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Share Name | Share Symbol | Market | Type |
---|---|---|---|
JRjr33 Inc (CE) | USOTC:JRJRQ | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.000001 | 0.00 | 01:00:00 |
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ý
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Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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For the quarterly period ended March 31, 2015
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or
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¨
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Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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For the transition period from to
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Florida
(State or other jurisdiction of
incorporation or organization)
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98-0534701
(I.R.S Employer
Identification No.)
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2950 North Harwood Street, 22nd Floor, Dallas, Texas
(Address of principal executive offices)
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75201
(Zip Code)
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Large accelerated filer
o
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Accelerated filer
x
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Non-accelerated filer
o
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Smaller reporting company
o
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(Do not check if a smaller reporting company)
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Page
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Explanatory Note
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PART I.
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Item 1.
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Item 2.
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Item 3.
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Item 4.
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PART II.
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Item 1.
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Item 1A.
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Item 2.
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Item 3.
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Item 4.
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Item 5.
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Item 6.
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(Unaudited)
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(Audited)
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||||
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March 31,
2015 |
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December 31,
2014 |
||||
(in thousands)
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(As Restated, See Note 2)
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||||
Assets
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|
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|
|
|
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Current assets:
|
|
|
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|
|
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Cash and cash equivalents
|
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$
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5,132
|
|
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$
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2,606
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Marketable securities, at fair value
|
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9,682
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|
|
991
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Accounts receivable, net
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3,902
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450
|
|
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Inventory, net
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20,239
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14,759
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Other current assets
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3,380
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|
|
2,482
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Total current assets
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42,335
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|
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21,288
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|
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Restricted cash
|
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3,000
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|
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—
|
|
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Sale leaseback security deposit
|
|
4,414
|
|
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4,414
|
|
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Property, plant and equipment, net
|
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8,774
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|
|
8,191
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|
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Leased property, net
|
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15,098
|
|
|
15,361
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|
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Goodwill
|
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5,364
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|
|
4,095
|
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Intangibles, net
|
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3,722
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|
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3,558
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Other assets
|
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342
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|
|
400
|
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Total assets
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$
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83,049
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|
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$
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57,307
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|
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||||
Liabilities and stockholders' equity
|
|
|
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|
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Current liabilities:
|
|
|
|
|
|
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Accounts payable
|
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$
|
14,355
|
|
|
$
|
8,541
|
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Related party payables
|
|
1,317
|
|
|
152
|
|
||
Accrued commissions
|
|
4,050
|
|
|
3,319
|
|
||
Accrued liabilities
|
|
5,976
|
|
|
4,612
|
|
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Deferred revenue
|
|
1,306
|
|
|
2,982
|
|
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Current portion of long-term debt
|
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905
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941
|
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Accrued taxes payable
|
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4,550
|
|
|
2,693
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Other current liabilities
|
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2,887
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|
|
1,412
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Total current liabilities
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35,346
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|
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24,652
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Deferred tax liability
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—
|
|
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167
|
|
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Long-term debt, net of current portion
|
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7,081
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|
|
4,316
|
|
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Lease liability, net of current portion
|
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15,774
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|
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15,774
|
|
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Other long-term liabilities
|
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2,320
|
|
|
3,415
|
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Total liabilities
|
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60,521
|
|
|
48,324
|
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Contingencies (Note 10)
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Stockholders' equity:
|
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|
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Preferred stock, par value $0.001 per share, 500,000 authorized
|
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—
|
|
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—
|
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Common stock, par value $0.0001 per share, 250,000,000 shares authorized; 34,367,095 and 27,599,012 shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively
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4
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|
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3
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Additional paid-in capital
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55,452
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|
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37,097
|
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Accumulated other comprehensive income
|
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301
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|
|
321
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Accumulated deficit
|
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(36,282
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)
|
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(32,159
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)
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Total stockholders' equity attributable to JRjr33, Inc.
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19,475
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5,262
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Stockholders' equity attributable to non-controlling interest
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3,053
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|
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3,721
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Total stockholders' equity
|
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22,528
|
|
|
8,983
|
|
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Total liabilities and stockholders' equity
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$
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83,049
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|
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$
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57,307
|
|
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Three Months Ended March 31,
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||||||
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2015
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2014
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||||
(in thousands, except share and per share data)
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(As Restated, See Note 2)
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Revenue
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$
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19,878
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|
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$
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26,671
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Program costs and discounts
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(3,251
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)
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(4,976
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)
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Net revenue
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16,627
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|
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21,695
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Costs of sales
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5,230
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|
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8,016
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Gross profit
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11,397
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13,679
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Commissions and incentives
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5,820
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6,973
|
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Gain on sale of assets
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(43
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)
|
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(266
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)
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Selling, general and administrative
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10,703
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|
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9,353
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Depreciation and amortization
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279
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|
|
269
|
|
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Share based compensation expense
|
|
(1,167
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)
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87
|
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Operating loss
|
|
(4,195
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)
|
|
(2,737
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)
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Loss (gain) on marketable securities
|
|
(192
|
)
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494
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Interest expense, net
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599
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|
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266
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Loss from operations before income tax provision
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|
(4,602
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)
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|
(3,497
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)
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Income tax provision
|
|
191
|
|
|
279
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Net loss
|
|
(4,793
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)
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|
(3,776
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)
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Net loss attributable to non-controlling interest
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670
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|
|
640
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Net loss attributable to JRjr33, Inc.
