Nasdaq gave notice of discontinuance on Friday, February 16th at Long Blockchain Corp. for the low market capitalization, the company, previously a soft drink brand, decided to make a last-ditch effort to preserve its original beverage business. According to a GlobeNewsWire press release on Tuesday, February 20, Long Island Brand Beverages LLC (LIBB) officially broke with its parent company, Long Blockchain Corp. (LBCC).

The Nasdaq had threatened to write off formerly called Long Island Iced Tea Corp. in October 2017. The company is renamed Long Blockchain Corp. at the end of December 2017, recording an almost immediate increase of 500% in the stock price, which helped to avoid the Nasdaq

Long Blockchain Corp. announced yesterday in its press release its intention to pursue a complete split of the original beverage brand from here the second quarter of 2018. While the name change of the company was ridiculed in the community crypto as a way to make the former CEO Philip Thomas said in the press release that this was part of the plan from the beginning:

"We still had the intention of Ending our beverage business after our move to Blockchain.Technology and we think that is the right time to take such action.Shamyl has shown a lot of initiative and leadership since that. he joined the team, and his appointment as CEO and our planned spin-off will allow the company to execute a clear and focused Blockchain strategy. "

a announced that Shamyl Malik, a veteran of the A Financial Technology, will take the reins as the new CEO of Long Blockchain Corp. to develop and invest in scalable blockchain technology solutions on a global scale.

LIBB, now wholly owned by Long Blockchain, will dispose of Long Blockchain in the most appropriate manner: a "hard range" if you wish, which will allow shareholders a claim equal to LIBB shares and shares LBCC at the time of the split.

"It is expected that the split will give shareholders an opportunity to leverage both the Company's new Blockchain business and the value that will be created by growth. The shareholders will hold the same percentage of LIBB as they currently own in the Company, "said Philip Thomas.

LIBB is not the only company to change its name to include the word "Blockchain", potentially as PR waterfall. In January 2018, at the Securities Regulatory Institute, SEC chairman Jay Clayton issued a specific warning to companies that follow suit, saying the SEC will step up scrutiny in the such cases.