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Youngevity International, Inc. (YGYI) has received a Circuit Court ruling in Florida, awarding the company $20,915,507 in damages against former Khrysos President Dwayne Dundore. The judgement was granted for fraudulent inducement and breach of employment agreement. Although the court has ruled in favor of Youngevity, it is important to note that no assurances are provided on the collection of this awarded amount.
Youngevity International, Inc. (OTCM: YGYI) announced its progress towards becoming fully reporting by filing 10-Qs for Q1, Q2, and Q3 of 2020. CEO Steve Wallach emphasized the importance of achieving fully reporting status, while CFO Bill Thompson expressed an expectation to file the Annual Report on Form 10-K for 2020 and subsequent quarterly reports soon. The company operates through three segments: commercial coffee, direct marketing, and nutraceutical manufacturing.
Youngevity International, Inc. (OTCMKTS: YGYI) announced a shareholder conference call scheduled for October 21, 2021, at 4:30 PM ET. The call aims to provide updates on the company's progress in financial reporting and its future vision. Shareholders can submit questions until October 20, at 4:30 PM ET, which will be incorporated into the discussion. The call can be accessed via toll-free dial-in at 914-614-3221, with a replay available from October 22. Youngevity operates in commercial coffee, direct marketing, and hemp enterprises.
Youngevity International, Inc. (OTCM: YGYI) has declared a regular monthly dividend of $0.203125 per share for its 9.75% Series D Cumulative Redeemable Perpetual Preferred Stock (OTCM:YGYIP) for the months of October, November, and December 2021. The dividend will be payable on November 15, December 15, and January 17 to holders of record as of October 31, November 30, and December 31 respectively. This announcement highlights the company's ongoing commitment to returning value to shareholders.
Youngevity International, Inc. (OTCMKTS: YGYI) has successfully completed the restatement of its quarterly financial statements for the year ended December 31, 2019. This marks a significant step toward finalizing its 2020 Annual Report on Form 10-K. CEO Steve Wallach and CFO Bill Thompson emphasized the importance of current financial reporting and the ongoing audit for fiscal 2020, expected to conclude in Q4 2021. The company aims to achieve timely reporting of its financials moving forward.
Youngevity International (YGYI) announced the filing of its 2019 financial results, concluding a challenging audit process due to revenue recognition issues in its coffee segment. The completion of the Form 10-K is viewed as a step toward streamlining future filings, with the company aiming to finalize its 2020 Form 10-K by Q4 2021. The significant restatement of prior Q1-Q3 financials underscores irregularities in the coffee and hemp segments, necessitating immediate updates. Adjusted EBITDA, a key performance metric, highlights ongoing operational assessments despite the challenges.
Youngevity International (OTCMKTS: YGYI) updated shareholders on its financial reporting and business operations amid COVID-19 challenges. The company aims to become current with SEC filings and is focused on relisting on a national securities exchange. Significant timeline adjustments were made, with 2019 financial reporting expected by May 1, 2021, and 2020 reports by July 1, 2021. The Direct Selling Segment plans approximately $127 million for 2019 and $121 million for 2020 in revenue. The Commercial Coffee Segment anticipates improvement as cruise line bookings rise, while the Commercial Hemp Segment is seeing increased orders.
Youngevity International, Inc. (YGYI) has received a delisting notice from the Nasdaq Hearings Panel due to failure to file required financial reports, including the Form 10-K for 2019 and Forms 10-Q for Q1 and Q2 of 2020. Following this decision, Nasdaq will suspend trading as of November 20, 2020, and plans to file a Form 25 with the SEC to formally delist the company. Youngevity expects to trade on OTC Markets under the same symbols, YGYI and YGYIP. CEO Steve Wallach indicated plans to update shareholders on progress and efforts to relist on a national exchange.
Youngevity International, Inc. (NASDAQ: YGYI) has appointed MaloneBailey, LLP as its new independent registered public accounting firm. William G. Thompson is the new Chief Financial Officer, succeeding David S. Briskie, who takes on the role of Chief Investment Officer while remaining President. The board also welcomed Daniel Dorsey as a new member, maintaining the board's size at five. Thompson brings extensive experience, having previously served as Corporate Controller at YGYI and CFO for other companies. CEO Steve Wallach expressed confidence in the leadership transition.
Youngevity International, Inc. (NASDAQ: YGYI) has announced that its subsidiary CLR Roasters has partnered with Unified Wholesale Grocers to distribute the Café La Rica brand across Florida's Gold Coast, including Palm Beach, Broward, Miami-Dade, and Monroe Counties. This partnership allows Unified Wholesale Grocers to cater to local independent supermarkets and convenience stores, having already purchased over four truckloads of the espresso brand. Youngevity aims to expand its retail presence in South Florida with this collaboration.
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