**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

**____________**

**FORM      10-Q**

**(Mark      One)**

| x                                                               | **QUARTERLY                REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE                ACT OF                1934**  |
|-----------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------|
|                                                            |
| **For                the quarterly period ended June 30, 2006** |
|                                                            |
| **OR**                                                          |
|                                                            |
| o                                                               | **TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE                ACT OF                1934** |

**For      the transition period from _________to_________**

**Commission      File Number**

**1-11768**

**RELIV’      INTERNATIONAL, INC.**

| Delaware                                                                                                                                                                                  | 371172197                                              |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------|
| (State                or other jurisdiction ofincorporation                or organization)                                                                                               | (I.R.S.                Employer Identification Number) |
|                                                                                                                                                                                      |                                                   |
|                                                                                                                                                                                      |                                                   |
| 136                Chesterfield Industrial Boulevard                                                                                                                                      |                                                   |
|                            Chesterfield,                Missouri            | 63005                                                  |
| (Address                of principal executive offices)                                                                                                                                   | (Zip                Code)                              |

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**INDEX**

| Item                No. 1                  | Financial                Statements                                                                                       | 1      |
|--------------------------------------------|---------------------------------------------------------------------------------------------------------------------------|--------|
| Item                No. 2                  | Management’s                Discussion and Analysis of Financial Condition and Results of                Operations | 1      |
| Item                No. 3                  | Quantitative                and Qualitative Disclosures Regarding Market Risk                                             | 7      |
| Item                No. 4                  | Controls                and Procedures                                                                                    | 7      |
|                                       |                                                                                                                      |   |
| PART                II - OTHER INFORMATION |                                                                                                                      |
|                                       |                                                                                                                      |   |
| Item                No. 1A                 | Risk                Factors                                                                                               | 8      |
| Item                No. 4                  | Submission                of Matters to a Vote of Security Holders                                                        | 9      |
| Item                No. 6                  | Exhibits                                                                                                                  | 10     |

----

**FORWARD-LOOKING      STATEMENTS**

**PART      I - FINANCIAL INFORMATION**

**Item      No. 1 - Financial Statements**

|   | 1. | Interim                Balance Sheet as of June 30, 2006 and Balance Sheet as of December                31,                2005. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Interim                Statements of Income for the three- and six-month periods ended June                30,                2006 and June 30, 2005. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Interim                Statements of Cash Flows for the six-month periods ended June 30,                2006 and                June 30, 2005. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------|

**Item      No. 2 - Management’s Discussion and Analysis of      Financial**
**Condition      and Results of Operations**

*The      following discussion and analysis of our financial condition and results of      operations should be read in conjunction with our financial statements and      related notes included elsewhere in this Quarterly Report on Form 10-Q. The      following discussion and analysis discusses the financial condition and results      of our operations on a consolidated basis, unless otherwise indicated.*

**Overview      **

----

**Components      of Net Sales and Expense **

----

**Results      of Operations **

|                                                 |   | **Three                months ended****June                30,** |   | **Six                months ended****June                30,** |   |
|------------------------------------------------------|--------|------------------------------------------------------------------|--------|----------------------------------------------------------------|--------|
|                                                 |   | **2006**                                                         |   | **2005**                                                       |   | **2006** |   | **2005** |   |
|                                                 |   |                                                             |   |                                                           |   |   |   |   |   |   |   |   |   |
| Net                sales                             |   |                                                             | 100.0  | %                                                              |   | 100.0 | % |   | 100.0 | % |   | 100.0 | % |
| Costs                and expenses:                   |   |                                                             |   |                                                           |   |  |   |   |  |   |   |  |   |
| Cost                of products sold                 |   |                                                             | 17.0   |                                                           |   | 16.5 |   |   | 16.6 |   |   | 16.8 |   |
| Distributor                royalties and commissions |   |                                                             | 40.1   |                                                           |   | 39.9 |   |   | 40.3 |   |   | 40.1 |   |
| Selling,                general and administrative   |   |                                                             | 34.0   |                                                           |   | 32.2 |   |   | 32.1 |   |   | 31.6 |   |
|                                                 |   |                                                             |        |                                                           |   |  |   |   |  |   |   |  |   |
| Income                from operations                |   |                                                             | 8.9    |                                                           |   | 11.4 |   |   | 11.0 |   |   | 11.5 |   |
| Interest                expense                      |   |                                                             | (0.0   | )                                                              |   | (0.4 | ) |   | (0.1 | ) |   | (0.4 | ) |
| Interest                and other income             |   |                                                             | 0.8    |                                                           |   | 0.4 |   |   | 0.7 |   |   | 0.4 |   |
|                                                 |   |                                                             |        |                                                           |   |  |   |   |  |   |   |  |   |
| Income                before income taxes            |   |                                                             | 9.7    |                                                           |   | 11.4 |   |   | 11.6 |   |   | 11.5 |   |
| Provision                for income taxes            |   |                                                             | 3.9    |                                                           |   | 4.5 |   |   | 4.7 |   |   | 4.5 |   |
|                                                 |   |                                                             |        |                                                           |   |  |   |   |  |   |   |  |   |
| Net                income                            |   |                                                             | 5.8    | %                                                              |   | 6.9 | % |   | 6.9 | % |   | 7.0 | % |

