A few days ago I reported a problem at NHT Global (Natural Health Trends) due to the resignation of the CEO and COO.
Now this just came across the MLM Blog News desk:
DALLAS–(BUSINESS WIRE)–Natural Health Trends Corp. (NASDAQ NMS:BHIP), an international direct-selling company, announced today that it received a letter from The Nasdaq Stock Market stating that the Company is not in compliance with Marketplace Rules 4350(d)(2) and 4350(c)(3). Specifically, due to the resignation of Colin O’Brien and Terrence
M. Morris from the Board of Directors and, consequently, the Company’s
Audit and Compensation Committees, the Company’s Audit Committee is not
comprised of at least three independent directors and the Compensation
Committee is not composed of at least two independent directors.
On or before March 16, 2007, the Company is required to provide The
Nasdaq Stock Market the Company’s specific plan and timetable to achieve compliance with the Rules. The Company intends to timely submit a plan
for achieving compliance to The Nasdaq Stock Market.
NHT Global used to be called Lexxus International and they focus on personal care products.