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$
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(4,123
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)
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$
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(3,136
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)
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Basic and diluted loss per share:
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|
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||||
Weighted average common shares outstanding
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29,668,069
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24,385,616
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Loss per common share attributable to common stockholders, basic and diluted
|
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$
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(0.14
|
)
|
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$
|
(0.13
|
)
|
|
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Three Months Ended March 31,
|
||||||
|
|
2015
|
|
2014
|
||||
(in thousands)
|
|
(As Restated, See Note 2)
|
|
|
||||
Net loss
|
|
$
|
(4,793
|
)
|
|
$
|
(3,776
|
)
|
Other comprehensive gain, net of tax:
|
|
|
|
|
||||
Unrealized gain (loss) on marketable securities
|
|
|
|
|
||||
Unrealized holding gain arising during the period
|
|
7
|
|
|
469
|
|
||
Reclassification of other comprehensive income included in net loss
|
|
(199
|
)
|
|
—
|
|
||
Foreign currency translation adjustment gain (loss)
|
|
174
|
|
|
(9
|
)
|
||
Other comprehensive gain (loss)
|
|
(18
|
)
|
|
460
|
|
||
Comprehensive loss
|
|
(4,811
|
)
|
|
(3,316
|
)
|
||
Comprehensive loss attributable to non-controlling interests
|
|
670
|
|
|
640
|
|
||
Comprehensive loss attributable to JRjr33, Inc.
|
|
$
|
(4,141
|
)
|
|
$
|
(2,676
|
)
|
|
|
Three Months Ended March 31,
|
||||||
|
|
2015
|
|
2014
|
||||
(in thousands)
|
|
(As Restated, See Note 2)
|
|
|
||||
Operating activities:
|
|
|
|
|
|
|
||
Net loss
|
|
$
|
(4,793
|
)
|
|
$
|
(3,776
|
)
|
Adjustments to reconcile net loss to net cash provided by (used in) operating activities net of effect of acquisitions
|
|
|
|
|
|
|
||
Depreciation and amortization
|
|
420
|
|
|
562
|
|
||
Loss (gain) on sale of marketable securities
|
|
(192
|
)
|
|
494
|
|
||
Interest expense
|
|
—
|
|
|
200
|
|
||
Share-based compensation
|
|
(1,167
|
)
|
|
87
|
|
||
Provision for doubtful accounts
|
|
11
|
|
|
63
|
|
||
Provision for obsolete inventory
|
|
—
|
|
|
41
|
|
||
Gain on sales of assets
|
|
(43
|
)
|
|
(266
|
)
|
||
Deferred income tax
|
|
34
|
|
|
45
|
|
||
Non-cash compensation
|
|
101
|
|
|
—
|
|
||
Stock issued for purchase of subsidiaries
|
|
—
|
|
|
484
|
|
||
Changes in certain assets and liabilities:
|
|
|
|
|
|
|||
Accounts receivable
|
|
(467
|
)
|
|
(269
|
)
|
||
Inventory
|
|
588
|
|
|
1,266
|
|
||
Other current assets
|
|
303
|
|
|
182
|
|
||
Accounts payable
|
|
725
|
|
|
(1,312
|
)
|
||
Related party payables, net
|
|
1,164
|
|
|
(132
|
)
|
||
Accrued commissions
|
|
734
|
|
|
636
|
|
||
Accrued liabilities
|
|
129
|
|
|
(343
|
)
|
||
Deferred revenue
|
|
(876
|
)
|
|
1,205
|
|
||
Accrued Taxes payable
|
|
150
|
|
|
342
|
|
||
Other liabilities
|
|
(500
|
)
|
|
(549
|
)
|
||
Net cash used in operating activities
|
|
(3,679
|
)
|
|
(1,040
|
)
|
||
Investing activities:
|
|
|
|
|
|
|
||
Capital expenditures
|
|
(316
|
)
|
|
(335
|
)
|
||
Proceeds from the sale of property, plant and equipment
|
|
28
|
|
|
1,334
|
|
||
Purchase of investments available for sale
|
|
(18,876
|
)
|
|
—
|
|
||
Sale of marketable securities
|
|
10,185
|
|
|
3,418
|
|
||
Cash held as collateral
|
|
(3,000
|
)
|
|
—
|
|
||
Acquisitions, net of cash purchased
|
|
(3,135
|
)
|
|
—
|
|
||
Net cash (used in) provided by investing activities
|
|
(15,114
|
)
|
|
4,417
|
|
||
Financing activities:
|
|
|
|
|
|
|
||
Net borrowings (payments) on long-term debt and revolving credit facility
|
|
2,978
|
|
|
(1,430
|
)
|
||
Payments on debt
|
|
(247
|
)
|
|
(614
|
)
|
||
Stock issuances
|
|
18,360
|
|
|
—
|
|
||
Net cash (used in) provided by financing activities
|
|
21,091
|
|
|
(2,044
|
)
|
||
Effect of exchange rate changes on cash
|
|
228
|
|
|
(10
|
)
|
||
Increase in cash and cash equivalents
|
|
2,526
|
|
|
1,323
|
|
||
Cash and cash equivalents at beginning of period
|
|
2,606
|
|
|
3,877
|
|
||
Cash and cash equivalents at end of period
|
|
$
|
5,132
|
|
|
$
|
5,200
|
|
Supplemental disclosure of cash flow information:
|
|
|
|
|
|
|
||
Cash paid during the period for:
|
|
|
|
|
|
|
||
Interest
|
|
$
|
595
|
|
|
$
|
65
|
|
Income taxes
|
|
—
|
|
|
122
|
|
•
|
The correction of errors related to the recognition of revenue, accounts receivable and deferred revenue. The Company did not have the adequate accounting procedures to appropriately recognize and record revenues, accounts receivable and deferred revenue appropriately during Fiscal 2015.
|
•
|
The correction of errors related to the appropriate recognition of share-based compensation expense. The Company did not appropriately account for certain share-based compensation plans, which required adjustments to the quarterly financial statements.
|
•
|
The correction of errors related to the appropriate recognition of commissions expense on a quarterly basis. The Company did not appropriately calculate commissions expense related to the sales on a quarterly basis, which required an adjustment to the quarterly financial statements.
|
•
|
The Company did not appropriately account for certain expenses attributable to acquisitions costs, but were incorrectly recorded as related party accounts receivable, which required an adjustment to the quarterly financial statements.
|
•
|
Correcting the classification of revenues, program costs and discounts and commissions expense for certain of the subsidiaries.
|
•
|
Other adjustments to correct for differences related to the recording accounts payable, interest expense, accrued commissions and accounts receivable write-offs.
