Youngevity International (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, on Monday announced its receipt of a letter
from the Listing Qualifications Department of The Nasdaq Stock Market LLC
indicating that, as a result of the delay in filing its Annual Report on Form
10-K for the fiscal year ended December 31, 2019, Youngevity is not in
compliance with the timely filing requirement for continued listing under
Nasdaq Listing Rule 5250(c)(1). According to the update, the letter has no
immediate effect on the listing or trading of Youngevity’s common stock on the
Nasdaq Market, and Nasdaq has informed Youngevity that it must submit a plan of
compliance within 60 calendar days of receipt of the letter addressing how it
intends to regain compliance with Nasdaq’s listing rules. If Nasdaq accepts the
plan, it may grant an extension of up to 180 calendar days from the Form 10-K
original filing due date to regain compliance.
In addition, Youngevity today announced that its wholly
owned subsidiary, Khrysos Industries, Inc., has begun producing hand sanitizer
in various sizes including 2 oz., 4 oz., 8 oz., and 1 gallon packaging. The FDA
granted the company a license to begin producing hand sanitizer in its Orlando,
FL facility, which it bought late last year, and Khrysos expects to be well
positioned to utilize its operation to produce hand sanitizer that is in high
demand due to the impact of the coronavirus. “We began shipping hand sanitizer
today and expect to ramp up production as necessary to meet the demand that is
still in short supply,” YGYI President and CFO Dave Briskie said in the news
release. “Our team at Khrysos is taking great pride in providing this product
especially to the nurses and doctors that are out there on the front line
fighting for those inflicted with this horrible virus.”
About Youngevity International, Inc.
Youngevity International, Inc. is a multi-channel lifestyle
company operating in three 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 more
information, please visit www.YGYI.com.
NOTE TO INVESTORS: The latest news and updates
relating to YGYI are available in the company’s newsroom at http://ibn.fm/YGYI
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