Canaccord Adams Valuation Presentation dated May 12, 2008

Project UNITY

Discussion Materials

Private and Confidential

May 12, 2008

Exhibit 99.(c)

Section A

–

UNITY Financial Overview

Section B

–

UNITY Valuation Data

Table of Contents

Private and Confidential

Section A –

UNITY Financial Overview

Private and Confidential

Private and Confidential

Key Statistics

Bloomberg, Factset, management financials as of 5/12/08.

Data in millions, except volume and per share data.

Current Capitalization

Closing Price 5/12/08

$20.83

Market Capitalization

$340.8

Enterprise Value

$351.3

52-Week High

$51.50

52-Week Low

$18.18

Balance Sheet at 3/31/08

Basic Shares Outstanding

16.4

Fully Diluted shares Outstanding

16.5

Cash & Equivalents

$17.6

Debt

$28.0

Stockholders' Equity

$49.7

Balance Sheet at Close (6/30/08)

Basic Shares Outstanding

16.5

Fully Diluted shares Outstanding

16.9

Cash & Equivalents

$25.2

Debt

$25.0

Stockholders' Equity

$61.7

Stock Price Analysis at 5/12/08

Absolute

Price

Average

Daily Price

VWAP

Average Daily

Trading Volume

(thousands)

1-Day Prior

$21.45

$21.14

$20.99

1,011.6

10-Days Prior

$19.87

$19.95

$20.35

386.8

20-Days Prior

$20.05

$19.79

$19.81

469.9

30-Days Prior

$22.03

$20.24

$20.13

426.9

Private and Confidential

$15.00

$20.00

$25.00

$30.00

$35.00

$40.00

$45.00

$50.00

$55.00

$60.00

$65.00

500

1,000

1,500

2,000

2,500

3,000

3,500

Price/Volume Chart: January 2007 –

Present

Source: Factset. Data as of 5/9/08.

3/15/07 –

Barry Minkow

publishes 500-page report

alleging UNITY fraud

2/6/07

–

UNITY

announces

record Q4:2006 results

3/17/07 –

UNITY files

defamation suit against

Barry Minkow

4/17/07 –

UNITY

announces

record

Q1:2007

results

7/16/07 –

UNITY

announces

record

Q2:2007

results

10/16/07 –

UNITY

announces

Q3:2007

results

2/5/08 –

UNITY announces

weak

Q4:2007

and

full

year

2007 results

1/11/08 –

SEC completes

informal inquiry

4/21/08 –

UNITY

announces weak Q1:2008

results

Private and Confidential

Price/Volume Chart: 6 Month

Source: Factset. Data as of 5/9/08.

$15.00

$20.00

$25.00

$30.00

$35.00

$40.00

$45.00

$50.00

$55.00

500

1,000

1,500

2,000

2,500

3,000

3,500

Private and Confidential

Price/Volume Chart: 3-Year

Source: Factset. Data as of 5/9/08.

$15.00

$20.00

$25.00

$30.00

$35.00

$40.00

$45.00

$50.00

$55.00

$60.00

$65.00

500

1,000

1,500

2,000

2,500

3,000

3,500

Private and Confidential

LTM Short Interest/Price Chart

Source: Factset, Nasdaq

short interest data as of 5/9/08.

$0.00

$10.00

$20.00

$30.00

$40.00

$50.00

$60.00

Short Interest (MM)

Stock Price

Private and Confidential

May-07

Jun-07

Jul-07

Aug-07

Sep-07

Oct-07

Nov-07

Dec-07

Jan-08

Feb-08

Mar-08

Apr-08

100

110

120

130

UNITY

NASDAQ Composite Index

Direct Seller & Supplement Comp Group

LTM Comparable Universe Indices vs

UNITY

(49.6%)

(11.0%)

(3.5%)

Source: Factset. Data based on LTM as of 5/9/08.

(1) The Direct Seller & Supplement Group is comprised of the companies listed

on page 21 & 22.

