LAS VEGAS, Sept. 5, 2019 /PRNewswire/ -- Appliance
Recycling Centers of America, Inc. (NASDAQ: ARCI), announced that
it is changing its name and broadening its business perspectives to
include developing new and highly innovative solutions for ending
the opioid epidemic. From digital technologies to educational
advocacy to revolutionary painkilling drugs that address a
multibillion dollar a year market, the company intends to champion
new initiatives to combat the opioid crisis, which claims tens of
thousands of lives each year.
The company's new name will be JanOne Inc., a name strategically
chosen to express the start of a "new day" in the fight against the
opioid epidemic. January First
is the first day of a New Year—a day of optimism, resolution, and
hope. JanOne affirms the company's new strategic commitment
to fresh thinking and innovative means to assist in ending the
worst drug crisis in our nation's history.
Along with the new focus and name will come a new Nasdaq ticker
symbol NASDAQ:JAN, a new CUSIP number, and a new web address –
JanOne.com. The company expects that the name, symbol, CUSIP
and web changes will become effective within the next 10 days. The
company will continue to operate its legacy businesses—ARCA and
GeoTraq—under their current brand names.
"Opioid addiction and death by overdose represent one of the
gravest health and policy issues of our time," said Tony Isaac, the company's CEO. "We decided
to broaden our vision to find actionable solutions to the epidemic,
as we continue to diversify our strategic initiatives. This
broadening is intended to create new sources of value and growth
for our family of companies and for JanOne as a whole. The
global market for painkillers, for example, has reached billions of
dollars, representing an opportunity for safe, alternatives to
opioids, while relieving pain and saving lives."
The new JanOne is guided by the principle that the right
combination of technology, education, and innovative
pharmaceuticals can produce a breakthrough in the fight against the
overuse and misuse of opioids. The company intends to
capitalize on the tremendous business potential to become a leader
in applying private-sector resources toward innovative solutions to
"Renaming the company and creating a broadened business
perspective is expected to add stockholder value and offer new
business partnerships and unique opportunities for continued
growth," said Isaac. "We intend for JanOne to evolve with new
partners and initiatives, as well as to expand into a network of
healthcare experts focused on this deadly epidemic."
Under the JanOne umbrella of companies, ARCA will continue to
operate its historical appliance recycling business, and GeoTraq
will continue to develop and expand its asset tracking and remote
monitoring business that employs Mobile IoT modules with global
ARCA and subsidiaries are in the business of recycling major
household appliances in North America by providing
turnkey appliance recycling and replacement services for utilities
and other sponsors of energy efficiency programs. In addition,
through GeoTraq, ARCA is engaged in the development, design and
ultimately, ARCA expects, the sale of Mobile IoT modules.
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 statements with respect to the
company's ability to combat the opioid epidemic and the company's
ability to develop solutions for ending the opioid epidemic, and
the timing of the company's name change. These forward-looking
statements are subject to risks and uncertainties that could cause
actual results to differ materially from the statements made,
including the risks associated with the general economic
conditions, competition in the retain and recycling industries and
regulatory risks. Other factors that could cause operating and
financial results to differ are described in ARCA's periodic
reports filed with the Securities and Exchange Commission (the
"SEC"). Other risks may be detailed from time to time in reports to
be filed with the SEC.
Director of Marketing
ARCA Recycling, Inc.
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SOURCE Appliance Recycling Centers of America, Inc.