*Net      Sales. *

|                                    |   | **Three                  months ended June 30,** |                                          |                                   |   |
|-----------------------------------------|--------|--------------------------------------------------|-----------------------------------------------|----------------------------------------|--------|
|                                    |   | **2006**                                         |                                          | **2005**                               |   | **Change                  from prior year** |   |
|                                    |   | **Amount**                                       |                                          | **%                  of Net****Sales** |   | **Amount** |   | **%                  of Net****Sales** |   | **Amount** |   | **%** |   |
|                                    |   |                                             | **(dollars                    in thousands)** |                                   |   |  |   |   |  |   |
| United                  States          |   | $                                                | 25,061                                        |                                   |   | 90.0 | % | $ | 26,088 |   |   | 91.4 | % | $ | (1,027 | ) |   | (3.9 | )% |
| Australia/New                  Zealand  |   |                                             | 576                                           |                                   |   | 2.1 |   |   | 505 |   |   | 1.8 |   |   | 71 |   |   | 14.1 |   |
| Canada                                  |   |                                             | 412                                           |                                   |   | 1.5 |   |   | 456 |   |   | 1.6 |   |   | (44 | ) |   | (9.6 | ) |
| Mexico                                  |   |                                             | 314                                           |                                   |   | 1.1 |   |   | 293 |   |   | 1.0 |   |   | 21 |   |   | 7.2 |   |
| United                  Kingdom/Ireland |   |                                             | 319                                           |                                   |   | 1.1 |   |   | 235 |   |   | 0.8 |   |   | 84 |   |   | 35.7 |   |
| Philippines                             |   |                                             | 514                                           |                                   |   | 1.9 |   |   | 479 |   |   | 1.7 |   |   | 35 |   |   | 7.3 |   |
| Malaysia/Singapore                      |   |                                             | 457                                           |                                   |   | 1.6 |   |   | 490 |   |   | 1.7 |   |   | (33 | ) |   | (6.7 | ) |
| Germany                                 |   |                                             | 196                                           |                                   |   | 0.7 |   |   | — |   |   | — |   |   | 196 |   |   | — |   |
| Consolidated                  total     |   | $                                                | 27,849                                        |                                   |   | 100.0 | % | $ | 28,546 |   |   | 100.0 | % | $ | (697 | ) |   | (2.4 | )% |

----

|                                  |   | **Six                months ended June 30,** |   |                                      |   |                                           |   |
|---------------------------------------|--------|----------------------------------------------|--------|--------------------------------------|--------|-------------------------------------------|--------|
|                                  |   | **2006**                                     |   | **2005**                             |   | **Change                from prior year** |   |
|                                  |   | **Amount**                                   |   | **%                of Net****Sales** |   | **Amount**                                |   | **%                of Net****Sales** |   | **Amount** |   | **%** |   |
|                                  |   | **(dollars                in thousands)**    |   |                                      |   |                                           |   |
| United                States          |   | $                                            | 53,592 |                                 |   | 90.8                                      | %      | $ | 52,057 |   |   | 90.5 | % | $ | 1,535 |   |   | 2.9 | % |
| Australia/New                Zealand  |   |                                         | 1,155  |                                 |   | 2.0                                       |   |   | 1,081 |   |   | 1.9 |   |   | 74 |   |   | 6.8 |   |
| Canada                                |   |                                         | 820    |                                 |   | 1.4                                       |   |   | 907 |   |   | 1.6 |   |   | (87 | ) |   | (9.6 | ) |
| Mexico                                |   |                                         | 643    |                                 |   | 1.1                                       |   |   | 835 |   |   | 1.5 |   |   | (192 | ) |   | (23.0 | ) |
| United                Kingdom/Ireland |   |                                         | 592    |                                 |   | 1.0                                       |   |   | 402 |   |   | 0.7 |   |   | 190 |   |   | 47.3 |   |
| Philippines                           |   |                                         | 1,007  |                                 |   | 1.7                                       |   |   | 1,280 |   |   | 2.2 |   |   | (273 | ) |   | (21.3 | ) |
| Malaysia/Singapore                    |   |                                         | 915    |                                 |   | 1.5                                       |   |   | 963 |   |   | 1.7 |   |   | (48 | ) |   | (5.0 | ) |
| Germany                               |   |                                         | 320    |                                 |   | 0.5                                       |   |   | — |   |   | — |   |   | 320 |   |   | — |   |
| Consolidated                total     |   | $                                            | 59,044 |                                 |   | 100.0                                     | %      | $ | 57,525 |   |   | 100.0 | % | $ | 1,519 |   |   | 2.6 | % |

|                                  |   |   | **June                30, 2006**       |   |   | **June                30, 2005**                     |   |   | **%                Change**            |   |
|---------------------------------------|--------|--------|----------------------------------------|--------|--------|------------------------------------------------------|--------|--------|----------------------------------------|--------|
|                                  |   |   | **Active                Distributors** |   |   | **Master****Affiliates                and****Above** |   |   | **Active                Distributors** |   |   | **Master****Affiliates                and****Above** |   |   | **Active                Distributors** |   |   | **Master****Affiliates                and****Above** |   |
|                                  |   |   |                                   |   |   |                                                 |   |   |                                   |   |   |   |   |   |   |   |   |   |   |
| United                States          |   |   | 52,270                                 |   |   | 14,160                                               |   |   | 50,240                                 |   |   | 13,090 |   |   | 4.0 | % |   | 8.2 | % |
| Australia/New                Zealand  |   |   | 2,380                                  |   |   | 210                                                  |   |   | 2,790                                  |   |   | 240 |   |   | (14.7 | ) |   | (12.5 | ) |
| Canada                                |   |   | 1,150                                  |   |   | 160                                                  |   |   | 1,370                                  |   |   | 190 |   |   | (16.1 | ) |   | (15.8 | ) |
| Mexico                                |   |   | 1,180                                  |   |   | 200                                                  |   |   | 5,880                                  |   |   | 420 |   |   | (79.9 | ) |   | (52.4 | ) |
| United                Kingdom/Ireland |   |   | 870                                    |   |   | 140                                                  |   |   | 530                                    |   |   | 60 |   |   | 64.2 |   |   | 133.3 |   |
| Philippines                           |   |   | 3,320                                  |   |   | 300                                                  |   |   | 5,640                                  |   |   | 500 |   |   | (41.1 | ) |   | (40.0 | ) |
| Malaysia/Singapore                    |   |   | 3,020                                  |   |   | 400                                                  |   |   | 3,780                                  |   |   | 680 |   |   | (20.1 | ) |   | (41.2 | ) |
| Germany                               |   |   | 260                                    |   |   | 90                                                   |   |   | —                                |   |   | — |   |   | — |   |   | — |   |
| Consolidated                total     |   |   | 64,450                                 |   |   | 15,660                                               |   |   | 70,230                                 |   |   | 15,180 |   |   | (8.2 | )% |   | 3.2 | % |

