JanOne Stock Price, News & Analysis

JanOne Inc. (historically trading on Nasdaq under the ticker JAN) has transitioned into ALT5 Sigma Corporation, reflecting a strategic evolution from its original roots into a multidisciplinary organization with a focus on fintech and healthcare. According to company disclosures, the name change to ALT5 Sigma Corporation and the corresponding ticker symbol change to "ALTS" took effect as of market open on July 15, 2024, aligning the corporate identity with its growing financial technology activities.

The company is headquartered in Las Vegas, Nevada and has been listed on Nasdaq. It has also been identified as a constituent of the Russell Microcap Index, which tracks a segment of the U.S. equity market that includes micro-cap companies. Historically, JanOne was known for its work in biopharmaceutical development targeting non-addicting pain treatments and for addressing causes of pain that can lead to opioid use. Earlier descriptions note that the company was formerly known as Appliance Recycling Centers of America, Inc. and changed its name to JanOne Inc. in September 2019, with a founding date of 1976.

Under the ALT5 Sigma identity, the company describes itself as a fintech enterprise providing blockchain-powered technologies for the trading, clearing, settlement, payment, and custodianship of digital instruments. Through its subsidiaries, it offers two main platforms: ALT5 Pay, a cryptocurrency payment gateway for registered and approved global merchants, and ALT5 Prime, an electronic over-the-counter trading platform for registered and approved customers to buy and sell digital assets using fiat currencies and to receive fiat when selling digital assets. These platforms are accessible via browser-based interfaces, mobile applications under the name "ALT5 Pro", APIs, and connectivity through Broadridge Financial Solutions' NYFIX gateway for approved customers.

Company communications report that ALT5 subsidiaries processed over US$1.2 billion in cryptocurrency transactions in 2023. Additional services have been described, such as the ALT5 Settlement Platform, which enables digital platforms to pay content creators in various cryptocurrencies and to support loading of prepaid Visa cards, and the integration of an unbranded prepaid Visa card to provide institutions and merchants with access to fiat currencies derived from crypto strategies. The company has also disclosed the acquisition of a business trading under the name Mswipe, which offers multi-currency, fiat- and crypto-enabled payment card services through physical and virtual cards on Visa and Mastercard networks, with a focus on B2B solutions that connect digital assets with traditional payment systems.

In parallel with its fintech activities, the company continues to describe ongoing biotech efforts aimed at developing solutions intended to help address the opioid crisis. Its disclosures state that it is dedicated to funding innovation, technology, and education to find approaches to the national opioid epidemic, and that its drugs in the clinical trial pipeline have shown promise through targeting causes of pain as an option for physicians who wish to avoid exposing patients to addictive opioids. Prior information also references a lead candidate, JAN101, a slow-release formulation of sodium nitrite for the treatment of peripheral artery disease, and notes that the company develops treatments for conditions that cause severe pain, with an emphasis on non-addictive pain-relieving drugs and reducing the need for opioid prescriptions.

Corporate filings and press releases further indicate that ALT5 Sigma Corporation has engaged in capital markets transactions, including registered direct offerings, private placements, and the establishment of a cryptocurrency treasury strategy involving WLFI tokens. The company has also reported acquisitions, such as the purchase of Mswipe, and described the use of its fintech platforms in areas like digital content creator payments and crypto-to-fiat conversion for merchants and institutions.

Because the ticker symbol JAN has been replaced by ALTS, information associated with JAN primarily serves as a historical record of the company’s evolution from JanOne Inc. into ALT5 Sigma Corporation, its strategic shift toward fintech through the acquisition and integration of ALT5 Sigma, and the continuation of its healthcare-related initiatives.

Business Focus and Segments

Based on company statements, the business can be viewed in two principal areas:

• Fintech / Digital Assets: Activities under the ALT5 Sigma brand, including ALT5 Pay, ALT5 Prime, the ALT5 Settlement Platform, prepaid Visa card integrations, and card-based services obtained through the Mswipe acquisition. These services are aimed at enabling cryptocurrency payments, digital asset trading, settlement, and card-based spending of both fiat and digital currencies.
• Biotech / Healthcare: Development of drug candidates and related technologies intended to provide non-addicting pain management options and address the opioid crisis, including formulations such as JAN101 and low-dose naltrexone formulations referenced in company communications.

Historical Context of JAN Ticker

The JAN ticker historically represented JanOne Inc., a Nasdaq-listed company focused on healthcare solutions to address pain and the opioid epidemic, and, following the acquisition of ALT5 Sigma, a multidisciplinary organization combining biotech and fintech. As of July 15, 2024, the company confirmed that its name changed to ALT5 Sigma Corporation and its Nasdaq ticker changed from JAN to ALTS. Investors researching JAN are therefore examining the earlier phase of the company’s corporate history prior to and during this transition.