Youngevity International Inc (YGYI)

Finally an end to the said and twisted tale of PURE.

YGYI SEC registration revoked;

https://www.sec.gov/files/litigation/admin/2023/34-99086.pdf

Mid-evil rapists they are

YGYI: SEC Admin. Proceeding for severely delinquent Financials (Sept 2020):

https://www.sec.gov/files/litigation/admin/2023/34-98356.pdf

Two years of no trading. Will it one day?

How's that come out party going?..They all came out n ran like hell.Damn,remember the days of JCOF N Premium Java....

dgor=======
They are getting ready to have a big come out party soon====

Been a long time since I've been in this so called stock.Guess I didn't miss anything except the sinking boat.Is Premium still around?

If not, they sure have a lot of people fooled =====

The board cronies award themselves a 50% dividend on the preferds every quarter, other than that…no

Is this company still in business?

They sound pretty up beat on the conf call.

Any body hear anything on the meeting yesterday.

HMBL! The Amazon Of Digital Assets! Do some DD

Gold mine stock my friends!

https://twitter.com/i/spaces/1BdGYYZvYPXGX

Looks like they are getting things in order=====NO BK=====

Audit Update:

With the benefit of 60 days of comprehensive audit work since the time of our last update our auditors are nearly complete with their analysis. As a result, we feel compelled to adjust our timeline forward approximately 45 days from what we outlined in our last update to shareholders. We now fully expect that we can complete our 2019 financial reporting on or before May 1, 2021 and anticipate completing our 2020 quarterly and annual reports by July 1, 2021. We also anticipate being on a current reporting cadence by September 1, 2021.

The Company's common stock is expected to trade on the OTC Pink Market until such time that the Company may apply for relisting to a national securities exchange. To that end, we intend to ramp up our efforts to strengthen internal controls and financial reporting to expedite the relisting process.

Full Press Release
https://www.otcmarkets.com/stock/YGYI/news/story?e&id=1844345

They haven’t filed because they legally can not, as there are errors in past filings. They would end up in jail, imo. Just another Greysheet/pinksheet scamming the public.

I'll just continue to hold both and hope the company can come back to life and than maybe my common shares will be worth something

I think they continue to pay the dividend to the preferred cuz the board and their family members probably own the lion’s share of those shares. So you’re better aligned with management, which is good for you I suppose, and probably why the common has been left for dead. The preferred price is stable and continue to get an inflated interest payment, while the common are hanging by a thread and company looks abandoned.

anyone still here? I own some common and preferred shares and they are still paying the monthly dividends. I assume the is a good sign that we may hear something positive soon?

Now that they are off the nasdaq how long or what is the process of getting back in ??? Reverse split ????

I was told they haven’t filled because someone owes them money. Lol what a joke that cocky Steve Wallach and his partners are up to no good

After about a $30,000,000 net loss in 2109, 2020 must have been even worse, if they couldn’t afford to continue their frivolous lawsuits that they just settled. They screwed former employees, just like they will screw current employees. Constant screwing of everyone that does business with them, due to numerous poorly managed decisions over the past 6 years.

Did they ever conclude the "divestiture deal"?

It's Carl Grover's call on how to proceed, but it's pretty clear they're not going to repay him according to the original terms of the note. Carl needs to decide if he rolls the dice and lets the company continue to operate, or brings things to an end in December.

If he thinks his equity is $0, then he's playing to preserve as much value as possible on his $5 million secured note. It's a hard call by Carl Grover since he has so much tied up in this company. I'm glad I'm not in his shoes.

Every time the company makes a dividend payment on the preferreds, that's cash that's not going to Grover. That's got to burn.

I get all the delisting issues. Simply stating the preferred dividends were significant and they didn’t balk, so they clearly have some money.

I don’t know if they have the cash...maybe it’s a renegotiation? Whatever the case $5 mill isn’t enough to bankrupt the company. They have revenue streams that can be grown. MLM is clearly a mess but you’d think with the e-commerce boom, they could have benefited. The management team clearly isn’t a savvy group, but coffee and cannabis divisions have value. They simply need to get their shit together and run the company as a publicly traded company should be ran. Clearly being delisted was inexcusable as it took much effort to get on the Nasdaq. 2018 gave them a golden opportunity to dilute for cash, if needed, and they missed the opportunity. The preferred offering wasn’t terrible had they put the cash to work. Idk but seems to me there is more to the story.