Private and Confidential

Jul-05

Oct-05

Jan-06

Apr-06

Jul-06

Oct-06

Jan-07

Apr-07

Jul-07

Oct-07

Jan-08

Apr-08

100

120

140

160

UNITY

NASDAQ Composite Index

Direct Seller & Supplement Comp Group

3-Year Comparable Universe Indices

(53.7%)

12.4%

26.2%

Source: Factset. Data based on LTM as of 5/9/08.

(1) The Direct Seller & Supplement Group is comprised of the companies

listed

on page 21 & 22.

Private and Confidential

Summary of Analyst Estimates

Source: Bloomberg consensus estimates.

($ in millions, except per share data)

Analyst Recommendations

Most Recent

Price Target

Date

Company

Rating

Price Target

Period

Changed

Price Target

FY08E

FY09E

FY08E

FY09E

FY08E

FY09E

Sidoti & Company

Buy

$39.00

12 Months

3/28/2008

$56.00

$428.3

$456.9

$1.99

$2.33

D.A. Davidson & Co.

Buy

$30.00

18 Months

3/28/2008

$49.00

$429.7

$459.7

$63.2

$70.8

$2.15

$2.50

Avondale Partners

Market Perform

$26.50

3/28/2008

$50.00

$427.1

$482.5

$72.2

$81.7

$2.06

$2.33

Wedbush Morgan

Buy

$24.00

12 Months

4/22/2008

$30.00

$426.8

$454.2

$63.1

$69.7

$2.14

$2.40

Goldman Sachs

Neutral

$23.00

12 Months

3/28/2008

$42.00

Jefferies

Hold

$22.00

3/28/2008

$52.00

$405.4

$409.7

$63.3

$68.1

$2.00

$2.20

Canaccord Adams

Hold

$21.00

3/28/2008

$55.00

$429.8

$468.3

$61.9

$69.3

$2.07

$2.27

Consensus

$26.50

$424.5

$455.2

$64.7

$71.9

$2.07

$2.34

Revenue

EPS

EBITDA

Section B –

UNITY Valuation Data

Private and Confidential

Private and Confidential

Premiums

Analysis

–

Comparable

Transactions

Source: Dealogic

as of 4/25/08.

Cash

merger

transactions

with

total

transaction

value

between

$200M

$800M and

a stock price above $5 per share prior to offer

Closing Price 5/12/08: $20.83

30 Day VWAP 5/12/08: $20.13

Premium Analysis

($ in millions except per share data)

Closing Price

1-Day

1-Week

1-Month

Premiums Paid Stripped Mean Percentages

12.2 %

14.8 %

17.7 %

Premium at Offer Price

Premium to Closing Price

24.8 %

21.2 %

33.0 %

20.9 %

Premium to VWAP

24.5 %

23.8 %

26.4 %

29.2 %

Tender Offer Price

$26.00

Private and Confidential

Source: Dealogic

as of 4/25/08.

Ann.

Transaction

Purchase

Price of Stock

Premium to Prior Stock Price

Date

Target/Issuer

Buyers/Investors

Fin Sponsor

Value

Price Per Share

1 Day

1 Week

1 Month

1 Day

1 Week

1 Month

01/30/08

NuCo2 Inc

Aurora Capital Group

$475.6

$30.00

$24.08

$24.98

$25.44

24.6%

20.1%

17.9%

01/15/08

Lifecore Biomedical Inc

Warburg Pincus LLC

Warburg Pincus

$234.6

$17.00

$12.84

$13.37

$13.57

32.4%

27.2%

25.3%

08/02/07

Midwest Air Group Inc (Bid No 2)

TPG Capital LP (Texas Pacific)

$402.6

$16.00

$13.93

$12.99

$15.25

14.9%

23.2%

4.9%

07/27/07

Deb Shops Inc

Lee Equity Partners LLC

$391.1

$27.25

$26.68

$29.03

$28.43

2.1%

(6.1%)

(4.2%)

06/18/07

Friendly Ice Cream Corp

Freeze Operations Holding Corp

Sun Capital Partners Group Inc

$329.7

$15.50

$14.33

$13.68

$14.65

8.2%

13.3%

5.8%

06/11/07

James River Group Inc

DE Shaw & Co LP

Trident Capital;

