AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”) announced the formation of a wholly owned subsidiary with the purpose of making strategic investments and acquisitions across the fintech and financial services industries. The new subsidiary is expected to be the centerpiece of a long-range plan to diversify AIkido’s business beyond biotechnology, in order to reduce volatility and mitigate risk while increasing revenue and enhancing shareholder value.
The new subsidiary will leverage the extensive capital markets expertise of AIkido’s board of directors to identify investment opportunities and acquisition targets in wealth management, investment banking, alternative investments, and asset management with the goal of transforming and optimizing operations with a synergistic and accretive business model. The Company is in the process of recruiting additional top-tier talent to implement the strategy.
Anthony Hayes, CEO of AIkido stated, “Our board is made up of some of the most accomplished Wall St. executives, so we are fully confident that the financial services sector is the right next step for AIkido and our overall plan is the right path forward for our company. Our vision is to merge world-class talent with best-in-class technology to acquire revenue generating assets to drive shareholder value,” Hayes added.
“Beyond acquisitions in the financial services industries, AIkido intends to create two additional subsidiaries in the industries of health and wellness and innovative technology. Our investment portfolio was set up along these same lines. For example, the legacy biotech assets and our investment in ASP Isotopes, Kerna Health, will be part of our health and wellness subsidiary. Whereas our investments in Epics Games, SpaceX, and Discord, are foundational to our innovation subsidiary. Our assets are part of a long-term strategy to own operational and revenue generating companies in the key high-growth sectors that we have identified for investment.
The proceeds from the investments in each industry, some of which we expect to receive this year, will allow us to further fund and grow revenue generating businesses in those sectors. And just like financial services, the recruitment of top talent within each subsidiary is necessary for execution. We are committed as a Company to keep shareholders informed and will provide additional information when we are able. We thank shareholders for their patience and believe we have the proper plan to navigate through the notable downturn in the biotechnology sector and build a diversified company of revenue generating assets.”