*Success      from Home*

----

*Cost      of Products Sold. *

*Distributor      Royalties and Commissions. *

*Selling,      General and Administrative Expenses. *

*Interest      Income/Expense. *

----

*Income      Taxes. *

*Net      Income. *

**Financial      Condition, Liquidity and Capital Resources **

----

**Critical      Accounting Policies**

**Item      No. 3 - Quantitative and Qualitative Disclosures Regarding Market      Risk**

**Foreign      Currency Risk**

**Item      No. 4 - Controls and Procedures **

----

**PART      II - OTHER INFORMATION**

**Item      No. 1A - Risk Factors**

***We      are affected by extensive laws, governmental regulations, administrative      determinations, court decisions and similar constraints, both domestically      and      abroad, and our or our distributors’ failure to comply with these restraints      could lead to the imposition of significant penalties or claims, which could      harm our financial condition and operating results.***

----

**Item      No. 4 - Submission of Matters to a Vote of Security      Holders**

|   | 1. | Election                of seven directors; and |
|--------|----|-------------------------------------------------|

|   | 2. | Ratification                of the Board’s selection of Ernst & Young LLP as our independent                certified public accountants. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| 1. | For                the election of directors: |
|----|-----------------------------------------------|

| **Name**                            | **Total                Votes For** | **Total                Votes****Against                or Withheld** |
|-------------------------------------|------------------------------------|----------------------------------------------------------------------|
|                                |                               |                                                                 |
| Robert                L. Montgomery | 13,611,034                         | 492,957                                                              |
|                                |                               |                                                                 |
| Carl                W. Hastings     | 13,617,753                         | 486,238                                                              |
|                                |                               |                                                                 |
| Donald                L. McCain     | 13,463,041                         | 640,950                                                              |
|                                |                               |                                                                 |
| Stephen                M. Merrick   | 13,531,410                         | 572,582                                                              |
|                                |                               |                                                                 |
| John                B. Akin         | 13,847,621                         | 256,371                                                              |
|                                |                               |                                                                 |
| Denis                St. John       | 13,991,487                         | 112,504                                                              |
|                                |                               |                                                                 |
| Robert                M. Henry      | 14,032,319                         |                   71,672                                   |

| 2. | Ratification                of the Board of Directors selection of Ernst & Young LLP as our                certified public accountants. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------|

|                               |                                   | **Total                Broker Non-Votes**  |
|------------------------------------|----------------------------------------|--------------------------------------------|
| **Total                Votes For** | **Total                Votes Against** | **and                Total Votes Abstain** |
|                               |                                   |                                       |
| 14,067,771                         | 23,729                                 | 12,491                                     |

----

**Item      No. 6 - Exhibits**

| Exhibit |                                                                                                                                                                                                                                                               |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Number  | Document                                                                                                                                                                                                                                                           |
|    |                                                                                                                                                                                                                                                               |
| 10.1    | Letter                Agreement with Southwest Bank of St. Louis dated June 28, 2006 (filed                herewith).                                                                                                                                              |
|    |                                                                                                                                                                                                                                                               |
| 10.2    | Promissory                Note with Southwest Bank of St. Louis dated June 28, 2006 (filed                herewith).                                                                                                                                               |
|    |                                                                                                                                                                                                                                                               |
| 31.1    | Certification                of Chief Executive Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a)                of the Securities Exchange Act, as amended (filed                herewith).                                                                   |
|    |                                                                                                                                                                                                                                                               |
| 31.2    | Certification                of Chief Financial Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a)                of the Securities Exchange Act, as amended (filed                herewith).                                                                   |
|    |                                                                                                                                                                                                                                                               |
| 32      | Certification                of Chief Executive Officer and Chief Financial Officer pursuant to                18                U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley                Act                of 2002 (filed herewith). |

----

**SIGNATURES**

**RELIV’      INTERNATIONAL, INC.**

| By:                                   | /s/                  Robert L. Montgomery                                                                                                          |
|---------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|
|                                  | Robert                  L. Montgomery, Chairman of the Board of Directors, President and                  Chief                  Executive Officer |
|                                  |                                                                                                                                               |
| Date:                  August 9, 2006 |
|                                  |                                                                                                                                               |
|                                  |                                                                                                                                               |
| By:                                   | /s/                  Steven D. Albright                                                                                                            |
|                                  | Steven                  D. Albright, Chief Financial Officer (and accounting                  officer)                                             |
|                                  |                                                                                                                                               |
| Date:                  August 9, 2006 |

