180 Life Sciences Corp. Regains Full Compliance with Nasdaq Continued Listing Rules
180 Life Sciences Corp has announced its return to full compliance with Nasdaq Listing Rule 5605(c)(2) following the appointment of Stephen Shoemaker as an independent director and audit committee member. This appointment resolves all previously announced deficiencies in Nasdaq's continued listing requirements.
Interim CEO Blair Jordan confirmed that the company is now focusing on its strategic pivot into the iGaming sector, highlighting the potential of their recently acquired Technology Gaming Platform, particularly in relation to cryptocurrency adoption. The management team and board are aligned on leveraging emerging technologies and market trends in the iGaming industry.
180 Life Sciences Corp ha annunciato il suo ritorno alla piena conformità con la Regola di Quotazione 5605(c)(2) del Nasdaq, a seguito della nomina di Stephen Shoemaker come direttore indipendente e membro del comitato di audit. Questa nomina risolve tutte le carenze precedentemente annunciate nei requisiti di mantenimento della quotazione del Nasdaq.
Il CEO ad interim Blair Jordan ha confermato che l'azienda si sta ora concentrando sul suo cambiamento strategico verso il settore iGaming, evidenziando il potenziale della sua recentemente acquisita Piattaforma di Tecnologia per il Gioco, in particolare in relazione all'adozione delle criptovalute. Il team di gestione e il consiglio si sono allineati per sfruttare le tecnologie emergenti e le tendenze di mercato nell'industria dell'iGaming.
180 Life Sciences Corp ha anunciado su regreso a la plena conformidad con la Regla de Cotización 5605(c)(2) de Nasdaq, tras la designación de Stephen Shoemaker como director independiente y miembro del comité de auditoría. Esta designación resuelve todas las deficiencias previamente anunciadas en los requisitos de cotización continua de Nasdaq.
El CEO interino Blair Jordan confirmó que la empresa ahora se centra en su cambio estratégico hacia el sector iGaming, destacando el potencial de su Plataforma de Tecnología de Juego recientemente adquirida, especialmente en relación con la adopción de criptomonedas. El equipo de gestión y la junta están alineados para aprovechar las tecnologías emergentes y las tendencias del mercado en la industria del iGaming.
180 Life Sciences Corp는 Stephen Shoemaker를 독립 이사이자 감사 위원회 위원으로 임명한 후 Nasdaq 상장 규정 5605(c)(2)에 대한 완전한 준수를 재확인했다고 발표했습니다. 이 임명은 Nasdaq의 지속적인 상장 요건에서 이전에 발표된 모든 결함을 해소합니다.
임시 CEO인 Blair Jordan은 이제 회사가 iGaming 분야로의 전략적 전환에 집중하고 있으며 최근 인수한 기술 게임 플랫폼의 잠재력을 강조하고, 특히 암호 화폐 수용과 관련하여 그러하다고 확인했습니다. 경영진과 이사회는 iGaming 산업의 새로운 기술과 시장 트렌드를 활용하는 데 의견을 모았습니다.
180 Life Sciences Corp a annoncé son retour en pleine conformité avec la règle de cotation 5605(c)(2) de Nasdaq après la nomination de Stephen Shoemaker en tant que directeur indépendant et membre du comité d'audit. Cette nomination résout toutes les insuffisances précédemment annoncées dans les exigences de cotation continue de Nasdaq.
Le PDG par intérim Blair Jordan a confirmé que l'entreprise se concentre désormais sur son changement stratégique vers le secteur iGaming, mettant en avant le potentiel de sa plateforme technologique de jeu récemment acquise, en particulier en ce qui concerne l'adoption des cryptomonnaies. L'équipe de direction et le conseil d'administration sont alignés pour tirer parti des technologies émergentes et des tendances du marché dans l'industrie de l'iGaming.
