Aspire Biopharma faces potential Nasdaq delisting after compliance shortfall
SCOTTSDALE, AZ - Safety Shot, Inc. (NASDAQ:SHOT), currently trading at $0.37 with a market capitalization of approximately $62 million, announced Wednesday that its subsidiary, BONK Holdings LLC, has increased its holdings to over 2.7% of the total circulating supply of BONK cryptocurrency tokens. The stock has shown remarkable momentum, posting a 33% gain over the past week, according to InvestingPro data. The company has set a new strategic target to acquire 5% of BONK’s circulating supply by the end of 2025.
The increase in holdings follows Safety Shot’s receipt of its first $500,000 revenue share payment from its 10% interest in memecoin launchpad letsBONK.fun. The company expects an additional payment of approximately $650,000 within the next 27 days.
Safety Shot is using this new revenue to acquire additional BONK tokens during the recent cryptocurrency market downturn, which the company characterizes as a buying opportunity. InvestingPro analysis confirms the company’s strong balance sheet position, with more cash than debt and a current ratio of 1.16, though it notes the company is currently not profitable and maintains a WEAK overall financial health score.
"We are using a non-dilutive, recurring revenue stream to aggressively accumulate what we believe is a deeply undervalued asset during a market downturn," said Mitchell Rudy, a BONK core contributor, in the press release.
Safety Shot CEO Jarrett Boon stated that receiving the first revenue share and reinvesting it "demonstrates the power and efficiency of this accretive model."
The company’s strategy involves growing its digital asset treasury using operational revenue rather than raising additional capital through stock offerings.
Safety Shot’s business includes its beverage division, which produces the Sure Shot beverage and Yerbaé’s plant-based energy drink, alongside its digital asset operations. For deeper insights into Safety Shot’s financial health, growth prospects, and detailed analysis, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, Safety Shot, Inc. has announced a strategic alliance with Monarq Asset Management to manage its BONK Holdings LLC subsidiary, which holds over $50 million in BONK tokens. Monarq plans to implement a strategy focusing on active treasury management, yield generation, and wealth preservation. Additionally, Safety Shot is seeking shareholder approval for the appointment of three new directors and the resignation of two current board members, with a vote expected in October. The company has also appointed three new board members to guide its BONK-focused strategy, including Connor Klein, Stacey Duffy, and Jamie McAvity. Furthermore, BONK founder Mitchell Rudy has joined Safety Shot’s board as part of its strategic shift toward the digital asset ecosystem. In another development, David Sandler has resigned as Chief Operating Officer, transitioning to a consultant role for the company. Safety Shot has not yet announced a successor for the COO position. These developments reflect the company’s ongoing transformation and strategic realignment.
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