DE Shaw Private Equity

$540.3

$34.50

$35.18

$33.82

$34.36

(1.9%)

2.0%

0.4%

06/04/07

Accredited Home Lenders Holdings Co

Lone Star Fund V

Lone Star Funds

$296.8

$15.10

$13.76

$14.57

$11.84

9.7%

3.6%

27.5%

06/04/07

1-800 Contacts Inc

Fenway Partners Inc

$371.7

$24.25

$20.08

$19.21

$17.67

20.8%

26.2%

37.2%

04/26/07

Inter-Tel Inc

Mitel Networks Corp

Francisco Partners LP

$697.0

$25.60

$23.96

$24.04

$23.90

6.8%

6.5%

7.1%

04/24/07

Symbion Inc

Crestview Partners LLC

$625.4

$22.35

$19.03

$19.71

$19.55

17.4%

13.4%

14.3%

04/05/07

World Air Holdings Inc

Global Aero Logistics Inc

MatlinPatterson Global Opportunities

Partners LP

$315.0

$12.50

$10.80

$10.78

$10.45

15.7%

16.0%

19.6%

03/20/07

Eschelon Telecom Inc

Integra Telecom Inc

Boston Ventures LP;

Wind Point Partners;

Nautic Partners LLC;

Banc of America Equity Partners;

$707.3

$30.00

$25.59

$25.16

$23.45

17.2%

19.2%

27.9%

03/06/07

Topps Co Inc (Bid No 1)

Tornante Co LLC;

Madison Dearborn Partners LLC

$394.9

$9.75

$8.91

$9.03

$9.89

9.4%

8.0%

(1.4%)

03/05/07

SafeNet Inc

Vector Capital

$689.7

$28.75

$28.30

$27.76

$25.31

1.6%

3.6%

13.6%

01/10/07

International Aluminum Corp

GenStar Capital LLC

Genstar Capital LP

$226.8

$53.00

$49.99

$48.75

$46.86

6.0%

8.7%

13.1%

12/05/06

Direct General Corp

Fremont Partners;

Texas Pacific Group

TPG Capital LP (Texas Pacific);

Calera Capital

$563.3

$21.25

$16.51

$15.87

$14.97

28.7%

33.9%

42.0%

11/14/06

Valley National Gases Inc

Caxton-Iseman Capital Inc

$330.2

$27.00

$26.85

$27.95

0.0%

0.6%

(3.4%)

Premiums Analysis –

Comparable Transactions

Private and Confidential

Source: Dealogic

as of 4/25/08.

Ann.

Transaction

Purchase

Price of Stock

Premium to Prior Stock Price

Date

Target/Issuer

Buyers/Investors

Fin Sponsor

Value

Price Per Share

1 Day

1 Week

1 Month

1 Day

1 Week

1 Month

09/25/06

Educate Inc

Sterling Capital Partners LP;

Citigroup Private Equity

Apollo Advisors LP;

Sterling Capital Partners LP;

Citigroup Private Equity

$504.3

$8.00

$7.06

$6.60

$6.67

13.3%

21.2%

19.9%

09/22/06

Talk America Holdings Inc

Cavalier Telephone LLC

Banc of America Equity Partners

$247.8

$8.10

$6.57

$5.99

$5.80

23.3%

35.2%

39.7%

09/12/06

Metrologic Instruments Inc

Francisco Partners LP;

Elliott Associates LP

Francisco Partners LP

$427.0

$18.50

$16.36

$16.05

$13.80

13.1%

15.3%

34.1%

09/12/06

Peach Holdings, Inc

DLJ Merchant Banking Partners;

Orchard Acquisition Co

Greenhill Capital Partners LLC;

LLR Partners Inc;