|
|
|
March 31, 2015
|
||||||||||||||
(in thousands)
|
|
As Previously Reported
|
|
Restatement Adjustments
|
|
Reclassification Adjustments
|
|
As Restated
|
||||||||
Assets
|
|
|
|
|
|
|
|
|
|
|||||||
Current assets:
|
|
|
|
|
|
|
|
|
|
|||||||
Cash and cash equivalents
|
|
$
|
5,633
|
|
|
$
|
(501
|
)
|
|
$
|
—
|
|
|
$
|
5,132
|
|
Marketable securities, at fair value
|
|
9,682
|
|
|
—
|
|
|
—
|
|
|
9,682
|
|
||||
Accounts receivable, net
|
|
3,488
|
|
|
368
|
|
|
46
|
|
|
3,902
|
|
||||
Inventory, net
|
|
20,331
|
|
|
(93
|
)
|
|
1
|
|
|
20,239
|
|
||||
Other current assets
|
|
3,420
|
|
|
(112
|
)
|
|
72
|
|
|
3,380
|
|
||||
Total current assets
|
|
42,554
|
|
|
(338
|
)
|
|
119
|
|
|
42,335
|
|
||||
Restricted cash
|
|
3,000
|
|
|
—
|
|
|
—
|
|
|
3,000
|
|
||||
Sale leaseback security deposit
|
|
4,414
|
|
|
—
|
|
|
—
|
|
|
4,414
|
|
||||
Property, plant and equipment, net
|
|
8,775
|
|
|
—
|
|
|
(1
|
)
|
|
8,774
|
|
||||
Leased property, net
|
|
15,098
|
|
|
—
|
|
|
—
|
|
|
15,098
|
|
||||
Goodwill
|
|
5,367
|
|
|
(4
|
)
|
|
1
|
|
|
5,364
|
|
||||
Intangibles, net
|
|
3,510
|
|
|
213
|
|
|
(1
|
)
|
|
3,722
|
|
||||
Other assets
|
|
543
|
|
|
(85
|
)
|
|
(116
|
)
|
|
342
|
|
||||
Total assets
|
|
$
|
83,261
|
|
|
$
|
(214
|
)
|
|
$
|
2
|
|
|
$
|
83,049
|
|
|
|
|
|
|
|
|
|
|
||||||||
Liabilities and stockholders' equity
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Accounts payable
|
|
$
|
13,924
|
|
|
$
|
(655
|
)
|
|
$
|
1,086
|
|
|
$
|
14,355
|
|
Related party payables
|
|
531
|
|
|
761
|
|
|
25
|
|
|
1,317
|
|
||||
Line of credit
|
|
112
|
|
|
|
|
|
(112
|
)
|
|
—
|
|
||||
Accrued commissions
|
|
3,907
|
|
|
(457
|
)
|
|
600
|
|
|
4,050
|
|
||||
Accrued liabilities
|
|
—
|
|
|
213
|
|
|
5,763
|
|
|
5,976
|
|
||||
Deferred revenue
|
|
3,582
|
|
|
(2,322
|
)
|
|
46
|
|
|
1,306
|
|
||||
Current portion of long-term debt
|
|
905
|
|
|
—
|
|
|
—
|
|
|
905
|
|
||||
Accrued taxes payable
|
|
—
|
|
|
576
|
|
|
3,974
|
|
|
4,550
|
|
||||
Other current liabilities
|
|
12,889
|
|
|
816
|
|
|
(10,818
|
)
|
|
2,887
|
|
||||
Total current liabilities
|
|
35,850
|
|
|
(1,068
|
)
|
|
564
|
|
|
35,346
|
|
||||
Deferred tax liability
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Long-term debt, net of current portion
|
|
7,081
|
|
|
—
|
|
|
—
|
|
|
7,081
|
|
||||
Lease liability, net of current portion
|
|
15,800
|
|
|
(26
|
)
|
|
—
|
|
|
15,774
|
|
||||
Other long-term liabilities
|
|
1,905
|
|
|
977
|
|
|
(562
|
)
|
|
2,320
|
|
||||
Total liabilities
|
|
60,636
|
|
|
(117
|
)
|
|
2
|
|
|
60,521
|
|
||||
Commitments & contingencies (Note 9)
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Stockholders' equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Preferred stock, par value $0.001 per share, 500,000 authorized
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Common stock, par value $0.0001 per share, 250,000,000 shares authorized; 34,367,095 outstanding as of March 31, 2015
|
|
4
|
|
|
—
|
|
|
—
|
|
|
4
|
|
||||
Additional paid-in capital
|
|
55,452
|
|
|
—
|
|
|
—
|
|
|
55,452
|
|
||||
Accumulated other comprehensive income
|
|
637
|
|
|
(336
|
)
|
|
—
|
|
|
301
|
|
||||
Accumulated deficit
|
|
(37,024
|
)
|
|
742
|
|
|
—
|
|
|
(36,282
|
)
|
||||
Total stockholders' equity attributable to JRjr33, Inc.
|
|
19,069
|
|
|
406
|
|
|
—
|
|
|
19,475
|
|
||||
Stockholders' equity attributable to non-controlling interest
|
|
3,556
|
|
|
(503
|
)
|
|
—
|
|
|
3,053
|
|
||||
Total stockholders' equity
|
|
22,625
|
|
|
(97
|
)
|
|
—
|
|
|
22,528
|
|
||||
Total liabilities and stockholders' equity
|
|
$
|
83,261
|
|
|
$
|
(214
|
)
|
|
$
|
2
|
|
|
$
|
83,049
|
|
|
|
Three Months Ended March 31, 2015
|
||||||||||||||
(in thousands, except share and per share data)
|
|
As Previously Reported
|
|
Restatement Adjustments
|
|
Reclassification Adjustments
|
|
As Restated
|
||||||||
Revenue
|
|
$
|
19,219
|
|
|
$
|
511
|
|
|
$
|
148
|
|
|
$
|
19,878
|
|
Program costs and discounts
|
|
(2,161
|
)
|
|
(864
|
)
|
|
(226
|
)
|
|
(3,251
|
)
|
||||
Net revenue
|
|
17,058
|
|
|
(353
|
)
|
|
(78
|
)
|
|
16,627
|
|
||||
Costs of sales
|
|
5,411
|
|
|
(68
|
)
|
|
(113
|
)
|
|
5,230
|
|
||||
Gross profit
|
|
11,647
|
|
|
(285
|
)
|
|
35
|
|
|
11,397
|
|
||||
Commissions and incentives
|
|
5,865
|
|
|
32
|
|
|
(77
|
)
|
|
5,820
|
|
||||
Gain on sale of assets
|
|
(43
|
)
|
|
—
|
|
|
—
|
|
|
(43
|
)
|
||||
Selling, general and administrative
|
|
9,440
|
|
|
1,151
|
|
|
112
|
|
|
10,703
|
|
||||
Depreciation and amortization
|
|
618
|
|
|
(339
|
)
|
|
—
|
|
|
279
|
|
||||
Share based compensation expense
|
|
—
|
|
|
(1,167
|
)
|
|
—
|
|
|
(1,167
|
)
|
||||
Impairment of goodwill
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Operating loss
|
|
(4,233
|
)
|
|
38
|
|
|
—
|
|
|
(4,195
|
)
|
||||
Loss (gain) on sale of marketable securities
|
|
7
|
|
|
(199
|
)
|
|
—
|
|
|
(192
|
)
|
||||
Interest expense, net
|
|
597
|
|
|
2
|
|
|
—
|
|
|
599
|
|
||||
Loss from operations before income tax provision
|
|
(4,837
|
)
|
|
235
|
|
|
—
|
|
|
(4,602
|
)
|
||||
Income tax provision
|
|
195
|
|
|
(4
|
)
|
|
—
|
|
|
191
|
|
||||
Net income (loss)
|
|
(5,032
|
)
|
|
239
|
|
|
—
|
|
|
(4,793
|
)
|
||||
Net loss attributable to non-controlling interest
|
|
166
|
|
|
504
|
|
|
—
|
|
|
670
|
|
||||
Net income (loss) attributable to JRjr33, Inc.
|
|
$
|
(4,866
|
)
|
|
$
|
743
|
|
|
$
|
—
|
|
|
$
|
(4,123
|
)
|
Basic and diluted loss per share:
|
|
|
|
|
|
|
|
|
||||||||
Weighted average common shares outstanding
|
|
29,668,069
|
|
|
—
|
|
|
—
|
|
|
29,668,069
|
|
||||
Income (loss) per common share attributable to common stockholders, basic and diluted
|
|
$
|
(0.16
|
)
|
|
$
|
0.02
|
|
|
$
|
—
|
|
|
$
|
(0.14
|
)
|
|
|
Three Months Ended March 31, 2015
|
||||||||||||||
(in thousands)
|
|
As Previously Reported
|
|
Restatement Adjustments
|
|
Reclassification Adjustments
|
|
As Restated
|
||||||||
Net loss
|
|
$
|
(5,032
|
)
|
|
$
|
239
|
|
|
$
|
—
|
|
|
$
|
(4,793
|
)
|
Other comprehensive gain (loss), net of tax:
|
|
|
|
|
|
|
|
|
||||||||
Unrealized gain (loss) on marketable securities
|
|
|
|
|
|
|
|
|
||||||||
Unrealized holding gain arising during the period
|
|
17
|
|
|
(10
|
)
|
|
—
|
|
|
7
|
|
||||
Reclassification of other comprehensive income included in net loss
|
|
—
|
|
|
(199
|
)
|
|
—
|
|
|
(199
|
)
|
||||
Foreign currency translation adjustment gain (loss)
|
|
310
|
|
|
(136
|
)
|
|
—
|
|
|
174
|
|
||||
Other comprehensive gain (loss)
|
|
327
|
|
|
(345
|
)
|
|
—
|
|
|
(18
|
)
|
||||
Comprehensive loss
|
|
(4,705
|
)
|
|
(106
|
)
|
|
—
|
|
|
(4,811
|
)
|
||||
Comprehensive loss attributable to non-controlling interests
|
|
166
|
|
|
504
|
|
|
—
|
|
|
670
|
|
||||
Comprehensive gain (loss) attributable to JRjr33, Inc.
