SAN DIEGO, U.S. — Youngevity International, Inc., 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, today announced that on August 12, 2020 it received an additional notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 has not been filed on a timely basis with the Securities and Exchange Commission.
As a result of this additional delinquency, the Youngevity International must submit to Nasdaq an update to its original plan to regain compliance with respect to the filing requirement.
On August 11, 2020, the Company also received an additional notification letter from Nasdaq stating that the staff (the “Staff”) had determined to grant an exception to enable the Company to regain compliance with Nasdaq Listing Rule 5250(c)(1). To comply with the exception, on or before September 28, 2020, the Company must file all delinquent reports, as required by Nasdaq Listing Rule 5250(c)(1). In the event the Company does not satisfy the terms, Staff will provide written notification that its securities will be delisted. At that time, the Company may appeal Staff’s determination to a Nasdaq Hearings Panel.
On April 2 and May 14, 2020, the Staff notified the Company that it did not comply with Nasdaq’s filing requirements set forth in the Rule because it had not filed its Form 10-K for the year ended December 31, 2019 and Form 10-Q for the period ended March 31, 2020, respectively.
The Company’s management is working diligently to complete the Form 10-K, March 31 Form 10-Q and June 30 Form 10-Q and intends to file each report as soon as practicable.