180 Life Sciences Corp hat seine Rückkehr zur vollständigen Einhaltung der Nasdaq-Listungsvorschrift 5605(c)(2) bekannt gegeben, nachdem Stephen Shoemaker als unabhängiger Direktor und Mitglied des Prüfungsausschusses ernannt wurde. Diese Ernennung beseitigt alle zuvor angekündigten Mängel in den Anforderungen für die fortgesetzte Listung bei Nasdaq.
Der interimistische CEO Blair Jordan bestätigte, dass das Unternehmen sich nun auf seinen strategischen Wechsel in den iGaming-Sektor konzentriert und das Potenzial seiner kürzlich erworbenen Technologie-Gaming-Plattform hervorhebt, insbesondere im Hinblick auf die Einführung von Kryptowährungen. Das Managementteam und der Vorstand sind sich einig, dass sie aufkommende Technologien und Markttrends der iGaming-Branche nutzen wollen.
- Regained full Nasdaq compliance, eliminating delisting risk
- Completed audit committee requirements with new independent director appointment
- Strategic pivot into iGaming sector with acquired Technology Gaming Platform
- Complete business model pivot indicates previous strategy abandonment
- Uncertainty surrounding execution in new iGaming sector
Insights
The regaining of Nasdaq compliance is important for
The cryptocurrency gaming platform strategy enters a highly competitive market with established players. While the iGaming sector offers growth potential, the company's small market cap and recent organizational changes present significant challenges in establishing market presence. Investors should carefully evaluate the company's ability to execute this pivot successfully given the details about their technology platform and monetization strategy.
PALO ALTO, CA / ACCESSWIRE / December 12, 2024 / 180 Life Sciences Corp. ("180" or the "Company") is pleased to announce that it has regained compliance with Nasdaq Listing Rule 5605(c)(2), which requires Nasdaq listed companies to maintain an audit committee consisting of three independent directors. This development follows the recent appointment of Mr. Stephen Shoemaker as an independent director of the Company and as a member of the Company's audit committee. With this appointment, 180 is now in full compliance with all Nasdaq continued listing requirements and has remedied all previously announced deficiencies.
Mr. Blair Jordan, Interim CEO of the Company, stated, "This brings 180 into full compliance with Nasdaq's continued listing rules, eliminating any uncertainty around Nasdaq compliance issues. The entire management team is now firmly focused on executing on our previously announced pivot into the iGaming sector."
Mr. Jordan further emphasized, "We continue to believe that the Technology Gaming Platform the Company has acquired places us in an ideal position, particularly as cryptocurrency gains traction and visibility with consumers. We are excited about the opportunities ahead and remain committed to delivering value to our shareholders."
The Company's leadership team and board of directors are aligned in their vision for growth and innovation. The transition into the iGaming sector represents a strategic pivot designed to leverage emerging technologies and market trends, enhancing the Company's ability to thrive in a dynamic and rapidly evolving industry.
About 180 Life Sciences Corp. 180 Life Sciences Corp. is an innovative biotechnology company that is focused on advancing breakthrough treatments. With recent moves into the online gaming sector, the Company is leveraging its expertise and new strategic appointments to capitalize on the expanding opportunities in this market. The Company is dedicated to leveraging its recently acquired proprietary Technology Gaming Platform and expertise to capture emerging trends, particularly in cryptocurrency and blockchain technologies.
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; the Company's ability to raise funding to support its operations and commercialize its newly acquired Gaming Technology Platform; 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 or acquire 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; competition in the iGaming industry; risks relating to fraud, theft or cheating; our ability to obtain and maintain licenses, and the terms thereof; our required reliance on third party cloud service providers and providers of third-party communications infrastructure, hardware and software; 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 the 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's 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's 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's planned products; 180's 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, changes 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; competition, including technological advances, new products and patents attained by competitors; challenges to patents; changes to applicable laws and regulations; 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 products and the timing and costs of these programs; estimates of the size of the markets for the Company's planned 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; 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 September 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 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
SOURCE: 180 Life Sciences Corp.
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