|
|
$
|
(4,539
|
)
|
|
$
|
398
|
|
|
$
|
—
|
|
|
$
|
(4,141
|
)
|
|
|
Three Months Ended March 31, 2015
|
||||||||||||||||||
(in thousands)
|
|
As Previously Reported
|
|
Prior Period Cash Flow Errors
(1)
|
|
Restatement Adjustments
|
|
Reclassification Adjustments
|
|
As Restated
|
||||||||||
Operating activities:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net income (loss)
|
|
$
|
(5,032
|
)
|
|
$
|
—
|
|
|
$
|
239
|
|
|
$
|
—
|
|
|
$
|
(4,793
|
)
|
Adjustments to reconcile net loss to net cash provided by (used in) operating activities net of effect of acquisitions
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Depreciation and amortization
|
|
629
|
|
|
3
|
|
|
(212
|
)
|
|
—
|
|
|
420
|
|
|||||
Loss (gain) on sale of marketable securities
|
|
7
|
|
|
—
|
|
|
(199
|
)
|
|
—
|
|
|
(192
|
)
|
|||||
Share-based compensation
|
|
—
|
|
|
—
|
|
|
(1,167
|
)
|
|
|
|
|
(1,167
|
)
|
|||||
Provision for doubtful accounts
|
|
(7
|
)
|
|
3
|
|
|
15
|
|
|
—
|
|
|
11
|
|
|||||
Provision for obsolete inventory
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Gain on sales of assets
|
|
(43
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(43
|
)
|
|||||
Deferred income tax
|
|
—
|
|
|
—
|
|
|
34
|
|
|
—
|
|
|
34
|
|
|||||
Non-cash compensation
|
|
—
|
|
|
—
|
|
|
101
|
|
|
—
|
|
|
101
|
|
|||||
Changes in certain assets and liabilities:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Accounts receivable
|
|
(21
|
)
|
|
94
|
|
|
(540
|
)
|
|
—
|
|
|
(467
|
)
|
|||||
Inventory
|
|
858
|
|
|
(363
|
)
|
|
93
|
|
|
—
|
|
|
588
|
|
|||||
Other current assets
|
|
210
|
|
|
80
|
|
|
13
|
|
|
—
|
|
|
303
|
|
|||||
Accounts payable
|
|
1,864
|
|
|
(1,646
|
)
|
|
507
|
|
|
—
|
|
|
725
|
|
|||||
Related party payables, net
|
|
404
|
|
|
(25
|
)
|
|
785
|
|
|
—
|
|
|
1,164
|
|
|||||
Accrued commissions
|
|
588
|
|
|
3
|
|
|
143
|
|
|
—
|
|
|
734
|
|
|||||
Accrued liabilities
|
|
—
|
|
|
—
|
|
|
129
|
|
|
—
|
|
|
129
|
|
|||||
Deferred revenue
|
|
600
|
|
|
(1,346
|
)
|
|
(130
|
)
|
|
—
|
|
|
(876
|
)
|
|||||
Taxes payable
|
|
—
|
|
|
—
|
|
|
150
|
|
|
—
|
|
|
150
|
|
|||||
Other liabilities
|
|
(1,670
|
)
|
|
1,648
|
|
|
(478
|
)
|
|
—
|
|
|
(500
|
)
|
|||||
Net cash used in operating activities
|
|
(1,613
|
)
|
|
(1,549
|
)
|
|
(517
|
)
|
|
—
|
|
|
(3,679
|
)
|
|||||
Investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Capital expenditures
|
|
(347
|
)
|
|
31
|
|
|
—
|
|
|
—
|
|
|
(316
|
)
|
|||||
Proceeds from the sale of property, plant and equipment
|
|
113
|
|
|
(85
|
)
|
|
—
|
|
|
—
|
|
|
28
|
|
|||||
Purchase of investments available for sale
|
|
(18,876
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(18,876
|
)
|
|||||
Sale of marketable securities
|
|
8,901
|
|
|
1,284
|
|
|
—
|
|
|
—
|
|
|
10,185
|
|
|||||
Cash held as collateral
|
|
(3,000
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3,000
|
)
|
|||||
Acquisitions, net of cash purchased
|
|
(3,567
|
)
|
|
432
|
|
|
—
|
|
|
—
|
|
|
(3,135
|
)
|
|||||
Net cash provided by (used in) investing activities
|
|
(16,776
|
)
|
|
1,662
|
|
|
—
|
|
|
—
|
|
|
(15,114
|
)
|
|||||
Financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Net borrowings (payments) on long-term debt and revolving credit facility
|
|
2,984
|
|
|
(6
|
)
|
|
—
|
|
|
—
|
|
|
2,978
|
|
|||||
Payments on debt
|
|
(247
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(247
|
)
|
|||||
Stock issuances
|
|
18,369
|
|
|
(9
|
)
|
|
—
|
|
|
—
|
|
|
18,360
|
|
|||||
Net cash provided by (used in) financing activities
|
|
21,106
|
|
|
(15
|
)
|
|
—
|
|
|
—
|
|
|
21,091
|
|
|||||
Effect of exchange rate changes on cash
|
|
310
|
|
|
(98
|
)
|
|
16
|
|
|
—
|
|
|
228
|
|
|||||
Increase in cash and cash equivalents
|
|
3,027
|
|
|
—
|
|
|
(501
|
)
|
|
—
|
|
|
2,526
|
|
|||||
Cash and cash equivalents at beginning of period
|
|
2,606
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,606
|
|
|||||
Cash and cash equivalents at end of period
|
|
$
|
5,633
|
|
|
$
|
—
|
|
|
$
|
(501
|
)
|
|
$
|
—
|
|
|
$
|
5,132
|
|
Supplemental disclosure of cash flow information:
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Cash paid during the period for:
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Interest
|
|
$
|
595
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
595
|
|
Income taxes
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
(in thousand)
|
|
Kleeneze
|
||
Assets
|
|
|
|
|
Current assets:
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
1,964
|
|
Accounts receivable
|
|
2,986
|
|
|
Inventory
|
|
6,283
|
|
|
Other current assets
|
|
931
|
|
|
Total current assets
|
|
12,164
|
|
|
Property, plant and equipment
|
|
619
|
|
|
Goodwill
|
|
1,347
|
|
|
Total assets
|
|
$
|
14,130
|
|
|
|
|
|
|
Liabilities and stockholders’ equity
|
|
|
|
|
Current liabilities:
|
|
|
|
|
Accounts payable-trade
|
|
$
|
3,635