----

| Reliv                International, Inc. and Subsidiaries                                                          |   |                   |       |                       |   |
|--------------------------------------------------------------------------------------------------------------------|--------|------------------------|------------|----------------------------|--------|
|                                                                                                               |   |                   |       |                       |   |
| Consolidated                Balance Sheets                                                                         |   |                   |       |                       |   |
|                                                                                                               |   | June                30 |       | December                31 |   |
|                                                                                                               |   | 2006                   |       | 2005                       |   |
|                                                                                                               |   | (unaudited)            |       |                       |   |
| Assets                                                                                                             |   |                   |       |                       |   |
|                                                                                                               |   |                   |       |                       |   |
| Current                assets:                                                                                     |   |                   |       |                       |   |
| Cash                and cash equivalents                                                                           |   | $                      | 12,370,206 |                       | $      | 5,653,594 |   |
| Short-term                investments                                                                              |   |                   | 5,000,000  |                       |   | - |   |
| Accounts                and notes receivable, less allowances of $7,200 in 2006 and $39,700 in                2005 |   |                   | 681,343    |                       |   | 775,623 |   |
| Accounts                due from employees and distributors                                                        |   |                   | 215,025    |                       |   | 152,760 |   |
| Inventories                                                                                                        |   |                   |       |                       |   |   |   |
| Finished                goods                                                                                      |   |                   | 2,881,756  |                       |   | 3,569,449 |   |
| Raw                materials                                                                                       |   |                   | 1,129,894  |                       |   | 1,441,107 |   |
| Sales                aids and promotional materials                                                                |   |                   | 727,756    |                       |   | 573,900 |   |
| Total                inventories                                                                                   |   |                   | 4,739,406  |                       |   | 5,584,456 |   |
|                                                                                                               |   |                   |       |                       |   |   |   |
| Refundable                income taxes                                                                             |   |                   | 847,542    |                       |   | - |   |
| Prepaid                expenses and other current assets                                                           |   |                   | 1,988,917  |                       |   | 1,240,138 |   |
| Deferred                income taxes                                                                               |   |                   | 414,430    |                       |   | 452,430 |   |
| Total                current assets                                                                                |   |                   | 26,256,869 |                       |   | 13,859,001 |   |
|                                                                                                               |   |                   |       |                       |   |   |   |
| Other                assets                                                                                        |   |                   | 2,858,919  |                       |   | 1,626,330 |   |
| Accounts                due from employees and distributors                                                        |   |                   | 280,418    |                       |   | 355,651 |   |
|                                                                                                               |   |                   |       |                       |   |   |   |
| Property,                plant and equipment:                                                                      |   |                   |       |                       |   |   |   |
| Land                                                                                                               |   |                   | 829,222    |                       |   | 829,222 |   |
| Building                                                                                                           |   |                   | 9,593,817  |                       |   | 9,553,311 |   |
| Machinery                & equipment                                                                           |   |                   | 4,439,059  |                       |   | 4,736,274 |   |
| Office                equipment                                                                                    |   |                   | 1,486,455  |                       |   | 1,400,544 |   |
| Computer                equipment & software                                                                   |   |                   | 2,439,214  |                       |   | 2,536,415 |   |
|                                                                                                               |   |                   | 18,787,767 |                       |   | 19,055,766 |   |
| Less:                Accumulated depreciation                                                                      |   |                   | 8,936,368  |                       |   | 8,915,325 |   |
| Net                property, plant and equipment                                                                   |   |                   | 9,851,399  |                       |   | 10,140,441 |   |
|                                                                                                               |   |                   |       |                       |   |   |   |
| Total                assets                                                                                        |   | $                      | 39,247,605 |                       | $      | 25,981,423 |   |

