Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an


 



On  March 13, 2019,
Youngevity International, Inc. (the “Company”) issued
to investors the second tranche of Secured Promissory Notes dated
March 13, 2019

in the aggregate  principal amount of
$540,000

 (the

Notes

”),
that had a maturity date of March 13, 2021 (the

Maturity
Date

”). The Notes provide
for an interest rate of six percent (6%).

Pursuant to a
Security Agreement, dated March 13, 2019, entered into by the
Company with the several holders of the 6% Notes, the 6% Notes are
secured by a first priority lien granted by the Company on all the
shares of its subsidiary Khrysos Industries, Inc , a wholly owned
subsidiary of the Company which security interest is subordinate to
the security inter est of Crestmark Bank in all of the assets of the
Company and pari passu with rights of certain holders of the
Company’s notes issued in 2014, of which the Company has
settled all the 2014 notes at maturity.  Upon the occurrence
of an Event of Default, as defined in the Notes, all unpaid
principal amount together with accrued interest is immediately due
and payable and the interest rate payable on the Notes increases to
eighteen percent (18%). In addition, upon and Event of Default, the
purchasers may exercise their rights with respect to the
collateral.


 



The
Company did not make the payment due upon the Maturity Date of
these Notes and is in negotiations regarding a
forbearance.


 



 




 






 





 






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 hereunto duly authorized.



 






 





YOUNGEVITY
INTERNATIONAL, INC.





 




 






Date:
March 16, 2021





By:

/s/ William
Thompson 

                         





 





Name:
William Thompson





 





Title:
Chief Financial Officer






  



 



 



 



 





 







makes a similar move, sign up!

Other recent filings from the company include the following:

Youngevity International, Inc. Announces Declaration Of Monthly Dividend For The 4Th Quarter 2021 For Series "D" Cumulative Redeemable Perpetual Preferred Stock - Oct. 13, 2021

Auto Refresh

Feedback