SAN DIEGO, U.S. — Youngevity International, Inc., 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.”
