DALLAS, July 20, 2017 /PRNewswire/ -- JRjr33, Inc.,
doing business as JRJR Networks [NYSE MKT: JRJR] today
announced that on July 14, 2017, it
received a letter from the NYSE notifying it that the Company was
not in compliance with Sections 134 and 1101 of the NYSE MKT
Company Guide as a result of its failure to timely file its Form
10-Q for the period ended March 31,
2017 with the Securities and Exchange Commission.
The NYSE has reviewed the Company's May
18, 2017 plan advising of actions it has taken or will take
to regain compliance with the continued listing standards and
determined to accept the plan and grant a plan period extension
through October 18, 2017. The
Company intends to file the Form 10-Q as soon as reasonably
practicable after completion of the audit.
The Company attributes the delay to fieldwork beginning later
than planned as a result of its decision to change auditors and
other professionals involved in assisting it with its filing
process. The Company intends to file the Form 10-Q as soon as
reasonably practicable after completion of the audit.
About JRJR Networks
(www.jrjrnetworks.com)
JRJR Networks is a growing platform of direct-to-consumer
brands. Within JRJR Networks, each company retains its separate
identity, sales force, product line and compensation plan, while
JRJR Networks seeks synergies and efficiencies in operational
areas. JRJR Networks companies currently include The
Longaberger Company, a 42-year old maker of hand-crafted baskets
and other home decor items; Your Inspiration At Home, an
award-winning maker of hand-crafted spices and other gourmet food
items from around the world; Tomboy Tools, a direct seller of
tools designed for women; Agel Enterprises, a global seller of
nutritional products in gel form as well as a skin care line,
operating in 50 countries; Paperly, which offers a line of
custom stationery and other personalized products; Uppercase
Living, which offers a line of customizable vinyl expressions for
display on walls in the home; Kleeneze, a 95-year old UK-based
catalog seller of cleaning, health, beauty, home, outdoor and a
variety of other products, and Betterware, a UK-based home
catalog seller. JRJR Networks also includes Happenings, a
lifestyle publication and marketing company.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact
contained in this press release are forward-looking statements. In
some cases, forward-looking statements can be identified by
terminology such as "anticipate," "believe," "can," "continue,"
"could," "estimate," "expect," "intend," "may," "plan,"
"potential," "predict," "project," "should," or "will" or the
negative of these terms or other comparable terminology and include
statements regarding expected timing of the filing of the Annual
Report on Form 10-Q for the quarter ended March 31, 2017. 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 timely file our
requisite filings with the Securities and Exchange Commission, our
ability to meet the continued listing requirements of the NYSE MKT,
our ability to expand leadership activities in support of our
sales, our ability to continue to grow, our ability to integrate
the entities that we have acquired, our ability to strengthen our
internal controls and the other risks outlined under "Risk Factors"
in our Annual Report on Form 10-K for our fiscal year ended
December 31, 2015 and our other
filings with the SEC, including subsequent 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.
Contact:
Investor Relations: Tucker Gagen
(tucker.gagen@jrjrnetworks.com)
Media Contact: Brenton Baker
(brenton.baker@jrjrnetworks.com)
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SOURCE JRJR Networks