SAN DIEGO, Oct. 2, 2020 /PRNewswire/ — Youngevity International, Inc.: (NASDAQ: YGYI) (the “Company”), a number one multi-channel life-style firm working in three distinct enterprise segments together with a business espresso enterprise, business hemp enterprise and multi-channel life-style firm, at present introduced that on September 29, 2020 it obtained a Staff Determination Letter (the “September Notification”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Staff of Nasdaq (the “Staff”) has decided that the Company didn’t meet the phrases of the exception beforehand granted to it by Nasdaq (the “Exception”) pursuant to the notification letter obtained by the Company on August 11, 2020. Under the Exception, the Company was obligated to have filed its Annual Report on Form 10-Ok for the 12 months ended December 31, 2019, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 (the “Delinquent Filings”) by September 28, 2020, as a way to regain compliance with Nasdaq Listing Rule 5250(c)(1) (the “Rule”). The September Notification additionally offered that the Company could be topic to suspension until the Company well timed requested a listening to earlier than a Nasdaq Hearings Panel (the “Panel”). Accordingly, the Company intends to well timed request a listening to earlier than the Panel. Under Nasdaq’s guidelines, this can end in an automated keep of any suspension or delisting motion by October 21, 2020. In reference to the listening to request, the Company will even be requesting the keep be prolonged till the Panel points its determination following the listening to and thru the expiration of any further extension interval granted by the Panel. The Company’s securities will proceed to commerce on Nasdaq underneath the symbols YGYI and YGYIP whereas the keep stays in place. However, there will be no assurance that the Panel will grant the Company’s request for continued itemizing on The Nasdaq Capital Market, or that the Company will finally regain compliance.
Additionally, on September 29, 2020, the Company obtained a notification (the “Notification”) from the Staff stating that the Company has fallen under the $1.00 minimal bid value requirement of Nasdaq Listing Rule 5550(a)(2) (“Rule 5550(a)(2)”) based mostly on the closing bid value of the Company’s widespread inventory for the earlier 30 consecutive buying and selling days. The Company has a compliance interval of 180 calendar days by which to regain compliance previous to any additional motion being taken by Nasdaq. If at any time throughout this 180-day interval the closing bid value of the Company’s widespread inventory is not less than $1.00 for at least 10 consecutive enterprise days, the Company could also be deemed to have regained compliance with Rule 5550(a)(2).
The Company intends to regain compliance with the minimal bid value requirement of Rule 5550(a)(2) throughout the 180-day compliance interval, although there will be no assurance that it will likely be ready to take action.
About Youngevity International, Inc.
Youngevity International, Inc. (NASDAQ: YGYI), is a multi-channel life-style firm working in three distinct enterprise segments together with a business espresso enterprise, a business hemp enterprise, and a multi-vertical omni direct promoting enterprise. The Company encompasses a multi nation promoting community and has assembled a digital Main Street of services and products underneath one company entity, YGYI affords merchandise from the six high promoting retail classes: well being/diet, residence/household, meals/beverage (together with espresso), spa/magnificence, attire/jewellery, in addition to progressive providers. For investor data, please go to YGYI.com. Be positive to love us on Facebook and observe us on Twitter
Safe Harbor Statement
This launch accommodates forward-looking statements throughout the which means of the Private Securities Litigation Reform Act of 1995. In some instances, forward-looking statements will be recognized by terminology akin to “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and comparable expressions, and consists of statements concerning completion of our Annual stories on Form 10-Ok and Quarterly Reports on Form 10-Q, the Company’s intention to enchantment the dedication by the Staff, and the Company’s means to regain compliance with the minimal bid value requirement. These forward-looking statements are based mostly on administration’s expectations and assumptions as of the date of this press launch and are topic to a variety of dangers and uncertainties, a lot of that are tough to foretell that might trigger precise outcomes to vary materially from present expectations and assumptions from these set forth or implied by any forward-looking statements. Important elements that might trigger precise outcomes to vary materially from present expectations embrace, amongst others, our means to file our Quarterly Reports on Form 10-Q for the interval ended March 31, 2020 and June 30, 2020 and Annual Report on Form 10-Ok for the 12 months ended December 31, 2019, and our means to regain compliance with the $1.00 minimal bid value requirement, our means to regain compliance with the Nasdaq necessities, and thereafter preserve compliance with the Nasdaq necessities, our means to file a proper enchantment with the Nasdaq Hearing Panel and obtain a profitable consequence, our means to proceed our espresso phase and hemp phase progress, our means to proceed our worldwide progress, our means to leverage our platform and international infrastructure to drive natural progress, our means to return to profitability, increase our liquidity, and strengthen our stability sheet, the acceptance of the omni-direct strategy by our prospects, our means to increase our distribution, our means so as to add further merchandise (whether or not developed internally or by acquisitions), and the opposite elements mentioned in our Annual Report on Form 10-Ok for the 12 months ended December 31, 2018 and our subsequent filings with the SEC, together with subsequent periodic stories on Forms 10-Q and 8-Ok. The data on this launch is offered solely as of the date of this launch, and we undertake no obligation to replace any forward-looking statements contained on this launch on account of latest data, future occasions, or in any other case, besides as required by regulation.
Youngevity International, Inc.
President and Chief Financial Officer
1 800 982 3189 X6500