Other than management, no one knows for sure how much cash they have on hand since they haven't filed their financials since the end of the third quarter 2019! That's why Nasdaq delisted them.

Their last 8k filing from a few weeks ago showed an unexpected write-down of +$10 mm, so we know they won't be getting paid the $5 million that their the Nicaraguan partner owes them.

YGYI's last filing showed $7.2 million of cash on September 30, 2019.During the first nine months of the year, the company's cash flow statement showed it burned $7.7 mm of cash, or $2.5 mm per quarter. We're now 4 quarters removed from their last filing. If you give the company the benefit of the doubt and assume they burned an average of $1.5 mm per quarter, not $2.5 mm as they had been doing, that's about $6 million, leaving $1.2 million cash on the balance sheet at September 2020. $1.2 million isn't going to retire a $5 million obligation.

Why do you think they have the cash to make the $5 million payment?

Ted

The amount owed is just pocket change for Briskie====No BR

They’ve been paying hefty preferred dividends, what makes you think they don’t have a measly $5 million

Happy to play along, oltimer.

Please explain what happens on December 12, 2020 when the company must repay $5 million to its secured debtholder?

YGYI doesn't have enough cash to make this payment and cannot arrange a refinancing. The secured debtholder lacks any incentive to restructure his debt. The company can't offer new collateral, can't make a partial cash repayment on the note of any size, and the company is likely continuing to burn cash.

If the company's future looked positive, and there's no reason to think the company's future looks positive, the debtholder could agree to convert some debt into stock in a transaction that would severely dilute equity holders.

If the company converted a mere $2.5 million of debt into equity at $0.30, the company would need to issue 8.3 million shares ($2,500,000/$0.30). The company has about 30 million shares outstanding, so that transaction would increase the share count by almost 30%. This is a good transaction for current equity, only relative to a bankruptcy, but would drop the share price to $0.20.

Why someone with a secured claim would give up any of that for an equity claim on a company like YGYI is inconceivable. For that reason, the likely outcome to this is a bankruptcy. Not saying it's the only outcome, but a very likely one.

How, oltimer, does the debtholder and the Company resolve the repayment issue on December 12, 2020 and avoid bankruptcy? It's a question for you to answer if you claim the company will not file for bankruptcy protection.

TED======

Their will be no (BR}====period=====Mark my words==

Can someway give insight on why Dave Briskie doesn't show as a share holder on yahoo finance. Before he had 700K plus shares now I don't see him. Does that mean he dumped the shares or what??? Every share holder should be talking to an attorney for sure. Especially when YGYI spent shareholder money on lawsuits that they never disclosed. I know I am looking into this. The facts are the facts and its in black and white now.

Unless your investment is in Ted Inc. and not YGYI, oldtimer, you're better off using your energy to understand what's going to happen to your capital invested in YGYI. A good place to start might be to ask yourself what happens on December 12th when YGYI can't repay Mr. Grover?

Ted

How long did you work for YGYI before they canned you=======

Here's a summary of transactions to consider if you plan to hold YGYI shares:

(1) Carl Grover lends $5 million to YGYI & CLR Coffee Roasters on December 13, 2018; YGYI agrees to repay Mr. Grover on December 12, 2020. See footnote #1 below from YGYI SEC filings.

(2) CLR Roasters lends $5 million to H&H Export in December 2018; H&H Export agrees to repay CLR no later than November 30, 2020. See footnote #2 below from YGYI SEC filings.

(3) On October 13, 2020, YGYI discloses that it must write down the value of its loan to H&H Export to $0. In other words, H&H Export will not pay CLR Roasters (YGYI) anything on November 30, 2020 and YGYI must recognize $5.3 million of losses on its income statement. See footnote #3 below from YGYI SEC filings.

(4) On December 12, 2020, YGYI owes Mr. Grover $5 mm principal + $800k interest. See footnote #4 below with simple interest calculation.

