SAN DIEGO, Nov. 19, 2020 /PRNewswire/ -- Youngevity
International, Inc. (NASDAQ: YGYI), a leading multi-channel
lifestyle company, today announced that the Company received notice
on November 18, 2020 from the Nasdaq
Hearings Panel (the "Panel") that it has determined to delist the
Company's securities from The Nasdaq Stock Market LLC ("Nasdaq")
based upon the Company's non-compliance with the filing
requirements set forth in Nasdaq Listing Rule 5250(c)(1) for
failing to file its Form 10-K for the year ended December 31, 2019,
and Forms 10-Q for the periods ended March 31, 2020 and June 30,
2020. As a result of the Panel's decision, Nasdaq will suspend
trading in the Company's securities effective at the open of
business on Friday, November 20, 2020 and indicated that it intends
to file a Form 25 Notification of Delisting with the Securities and
Exchange Commission (the "SEC"), notifying the SEC of Nasdaq's
determination to remove the Company's securities shares from
listing on Nasdaq under Section 12(b) of the Securities Exchange
Act of 1934, as amended.
The formal delisting of the Company's common shares from Nasdaq
will become effective ten days after the Form 25 is filed. In
connection with the suspension of trading on The Nasdaq Capital
Market, the Company expects that its common stock and Series D
preferred stock will be eligible to trade on the OTC Markets system
effective with the open of the markets on Friday, November 20, 2020. The Company expects
that both its common stock and Series D preferred stock will trade
under its current trading symbols YGYI and YGYIP on the OTC
Markets.
Steve Wallach, CEO of Youngevity
International, Inc stated, "We are in the process of preparing a
shareholder communication letter which will provide an update on
recent progress that has been made at the Company including
business highlights, and our plan to become current in our
financial reporting and relist on Nasdaq or another national
securities exchange."
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. 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, and include statements regarding
providing an update on recent progress that has been made at the
Company including business highlights, and our plan to become
current in our financial reporting and relist on Nasdaq or another
national securities exchange.. Important factors that could cause
actual results to differ materially from current expectations
include, among others, our ability to become current in our
financial reporting and relist on Nasdaq or another national
securities exchange, our ability to continue our coffee segment and
hemp segment growth, our ability to continue our international
growth, our ability to leverage our platform and global
infrastructure to drive organic growth, our ability to improve our
profitability, expand our liquidity, and strengthen our balance
sheet, the acceptance of the omni-direct approach by our customers,
our ability to expand our distribution, our ability to continue our
financial performance 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 Investment Officer
1 800 982 3189 X6500
Investor Relations
YGYI Investor Relations
investors@ygyi.com
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SOURCE Youngevity International, Inc.