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, today provided an update on the impact of the
COVID-19 virus on its operations. According to the update, all of Youngevity’s
three reporting segments have been able to continue operations, as each falls
into the category of an essential business. Although Youngevity continues
to generate revenue in all segments, it has experienced difficulty in meeting
its filing deadline for its Annual Report on Form 10-K for the year ended December
31, 2019, due to displacement of its non-essential personnel in various offices
in the U.S. and around the world caused by the global outbreak. This
displacement, including substantially all accounting staff, restrictions
imposed by various governments, and displacement of its auditors’ staff, among
other areas of impact, has slowed down the financial reporting and audit
process causing the company to miss the filing date of its 10-K. “We are
complying with all government initiatives and recommendations and our company
is pro-actively taking the health and safety of our employees very seriously by
implementing smart-work initiatives by encouraging, when and where possible,
work from home options,” Youngevity International Chairman and CEO Steve Wallach
stated in the news release. “These factors, in spite of a huge effort by the
accounting and finance team, has made it impossible to meet our financial
reporting deadline. We feel fortunate that our operations are able to generate
revenue in all segments.”
To view the full press release, visit http://ibn.fm/o0KaH
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.
NOTE TO INVESTORS: The latest news and updates
relating to YGYI are available in the company’s newsroom at http://ibn.fm/YGYI
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide
a rapid summary of corporate news that catch the attention of QualityStocks.
QualityStocksBreaks are designed to keep investors up to date on important and
breaking news in the small-cap and micro-cap markets. Spanning all industries,
including energy, entertainment, telecommunications, healthcare, retail and
more, these news breaks deliver opportunities the investment community may have
missed. Whether it is earnings results, mergers and acquisitions, or any other
market-moving news, our news breaks keep you in the know. QualityStocks is
committed to connecting subscribers with companies that have huge potential to
succeed in the short and long-term future. It is part of our mission statement
to help the investment community discover emerging companies that offer
excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the
QualityStocks website applicable to all content provided by QS, wherever
published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment