YGYI - CannabisNewsBreaks - Youngevity International Inc. (NASDAQ: YGYI) Receives Nasdaq Notification Regarding Delayed Form 10-K Filing Khrysos Subsidiary Secures FDA Rights to Produce Hand Sanitizer
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."
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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.
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