|
|
Other current liabilities
|
|
5,395
|
|
|
Total current liabilities
|
|
9,030
|
|
|
Other long-term liabilities
|
|
—
|
|
|
Total liabilities
|
|
9,030
|
|
|
Stockholders’ equity
|
|
5,100
|
|
|
Total liabilities and stockholders’ equity
|
|
$
|
14,130
|
|
|
|
|
|
|
|
Pro Forma
|
|
|
|
Pro Forma
|
||||||||
|
|
JRJR
|
|
Kleeneze
|
|
Adjustments
|
|
Note
|
|
JRJR
|
||||||||
Revenue
|
|
$
|
19,878
|
|
|
$
|
12,812
|
|
|
$
|
—
|
|
|
|
|
$
|
32,690
|
|
Program costs and discounts
|
|
(3,251
|
)
|
|
(2,971
|
)
|
|
—
|
|
|
|
|
(6,222
|
)
|
||||
Net revenue
|
|
16,627
|
|
|
9,841
|
|
|
—
|
|
|
|
|
26,468
|
|
||||
Costs of sales
|
|
5,230
|
|
|
5,054
|
|
|
—
|
|
|
|
|
10,284
|
|
||||
Gross profit
|
|
11,397
|
|
|
4,787
|
|
|
—
|
|
|
|
|
16,184
|
|
||||
Commissions and incentives
|
|
5,820
|
|
|
1,941
|
|
|
—
|
|
|
|
|
7,761
|
|
||||
Gain on sale of assets
|
|
(43
|
)
|
|
—
|
|
|
—
|
|
|
|
|
(43
|
)
|
||||
Selling, general and administrative
|
|
10,703
|
|
|
3,132
|
|
|
(113
|
)
|
|
A
|
|
13,722
|
|
||||
Depreciation and amortization
|
|
279
|
|
|
—
|
|
|
—
|
|
|
|
|
279
|
|
||||
Share based compensation expense
|
|
(1,167
|
)
|
|
—
|
|
|
—
|
|
|
|
|
(1,167
|
)
|
||||
Operating loss
|
|
(4,195
|
)
|
|
(286
|
)
|
|
113
|
|
|
|
|
(4,368
|
)
|
||||
Loss (gain) on marketable securities
|
|
(192
|
)
|
|
—
|
|
|
—
|
|
|
|
|
(192
|
)
|
||||
Interest expense, net
|
|
599
|
|
|
(106
|
)
|
|
—
|
|
|
|
|
493
|
|
||||
Loss from operations before income tax provision
|
|
(4,602
|
)
|
|
(180
|
)
|
|
113
|
|
|
|
|
(4,669
|
)
|
||||
Income tax provision
|
|
191
|
|
|
—
|
|
|
—
|
|
|
|
|
191
|
|
||||
Loss before extraordinary item
|
|
(4,793
|
)
|
|
(180
|
)
|
|
113
|
|
|
|
|
(4,860
|
)
|
||||
Extraordinary item, net of tax
|
|
—
|
|
|
33,638
|
|
|
(33,638
|
)
|
|
B
|
|
—
|
|
||||
Net income (loss)
|
|
(4,793
|
)
|
|
(33,818
|
)
|
|
33,751
|
|
|
|
|
(4,860
|
)
|
||||
Net loss attributable to non-controlling interest
|
|
670
|
|
|
—
|
|
|
—
|
|
|
|
|
670
|
|
||||
Net income (loss) attributable to JRjr33, Inc.
|
|
$
|
(4,123
|
)
|
|
$
|
(33,818
|
)
|
|
$
|
33,751
|
|
|
|
|
$
|
(4,190
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic and diluted loss per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Weighted average common shares outstanding
|
|
29,668,069
|
|
|
29,668,069
|
|
|
29,668,069
|
|
|
|
|
29,668,069
|
|
||||
Gain (loss) per common share attributable to common stockholders, basic and diluted
|
|
$
|
(0.14
|
)
|
|
$
|
(1.14
|
)
|
|
$
|
1.14
|
|
|
|
|
$
|
(0.14
|
)
|
A.
|
Transaction fees related to the acquisition of Kleeneze were removed in the pro forma adjustments.
|
B.
|
Losses were incurred as a result of the write down of intercompany receivables that were forgiven prior to and in accordance with the transaction. As these losses were direct and one-time events related specifically to the acquisition, we have excluded these items from the pro forma income statement shown below.
|
|
|
March 31,
2015 |
|
December 31,
2014 |
||||
Raw material and supplies
|
|
$
|
3,088
|
|
|
$
|
3,052
|
|
Work in process
|
|
484
|
|
|
931
|
|
||
Finished goods
|
|
20,930
|
|
|
14,852
|
|
||
|
|
24,502
|
|
|
18,835
|
|
||
Inventory reserve
|
|
(4,263
|
)
|
|
(4,076
|
)
|
||
Inventory, net
|
|
$
|
20,239
|
|
|
$
|
14,759
|
|
|
|
March 31,
2015 |
|
December 31,
2014 |
||||
Land and improvements
|
|
$
|
498
|
|
|
$
|
699
|
|
Buildings and improvements
|
|
6,423
|
|
|
6,351
|
|
||
Equipment
|
|
4,010
|
|
|
2,978
|
|
||
Construction in progress
|
|
—
|
|
|
10
|
|
||
|
|
10,931
|
|
|
10,038
|
|
||
Less accumulated depreciation and amortization
|
|
(2,157
|
)
|
|
(1,847
|
)
|
||
Property, plant and equipment, net
|
|
$
|
8,774
|
|
|
$
|
8,191
|
|
Description
|
|
Interest
rate |
|
March 31,
2015 |
|
December 31, 2014
|
|||||
Senior secured debt – HSBC Bank PLC
|
|
1.10
|
%
|
|
$
|
2,977
|
|
|
$
|
—
|
|
Promissory note—Payable to Former Shareholder of TLC
|
|
2.63
|
%
|
|
3,281
|
|
|
3,373
|
|
||
Promissory note—Lega Enterprises, LLC (formerly Agel Enterprises, LLC)
|
|
5.00
|
%
|
|
1,261
|
|
|
1,367
|
|
||
Other miscellaneous notes
|
|
4.00
|
%
|
|
467
|
|
|
516
|
|
||
Total debt
|
|
|
|
|
7,986
|
|
|
5,256
|
|
||
Less current maturities
|
|
|
|
|
(905
|
)
|
|
(940
|
)
|
||
Long-term debt
|
|
|
|
|
$
|
7,081
|
|
|
$
|
4,316
|
|
|
|
Foreign
Currency
Translation
|
|
Unrealized Gain
(Loss) on
Available-for-
Sale Securities
|
|
Total
Accumulated
Other
Comprehensive
Income (Loss)
|
||||||
Balance at December 31, 2014
|
|
$
|
128
|
|
|
$
|
193
|
|
|
$
|
321
|
|
Other comprehensive income before reclassifications
|
|
174
|
|
|
7
|
|
|
181
|
|
|||
Amount reclassified from AOCI
|
|
—
|
|
|
(199
|
)
|
|
(199
|
)
|
|||
Net other comprehensive income at March 31, 2015
|
|
$
|
300
|
|
|
$
|
1
|
|
|
$
|
301
|
|
Components of AOCI
|
Amounts
reclassified
from AOCI
|
||
Realized gain/(loss) on sale of marketable securities