----

| Reliv                International, Inc. and Subsidiaries                                                                                                                                                                                                                          |   |                   |       |                       |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------|------------|----------------------------|--------|
|                                                                                                                                                                                                                                                                               |   |                   |       |                       |   |
| Consolidated                Balance Sheets                                                                                                                                                                                                                                         |   |                   |       |                       |   |
|                                                                                                                                                                                                                                                                               |   | June                30 |       | December                31 |   |
|                                                                                                                                                                                                                                                                               |   | 2006                   |       | 2005                       |   |
|                                                                                                                                                                                                                                                                               |   | (unaudited)            |       |                       |   |
| Liabilities                and stockholders' equity                                                                                                                                                                                                                                |   |                   |       |                       |   |
|                                                                                                                                                                                                                                                                               |   |                   |       |                       |   |
| Current                liabilities:                                                                                                                                                                                                                                                |   |                   |       |                       |   |
| Accounts                payable and accrued expenses:                                                                                                                                                                                                                              |   |                   |       |                       |   |
| Trade                accounts payable and other accrued expenses                                                                                                                                                                                                                   |   | $                      | 4,863,502  |                       | $      | 3,165,871 |   |
| Distributors                commissions payable                                                                                                                                                                                                                                    |   |                   | 4,017,803  |                       |   | 3,578,405 |   |
| Sales                taxes payable                                                                                                                                                                                                                                                 |   |                   | 500,400    |                       |   | 518,870 |   |
| Interest                payable                                                                                                                                                                                                                                                    |   |                   | -          |                       |   | 31,000 |   |
| Payroll                and payroll taxes payable                                                                                                                                                                                                                                   |   |                   | 859,701    |                       |   | 864,624 |   |
| Total                accounts payable and accrued expenses                                                                                                                                                                                                                         |   |                   | 10,241,406 |                       |   | 8,158,770 |   |
|                                                                                                                                                                                                                                                                               |   |                   |       |                       |   |   |   |
| Income                taxes payable                                                                                                                                                                                                                                                |   |                   | -          |                       |   | 820,246 |   |
| Current                maturities of long-term debt                                                                                                                                                                                                                                |   |                   | 16,261     |                       |   | 916,244 |   |
| Total                current liabilities                                                                                                                                                                                                                                           |   |                   | 10,257,667 |                       |   | 9,895,260 |   |
|                                                                                                                                                                                                                                                                               |   |                   |       |                       |   |   |   |
| Noncurrent                liabilities:                                                                                                                                                                                                                                             |   |                   |       |                       |   |   |   |
| Long-term                debt, less current maturities                                                                                                                                                                                                                             |   |                   | 2,808      |                       |   | 2,211,065 |   |
| Deferred                income taxes                                                                                                                                                                                                                                               |   |                   | 40,000     |                       |   | 89,000 |   |
| Other                non-current liabilities                                                                                                                                                                                                                                       |   |                   | 1,182,058  |                       |   | 1,221,270 |   |
| Total                noncurrent liabilities                                                                                                                                                                                                                                        |   |                   | 1,224,866  |                       |   | 3,521,335 |   |
|                                                                                                                                                                                                                                                                               |   |                   |       |                       |   |   |   |
| Stockholders'                equity:                                                                                                                                                                                                                                               |   |                   |       |                       |   |   |   |
| Preferred                stock, par value $.001 per share; 3,000,000 shares                authorized; -0- shares issued and outstanding in                2006 and 2005                                                                                                           |   |                   | -          |                       |   | - |   |
| Common                stock, par value $.001 per share; 30,000,000 authorized;                16,889,559 shares issued and 16,839,261shares                outstanding as of 6/30/2006; 15,613,644 shares issued                and 15,563,562 shares outstanding as of 12/31/2005 |   |                   | 16,890     |                       |   | 15,614 |   |
| Additional                paid-in capital                                                                                                                                                                                                                                          |   |                   | 35,013,848 |                       |   | 22,972,463 |   |
| Accumulated                deficit                                                                                                                                                                                                                                                 |   |                   | (6,022,643 | )                          |   | (9,252,413 | ) |
| Accumulated                other comprehensive loss:                                                                                                                                                                                                                               |   |                   |       |                       |   |   |   |
| Foreign                currency translation adjustment                                                                                                                                                                                                                             |   |                   | (741,533   | )                          |   | (669,346 | ) |
| Treasury                stock                                                                                                                                                                                                                                                      |   |                   | (501,490   | )                          |   | (501,490 | ) |
|                                                                                                                                                                                                                                                                               |   |                   |       |                       |   |   |   |
| Total                stockholders' equity                                                                                                                                                                                                                                          |   |                   | 27,765,072 |                       |   | 12,564,828 |   |
|                                                                                                                                                                                                                                                                               |   |                   |       |                       |   |   |   |
| Total                liabilities and stockholders' equity                                                                                                                                                                                                                          |   | $                      | 39,247,605 |                       | $      | 25,981,423 |   |

| See                notes to financial statements. |   |   |   |   |   |   |   |
|---------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|

