JRJR Networks Filing Update
October 20 2017 - 4:30PM
Business Wire
JRjr33, Inc., doing business as JRJR
Networks (NYSE American: JRJR) today announced that on
October 19, 2017, it received a letter from the NYSE American LLC
(the “NYSE American”) notifying it that the Company was not in
compliance with Sections 134 and 1101 of the NYSE American Company
Guide as a result of its failure to timely file its Form 10-Q for
the periods ended March 31, 2017 and June 30, 2017 with the
Securities and Exchange Commission.
The NYSE American letter stated that the NYSE American has
reviewed the Company’s October 11, 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 December 18, 2017. The letter also
states that if the Company is not in compliance with the continued
listing standards by December 18, 2017 or if the Company does not
make progress consistent with the plan during the plan period, the
NYSE American staff will initiate delisting proceeding, as
appropriate. The Company intends to file the Form 10-Qs prior to
December 18, 2017.
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; 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 Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2017 and June
30, 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
American 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, 2016 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20171020005701/en/
JRJR NetworksInvestor Relations:Brenton
Bakerbrenton.baker@jrjrnetworks.com
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