Youngevity International announced it received an additional letter from The Nasdaq Stock Market indicating it is not in compliance with Nasdaq Listing Rule 5250(c) (1).
The letter from the Listing Qualifications Department indicated that Youngevity is not in compliance because its Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 and Annual Report on Form 10-K for the year ended December 31, 2019 have not been filed on a timely basis with the Securities and Exchange Commission.
As previously reported on April 2, 2020, Nasdaq notified Youngevity that it did not comply with its continued listing requirements as set forth in Nasdaq Listing Rule 5250(c)(1) due to its failure to timely file its Form 10-K. In accordance with the Nasdaq letter, dated April 2, 2020, Youngevity has until June 1, 2020, to submit a plan to regain compliance with Nasdaq’s continued listing requirements and if Nasdaq accepts the plan, it can grant an extension of up to 180 calendar days from the filing due date, of September 28, 2020, to regain compliance. Youngevity can also regain compliance with Nasdaq’s continued listing requirements at any time before September 28, 2020, by filing the Form 10-K and Form 10-Q with the Securities and Exchange Commission, as well as any subsequent periodic financial reports that may then become due. The notification letter has no immediate effect on the listing or trading of Youngevity’s common stock on the Nasdaq Market.
According to Youngevity, management is working diligently to complete the Form 10-K and Form 10-Q and intends to file each report as soon as practicable.