|
$
|
199
|
|
Income tax (expense) benefit
|
0
|
|
|
Net of income taxes
|
$
|
199
|
|
|
|
March 31,
2015
|
|
March 31,
2014
|
||||
Gourmet Food Products
|
|
$
|
2,545
|
|
|
$
|
963
|
|
Home Décor
|
|
10,171
|
|
|
15,021
|
|
||
Nutritionals and Wellness
|
|
6,777
|
|
|
10,202
|
|
||
Publishing & Printing
|
|
233
|
|
|
294
|
|
||
Other
|
|
152
|
|
|
191
|
|
Business
|
|
Date of
Acquisition
|
|
Number of
Countries with
Sales Presence
|
|
Product Categories
|
The Longaberger Company
|
|
March 18, 2013
|
|
2
|
|
Home Décor
|
Your Inspiration at Home
|
|
August 22, 2013
|
|
3
|
|
Gourmet Foods and Spices
|
Project Home
|
|
October 1, 2013
|
|
1
|
|
Home Improvement and Home Security
|
Agel
|
|
October 22, 2013
|
|
40
|
|
Nutritional Supplements and Skin Care
|
My Secret Kitchen
|
|
December 20, 2013
|
|
1
|
|
Gourmet Foods and Spices
|
Paperly
|
|
December 31, 2013
|
|
1
|
|
Stationery
|
Uppercase Living
|
|
March 13, 2014
|
|
2
|
|
Home Décor
|
Kleeneze
|
|
March 24, 2015
|
|
2
|
|
Home Décor and Cleaning
|
|
|
Three Months Ended March 31,
|
||||||
|
|
2015
|
|
2014
|
||||
(in thousands)
|
|
(restated)
|
|
|
||||
Revenue
|
|
$
|
19,878
|
|
|
$
|
26,671
|
|
Program costs and discounts
|
|
(3,251
|
)
|
|
(4,976
|
)
|
||
Net revenue
|
|
16,627
|
|
|
21,695
|
|
||
Costs of sales
|
|
5,230
|
|
|
8,016
|
|
||
Gross profit
|
|
11,397
|
|
|
13,679
|
|
||
Commissions and incentives
|
|
5,820
|
|
|
6,973
|
|
||
Gain on sale of assets
|
|
(43
|
)
|
|
(266
|
)
|
||
Selling, general and administrative
|
|
10,703
|
|
|
9,353
|
|
||
Depreciation and amortization
|
|
279
|
|
|
269
|
|
||
Share based compensation expense
|
|
$
|
(1,167
|
)
|
|
$
|
87
|
|
Operating loss
|
|
$
|
(4,195
|
)
|
|
$
|
(2,737
|
)
|
|
|
Three Months Ended
|
||||||
|
|
March 31, 2015
|
|
March 31, 2014
|
||||
Net loss
|
|
$
|
(4,793
|
)
|
|
$
|
(3,776
|
)
|
Interest, net
|
|
599
|
|
|
266
|
|
||
Income tax expense
|
|
191
|
|
|
279
|
|
||
Depreciation and amortization
|
|
420
|
|
|
518
|
|
||
EBITDA (losses)
|
|
(3,583
|
)
|
|
(2,713
|
)
|
||
One-time capital market expense
|
|
374
|
|
|
—
|
|
||
One-time M&A expense
|
|
115
|
|
|
32
|
|
||
M&A infrastructure expense
|
|
529
|
|
|
1,183
|
|
||
Adjusted EBITDA (losses)
|
|
$
|
(2,565
|
)
|
|
$
|
(1,498
|
)
|
•
|
Adjusted EBITDA does not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments;
|
•
|
Adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs;
|
•
|
Adjusted EBITDA does not consider the potentially dilutive impact of share-based compensation;
|
•
|
Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements;
|
•
|
Adjusted EBITDA does not reflect acquisition-related costs; and
|
•
|
Other companies, including companies in our own industry, may calculate Adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure.
|
•
|
Overall Control Environment
|
•
|
Sufficient Accounting Personnel
|
◦
|
Management estimates were not performed with the structure and rigor necessary to result in quality estimate that need for fairly presented financial information.
|
◦
|
Management missed a required Form 8-K/A filing requirement related to the acquisition of Kleeneze. Subsequently, the filing was made 8 months later.
|
◦
|
Management has made significant adjustments for material errors resulting from the review of the quarterly financial statements.
|
◦
|
Management has made significant adjustments for material errors resulting from the audit of the annual financial statements.
|
◦
|
Management has made significant disclosure remediation and adjustments to the financial statements resulting from the quarterly review and annual audits.
|
◦
|
The Company has incurred substantial delays in completing its audit and filing with the SEC of its 2015 Form 10-K, this Quarterly Report, and its June Form 10-Q.
|
◦
|
The Company has incurred breaches to covenants to its debt agreements due to the delays in missing its filing requirements.
|
•
|
Consolidation Process
|
•
|
Account Reconciliation
|
•
|
Deferred Revenue and Revenue
|
•
|
Inventory Management
|
•
|
Journal Entry Support
|
•
|
Complex Accounting Issues
|
•
|
Segregation of Duties
|
•
|
IT System Conversion Controls
|
•
|
IT Control Environment
|
•
|
assimilating Kleeneze’s business operations, products and personnel with our existing operations, products and personnel;
|
•
|
estimating the capital, personnel and equipment required for Kleeneze’s business based on the historical experience of management;
|
•
|
minimizing potential adverse effects on existing business relationships with other suppliers and customers;
|
•
|
successfully developing and marketing Kleeneze’s products and services;
|
•
|
entering a market in which we have limited prior experience; and
|
•
|
coordinating our efforts throughout various distant localities and time zones, such as the United Kingdom where Kleeneze is based.
