LifeVantage (LFVN) 8-K Lifevantage Corporation Announces 3Q FY2007 Financial and Operating Results

Exhibit 99.1

FOR IMMEDIATE RELEASE	NEWS
May 14, 2007	OTCBB: LFVN

LIFEVANTAGE CORPORATION ANNOUNCES
3Q FY2007 FINANCIAL AND OPERATING RESULTS

GREENWOOD VILLAGE, Colorado — LifeVantage Corporation (OTCBB: LFVN), formerly Lifeline Therapeutics, Inc., maker of Protandim^®, today announced results for its third quarter ended March 31, 2007. For the three months ended March 31, 2007, the Company recorded net revenues of $1.0 million and a loss of $(0.6 million), or $(0.03) per share. For the three months ended December 31, 2006, the Company recorded net revenues of $1.1 million and a loss of $(1.8 million) or $(0.08) per share. For the three months ended March 31, 2006, the Company recorded net revenues of $1.4 million and a loss of $(0.7 million), or $(0.03) per share.

“We are beginning to realize the positive effects of the cost savings initiatives in the third fiscal quarter”, commented James J. Krejci, CEO. “While we continue to focus on sales, distribution and science, the cost cutting measures are expected to improve our bottom line”, he continued, “and we believe that we can effectively and efficiently operate at this reduced level of expenditure”.

The Company will hold a conference call to discuss the quarter on Tuesday, May 15, 2007 at 2:30 p.m. MT (4:30 p.m. ET). Interested parties may participate in the call by dialing 800-867-1054. A replay of the call will be available by telephone until May 22, 2007 at 800-405-2236 passcode 11089720#.

About Protandim^®

Protandim^® is a unique approach to antioxidant therapy. The patent-pending dietary supplement increases the body’s natural antioxidant protection by inducing naturally occurring protective enzymes, including superoxide dismutase (SOD) and catalase (CAT). Oxidative stress occurs as a person ages, when subjected to environmental stresses, or as an associated factor in certain illnesses. TBARS are laboratory markers for oxidative stress in the body. Data from a scientific study in men and women, sponsored by LifeVantage, show that after 30 days of taking Protandim^®, the level of circulating TBARS decreased an average of 40 percent. With continued use, the decrease was maintained at 120 days. For more information, please visitwww.protandim.com.

About LifeVantage Corporation

LifeVantage Corporation is committed to helping people achieve health and wellness for life. For more information, please visit the Company’s web site atwww.LifeVantage.com.

     This document contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company uses the words “anticipate,” “believe,” “could,” “should,” “estimate,” “expect,” “intend,” “may,” “predict,” “project,” “plan,” “target” and similar terms and phrases, including references to assumptions, to identify forward-looking statements. These forward-looking statements are based on the Company’s current expectations and beliefs concerning future events affecting the Company and involve known and unknown risks and uncertainties

that may cause the Company’s actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include, among others, the risk that government regulators and regulations could adversely affect our business; future laws or regulations may hinder or prohibit the production or sale of our existing product and any future products; unfavorable publicity could materially hurt our business; and the Company’s ability to protect our intellectual property rights and the value of our product. These and other risk factors are discussed in greater detail in the Company’s Annual Report on Form 10-KSB under the caption “Risk Factors”, and in other documents filed the Company from time to time with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this document. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this document, except as required by law.

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CONTACTS:

LifeVantage Corporation
James J. Krejci, CEO	Telephone: 720-488-1711	Fax: 303-565-8700

LIFEVANTAGE CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
March 31, 2007 and June 30, 2006

				(Audited)
	(Unaudited)			June 30, 2006
	March 31, 2007			(Restated)
ASSETS
Current assets
Cash and cash equivalents	$	724,508		$	228,112
Marketable securities, available for sale		—			3,008,573
Accounts receivable, net		389,916			107,892
Inventory		44,056			45,001
Deferred expenses		114,811			152,677
Deposit with manufacturer		414,912			555,301
Prepaid expenses		113,144			316,659
Total current assets		1,801,347			4,414,215
Property and equipment, net		130,626			245,000
Intangible assets, net		2,298,823			2,162,042
Deposits		320,440			316,621
TOTAL ASSETS	$	4,551,236		$	7,137,878
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	333,404		$	613,833
Accrued expenses		403,916			399,305
Deferred revenue		802,958			1,144,950
Capital lease obligations, current portion		2,217			1,985
Total current liabilities		1,542,495			2,160,073
Long-term liabilities
Capital lease obligations, net of current portion		1,453			3,146
Total liabilities		1,543,948			2,163,219
Stockholders’ equity
Common stock, par value $.001, 250,000,000 shares authorized; 22,118,034 issued and outstanding		22,118			22,118
Additional paid-in capital		15,163,056			14,018,487
Accumulated (deficit)		(12,177,886	)		(9,010,339	)
Unrealized (loss) on securities available for sale		—			(55,607	)
Total stockholders’ equity		3,007,288			4,974,659
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	4,551,236		$	7,137,878

LIFEVANTAGE CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

	For the three months ended						For the nine months ended
	March 31,						March 31,
	2007			2006			2007			2006
Sales, net	$	995,274		$	1,390,623		$	4,207,518		$	6,066,967
Cost of sales		213,529			296,089			838,244			1,255,691
Gross profit		781,745			1,094,534			3,369,274			4,811,276
Operating expenses:
Marketing and customer service		504,616			697,644			2,605,616			2,672,031
General and administrative		806,878			997,339			3,606,824			3,103,982
Research and development		57,318			48,276			195,654			48,276
Depreciation and amortization		16,622			68,526			76,636			238,289
Total operating expenses		1,385,434			1,811,785			6,484,730			6,062,578
Operating (loss)		(603,689	)		(717,251	)		(3,115,456	)		(1,251,302	)
Other income and (expense):
Interest income (expense)		15,403			50,924			46,110			106,172
Loss on disposal of assets		—			—			(95,654	)		—
Other (expense)		5,953			(4,584	)		(2,547	)		(16,512	)
Net other income (expense)		21,356			46,340			(52,091	)		89,660
Net income (loss)	$	(582,333	)	$	(670,911	)	$	(3,167,547	)	$	(1,161,642	)
Net income (loss) per share, basic and diluted		($0.03	)		($0.03	)		($0.14	)		($0.05	)
Weighted average shares outstanding, basic and fully diluted		22,118,034			22,117,992			22,118,034			22,117,992