(5) YGYI has no cash to repay Mr. Grover and fails to find someone as insane as Mr. Grover to refinance his maturing note which is backed by green coffee in Nicaragua that's already written down to $0. What do you think happens next? See footnote #5 below.

FOOTNOTES:
(1) On December 13, 2018, CLR, entered into a Credit Agreement with Carl Grover (the “Credit Agreement”) pursuant to which CLR borrowed $5,000,000 from Mr. Grover and in exchange issued to him a $5,000,000 credit note (“Credit Note”) secured by its green coffee inventory under a Security Agreement, dated
December 13, 2018 (the “Security Agreement”), with Mr. Grover and CLR’s wholly-owned subsidiary, Siles, as guarantor, and Siles executed a separate Guaranty Agreement (“Guaranty”). The Credit Note accrues interest at eight percent (8%) per annum. All principal and accrued interest under the Credit Note is due and payable on December 12, 2020.

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(2) In December 2018, CLR advanced $5,000,000 to H&H Export to provide services in support of a 5-year contract for the sale and processing of 41 million pounds of green coffee beans on an annual basis. The services include providing hedging and financing opportunities to producers and delivering harvested coffee to the Company’s mills. On March 31, 2019, this advance was converted to a $5,000,000 loan agreement as a note receivable and bears interest at 9% per annum and is due and payable by H&H Export at the end of each year’s harvest season, but no later than October 31 for any harvest year. On October 31, 2019, CLR and H&H Export amended the March 31, 2019 agreement in terms of the maturity date, to all outstanding principal and interest shall be due and payable at the end of the 2020 harvest (or when the 2020 season’s harvest is exported and collected), but never to be later than November 30, 2020. The loan is secured by H&H Export’s hedging account with INTL FC Stone, trade receivables, green coffee inventory in the possession of H&H Export and all green coffee contracts. As of September 30, 2019, the $5,146,000 note receivable remains outstanding which includes accrued interest.

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(3) The Company also has recently determined that the value of the collateral underlying a promissory note, due November 2020, in the principal and interest amount of $5.3 million, from H&H has been impaired, resulting in an impairment allowance for $5.3 million. As a result, management believes it is more than likely that the Company will not collect the outstanding balance and interest due on the note receivable, and allowances for doubtful accounts should be recognized at December 31, 2019.

The Company has therefore recognized allowances for collectability against the remaining net trade account receivable, notes receivable and other receivables due from H&H for approximately $5.0 million, $5.3 million and $397,000, respectively. These amounts have been recorded as allowances for doubtful accounts at the end of December 31, 2019.

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(4) $5,000,000 * 8% = $400,000 * 2 = $800,000.

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(5) YGYI has no options other than to file bankruptcy.

What happen to YGYIP dividend pay outs ?

It is a Grey Sheet Stock

Will OTCMarkets list it?

Yep. And they still got Wallach’d.

You were all warned of what was to come.

YGYI delisted from the Nasdaq to the OTC:

https://otce.finra.org/otce/dailyList?viewType=Additions

WOW YGY officially Delisted. The Stock is tanking big time

More Bad News for YGYI
Pareteum Provides Business Update in Open Letter to Shareholders
LINK: https://finance.yahoo.com/news/pareteum-provides-business-open-letter-213000847.html

For those of you who think Nasdaq will not kick companies on account of COVID, this is very bad news. Pareteum's failures look almost exact the same as Youngevity's - failure to fail 10K and 10Qs. Pareteum, stock symbol TEUM, is down 40% today.
More

Delisting Update
Any one hear if the company received notification from Nasdaq on the outcome of the hearing and timing of a potential delisting? With all the pump and dump games going on with this stock, down listing to the OTC will be a disaster, making the stock even more susceptible to manipulation. No one will invest in it again.

We are in play here.
Giddy up.

Yup. That can’t be good. Probably an insider or someone in the know that tomorrow looks bleak. The delisting news is slated for tomorrow so.....

Big dump last half hour of day. 500K shares?

At least they have that going for them!

I bought a bottle so they made at least $30.