LAS VEGAS, June 26, 2024 /PRNewswire/ -- JanOne Inc.
(Nasdaq: JAN), a multidisciplinary organization with a focus on
healthcare and fintech, is pleased to announce that it has
appointed Mr. Vay Tham as its Chief
Revenue Officer and President of ALT5 Sigma, Inc., its wholly-owned
subsidiary. Mr. Tham brings extensive experience in capital
markets, particularly in technology sectors, spanning over 25
years. His career includes roles in research, investment banking,
and finance, notably and most recently as Managing Director and
Head of Technology Investment Banking at PI Financial Corp. (Ventum
Financial).
Vay Tham's expertise will be
pivotal in leading ALT5 Sigma's go-to-market strategy to educate
customers on how to enhance their digital financial ecosystem. He
has a background in Electrical Engineering, graduating from the
University of Waterloo in 1999, and has
previously founded, grown, and successfully sold his own fund,
managing over $300 million in assets
at the time.
In this role, Vay will lead ALT5 Sigma's go-to-market strategy,
with a focus on expanding the market share of ALT5's leading
digital financial ecosystem. Vay
Tham, who most recently served as PI Financial Corp.'s
(Ventum Financial), Managing Director, Head of Technology
Investment Banking, has over 25 years' experience in capital
markets. Vay's career has spanned research, investment banking, and
finance roles. In addition, Mr. Tham previously founded, grew,
and sold his own fund, which had over $300
million of assets under management. Vay has predominantly
focused on technology companies throughout his career.
"Bringing on Vay Tham, a veteran
of the financial markets and a technologist at heart, will help
drive revenue growth as he focuses on aiding customers in
digitizing their legacy financial ecosystems," said Tony Issac, CEO of JanOne. He added, "As our new
Chief Revenue Officer, the first in our Company's
history, Vay's expertise will be invaluable as we educate our
end-users on the breadth of the ALT5 portfolio. Together, with the
ALT5 team, we are confident Vay will help us reach new
heights."
Mr. Tham commented, "I am delighted to join JanOne and ALT5. In
my 25-year career, I have advised and worked with dozens of
corporate entities that would benefit from ALT5's product suite. I
look forward to forging new partnerships and building on an already
impressive customer base on the ALT5 platform and introducing ALT5
to new opportunities."
In addition, the Company today announced that, as an inducement
grant, on June 25, 2024, our Board of
Directors and our Compensation Committee granted Mr. Tham 400,000
restricted stock units (the "RSUs"). The RSUs will vest over
two years, subject to certain "Change of Control" accelerators as
defined in JanOne's 2023 Plan. Although granted as inducement
awards outside of JanOne's 2023 Plan, the RSUs are subject to the
terms of that Plan. The RSUs are intended to be inducement
awards under Rule 5635(c)(4) of the Nasdaq Stock Market Listing
Rules and were granted outside of JanOne's 2023 Plan.
About ALT5 Sigma Inc.
Launched in 2018, ALT5 is a fintech
company that provides next generation blockchain-powered
technologies to enable a migration to a new global financial
paradigm. ALT5, through its subsidiaries, offers two main platforms
to its customers: "ALT5 Pay" and "ALT5 Prime". The Company
processed over US$1.2 billion in
cryptocurrency transactions in 2023.
ALT5 Pay is a crypto-currency payment gateway that enables
registered and approved global merchants to accept and make
crypto-currency payments or to integrate the ALT5 Pay payment
platform into their application or operations using the plugin with
WooCommerce and or ALT5 Pay's checkout widgets and APIs. Merchants
have the option to convert to fiat currency (s) automatically or to
receive their payment in digital assets.
ALT5 Prime is an electronic over-the-counter trading platform
that enables registered and approved customers to buy and sell
digital assets. Customers can purchase digital assets with fiat
and, equally, can sell digital assets and receive fiat. ALT5 Prime
is available through a browser-based access mobile phone
application named "ALT5 Pro" that can be downloaded from the Apple
App Store, from Google Play, through ALT5 Prime's FIX API, as well
as through Broadridge Financial Solutions' NYFIX
gateway for approved customers.
About JanOne
JanOne is a unique Nasdaq-listed multidisciplinary organization
with a focus on healthcare and fintech. JanOne is one of the
constituents of the Russell Microcap Index, starting June 28, 2024. Through its biotech
activities, JanOne is developing innovative, actionable
solutions intended to help end the opioid crisis. JanOne is
dedicated to funding resources toward innovation, technology, and
education to find a key resolution to the national opioid epidemic,
which is one of the deadliest and most widespread in the nation's
history. Its drugs in the clinical trial pipeline have shown
promise for their innovative targeting of the causes of pain as a
strategic option for physicians averse to exposing patients to
addictive opioids.
JanOne's ALT5 subsidiary is a global fintech that provides next
generation blockchain powered technologies for the trading,
clearing, settlement, payment, and custodianship of digital
instruments.
Please visit www.janone.com for additional information.
Forward Looking Statements
This press release contains statements that are forward-looking
statements as defined within the Private Securities Litigation
Reform Act of 1995, including, but not limited to, statements
relating to the statements that JAN 101 will treat PAD, that JAN
123 will treat CRPS, the timing of the commencement of clinical
trials, that the FDA will permit approval through a 505(b)(2)
pathway for JAN 123, that upon approval JAN 101 will immediately
disrupt the PAD market, and other statements, including words such
as "continue", "expect", "intend", "will", "hope" "should",
"would", "may", "potential", and other similar expressions. This
press release also contains statements and links relating to the
profitability and prospective growth of ALT5's platforms and
business, including, but not limited to international currency
risks, third-party or customer credit risks, liability claims
stemming from ALT5's services, and technology challenges for future
growth or expansion. Such statements reflect JanOne's current
view with respect to future events, are subject to risks and
uncertainties, and are necessarily based upon a number of estimates
and assumptions that, while considered reasonable by JanOne, are
inherently subject to significant business, economic, competitive,
political, and social uncertainties and contingencies.
Many factors could cause JanOne's actual results, performance,
or achievements to be materially different from any future results,
performance or achievements described in this press release. Such
factors could include, among others, those detailed in the
Company's periodic reports filed with the Securities and Exchange
Commission (the "SEC"). Should one or more of these risks or
uncertainties materialize, or should the assumptions set out in the
section entitled "Risk Factors" in JanOne's filings with the
SEC underlying those forward-looking statements prove incorrect,
actual results may vary materially from those described herein.
These forward-looking statements are made as of the date of this
press release and JanOne does not intend, and does not assume
any obligation, to update these forward-looking statements, except
as required by law. JanOne cannot assure that such statements will
prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements.
Individuals are cautioned that forward-looking statements are not
guarantees of future performance and accordingly investors are
cautioned not to put undue reliance on forward-looking statements
due to the inherent uncertainty therein.
Media Contact Investor Relations
IR@janone.com
1-800-400-2247
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