CSFB Private Equity

$753.5

$7.20

$7.14

$7.01

$6.16

0.8%

2.7%

17.0%

08/18/06

Lone Star Steakhouse & Saloon Inc

Lone Star Funds

$655.7

$27.10

$23.55

$23.33

$24.01

15.1%

16.2%

12.9%

06/07/06

ACE Cash Express Inc

JLL Partners Inc

$437.5

$30.00

$26.32

$26.61

$27.14

14.0%

12.7%

10.5%

04/27/06

NetIQ Corp

AttachmateWRQ

Thoma Cressey Bravo;

Francisco Partners LP;

Golden Gate Capital Corp

$495.0

$12.20

$10.72

$11.28

$10.95

13.8%

8.2%

11.4%

04/21/06

Marsh Supermarkets Inc (Bid No 1)

Sun Capital Partners Group Inc

$325.0

$11.13

$11.16

$8.06

$8.00

(0.3%)

38.1%

39.1%

03/08/06

SourceCorp Inc

Apollo Management LP

Apollo Advisors LP

$458.0

$25.00

$25.83

$25.84

$25.56

(3.2%)

(3.3%)

(2.2%)

02/24/06

Packaging Dynamics Corp

Thilmany LLC

Kohlberg & Co LLC

$304.6

$14.00

$14.32

$13.43

$13.01

(2.2%)

4.2%

7.6%

02/06/06

Duratek Inc

EnergySolutions

Lindsay Goldberg

$512.8

$22.00

$17.58

$17.71

$16.07

25.1%

24.2%

36.9%

01/09/06

Water Pik Technologies Inc

Coast Acquisition Corp

Carlyle Group Inc

$380.0

$27.75

$21.62

$21.53

$21.25

28.4%

28.9%

30.6%

01/05/06

Datastream Systems Inc

Infor Global Solutions Inc

Golden Gate Capital Corp;

Summit Partners LP;

Parallax Capital Partners LLC

$205.1

$10.26

$8.79

$8.25

$8.00

16.7%

24.4%

28.3%

Mean:

12.4%

14.9%

17.8%

Median:

13.6%

14.3%

15.7%

Stripped Mean:

12.2%

14.8%

17.7%

Premiums Analysis –

Comparable Transactions

Private and Confidential

Direct Seller & Supplement Peer Group Trading Statistics

Source: Capital IQ, Factset, Bloomberg, SEC

filings , Management projections as of 5/12/08.

NA = Not applicable; NMF = Not Meaningful

LTM as of 12/31/07 except where noted.

AVP –

LTM as of 3/31/08.

BTH -

LTM as of 1/31/08.

HLF –

LTM as of 3/31/08.

NTY –

LTM as of 3/31/08.

NUS -

LTM as of 3/31/08.

NTRI -

LTM as of 3/31/08.

RELV -

LTM as of 3/31/08.

WNI –

LTM as of 2/29/08.

TUP -

LTM as of 3/29/08.

USNA -

LTM as of 3/31/08.

Blyth –Beat estimates, but underlying sales growth flat.

Medifast

–

FQ3 below estimates; FQ4 met guidance but negative report.

NBTY –

Slightly missed FQ1; wide miss FQ2.

Nutrisystem

–

Met estimates, but too early to call a turnaround.

Mannatech

–

Lower y/y

gross profit.

52 Week Range

% Decrease from

Market

Ent.

05/09/08

High

Low

52 Week High

Cap.

Value

CY08E

CY09E

LTM

CY08E

CY09E

LTM

CY08E

CY09E

Direct Seller & Supplement Group

Avon Products Inc.

$39.37

$42.51

$31.95

7.4%

$16,802

$18,152

18.2x

15.4x

1.8x

1.7x

1.6x

12.6x

10.8x

9.6x

Blyth, Inc.

$17.87

$30.22

$15.45

40.9%

$664

$629

12.6x

11.5x

0.5x

0.6x

0.5x

5.1x

4.9x

4.8x

Ediets.com Inc.

$3.70

$6.10

$2.85

39.3%

$93

NMF

3.1x

1.2x

NMF

37.0x

Herbalife Ltd.

$43.36

$51.09

$35.30

15.1%

$2,790

$2,933

13.0x

11.1x

1.3x

1.2x

1.1x

7.8x

7.5x

6.7x

Mannatech Inc.

