SAN DIEGO, Oct. 28, 2020 /PRNewswire/ -- Youngevity
International, Inc. (NASDAQ: YGYI) ("YGYI" or the "Company"), a
leading multi-channel lifestyle company, today announced the
appointment of MaloneBailey, LLP ("MaloneBailey") as its new
independent registered public accounting firm responsible for
auditing its financial statements. The Company also announced
that William G. Thompson accepted
the position of Chief Financial Officer of the Company and as a
result resigned from the Board of Directors of the Company and as a
member and Chairman of the Audit Committee. In connection with Mr.
Thompson's appointment, David S.
Briskie was appointed Chief Investment Officer of the
Company and resigned as the Company's Chief Financial Officer to
allow Mr. Thompson to assume the full-time role of YGYI's Chief
Financial Officer. Mr. Briskie will retain his title of
President and as Chief Investment Officer "CIO" will continue to
maintain relationships with YGYI's current shareholder base and
will work to expand the shareholder base of YGYI.
Steve Wallach CEO of Youngevity International, Inc stated, "We
appreciate the dual role that Dave
Briskie has played for YGYI as President and CFO of YGYI for
so many years. We look forward to seeing the impact he will
have on our business while focusing on his role as President, and
now CIO, of our company."
Dave Briskie, President and CIO
of YGYI stated, "I am so enthusiastic that William Thompson has accepted the role of Chief
Financial Officer of YGYI. Mr. Thompson has been a key
participant on our board of director's as Chairman of our Audit
Committee and we feel he is the perfect choice to pass the torch to
as our full time CFO."
Mr. Thompson, age 59, had served on the Company's Board of
Directors since June 10, 2013. He
most recently served from March 2013
to September 2019 as Chief Financial
Officer of Broadcast Company of the Americas, a radio station
operator in San Diego, California.
He served as Corporate Controller for YGYI from 2011 to
March 2013 and for Breach Security, a
developer of web application firewalls, from 2007 to 2010. Prior to
2007, Mr. Thompson was Divisional Controller for Mediaspan Group
and Chief Financial Officer of Triathlon Broadcasting Company.
To fill the vacancy left by Mr. Thompson's departure from YGYI's
Board of Directors, the Company appointed Daniel Dorsey to the Board of Directors.
The appointment of Mr. Dorsey, which is effective immediately,
means that the size of the Board will remain at five (5) members.
Mr. Dorsey will serve on the Audit Committee and his term as a
director will continue until such time as his successor is duly
elected and qualified, or until his earlier resignation or removal.
Mr. Dorsey is a licensed Certified Public Accountant with over 20
years of experience in finance, strategic planning and
operations.
About Youngevity International, Inc.
Youngevity International, Inc.
( NASDAQ : YGYI ), is a multi-channel lifestyle
company operating in 3 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 investor information, please visit YGYI.com. Be sure
to like us on Facebook and follow us on Twitter.
Safe Harbor Statement
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. In
some cases, forward-looking statements can be identified by
terminology such as "may," "should," "potential," "continue,"
"expects," "anticipates," "intends," "plans," "believes,"
"estimates," and similar expressions. These forward-looking
statements are based on management's expectations and assumptions
as of the date of this press release and are subject to a number of
risks and uncertainties, many of which are difficult to predict
that could cause actual results to differ materially from current
expectations and assumptions from those set forth or implied by any
forward-looking statements, and include statements regarding
expand the shareholder base of YGYI. Important factors that could
cause actual results to differ materially from current expectations
include, among others, our ability to expand the shareholder base
of YGYI, our ability to continue our coffee segment and hemp
segment growth, our ability to continue our international growth,
our ability to leverage our platform and global infrastructure to
drive organic growth, our ability to improve our profitability,
expand our liquidity, and strengthen our balance sheet, our ability
to file our Quarterly Report on Form 10-Q for the periods ended
March 31, 2020, June 30, 2020 and Annual Report on Form 10-K for
the year ended December 31, 2019 as
soon as possible to regain compliance with the NASDAQ requirements
and thereafter maintain compliance with the NASDAQ requirements,
the acceptance of the omni-direct approach by our customers, our
ability to expand our distribution, our ability to continue
our financial performance and the other factors discussed in our
Annual Report on Form 10-K for the year ended December 31, 2018 and our subsequent filings with
the SEC, including subsequent periodic reports on Forms 10-Q and
8-K. The information in this release is provided only as of the
date of this release, and we undertake no obligation to update any
forward-looking statements contained in this release on account of
new information, future events, or otherwise, except as required by
law.
Contacts:
Youngevity International, Inc.
Dave Briskie
President and Chief Financial Officer
1 800 982 3189 X6500
Investor Relations
YGYI Investor Relations
investors@ygyi.com
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SOURCE Youngevity International, Inc.