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EX-99.1 CHARTER - PRESS RELEASE ISSUED BY JRJR33, INC. DATED MARCH 22, 2017 - JRjr33, Inc.jrjrpressrelease3-2117.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported):  March 17, 2017

 

JRjr33, INC.

(Exact name of registrant as specified in its charter)

 

 
         

Florida

 

Commission

 

98-0534701

(State or other jurisdiction

 

File No.: 001-36755

 

(IRS Employer

of incorporation or organization)

 

 

 

Identification No.)

 

2950 North Harwood Street, 22nd Floor, Dallas, Texas 75201

(Address of principal executive offices and zip code)

 

(469) 913-4115

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o             Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o             Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o             Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o             Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 


 

 


 

Item 3.01.  Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

 

On January 10, 2017, JRjr33, Inc. (the “Company”) received notification (the “Deficiency Letter”) from the NYSE MKT LLC (the “NYSE MKT”) that it was not in compliance with certain NYSE MKT continued listing standards relating to stockholders’ equity as of September 30, 2016. Specifically, the Deficiency Letter stated that the Company is not in compliance with Section 1003(a)(i) (requiring stockholders’ equity of $2.0 million or more if it has reported losses from continuing operations and/or net losses in two its three most recent fiscal years), Section 1003(a)(ii) (requiring stockholders’ equity of $4.0 million or more if it has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years); and Section 1003(a)(iii) (requiring stockholders’ equity of $6.0 million or more if it has reported losses from continuing operations and/or net losses in its five most recent fiscal years). The Deficiency Letter noted that the Company had a stockholders’ equity deficit of $(4,895,000) as of September 30, 2016, and has reported net losses in its five most recent fiscal years ended December 31, 2015.

 

Pursuant to the Deficiency Letter the Company was required to submit a plan to the NYSE MKT by February 9, 2017 advising of actions it has taken or will take to regain compliance with the continued listing standards by July 10, 2018. The Company submitted its plan on February 9, 2017 (the “Plan”).

 

On March 17, 2017, the NYSE MKT notified the Company that it has reviewed the Company’s Plan and determined to accept the Plan and grant a Plan period through July 10, 2018.  NYSE Regulation Staff will review the Company periodically for compliance with the initiatives outlined in the Plan.  If the Company is not in compliance with the continued listing standards by July 18, 2018 or if the Company does not make progress consistent within the Plan period, NYSE Regulation staff will initiate delisting proceedings as appropriate.

 

The Company’s common stock will continue to be listed on the NYSE MKT while it attempts to regain compliance with the listing standards noted, subject to the Company’s compliance with other continued listing requirements. The Company’s common stock will continue to trade under the symbol “JRJR,” but will have an added designation of “.BC” to indicate that the Company is not in compliance with the NYSE MKT’s listing standards. The NYSE MKT notification does not affect the Company’s business operations or its Securities and Exchange Commission reporting requirements and does not conflict with or cause an event of default under any of the Company’s material agreements.

 

The Company issued a press release on March 21, 2017, announcing that it had received the notice of continued noncompliance and acceptance of the Plan. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1.

 

Item 9.01 Financial Statements and Exhibits.

 
   

(d)

Exhibits

 

Exhibit 99.1.       Press release issued by JRjr33, Inc. dated March 22, 2017

 

 

 

 

 

 

 

 

 

 


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

  

 
     

 

JRjr33, Inc.

 

 

 

 

 

 

Date: March 22, 2017

By:

/s/ John P. Rochon

 

 

John P. Rochon

 

 

Chief Executive Officer and President

 

 

 

 

 

 


 

EXHIBIT INDEX

 

 
       

Exhibit No.

  

Description

99.1

 

  

Press release issued by JRjr33, Inc. dated March 22, 2017