JanOne Announces Plan to Enhance Stockholder Value Through Strategic Realignment

Core Insights - The company has approved a strategic review focusing on its biotech assets, with ALT5 Sigma as the core focus moving forward [1][2] - A name and stock symbol change is planned to reflect this strategic realignment [1][3] Strategic Review and Focus - The board's unanimous decision follows the acquisition of fintech innovator ALT5 Sigma in May, aiming to monetize biotech assets through various alternatives such as spin-offs or strategic alliances [2][3] - The company intends to leverage the recent acquisition of ALT5 Sigma as the primary engine for revenue growth [2][3] Leadership Statements - CEO Tony Isaac emphasized the strategy to enhance stockholder value through both the ALT5 acquisition and potential monetization of biotech assets, noting a significant increase in opportunities for ALT5 since the acquisition [3][6] - The company aims to unlock the full potential of both its biotech and fintech segments, indicating a commitment to swift strategic actions [3][6] Company Rebranding - The company will change its name from JanOne Inc. to ALT5 Sigma Corporation, with the ticker symbol changing from "JAN" to "ALTS" [3] - The website will also be updated to reflect the new branding [3] ALT5 Sigma Overview - ALT5 Sigma, acquired in May, provides blockchain-powered technologies, including ALT5 Pay and ALT5 Prime, facilitating a new global financial paradigm [4][10] - In 2023, ALT5 processed over US$1.2 billion in cryptocurrency transactions, highlighting its significant market presence [10] Biotech Business - The company has been awarded a US patent for its innovative formulation of low-dose naltrexone, Jan123, aimed at treating pain, indicating ongoing development in its biotech segment [5]