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JanOne Inc. (Nasdaq: JAN) is a pioneering clinical-stage pharmaceutical and biopharmaceutical company headquartered in Las Vegas, Nevada. Since its inception in 1976, JanOne has been committed to developing innovative, non-addictive pain relief therapies to address severe pain conditions and ultimately reduce dependency on opioid prescriptions. Through its lead candidate Jan101, a slow-release formulation of sodium nitrite, the company targets the treatment of Peripheral Artery Disease (PAD). Another promising drug, Jan123, focuses on treating Complex Regional Pain Syndrome (CRPS), a debilitating orphan disease lacking FDA-approved treatments.
The company's mission is significantly impactful in light of the ongoing opioid crisis, one of the deadliest epidemics in U.S. history. JanOne’s unique approach targets the root causes of pain, providing non-opioid alternatives that could potentially mitigate the risks associated with opioid abuse.
In recent developments, JanOne has filed an international patent application for low dose naltrexone to treat chronic pain, which could bolster its intellectual property portfolio and help patients worldwide. The company has also made significant strides in the fintech sector by acquiring ALT 5 Sigma Inc., a blockchain financial technology provider, diversifying its operations into the digital asset market.
JanOne operates through two main segments: Biotechnology and fintech (through its subsidiary ALT 5). ALT 5 offers innovative blockchain-powered technologies like ALT 5 Pay and ALT 5 Prime, facilitating crypto-currency payments and electronic over-the-counter trading of digital assets.
JanOne has received accolades for its research, such as the
JanOne Inc. (Nasdaq: JAN) announced a corporate rebranding to ALT5 Sigma , effective July 15, 2024. This includes a change in its Nasdaq ticker symbol from JAN to ALTS and a new website address, alt5sigma.com. These changes are part of a strategic shift to focus on fintech, particularly the ALT5 Sigma fintech platform, while maintaining its biotech initiatives. The company processed over $1.2 billion in cryptocurrency transactions in 2023 through its fintech platforms, ALT5 Pay and ALT5 Prime. Stockholders are not required to take any action with respect to these changes.
JanOne announced a strategic realignment focusing on ALT5 Sigma, a fintech acquired in May. The company plans to monetize its biotech assets through spin-offs, alliances, or sales. The board approved the name change to ALT5 Sigma and a ticker change to ALTS. This realignment aims to enhance stockholder value by capitalizing on ALT5's fintech potential, which includes blockchain-powered platforms like ALT5 Pay and ALT5 Prime. The biotech division will continue, with its innovative pain treatment patent, Jan123, remaining intact. Timing for these changes will be announced later.
JanOne (Nasdaq: JAN) has appointed Vay Tham as Chief Revenue Officer and President of its fintech subsidiary, ALT5 Sigma. Tham brings over 25 years of experience in capital markets, particularly in technology sectors, including his recent role as Managing Director and Head of Technology Investment Banking at PI Financial Corp. He will lead ALT5 Sigma's go-to-market strategy to expand its digital financial ecosystem. Tham has been granted 400,000 restricted stock units (RSUs) which will vest over two years. ALT5 Sigma, a fintech firm launched in 2018, processed over $1.2 billion in cryptocurrency transactions in 2023 through its platforms, ALT5 Pay and ALT5 Prime.
JanOne's subsidiary, ALT5 Sigma, has launched a prepaid VISA®️ Card as part of its ALT5 Settlement Platform to bridge traditional financial systems with the digital crypto realm. This card allows institutions and merchants to convert crypto to fiat seamlessly, providing instant access to funds via a physical or digital prepaid VISA®️ Card. This move aims to offer customers more efficient ways to access and spend fiat currency derived from their crypto activities. The card is available for multi-currency use, converting funds 24/7, enhancing the versatility and flexibility of their financial operations.
JanOne's subsidiary, ALT5 Sigma, reported a significant year-over-year increase in transaction volume for April and May 2024. The total volume reached $289 million, marking a 91% increase from the $151 million reported during the same period in 2023. The company attributes this growth to word-of-mouth and client referrals, and they are now expanding their global marketing efforts. According to President Andre Beauchesne, the rising adoption of cryptocurrencies across various industries is driving the demand for ALT5 Sigma's B2B solutions.
JanOne (Nasdaq: JAN) announced that its subsidiary, ALT5 Sigma, has introduced the ALT5 Settlement Platform targeting the $27.3 billion Global Digital Content Creation Market. The platform enables digital platforms to pay content creators instantly in cryptocurrencies like Bitcoin, Ether, USDT, and USDC, reducing remittance costs and speeding up the payment process. It also allows creators to load a prepaid VISA card with crypto funds, usable at over 130 million Visa merchant locations worldwide. Launched in September 2023, the platform's pilot saw settlement volumes grow from $1 million to $7 million per month.
JanOne (Nasdaq: JAN) has announced its inclusion in the Russell Microcap® Index, effective June 3, 2024. The Russell Microcap® Index, launched on June 1, 2005, measures the performance of the microcap segment of the US equity market and includes 1,000 securities.
This milestone follows JanOne's recent acquisition of ALT 5 Sigma and is expected to enhance the company's visibility among investment managers and institutional investors.
CEO Tony Isaac highlighted the strategic importance of this inclusion for the company's development and future investment opportunities.
JanOne (Nasdaq: JAN) announced on May 16, 2024, the successful acquisition of blockchain fintech ALT 5 Sigma and its subsidiaries. ALT 5, established in 2018, offers blockchain technologies through platforms 'ALT 5 Pay' and 'ALT 5 Prime.' The acquisition comprises 1,799,100 shares of JanOne's common stock, constituting roughly 19.9% of its total outstanding shares, and 34,207 shares of Series B preferred stock. ALT 5's transactional volume reached $1.1 billion last year and $450 million in Q1 of this year. Both companies aim to leverage this acquisition for future growth and diversification.
JanOne Inc. (Nasdaq: JAN) has agreed to acquire ALT 5 Sigma Inc., a fintech provider specializing in blockchain technologies. ALT 5's transactional volume exceeded $1.1 billion in 2023 and $450 million in Q1 2024. The acquisition aims to leverage ALT 5's innovative solutions in the payment processing market. ALT 5 Pay and ALT 5 Prime are the two platforms offered by ALT 5, focusing on crypto-currency payment gateways and electronic OTC trading. The deal is expected to close the week of May 13th, 2024, subject to regulatory approval.
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