SAN DIEGO, May 18, 2020 /PRNewswire/ -- Youngevity
International, Inc.: (NASDAQ: YGYI),, a leading multi-channel
lifestyle company operating in three distinct business segments
including a commercial coffee enterprise, commercial hemp
enterprise and multi-channel lifestyle company, today announced
that it received an additional letter from the Listing
Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq")
indicating that Youngevity's is not in compliance with NASDAQ
Listing Rule 5250(c) (1) because its Quarterly Report on Form 10-Q
for the quarter ended March 31, 2020
(the "Form 10-Q") and Annual Report on Form 10-K for the year ended
December 31, 2019 (the "Form 10-K")
have not been filed on a timely basis with the Securities and
Exchange Commission.
As previously reported on April 2,
2020 Nasdaq notified Youngevity that it did not comply with
its continued listing requirements as set forth in Nasdaq Listing
Rule 5250(c)(1) due to its failure to timely file its Form
10-K. In accordance with the Nasdaq letter, dated April 2,
2020, Youngevity has until June 1, 2020, to submit a plan to regain
compliance with Nasdaq's continued listing requirements and if
Nasdaq accepts the plan, it can grant an extension of up to 180
calendar days from the filing due date, of September 28, 2020, to
regain compliance. Youngevity can also regain compliance with
Nasdaq's continued listing requirements at any time before
September 28, 2020, by filing the Form 10-K and Form 10-Q with the
Securities and Exchange Commission, as well as any subsequent
periodic financial reports that may then become due. The
notification letter has no immediate effect on the listing or
trading of Youngevity's common stock on the Nasdaq Market.
Youngevity's management is working diligently to complete the
Form 10-K and Form 10-Q and intends to file each report as soon as
practicable.
About Youngevity International, Inc.
Youngevity International, Inc.
( NASDAQ : YGYI ), is a multi-channel lifestyle
company operating in 3 distinct business segments including a
commercial coffee enterprise, a commercial hemp enterprise, and a
multi-vertical omni direct selling enterprise. The Company
features a multi country selling network and has assembled a
virtual Main Street of products and services under one corporate
entity, YGYI offers products from the six top selling retail
categories: health/nutrition, home/family, food/beverage (including
coffee), spa/beauty, apparel/jewelry, as well as innovative
services. For investor information, please visit YGYI.com. Be
sure to like us on Facebook and follow us
on Twitter
Safe Harbor Statement
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. In
some cases, forward-looking statements can be identified by
terminology such as "may," "should," "potential," "continue,"
"expects," "anticipates," "intends," "plans," "believes,"
"estimates," and similar expressions, and includes statements
regarding completion of our Form 10-K and Form 10-Q. These
forward-looking statements are based on management's expectations
and assumptions as of the date of this press release and are
subject to a number of risks and uncertainties, many of which are
difficult to predict that could cause actual results to differ
materially from current expectations and assumptions from those set
forth or implied by any forward-looking statements. Important
factors that could cause actual results to differ materially from
current expectations include, among others, our ability to our
ability to develop and grow our commercial coffee and hemp
segments, our ability to continue our international growth, our
ability to leverage our platform and global infrastructure to drive
organic growth, our ability to return to profitability,
expand our liquidity, and strengthen our balance sheet, our ability
to continue to maintain compliance with the NASDAQ requirements,
the acceptance of the omni-direct approach by our customers, our
ability to expand our distribution, our ability to add additional
products (whether developed internally or through acquisitions),
and the other factors discussed in our Annual Report on Form 10-K
for the year ended December 31, 2018
and our subsequent filings with the SEC, including subsequent
periodic reports on Forms 10-Q and 8-K. The information in this
release is provided only as of the date of this release, and we
undertake no obligation to update any forward-looking statements
contained in this release on account of new information, future
events, or otherwise, except as required by law.
Contacts:
Youngevity International, Inc.
Dave Briskie
President and Chief Financial Officer
1 800 982 3189 X6500
Investor Relations
YGYI Investor Relations
investors@ygyi.com
Media Relations
Trendlogic PR
800.992.6299
contact@trendlogicpr.com
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SOURCE Youngevity International, Inc.