180 Life Sciences Corp. Regains Compliance with Nasdaq's Minimum Stockholders' Equity Rule and Expands into the Global iGaming Sector
180 Life Sciences Corp. (NASDAQ:ATNF) has regained compliance with Nasdaq's minimum stockholders' equity rule and announced a strategic shift towards the global iGaming sector. The company has acquired a leading iGaming platform technology, incorporating blockchain and digital payment solutions. This move positions 180 to capitalize on the rapidly growing iGaming market, projected to reach $160 billion by 2026.
The company's platform will accept both cryptocurrency and fiat currency, offering flexibility to players. 180 expects to launch the platform in the first quarter of 2025. While focusing on this new venture, the company will continue to advance its legacy biotechnology programs. However, 180 remains out of compliance with Nasdaq's audit committee requirements and is seeking qualified independent directors to address this issue.
180 Life Sciences Corp. (NASDAQ:ATNF) ha ripreso la conformità con la regola del Nasdaq riguardante il capitale minimo degli azionisti e ha annunciato un cambiamento strategico verso il settore globale dell'iGaming. La società ha acquisito una tecnologia di piattaforma iGaming leader, incorporando soluzioni blockchain e di pagamento digitale. Questa mossa posiziona 180 per capitalizzare il mercato dell'iGaming in rapida crescita, previsto per raggiungere $160 miliardi entro il 2026.
La piattaforma della società accetterà sia criptovalute che valute fiat, offrendo flessibilità ai giocatori. 180 prevede di lanciare la piattaforma nel primo trimestre del 2025. Mentre si concentra su questa nuova impresa, la società continuerà a sviluppare i suoi programmi biotecnologici storici. Tuttavia, 180 rimane non conforme ai requisiti del comitato di revisione del Nasdaq e sta cercando direttori indipendenti qualificati per affrontare questa questione.
180 Life Sciences Corp. (NASDAQ:ATNF) ha recuperado la conformidad con la regla del Nasdaq sobre el capital mínimo de los accionistas y ha anunciado un cambio estratégico hacia el sector global de iGaming. La compañía ha adquirido una tecnología de plataforma iGaming líder, incorporando soluciones de blockchain y de pago digital. Este movimiento posiciona a 180 para capitalizar el mercado de iGaming, que se espera que alcance $160 mil millones para 2026.
La plataforma de la compañía aceptará tanto criptomonedas como monedas fiat, ofreciendo flexibilidad a los jugadores. 180 espera lanzar la plataforma en el primer trimestre de 2025. Mientras se concentra en esta nueva aventura, la compañía continuará avanzando en sus programas históricos de biotecnología. Sin embargo, 180 sigue sin cumplir con los requisitos del comité de auditoría del Nasdaq y está buscando directores independientes calificados para abordar este asunto.
180 Life Sciences Corp. (NASDAQ:ATNF)는 나스닥의 최소 주주 자본 규정을 준수하게 되었으며, 글로벌 iGaming 섹터로의 전략적 전환을 발표했습니다. 이 회사는 블록체인 및 디지털 결제 솔루션을 통합한 선도적인 iGaming 플랫폼 기술을 인수했습니다. 이 움직임은 180이 빠르게 성장하는 iGaming 시장에서 이익을 얻을 수 있는 위치에 두며, 이 시장은 2026년까지 $1600억에 이를 것으로 예상됩니다.
회사의 플랫폼은 암호화폐와 법정 화폐를 모두 수용하여 플레이어에게 유연성을 제공합니다. 180은 2025년 첫 분기에 플랫폼을 출시할 계획입니다. 이 새로운 사업에 집중하는 동안, 회사는 기존의 생명공학 프로그램을 계속 진행할 것입니다. 그러나 180은 여전히 나스닥의 감사 위원회 요구 사항을 준수하지 않고 있으며, 이 문제를 해결하기 위해 자격 있는 독립 이사를 찾고 있습니다.
