CALLAN JMB INC.
For the period ended Sep 30, 2025. Filed Nov 14, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 14, 2025
CJMB$0.28-0.7%Stored close · as of Nov 6, 2026
Contents
Item 1. Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2025 and 2024 (unaudited)
| Nine months ended | ||
|---|---|---|
| September 30, 2025 | September 30, 2024 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $(5,373,327) | $(998,596) |
| Adjustment to reconcile net loss to net cash provided by (used in) operating activities: | ||
| Stock based compensation | 1,154,842 | - |
| Changes in fair value of derivative liability | 624,041 | - |
| Depreciation and amortization | 119,656 | 108,059 |
| Provision (recoveries) for credit losses | 73,065 | - |
| Other expenses relating to ELOC Facility | 179,041 | - |
| Reduction in allowance for credit losses by release of reserve for credit losses | - | (163,000) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (395,995) | 1,803,724 |
| Inventory | (64,883) | 7,086 |
| Tax refund receivable | 6,377 | - |
| Other current assets | (50,701) | 42,137 |
| Operating lease liabilities | (23,626) | 9,394 |
| Accounts payable and accrued expenses | (43,029) | 473,353 |
| Deferred revenue | (94,097) | (9,085) |
| Deferred tax liabilities | (6,602) | - |
| Corporate taxes payable | 7,501 | (9,546) |
| Net cash provided by (used in) operating activities | $(3,887,737) | $1,263,526 |
| Cash flows used in investing activity: | ||
| Purchase of property and equipment | (616,896) | (46,167) |
| Net cash used in investing activity | $(616,896) | $(46,167) |
| Cash flows from (used in) financing activities: | ||
| Related party loans | 18,669 | 61 |
| Deferred offering costs | 136,025 | (82,675) |
| Partner distributions | - | (3,382,253) |
| Decrease in note payable | - | (98,809) |
| Proceeds from IPO and overallotment, net | 4,543,988 | - |
| Proceeds from issuance of shares under the ELOC Facility | 497,750 | - |
| Net cash provided by (used in) financing activities | $5,196,432 | $(3,563,676) |
| Increase (decrease) in cash and cash equivalents | 691,799 | (2,346,317) |
| Cash and cash equivalents at beginning of period | 2,097,945 | 5,155,620 |
| Cash and cash equivalents at end of period | $2,789,744 | $2,809,303 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
| Nine months ended | |||
|---|---|---|---|
| September 30, 2025 · September 30, 2024 | |||
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest | $536 | $5,372 | |
| Initial recognition of derivative liability | $974,309 | - | |
| Right of use assets acquired and operating lease liabilities | $708,321 | $900,127 | |
| Right of use assets and operating lease liabilities due to lease modifications | $704,927 | - | |
| Fair value of Stock Warrants issued at IPO | $144,358 | - | |
| Deferred offering costs charged to additional paid-in-capital | $136,025 | - | |
| Restricted stock unit awards vesting | $56 | - | |
| Commitment shares under ELOC Facility (see Note 8) | $78,000 | - | |
| Other non-cash expenses relating to ELOC Facility | $48,791 | ||
| Reduction in allowance for credit loss | $ | - | $163,000 |
| Membership exchange for common stock | - | $5,410,007 | |
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