|
•
|
interest costs and debt service requirements for any debt incurred in connection with an acquisition or new business venture; and
|
•
|
any issuance of securities in connection with an acquisition or other strategic transaction which dilutes the current holders of our common stock.
|
•
|
assimilating the acquired business’ operations products and personnel with our existing operations, products and personnel;
|
•
|
estimating the capital, personnel and equipment required for the acquired businesses based on the historical experience of management with the businesses they are familiar with;
|
•
|
minimizing potential adverse effects on existing business relationships with other suppliers and customers;
|
•
|
successfully developing and marketing the new products and services;
|
•
|
entering markets in which we have limited or no prior experience; and
|
•
|
coordinating our efforts throughout various distant localities and time zones, such as Italy, the United Kingdom and Australia, currently.
|
•
|
on-going motivation of our independent sales representatives;
|
•
|
general economic conditions;
|
•
|
significant changes in the amount of commissions paid;
|
•
|
public perception and acceptance of the industry, our business and our products;
|
•
|
our ability to provide proprietary quality-driven products that the market demands; and
|
•
|
competition in recruiting and retaining independent sales representatives.
|
•
|
address changing market dynamics;
|
•
|
provide incentives to independent sales representatives that are intended to help grow our business;
|
•
|
conform to local regulations; and
|
•
|
address other business needs.
|
•
|
the safety and quality of our products, components and ingredients, as applicable;
|
•
|
the safety and quality of similar products, components and ingredients, as applicable, distributed by other companies’ representatives;
|
•
|
our marketing program; and
|
•
|
the business of direct-to-consumer companies generally.
|
•
|
the possibility that a foreign government might ban or severely restrict our business method of direct selling, or that local civil unrest, political instability or changes in diplomatic or trade relationships might disrupt our operations in an international market;
|
•
|
the lack of well-established or reliable legal systems in certain areas where we operate;
|
•
|
the presence of high inflation in the economies of international markets in which we operate;
|
•
|
the possibility that a government authority might impose legal, tax or other financial burdens on us or our sales force, due, for example, to the structure of our operations in various markets;
|
•
|
the possibility that a government authority might challenge the status of our sales force as independent contractors or impose employment or social taxes on our sales force; and
|
•
|
the possibility that governments may impose currency remittance restrictions limiting our ability to repatriate cash.
|
•
|
the issuance of new equity securities, including issuances of preferred stock;
|
•
|
the introduction of new products or services by us or our competitors;
|
•
|
the acquisition of new direct selling businesses;
|
•
|
changes in interest rates;
|
•
|
significant dilution caused by the anti-dilutive clauses in our financial agreements;
|
•
|
competitive developments, including announcements by competitors of new products or services or significant contracts, acquisitions, strategic partnerships, joint ventures or capital commitments;
|
•
|
variations in quarterly operating results;
|
•
|
change in financial estimates by securities analysts;
|
•
|
a limited amount of news and analyst coverage for our company;
|
•
|
the depth and liquidity of the market for our shares of common stock;
|
•
|
sales of large blocks of our common stock, including sales by Rochon Capital, any executive officers or directors appointed in the future, or by other significant shareholders;
|
•
|
investor perceptions of our company and the direct selling segment generally; and
|
•
|
general economic and other national and international conditions.
|
Exhibit No.
|
|
Description
|
|
|
|
4.1
|
|
Form of Warrant Issued to Investors (incorporated by reference to Exhibit 4.1 of our Current Report on Form 8-K (File No. 001-36755) filed with the Commission on March 2, 2015)
|
|
|
|
4.2
|
|
Form of Representative’s Warrant Agreement (incorporated by reference to Exhibit 4.2 of our Current Report on Form 8-K (File No. 001-36755) filed with the Commission on March 2, 2015)
|
|
|
|
31.1
|
|
Certification pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934.**
|
|
|
|
31.2
|
|
Certification pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934.**
|
|
|
|
32.1
|
|
Certification pursuant to 18 U.S.C. Section 1350.**
|
|
|
|
32.2
|
|
Certification pursuant to 18 U.S.C. Section 1350.**
|
|
|
|
101.INS
|
|
Instance Document.**
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document.**
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document.**
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document.**
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document.**
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document.**
|
|
|
JRjr33, Inc.
|
|
|
|
(Registrant)
|
|
|
|
|
|
Date:
|
October 13, 2016
|
By:
|
/s/ John P. Rochon
|
|
|
|
|
|
|
|
John P. Rochon
|
|
|
|
Chief Executive Officer, President and Chairman
|
|
|
|
(Principal Executive Officer)
|
|
|
|
|
Date:
|
October 13, 2016
|
By:
|
/s/ Christopher L. Brooks
|
|
|
|
|
|
|
|
Christopher L. Brooks
|
|
|
|
Chief Financial Officer
|
|
|
|
(Principal Financial Officer and
|
|
|
|
Principal Accounting Officer)
|
Exhibit No.
|
|
Description
|
|
|
|
4.1
|
|
Form of Warrant Issued to Investors (incorporated by reference to Exhibit 4.1 of our Current Report on Form 8-K (File No. 001-36755) filed with the Commission on March 2, 2015)
|
|
|
|
4.2
|
|
Form of Representative’s Warrant Agreement (incorporated by reference to Exhibit 4.2 of our Current Report on Form 8-K (File No. 001-36755) filed with the Commission on March 2, 2015)
|
|
|
|
31.1
|
|
Certification pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934.**
|
|
|
|
31.2
|
|
Certification pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934.**
|
|
|
|
32.1
|
|
Certification pursuant to 18 U.S.C. Section 1350.**
|
|
|
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32.2
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Certification pursuant to 18 U.S.C. Section 1350.**
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101.INS
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Instance Document.**
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|
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101.SCH
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|
XBRL Taxonomy Extension Schema Document.**
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101.CAL
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|
XBRL Taxonomy Extension Calculation Linkbase Document.**
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101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document.**
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101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document.**
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|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document.**
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1 Year JRjr33 (CE) Chart |
1 Month JRjr33 (CE) Chart |
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