180 Life Sciences Corp. (NASDAQ:ATNF) a retrouvé sa conformité avec la règle du Nasdaq concernant le capital minimum des actionnaires et a annoncé un changement stratégique vers le secteur mondial de l'iGaming. La société a acquis une technologie de plateforme iGaming leader, intégrant des solutions de blockchain et de paiement numérique. Ce mouvement positionne 180 pour tirer parti du marché de l'iGaming en pleine expansion, qui devrait atteindre 160 milliards de dollars d'ici 2026.
La plateforme de l'entreprise acceptera à la fois des cryptomonnaies et des devises fiat, offrant ainsi une flexibilité aux joueurs. 180 s'attend à lancer la plateforme au premier trimestre 2025. Tout en se concentrant sur cette nouvelle entreprise, la société continuera à faire avancer ses programmes biotechnologiques historiques. Cependant, 180 reste non conforme aux exigences du comité d'audit du Nasdaq et recherche des administrateurs indépendants qualifiés pour résoudre ce problème.
180 Life Sciences Corp. (NASDAQ:ATNF) hat die Einhaltung der Mindestanforderungen an das Eigenkapital der Nasdaq wiedererlangt und eine strategische Wendung in Richtung globales iGaming-Segment bekannt gegeben. Das Unternehmen hat eine führende iGaming-Plattformtechnologie erworben, die Blockchain- und digitale Zahlungslösungen integriert. Dieser Schritt positioniert 180, um von dem schnell wachsenden iGaming-Markt zu profitieren, der voraussichtlich bis 2026 160 Milliarden US-Dollar erreichen wird.
Die Plattform des Unternehmens wird sowohl Kryptowährungen als auch Fiat-Währungen akzeptieren und bietet den Spielern Flexibilität. 180 plant, die Plattform im ersten Quartal 2025 einzuführen. Während sie sich auf dieses neue Unternehmen konzentriert, wird die Firma weiterhin ihre etablierten Biotechnologie-Programme vorantreiben. Allerdings bleibt 180 nicht konform mit den Anforderungen des Prüfungsausschusses der Nasdaq und sucht qualifizierte unabhängige Direktoren, um dieses Problem anzugehen.
- Regained compliance with Nasdaq's minimum stockholders' equity rule
- Strategic shift towards the rapidly growing global iGaming sector
- Acquired leading iGaming platform technology with blockchain integration
- Platform will accept both cryptocurrency and fiat currency
- Expected platform launch in Q1 2025
- Targeting a market projected to reach $160 billion by 2026
- Remains out of compliance with Nasdaq's audit committee requirements
- Risk of delisting if company falls out of compliance with minimum equity rule within one year
- Shift from biotechnology to iGaming represents a significant change in business model
Insights
The announcement of 180 Life Sciences regaining Nasdaq compliance and pivoting to iGaming represents a significant shift for the company. Regaining compliance removes an immediate threat of delisting, providing stability for investors. However, the company remains non-compliant with audit committee requirements, which poses ongoing risk.
The strategic pivot to iGaming is a bold move, entering a high-growth market projected to reach
Investors should note:
- Potential for rapid revenue growth in the iGaming sector
- Risks associated with regulatory challenges in different jurisdictions
- Execution risks in transitioning from biotech to gaming
- Competitive landscape in a fast-evolving market
180 Life Sciences' acquisition of a blockchain-enabled iGaming platform is technologically significant. Blockchain integration addresses critical industry pain points:
- Enhanced security and transparency in transactions
- Improved trust through verifiable fairness
- Efficient cross-border payments and reduced fees
The platform's ability to accept both cryptocurrency and fiat currency is a strategic advantage, potentially broadening the user base and facilitating expansion into diverse markets. The incorporation of AI for personalized gaming experiences aligns with industry trends towards more engaging, tailored content.
However, the success of this pivot will depend on:
- The quality and user experience of the "front-end" interface
- Successful integration of external games
- Obtaining necessary licenses in target jurisdictions
PALO ALTO, CA / ACCESSWIRE / October 9, 2024 / 180 Life Sciences Corp. (NASDAQ:ATNF) (the "Company" or "180"), is pleased to announce that it has received confirmation from Nasdaq that the Company has officially regained compliance with Nasdaq Listing Rule 5550(b)(1), which requires a minimum stockholders' equity of
As announced on October 3, 2024, 180 will be shifting its strategic focus towards the rapidly growing global iGaming sector. This transition represents a new chapter for the Company as it seeks to capitalize on significant opportunities in the expanding digital gaming market.
