San Diego, CA – January 14, 2021 – Youngevity International, Inc. (OTCMKTS: YGYI) (“YGYI” or the “Company”), a multi-channel lifestyle company operating in three distinct business segments, including a commercial coffee enterprise, a direct marketing enterprise, and a commercial hemp enterprise, today issued an open letter to shareholders.
First, the management team at YGYI would like to extend well wishes for a happy, healthy, and prosperous 2021. We entered 2020 with a great deal of optimism and we were confident that we had the Company well positioned for a solid year. Although COVID-19 has negatively impacted so many of us, our Company included, meeting our financial reporting requirements became a challenge we were unable to overcome in 2020. On November 19, 2020, as you know, we issued a press release announcing the delisting of YGYI’s securities from The Nasdaq Stock Market LLC (“Nasdaq”). The delisting was based upon our non-compliance with the filing requirements set forth in Nasdaq Listing Rule 5250 (c)(1) for failing to file our Form 10-K for the year end December 31, 2019, and Forms 10-Q for the periods ended March 31, 2020, June 30, 2020 and September 30, 2020. We understand and shared in the disappointment this announcement caused our team and our shareholders. Our intention, as stated in the press release, continues to be our drive to get current in our financial reporting and relisting on Nasdaq or another national securities exchange.
As promised, we are issuing this shareholder communication letter to provide an update on our progress. We greatly appreciate your patience and understanding as we are working through this important process.