----

| Reliv                International, Inc. and Subsidiaries |   |                                      |       |                                    |   |       |   |   |       |
|-----------------------------------------------------------|--------|-------------------------------------------|------------|-----------------------------------------|--------|------------|--------|--------|------------|
|                                                      |   |                                      |       |                                    |   |       |   |   |       |
| Consolidated                Statements of Income          |   |                                      |       |                                    |   |       |   |   |       |
| (unaudited)                                               |   |                                      |       |                                    |   |       |   |   |       |
|                                                      |   | Three                months ended June 30 |       | Six                months ended June 30 |   |
|                                                      |   | 2006                                      |       | 2005                                    |   | 2006       |   | 2005   |       |
|                                                      |   |                                      |       |                                    |   |       |   |   |       |
| Product                sales                              |   | $                                         | 24,990,986 |                                    | $      | 25,644,506 |   | $      | 53,032,320 |   | $ | 51,758,999 |   |
| Handling                & freight income              |   |                                      | 2,858,082  |                                    |   | 2,901,580  |   |   | 6,012,100  |   |   | 5,766,183 |   |
|                                                      |   |                                      |       |                                    |   |       |   |   |       |   |   |   |   |
| Net                sales                                  |   |                                      | 27,849,068 |                                    |   | 28,546,086 |   |   | 59,044,420 |   |   | 57,525,182 |   |
|                                                      |   |                                      |       |                                    |   |       |   |   |       |   |   |   |   |
| Costs                and expenses:                        |   |                                      |       |                                    |   |       |   |   |       |   |   |   |   |
| Cost                of products sold                      |   |                                      | 4,722,823  |                                    |   | 4,711,472  |   |   | 9,805,004  |   |   | 9,654,776 |   |
| Distributor                royalties and commissions      |   |                                      | 11,156,285 |                                    |   | 11,379,011 |   |   | 23,783,317 |   |   | 23,090,727 |   |
| Selling,                general and administrative        |   |                                      | 9,484,876  |                                    |   | 9,190,021  |   |   | 18,951,617 |   |   | 18,153,307 |   |
|                                                      |   |                                      |       |                                    |   |       |   |   |       |   |   |   |   |
| Total                costs and expenses                   |   |                                      | 25,363,984 |                                    |   | 25,280,504 |   |   | 52,539,938 |   |   | 50,898,810 |   |
|                                                      |   |                                      |       |                                    |   |       |   |   |       |   |   |   |   |
| Income                from operations                     |   |                                      | 2,485,084  |                                    |   | 3,265,582  |   |   | 6,504,482  |   |   | 6,626,372 |   |
|                                                      |   |                                      |       |                                    |   |       |   |   |       |   |   |   |   |
| Other                income (expense):                    |   |                                      |       |                                    |   |       |   |   |       |   |   |   |   |
| Interest                income                            |   |                                      | 197,446    |                                    |   | 79,513     |   |   | 282,122    |   |   | 149,536 |   |
| Interest                expense                           |   |                                      | (11,026    | )                                       |   | (117,177   | )      |   | (45,467    | ) |   | (202,667 | ) |
| Other                income                               |   |                                      | 37,883     |                                    |   | 45,856     |   |   | 98,519     |   |   | 48,922 |   |
|                                                      |   |                                      |       |                                    |   |       |   |   |       |   |   |   |   |
| Income                before income taxes                 |   |                                      | 2,709,387  |                                    |   | 3,273,774  |   |   | 6,839,656  |   |   | 6,622,163 |   |
| Provision                for income taxes                 |   |                                      | 1,089,000  |                                    |   | 1,295,000  |   |   | 2,769,000  |   |   | 2,580,000 |   |
|                                                      |   |                                      |       |                                    |   |       |   |   |       |   |   |   |   |
| Net                income                                 |   | $                                         | 1,620,387  |                                    | $      | 1,978,774  |   | $      | 4,070,656  |   | $ | 4,042,163 |   |
|                                                      |   |                                      |       |                                    |   |       |   |   |       |   |   |   |   |
| Earnings                per common share - Basic          |   | $                                         | 0.10       |                                    | $      | 0.12       |   | $      | 0.25       |   | $ | 0.25 |   |
| Weighted                average shares                    |   |                                      | 16,667,000 |                                    |   | 16,096,000 |   |   | 16,121,000 |   |   | 16,216,000 |   |
|                                                      |   |                                      |       |                                    |   |       |   |   |       |   |   |   |   |
| Earnings                per common share - Diluted        |   | $                                         | 0.09       |                                    | $      | 0.12       |   | $      | 0.25       |   | $ | 0.24 |   |
| Weighted                average shares                    |   |                                      | 17,106,000 |                                    |   | 16,622,000 |   |   | 16,554,000 |   |   | 16,825,000 |   |
|                                                      |   |                                      |       |                                    |   |       |   |   |       |   |   |   |   |
| Cash                dividends declared per common share   |   | $                                         | 0.050      |                                    | $      | 0.035      |   | $      | 0.050      |   | $ | 0.035 |   |

| See                notes to financial statements. |   |   |   |   |   |   |   |   |   |   |   |   |   |
|---------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|

----

| Reliv                International, Inc. and Subsidiaries                                                       |   |                                    |       |   |   |
|-----------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|------------|--------|--------|
|                                                                                                            |   |                                    |       |   |   |
| Consolidated                Statements of Cash Flows                                                            |   |                                    |       |   |   |
| (unaudited)                                                                                                     |   |                                    |       |   |   |
|                                                                                                            |   | Six                months ended June 30 |       |
|                                                                                                            |   | 2006                                    |       | 2005   |   |
|                                                                                                            |   |                                    |       |   |   |
| Operating                activities:                                                                            |   |                                    |       |   |   |
| Net                income                                                                                       |   | $                                       | 4,070,656  |   | $      | 4,042,163 |   |
| Adjustments                to reconcile net income to net                cash provided by operating activities: |   |                                    |       |   |   |   |   |
| Depreciation                and amortization                                                                    |   |                                    | 634,351    |   |   | 662,159 |   |
| Stock-based                compensation                                                                         |   |                                    | 58,120     |   |   | 33,374 |   |
| Tax                benefit from exercise of options                                                             |   |                                    | -          |   |   | 1,185,000 |   |
| Deferred                income taxes                                                                            |   |                                    | (11,000    | )      |   | (91,000 | ) |
| Foreign                currency transaction (gain)/loss                                                         |   |                                    | (116,772   | )      |   | 148,115 |   |
| (Increase)                decrease in accounts and notes receivable                                             |   |                                    | 101,596    |   |   | 33,748 |   |
| (Increase)                decrease in inventories                                                               |   |                                    | 870,400    |   |   | (672,345 | ) |
| (Increase)                decrease in refundable income taxes                                                   |   |                                    | (847,542   | )      |   | 1,261,764 |   |
| (Increase)                decrease in prepaid expenses and                other current assets                  |   |                                    | (743,538   | )      |   | (686,844 | ) |
| (Increase)                decrease in other assets                                                              |   |                                    | (250,866   | )      |   | (183,847 | ) |
| Increase                (decrease) in accounts payable and accrued expenses                                     |   |                                    | 2,026,716  |   |   | 3,055,235 |   |
| Increase                (decrease) in income taxes payable                                                      |   |                                    | (820,252   | )      |   | 1,337,393 |   |
|                                                                                                            |   |                                    |       |   |   |   |   |
| Net                cash provided by operating activities                                                        |   |                                    | 4,971,869  |   |   | 10,124,915 |   |
|                                                                                                            |   |                                    |       |   |   |   |   |
| Investing                activities:                                                                            |   |                                    |       |   |   |   |   |
| Proceeds                from the sale of property, plant and equipment                                          |   |                                    | 6,295      |   |   | - |   |
| Purchase                of property, plant and equipment                                                        |   |                                    | (322,923   | )      |   | (1,203,294 | ) |
| Purchase                of investments                                                                          |   |                                    | (9,000,000 | )      |   | - |   |
| Proceeds                from sales of investments                                                               |   |                                    | 3,000,000  |   |   | - |   |
|                                                                                                            |   |                                    |       |   |   |   |   |
| Net                cash used in investing activities                                                            |   |                                    | (6,316,628 | )      |   | (1,203,294 | ) |
|                                                                                                            |   |                                    |       |   |   |   |   |
| Financing                activities:                                                                            |   |                                    |       |   |   |   |   |
| Principal                payments on long-term borrowings                                                       |   |                                    | (3,108,261 | )      |   | (3,641,559 | ) |
| Net                proceeds from issuance of common stock                                                       |   |                                    | 11,918,792 |   |   | - |   |
| Common                stock dividends paid                                                                      |   |                                    | (840,887   | )      |   | (565,158 | ) |
| Proceeds                from options and warrants exercised                                                     |   |                                    | 65,749     |   |   | 24,183 |   |
| Purchase                of stock for treasury                                                                   |   |                                    | -          |   |   | (8,951,805 | ) |
|                                                                                                            |   |                                    |       |   |   |   |   |
| Net                cash used in financing activities                                                            |   |                                    | 8,035,393  |   |   | (13,134,339 | ) |
|                                                                                                            |   |                                    |       |   |   |   |   |
| Effect                of exchange rate changes on cash and cash equivalents                                     |   |                                    | 25,978     |   |   | (101,973 | ) |
|                                                                                                            |   |                                    |       |   |   |   |   |
| Increase                in cash and cash equivalents                                                            |   |                                    | 6,716,612  |   |   | (4,314,691 | ) |
|                                                                                                            |   |                                    |       |   |   |   |   |
| Cash                and cash equivalents at beginning of period                                                 |   |                                    | 5,653,594  |   |   | 10,151,503 |   |
|                                                                                                            |   |                                    |       |   |   |   |   |
| Cash                and cash equivalents at end of period                                                       |   | $                                       | 12,370,206 |   | $      | 5,836,812 |   |

