“On May 17, 2022, divine intervention stepped in, changed the course of their designs, and now by her own hand, Julie’s Board, her Lawyers, have all become disposal pawns; they have all now become prisoners of their own device. We look forward to locking those doors in the near future.”

- Edward Smolyansky

Julie On The Warpath: Julie and Edward Smolyansky Audio

The Book Launch That Didn't Cook

Julie's book was primarily conceived as a method to supplant and subsidize her officially shrinking compensation in 2018.'

The intent was simple enough: Create a memoir stylized under the guise of a much in demand Kefir Cookbook. Repurpose old recipes, go on a US tour with friends to promote this book and justify the millions in perks and other ancillary benefits provided by the Company to support and fund this obscene and narcissistic endeavor. 

Yet, even more obscene, more self dealing, on Dec 23, the Compensation Committee approved a $2 million “retention bonus” and provided as justification:  “The Executive also granted the Company a royalty-free license to utilize The Kefir Cookbook and the contents for its marketing purposes.”

The cookbook and it's extravagant launch plan had no measurable positive impact on revenues, though it did take CEO Julie Smolyansky and her associates to some exotic and exclusive locations...

Long standing inappropriate personal relationships with Suzie Baleson, Pres. Wellth Collective PR.

The Cookbook's Impact on Revenue Pre Covid-19

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2018: Wellth Collective

The Vanity Projects were all consuming starting in 2018.  Diverting much of the sales and marketing resources to fuel them.  The main goal was to meld “Brand Julie into Brand Lifeway” making the two synonymous with one another

Direct expenses related to Book/Memoirs totaled over $300,000, not including private jet travel to events, 5 star accommodations, entertainment with Chief Executive of PR Firm and entertainment with president of her PR Firm “Wellth Co".

Edward Smolyansky, COO at the time, estimates the total direct and non-direct costs (Sales/Marketing Staff and Resources) to be upwards of $900,000 in 2018 alone. This includes a $12k private plane (see above Instagram Posts) as well as a $55k family vacation in the Hamptons over July 4th 2018.

(As referenced in Crains April 2022)

Lifeway’s 3rd CFO of 2018 first day on the job was July 1, 2018.  These expenses were directly questioned by the CFO and ultimately led to a “Whistleblower Complaint” filed with the Company’s General Counsel.  The CFO was terminated in November 2018.  The General Counsel was terminated Dec 31, 2019.

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Crain's Chicago Business article (pg 4), where he raised concerns about 12K private jet, Hamptons, etc...