$6.42

$16.19

$4.75

60.3%

$170

$123

0.3x

5.1x

Medifast Inc.

$4.86

$9.37

$3.57

48.1%

$67

$70

14.3x

11.4x

0.8x

0.7x

7.6x

7.2x

6.0x

Natural Alternatives International Inc.

$7.76

$9.20

$5.64

15.7%

$54

$53

0.6x

11.9x

NBTY Inc.

$29.18

$53.42

$20.85

45.4%

$1,950

$2,055

9.7x

9.1x

1.0x

0.9x

6.1x

5.9x

5.7x

Nu Skin Enterprises Inc.

$16.84

$19.99

$13.85

15.8%

$1,068

$1,181

14.0x

12.3x

1.0x

0.9x

8.8x

7.4x

6.7x

Nutraceutical International Corp.

$12.80

$16.99

$10.67

24.7%

$142

$166

1.0x

5.9x

NutriSystem Inc.

$19.84

$74.09

$12.55

73.2%

$627

$584

9.2x

8.7x

0.8x

0.7x

4.4x

4.8x

4.3x

Reliv International, Inc.

$5.79

$11.60

$5.50

50.1%

$92

$77

20.0x

18.7x

0.7x

11.2x

10.1x

10.0x

Schiff Nutrition International Inc.

$5.41

$7.69

$4.59

29.6%

$63

$29

0.2x

1.1x

Tupperware Brands Corporation

$38.84

$44.98

$23.60

13.7%

$2,395

$2,953

14.7x

13.2x

1.4x

1.3x

10.7x

9.7x

8.8x

Mean:

34.2%

$1,927

$2,078

14.0x

12.4x

1.0x

7.6x

10.0x

Median:

34.5%

$398

$375

14.0x

11.5x

0.9x

1.0x

0.9x

7.6x

7.4x

6.7x

Stripped Mean:

33.2%

$843

$910

13.8x

12.0x

0.9x

1.0x

0.9x

7.7x

7.5x

7.3x

Select Direct Seller & Supplement Group

Mean:

44.7%

$580

$577

9.2x

8.2x

0.6x

4.7x

4.6x

4.2x

Median:

48.1%

$627

$584

11.2x

10.3x

0.8x

0.7x

5.1x

5.4x

5.3x

Stripped Mean:

51.3%

$487

$445

11.2x

10.3x

0.7x

0.8x

0.7x

5.4x

5.3x

UNITY (Current Price)

$20.83

$51.50

$18.18

59.6%

$341

$352

9.1x

7.6x

0.8x

0.7x

5.0x

5.3x

4.4x

UNITY (@ Tender Offer Price)

$26.00

$51.50

$18.18

49.5%

$412

11.4x

9.4x

1.0x

0.9x

0.8x

6.1x

6.2x

5.2x

P/E Multiple

Ent. Val. / Revenue

Ent. Val. / EBITDA

Private and Confidential

Direct Seller & Supplement Peer Group Operating Statistics

Source: Capital IQ, Factset, Bloomberg, SEC

filings , Management projections as of 5/12/08.

NA = Not applicable; NMF = Not Meaningful

LTM as of 12/31/07 except where noted.

AVP –

LTM as of 3/31/08.

BTH -

LTM as of 1/31/08.

HLF –

LTM as of 3/31/08.

NTY –

LTM as of 3/31/08.

NUS -

LTM as of 3/31/08.

NTRI -

LTM as of 3/31/08.

RELV -

LTM as of 3/31/08.

WNI –

LTM as of 2/29/08.

TUP -

LTM as of 3/29/08.

USNA -

LTM as of 3/31/08.

Blyth –Beat estimates, but underlying sales growth flat.

Medifast

–

FQ3 below estimates; FQ4 met guidance but negative report.

NBTY –

Slightly missed FQ1; wide miss FQ2.

Nutrisystem

–

Met estimates, but too early to call a turnaround.

Mannatech

–

Lower y/y

gross profit.