| See                notes to financial statements |   |   |   |   |   |   |   |
|--------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|

----

| **Note                    1--** | **Accounting                    Policies** |
|---------------------------------|--------------------------------------------|

*Basis          of Presentation*

*Cash          Equivalents*

*Short-Term          Investments*

*Inventory          Costs*

| **Note                    2--** | **Recent                    Accounting Standards Pending                    Adoption** |
|---------------------------------|----------------------------------------------------------------------------------------|

----

| **Note                    3--** | **Reclassifications** |
|---------------------------------|-----------------------|

| **Note                    4--** | **Basic                    and Diluted Earnings per                    Share** |
|---------------------------------|--------------------------------------------------------------------------------|

|                                                                                                               |   | Three                    months ended June 30 |       | Six                    months ended June 30 |   |
|--------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------|------------|---------------------------------------------|--------|
|                                                                                                               |   | 2006                                          |       | 2005                                        |   | 2006 |   | 2005 |   |
| Numerator:                                                                                                         |   |                                          |       |                                        |   |   |   |   |   |
| Net                    income                                                                                      |   | $                                             | 1,620,387  |                                        | $      | 1,978,774 |   | $ | 4,070,656 |   | $ | 4,042,163 |   |
|                                                                                                               |   |                                          |       |                                        |   |   |   |   |   |   |   |   |   |
| Denominator:                                                                                                       |   |                                          |       |                                        |   |   |   |   |   |   |   |   |   |
| Denominator                    for basic earnings per share--weighted                    average shares            |   |                                          | 16,667,000 |                                        |   | 16,096,000 |   |   | 16,121,000 |   |   | 16,216,000 |   |
| Dilutive                    effect of employee stock optionsand                    other warrants                  |   |                                          | 439,000    |                                        |   | 526,000 |   |   | 433,000 |   |   | 609,000 |   |
|                                                                                                               |   |                                          |       |                                        |   |   |   |   |   |   |   |   |   |
| Denominator                    for diluted earnings per share--adjusted                    weighted average shares |   |                                          | 17,106,000 |                                        |   | 16,622,000 |   |   | 16,554,000 |   |   | 16,825,000 |   |
|                                                                                                               |   |                                          |       |                                        |   |   |   |   |   |   |   |   |   |
| Basic                    earnings per share                                                                        |   | $                                             | 0.10       |                                        | $      | 0.12 |   | $ | 0.25 |   | $ | 0.25 |   |
| Diluted                    earnings per share                                                                      |   | $                                             | 0.09       |                                        | $      | 0.12 |   | $ | 0.25 |   | $ | 0.24 |   |

----

| **Note                    5--** | **Comprehensive                    Income** |
|---------------------------------|---------------------------------------------|

| **Note                    6--** | **Stock-Based                      Compensation** |
|---------------------------------|---------------------------------------------------|