"We are thrilled to confirm that our recent acquisition of a leading iGaming platform technology is expected to allow us to rapidly pivot into this high-growth sector," said Blair Jordan, Interim CEO, who continued, "We believe that this move places 180 at the forefront of technological innovation in the iGaming space, enabling us to be in a position to offer state-of-the-art gaming solutions in the near future and capitalize on what we believe is the tremendous market potential ahead. Our goal is to establish ourselves as a key player in this dynamic industry by leveraging our platform which provides what we believe are cutting-edge advancements in blockchain and digital payment solutions."
The Global iGaming Market
The global iGaming market has experienced substantial growth in recent years and is projected to reach a market size of over
The Role of Blockchain in iGaming
180 is particularly pleased to have purchased a gaming platform that incorporates the latest blockchain technology. Blockchain technology is revolutionizing the iGaming industry by introducing transparency, security, and trust to online gaming platforms. The decentralized nature of blockchain ensures that gaming transactions are secure and verifiable, reducing fraud and enhancing player confidence. Blockchain also enables instant and transparent payout mechanisms, which is a significant advantage for both players and operators. 180's platform will also have the ability to accept both cryptocurrency and fiat currency, offering players flexibility, which is expected to expand the Company's potential customer base. The integration of crypto payments also ensures lower transaction fees and faster cross-border transfers, making it easier to serve a global audience, allowing 180 to target fast growing regions. Having such technological capabilities enhances the competitiveness of iGaming companies in today's digital economy, giving the Company what management believes is a distinct competitive advantage.
The Company expects to launch the platform during the first quarter of 2025. Management is actively working to operationalize the Gaming Technology Platform, evaluating "front-end" interface solutions, investigating initial licensing jurisdictions, and assessing what external games will ultimately be added for initial launch.
Nasdaq will continue to monitor the Company's ongoing compliance with the stockholders' equity requirement for a period of one year from the date of Nasdaq's compliance letter to the Company. Should the Company fall out of compliance with the minimum equity rule during that time, the Company would become subject to delisting without a cure period. The Company will have the opportunity to request a new hearing should that event occur.
The Company remains out of compliance with the audit committee requirements for continued listing on Nasdaq set forth in Listing Rule 5605(c)(2), which requires that listed companies maintain an audit committee of at least three independent directors. The Company is currently seeking out qualified independent directors to serve on the Company's audit committee and expects to regain compliance with Listing Rule 5605(c)(2) in the near future.
About 180 Life Sciences Corp. is a publicly-traded company that focuses on developing new technologies across multiple sectors. With its current portfolio of inflammation focused intellectual property and its recent acquisition of the Gaming Technology Platform, the Company believes it is positioned for growth in both the biotech and iGaming industries.