Revenue

EBITDA

EPS

Rev. Growth

LTM Gross

EBITDA Gr

EBITDA

Debt to

LTM

CY08E

CY09E

LTM

CY08E

CY09E

CY08E

CY09E

06/07

08E/09E

Profit

Profit Margin

06/07

Margin

Equity

Direct Seller & Supplement Group

Avon Products Inc.

$10,255

$10,700

$11,417

$1,446

$1,678

$1,891

$2.16

$2.55

13.4%

6.7%

$6,390

62.3%

12.1%

14.1%

315.2%

Blyth, Inc.

$1,165

$1,139

$1,155

$123

$127

$132

$1.42

$1.55

(4.6%)

1.4%

$625

53.7%

19.7%

10.5%

53.1%

Ediets.com

Inc.

$30

$80

($4)

($6)

($0.36)

($0.02)

(39.1%)

0.0%

$23

75.7%

NMF

54.6%

Herbalife

Ltd.

$2,242

$2,378

$2,578

$374

$390

$441

$3.33

$3.90

13.8%

8.4%

$1,001

44.6%

15.7%

16.7%

183.1%

Mannatech

Inc.

$413

$24

0.6%

$164

39.7%

(50.6%)

5.9%

0.4%

Medifast

Inc.

$84

$90

$101

$10

$12

$0.34

$0.43

13.1%

12.3%

$62

74.4%

(4.3%)

10.9%

19.8%

Natural Alternatives International Inc.

$94

(12.3%)

$20

20.9%

(47.3%)

4.7%

12.2%

NBTY Inc.

$2,043

$2,082

$2,173

$337

$350

$359

$3.01

$3.20

4.6%

4.3%

$1,061

51.9%

24.3%

16.5%

19.4%

Nu Skin Enterprises Inc.

$1,182

$1,215

$1,284

$134

$160

$177

$1.20

$1.36

3.8%

5.6%

$969

82.0%

6.8%

11.3%

77.3%

Nutraceutical

International Corp.

$164

$28

8.2%

$89

54.3%

(1.4%)

17.2%

25.4%

NutriSystem

Inc.

$755

$719

$817

$133

$121

$135

$2.16

$2.28

37.3%

13.6%

$396

52.4%

24.5%

17.6%

0.0%

Reliv

International, Inc.

$104

$109

$113

$0.29

$0.31

(5.5%)

3.7%

$86

82.9%

(37.0%)

6.6%

0.0%

Schiff Nutrition International Inc.

$170

$25

(6.1%)

$72

42.7%

9.6%

14.7%

0.2%

Tupperware Brands Corporation

$2,068

$2,120

$2,280

$277

$304

$335

$2.65

$2.95

13.6%

7.5%

$1,339

64.7%

22.2%

13.4%

123.3%

Mean:

$1,483

$2,063

$2,200

$208

$314

$349

$1.62

$1.85

2.9%

6.4%

$878

57.3%

(0.4%)

12.3%

63.1%

Median:

$584

$1,177

$1,219

$75

$144

$156

$1.79

$1.91

4.2%

6.1%

$280

54.0%

9.6%

13.4%

22.6%

Stripped Mean:

$874

$1,232

$1,312

$123

$184

$200

$1.65

$1.83

3.6%

6.2%

$491

58.2%

1.9%

12.5%

47.4%

Mean:

$892

$1,008

$1,061

$125

$152

$159

$1.73

$1.86

10.2%

7.9%

$462

54.4%

2.7%

12.3%

18.6%

Median:

$755

$929

$986

$123

$124

$133

$1.79

$1.91

4.6%

8.3%

$396

52.4%

19.7%

10.9%

19.4%

Stripped Mean:

$778

$929

$986

$93

$124

$133

$1.79

$1.91

6.1%

8.3%

$395

52.7%

13.2%

12.7%

13.2%

UNITY

$424

$442

$496

$70

$66

$80

$2.29

$2.76

15.9%

12.2%

$335

79.1%

9.8%

16.6%

56.3%

Select

Direct

Seller

Supplement

Group