*Stock          Options*

----

|                                                 |   | Options | Weighted                    Avg.Exercise                    Price |   | AggregateIntrinsic                    Value | Weighted                    Avg.Remaining                    Life |
|------------------------------------------------------|--------|---------|-------------------------------------------------------------------|--------|---------------------------------------------|-------------------------------------------------------------------|
| Outstanding                    beginning of the year |   | 813,074 |                                                              | $5.57  |                                        |                                                              |   |
| Granted                                              |   | --      |                                                              | --     |                                        |                                                              |   |
| Exercised                                            |   | (73,798 | )                                                            | 0.71   |                                        |                                                              |   |
| Forfeited                                            |   | (296    | )                                                                 | 0.71   |                                        |                                                              |   |
| Outstanding                    at June 30, 2006      |   | 738,980 |                                                              | $6.05  |                                        | $2,828,000                                                        | 6.29 |
|                                                 |   |    |                                                              |   |                                        |                                                              |   |
| Exercisable                    at June 30, 2006      |   | 610,260 |                                                              | $7.17  |                                        | $1,656,000                                                        | 7.61 |

|                                        | As                    of June 30, 2006 |
|---------------------------------------------|----------------------------------------|
|                                        | Options                    Outstanding |   | Options                    Exercisable |
| Range                    of Exercise Prices | Number                    Outstanding  | Weighted                    Avg.Remaining                    Life | Weighted                    Avg. Exercise                    Price |   | Number                    Exercisable | Weighted                    Avg. Exercise                    Price |
| $0.71                    - $0.78            | 195,980                                | 0.04 | $0.75 |   | 67,260 | $0.71 |
| $7.92                    - $8.68            | 543,000                                | 8.55 | $7.97 |   | 543,000 | $7.97 |
| $0.71                    - $8.68            | 738,980                                |   |   |   | 610,260 |   |

|                                                                                                                                                                                                 |   | Three                    MonthsEndedJune                    30,2005 |      | Six                    MonthsEndedJune                    30,2005 |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------|-----------|-------------------------------------------------------------------|--------|
|                                                                                                                                                                                                 |   |                                                                |      |                                                              |   |
| Net                    income, as reported                                                                                                                                                           |   | $                                                                   | 1,978,774 |                                                              | $      | 4,042,163 |   |
|                                                                                                                                                                                                 |   |                                                                |      |                                                              |   |   |   |
| Deduct:                    Total stock-based employee compensation expense                    determined under fair value based method for                    all awards, net of related tax effects |   |                                                                | 636,095   |                                                              |   | 1,490,595 |   |
| Pro                    forma net income available to common                    shareholders                                                                                                          |   | $                                                                   | 1,342,679 |                                                              | $      | 2,551,568 |   |
|                                                                                                                                                                                                 |   |                                                                |      |                                                              |   |   |   |
| Earnings                    per share:                                                                                                                                                               |   |                                                                |      |                                                              |   |   |   |
| Basic--as                    reported                                                                                                                                                                |   | $                                                                   | 0.12      |                                                              | $      | 0.25 |   |
| Basic--pro                    forma                                                                                                                                                                  |   | $                                                                   | 0.08      |                                                              | $      | 0.16 |   |
|                                                                                                                                                                                                 |   |                                                                |      |                                                              |   |   |   |
| Diluted--as                    reported                                                                                                                                                              |   | $                                                                   | 0.12      |                                                              | $      | 0.24 |   |
| Diluted--pro                    forma                                                                                                                                                                |   | $                                                                   | 0.08      |                                                              | $      | 0.15 |   |

----

| **Note                    7--** | **Public                    Offering of Common Stock** |
|---------------------------------|--------------------------------------------------------|

| **Note                    8--** | **Short-Term                    Borrowings** |
|---------------------------------|----------------------------------------------|

| **Note                    9--** | **Long-Term                    Debt** |
|---------------------------------|---------------------------------------|

|                                                                                                                                                                            |   | June                    30, |   | December                    31, |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|--------|---------------------------------|--------|
|                                                                                                                                                                            |   | 2006                        |   | 2005                            |   |
|                                                                                                                                                                            |   |                        |   |                            |   |
| Promissory                    note payable to a former officer/director payable in annual installments                    thru 2008, interest payable quarterly at 4% per annum |   | $                           | -      |                            | $      | 3,100,000 |   |
|                                                                                                                                                                            |   |                        |   |                            |   |   |   |
| Notes                    payable -- primarily vehicle loans                                                                                                                     |   |                        | 19,069 |                            |   | 27,309 |   |
|                                                                                                                                                                            |   |                        | 19,069 |                            |   | 3,127,309 |   |
| Less                    current maturities                                                                                                                                      |   |                        | 16,261 |                            |   | 916,244 |   |
|                                                                                                                                                                            |   |                        |   |                            |   |   |   |
|                                                                                                                                                                            |   | $                           | 2,808  |                            | $      | 2,211,065 |   |

----

**Exhibit      Index**

| Exhibit |                                                                                                                                                                                                                                                               |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Number  | Document                                                                                                                                                                                                                                                           |
|    |                                                                                                                                                                                                                                                               |
| 10.1    | Letter                Agreement with Southwest Bank of St. Louis dated June 28, 2006 (filed                herewith).                                                                                                                                              |
|    |                                                                                                                                                                                                                                                               |
| 10.2    | Promissory                Note with Southwest Bank of St. Louis dated June 28, 2006 (filed                herewith).                                                                                                                                               |
|    |                                                                                                                                                                                                                                                               |
| 31.1    | Certification                of Chief Executive Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a)                of the Securities Exchange Act, as amended (filed                herewith).                                                                   |
|    |                                                                                                                                                                                                                                                               |
| 31.2    | Certification                of Chief Financial Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a)                of the Securities Exchange Act, as amended (filed                herewith).                                                                   |
|    |                                                                                                                                                                                                                                                               |
| 32      | Certification                of Chief Executive Officer and Chief Financial Officer pursuant to                18                U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley                Act                of 2002 (filed herewith). |

----