Forward-Looking Statements:
This press release includes "forward-looking statements", including information about management's view of the Company's future expectations, plans and prospects, within the safe harbor provisions provided under federal securities laws, including under The Private Securities Litigation Reform Act of 1995 (the "Act"). Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue" and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, the ability of the Company to maintain the continued listing of the Company's securities on The Nasdaq Stock Market, including that the Company is not currently in compliance with Nasdaq's continued listing standards due to its current failure to maintain a three person audit committee and/or a majority of independent directors; the Company's ability to commercialize its Gaming Technology Platform; the lack of experience of current management with operating a gaming company; the ability of the Company to build out a front end for the Gaming Technology Platform, and the costs and timing associated therewith; the ability of the Company to generate revenue from the Gaming Technology Platform, including timing and cost thereof; our need for significant additional funding, the ability of the Company to raise funding, the terms of such funding, and dilution caused thereby; the review and evaluation of strategic transactions and their impact on shareholder value; the process by which the Company engages in evaluation of strategic transactions; the outcome of potential future strategic transactions and the terms thereof; our ability to commercialize our drug candidates, if proven successful for treatment in trials; risks regarding whether the administrative processes required for the issuance of patents will be completed in a timely manner or at all; risks regarding the outcome of pharmaceutical studies, the timing and costs thereof, and the ability to obtain sufficient participants; the timing of, outcome of, and results of, clinical trials statements regarding the timing of marketing authorization application (MAA) submissions to the UK Medicines and Healthcare products Regulatory Agency (MHRA) and New Drug Application submissions (NDA) to the U.S. Food and Drug Administration (FDA), our ability to obtain approval and acceptance thereof, the willingness of MHRA to review such MAA and the FDA to review such NDA, and our ability to address outstanding comments and questions from the MHRA and FDA; statements about the ability of our clinical trials to demonstrate safety and efficacy of our product candidates, and other positive results; the uncertainties associated with the clinical development and regulatory approval of 180 Life Sciences' drug candidates, including potential delays in the enrollment and completion of clinical trials, the costs thereof, closures of such trials prior to enrolling sufficient participants in connection therewith, issues raised by the FDA, the MHRA and the European Medicines Agency (EMA); the ability of the Company to persuade regulators that chosen endpoints do not require further validation; timing and costs to complete required studies and trials, and timing to obtain governmental approvals; 180 Life Sciences' reliance on third parties to conduct its clinical trials, enroll patients, and manufacture its preclinical and clinical drug supplies; the ability to come to mutually agreeable terms with such third parties and partners, and the terms of such agreements; estimates of patient populations for 180 Life Sciences planned products; 180 Life Sciences' ability to fully comply with numerous federal, state and local laws and regulatory requirements, as well as rules and regulations outside the United States; current negative operating cash flows and a need for additional funding to finance our operating plans; the terms of any further financing, which may be highly dilutive and may include onerous terms, increases in interest rates which may make borrowing more expensive and increased inflation which may negatively affect costs, expenses and returns; statements relating to expectations regarding future agreements relating to the supply of materials and license and commercialization of products; the availability and cost of materials required for trials; challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; the inherent risks in early stage drug development including demonstrating efficacy; development time/cost and the regulatory approval process; our ability to attract and retain key personnel; changing market and economic conditions; competition, including technological advances, new products and patents attained by competitors; challenges to patents; changes to applicable laws and regulations, including global health care reforms; expectations with respect to future performance, growth and anticipated acquisitions; expectations regarding the capitalization, resources and ownership structure of the Company; the ability of the Company to execute its plans to develop and market new drug products and the timing and costs of these development programs; estimates of the size of the markets for the Company's potential drug products; the outcome of current litigation involving the Company; potential future litigation involving the Company or the validity or enforceability of the intellectual property of the Company or lawsuits alleging that we have violated the intellectual property of others; global economic conditions; geopolitical events and regulatory changes; the expectations, development plans and anticipated timelines for the Company's drug candidates, pipeline and programs, including collaborations with third parties; and the effect of changing interest rates and inflation, economic downturns and recessions, declines in economic activity or global conflicts. These risk factors and others are included from time to time in documents the Company files with the Securities and Exchange Commission, including, but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks, and including the Annual Report on Form 10-K for the year ended December 31, 2023, and Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, and future SEC filings. These reports and filings are available at www.sec.gov and are available for download, free of charge, soon after such reports are filed with or furnished to the SEC, on the "Investors", "SEC Filings", "All SEC Filings" page of our website at www.180lifesciences.com. All subsequent written and oral forward-looking statements concerning the Company, the results of the Company's clinical trial results and studies or other matters and attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, including the forward-looking statements included in this press release, which are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as otherwise provided by law.
Investor Contact:
Blair Jordan
Interim Chief Executive Officer
Email address: bjordan@180lifesciences.com
[2] https://www.scaleo.io/blog/igaming-stats-affiliate-marketing-statistics-in-igaming-industry-updated/
SOURCE: 180 Life Sciences Corp.
View the original press release on accesswire.com
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