TD>
</TR>
</TABLE>
<BR>


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<TD WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;99. </FONT></TD>
<TD WIDTH="92%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"> Press
Release of the Company dated October 6, 2005. </FONT></TD>
</TR>
</TABLE>




<br>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2 </FONT></P>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES</FONT></H1>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the Company has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized. </FONT></P>



<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>NATURAL HEALTH TRENDS CORP.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date:&nbsp;&nbsp; October 6, 2005&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/&nbsp; ROBERT H. HESSE
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Robert H. Hesse&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Interim Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>









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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex_99.htm
<DESCRIPTION>EXHIBIT 99
<TEXT>
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<H3 ALIGN=right><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Exhibit 99</font></h3>

<H3 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=3>NATURAL HEALTH
TRENDS CORP.</FONT></H3>

<H3 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Robert H.
Hesse, Interim Chief Executive Officer<br>
972-241-4080</FONT></H3>

<H3 ALIGN=right><FONT FACE="Times New Roman, Times, Serif" SIZE=3>      FOR IMMEDIATE RELEASE </FONT></H3>


<p align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=3><b>NATURAL HEALTH
TRENDS CORP. ANNOUNCES <br>
MANAGEMENT
REORGANIZATION</b></FONT></P>

<p align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=3>      Company Appoints New Interim CEO and Will Add Independent Directors to<br>
                                Enhance Corporate Governance</font></p>


<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>DALLAS,  TX, October 6, 2005 - Natural Health Trends Corp., an international  direct selling
company  (NASDAQ NMS:  BHIP),  today  announced the appointment of Robert H. Hesse, a member
of the Company's  Board of Directors and Audit  Committee  since July 2004, as the Company's
Interim Chief  Executive  Officer.  Mr. Hesse has been an investor and consultant to Natural
Health Trends Corp. since 2001, and has over 35 years of investment banking experience.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#147;I have watched
Natural Health Trends Corp. evolve in the past 4 years from a small direct
selling business in North America, to a multinational organization doing
business in over 30 countries, with revenues in excess of $92 million in the
first half of this year. In order to help the Company achieve its vision, the
Board of Directors has asked me to play a more active role in management and
enhance our corporate governance focus, while also concentrating our Company
resources on our largest growth opportunities: expanding our Lexxus business in
Mexico, Japan and China. With these objectives in mind, we have formed an Office
of the Chief Executive made up of Richard S. Johnson, President of Natural
Health Trends &#150; Japan, Chris Sharng, the Company&#146;s Chief Financial
Officer, and myself. Both Dick and Chris have been the President and
Representative Officer and Vice President of Finance, respectively, of
multi-billion dollar organizations. The experience and dedication of these two
seasoned professionals, will serve me well in guiding Natural Health Trends
Corp. to attain these goals,&#148; stated Mr. Hesse. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>In addition, effective
October 3, 2005, each of Mark D. Woodburn, the Company&#146;s President, and
Terry L. LaCore, the Chief Executive Officer of the Company&#146;s Lexxus
International, Inc. subsidiary, will no longer serve as officers of the Company
due to their failure to cooperate with an ongoing investigation conducted by the
Company&#146;s Audit Committee. Although each of Messrs. Woodburn and LaCore
have resigned as members of the Company&#146;s Board of Directors effective
October 3, 2005, they will continue to be employed as the Company&#146;s Global
Managing Director &#150; Operations and Global Managing Director &#150; Business
Development, respectively. </FONT></P>





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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#147;I am excited about
devoting my full time and attention to making Natural Health Trends Corp.
successful and I know that Mark Woodburn and Terry LaCore look forward to
concentrating their efforts on working with our expanding network of independent
distributors,&#148; commented Mr. Hesse. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Mr.  Hesse is formerly  president  of the  Dorchester  Group Inc.,  a venture  banking  firm
founded in 1992. He was president of Swartwood,  Hesse Inc. from 1981-1992.  Mr. Hesse,  62,
has been involved in the  management  and boards of directors of several  private and public
companies and holds a bachelor's degree in philosophy.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Natural Health Trends Corp.
is an international direct-selling company operating in more than 30 markets
throughout Asia, North America, Eastern Europe and Latin America. The Company
markets premium quality personal care products under the Lexxus brand and
markets its nutritional supplement products under the Kaire brand. Additional
information can be found on the Company's website, and management encourages
interested parties to register for updated corporate information via e-mail on
the Company's homepage, <U>www.naturalhealthtrendscorp.com</U>. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Safe
Harbor Statement under the Private Securities Litigation Reform Act of 1995 --
Forward-looking statements in this release do not constitute guarantees
of future performance. Such forward-looking statements are subject to
risks and uncertainties that could cause our actual results to differ
materially from those anticipated. Such statements may relate, among
other things, to our relationship with our distributors; our need to
continually recruit new distributors; our internal controls and accounting
methods that may require further modification; regulatory matters governing
our products and network marketing system; our ability to recruit and
maintain key management;  adverse publicity associated with our products
or direct selling organizations; product liability claims; our reliance
on outside manufacturers; risks associated with operating
internationally, including foreign exchange risks; product concentration;
dependence on increased penetration of existing markets; the competitive
nature of our business; and our ability to generate sufficient cash to
operate and expand our business. For a more detailed discussion of the
risks and uncertainties of our business, please refer to our Annual
Report on Form 10-K for the fiscal year ended December 31, 2004 filed with the
Securities and Exchange Commission. We assume no obligation to update
any forward-looking information contained in this press release or with
respect to the announcements described herein.</I></FONT></p>

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