Fintech
JanOne appoints Vay Tham Chief Revenue Officer and President of its Fintech subsidiary, ALT5 Sigma
LAS VEGAS, June 26, 2024 /PRNewswire/ — JanOne Inc. (Nasdaq: JANUARY), a multidisciplinary organization focused on healthcare and fintech, is pleased to announce that it has named Vay Tham Chief Revenue Officer and President of ALT5 Sigma, Inc., its wholly owned subsidiary. Mr. Tham brings with him extensive experience of over 25 years in capital markets, particularly in technology sectors. His career includes roles in research, investment banking and finance, most recently as managing director and head of investment banking technology at PI Financial Corp. (Ventum Financial).
Vay Tham’s expertise will be instrumental in driving ALT5 Sigma’s go-to-market strategy to educate customers on how to improve their digital financial ecosystem. He has a background in electrical engineering, graduated from the University of Waterloo in 1999 and 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 Managing Director and Head of Technology Investment Banking at PI Financial Corp. (Ventum Financial), has more than 25 years of capital markets experience. Vay’s career has spanned research, investment banking and finance roles. Additionally, Mr. Tham had previously founded, grown and sold his own fund, which had more than $300 million in assets under management. Throughout his career, Vay has focused predominantly on technology companies.
“The addition of Vay Tham, a financial markets veteran and technologist at heart, will help drive revenue growth as he focuses on helping clients digitize 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 the ALT5 suite of products. I look forward to forming new partnerships and to build on an already impressive customer base on the ALT5 platform and present ALT5 with new opportunities.”
Additionally, the Company announced today that, as an incentive, 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 incentives outside of JanOne’s 2023 Plan, RSUs are subject to the terms of that Plan. The RSUs are intended to be incentive awards pursuant to 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-based technologies to enable the 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 $1.2 billion in cryptocurrency transactions in 2023.
ALT5 Pay is a cryptocurrency payment gateway that allows registered and approved global merchants to accept and make cryptocurrency payments or integrate the ALT5 Pay payment platform into their application or operations using the plugin with WooCommerce and/or widgets and the ALT5 Pay payment APIs. Merchants have the option to automatically convert to fiat currency or receive payment in digital assets.
ALT5 Prime is an over-the-counter electronic trading platform that allows registered and approved customers to buy and sell digital assets. Customers can purchase digital assets with fiat, and similarly, they can sell digital assets and receive fiat. ALT5 Prime is available through a browser-based access mobile phone application called “ALT5 Pro” which can be downloaded from the Apple App Store, Google Play, via the ALT5 Prime FIX API, as well as via the NYFIX Gateway of Broadridge Financial Solutions for approved clients.
About JanOne
JanOne is a unique, Nasdaq-listed, multidisciplinary organization with a focus on healthcare and fintech. JanOne is a component of the Russell Microcap Index, as of June 28, 2024. Through its biotechnology businesses, JanOne is developing innovative, actionable solutions intended to help end the opioid crisis. JanOne is committed to funding innovation, technology and education resources to find a key solution to the national opioid epidemic, which is one of the deadliest and most widespread in the nation’s history. Its drugs in clinical trials have shown promise for their innovative approach to the causes of pain as a strategic option for doctors averse to exposing patients to addictive opioids.
JanOne’s ALT5 subsidiary is a global fintech providing next-generation blockchain-based technologies for trading, clearing, settlement, payment and custody of digital instruments.
Please visit www.janone.com for more information.
Forward-Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding statements that JAN 101 will treat PAD, JAN 123 will treat CRPS, timing of initiation 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 regarding the profitability and potential growth of ALT5’s platforms and businesses, including, but not limited to, international currency risks, third-party or customer credit risks, liability claims arising from ALT5’s services, and technological challenges to future growth or expansion. Such statements reflect JanOne’s current view of future events, are subject to risks and uncertainties and are necessarily based on 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 may include, among others, those detailed in the Company’s periodic reports filed with the Securities and Exchange Commission (the “SEC”). If one or more of these risks or uncertainties materialize, or if the assumptions set forth in the section entitled “Risk Factors” in JanOne’s filings with the SEC that underlie such forward-looking statements prove incorrect, actual results could 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 undertakes no obligation, to update such forward-looking statements except as required by law. JanOne cannot assure you 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 place undue reliance on forward-looking statements because of the inherent uncertainty therein.
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SOURCE JanOne Inc.