Castellum, Inc.
For the period ended Dec 31, 2025. Filed Mar 9, 2026.
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FY2025 · Filed Mar 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statement of Changes in Stockholders’ Equity (Deficit)
| Series A Preferred · Series B Preferred · Series CPreferred · Common · AdditionalPaid-In Capital · AccumulatedDeficit · Total | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount · Shares · Amount | |||||||||||||||
| Balances at December 31, 2022 | 5,875,000 | $588 | — | $— | 770,000 | $77 | 41,699,363 | $4,170 | $43,621,651 | $(26,094,570) | $17,531,916 | ||||
| Stock-based compensation - options | — | — | — | — | — | — | — | — | 5,923,200 | — | 5,923,200 | ||||
| Stock-based compensation - warrants | — | — | — | — | — | — | — | — | 1,076,969 | — | 1,076,969 | ||||
| Stock-based compensation - shares issued for services and Restricted stock | — | — | — | — | — | — | 462,244 | 45 | 423,614 | — | 423,659 | ||||
| Shares issued in acquisition of GTMR | — | — | — | — | — | — | 4,866,570 | 487 | 5,304,075 | — | 5,304,562 | ||||
| Extinguishment of Crom Note | — | — | — | — | — | — | 556,250 | 56 | 589,944 | — | 590,000 | ||||
| Loss on induced conversion | — | — | — | — | — | — | — | — | 300,000 | — | 300,000 | ||||
| Extinguishment of debt discount related to derivative liability | — | — | — | — | — | — | — | — | (171,128) | — | (171,128) | ||||
| Extinguishment of debt discount related to debt issuance | — | — | — | — | — | — | — | — | (8,034) | — | (8,034) | ||||
| Extinguishment of derivative liability | — | — | — | — | — | — | — | — | 33,375 | — | 33,375 | ||||
| Shares issued in private placement | — | — | — | — | — | — | 63,000 | 6 | 125,994 | — | 126,000 | ||||
| Shares issued as commitment shares in Crom Transaction | — | — | — | — | — | — | 25,000 | 3 | 10,997 | — | 11,000 | ||||
| Balance sheet reclassification adjustment (a) | — | — | — | — | — | — | — | — | (304,500) | 30,000 | (274,500) | ||||
| Net loss | — | — | — | — | — | — | — | — | — | (17,918,330) | (17,918,330) | ||||
| Balances at December 31, 2023 | 5,875,000 | $588 | — | $— | 770,000 | $77 | 47,672,427 | $4,767 | $56,926,157 | $(43,982,900) | $12,948,689 | ||||
| Stock-based compensation - options | — | — | — | — | — | — | — | — | 5,280,217 | — | 5,280,217 | ||||
| Shares issued to institutional investor | — | — | — | — | — | — | 5,357,487 | 536 | 755,231 | — | 755,767 | ||||
| Sale of common stock, net of filing fees | — | — | — | — | — | — | 13,828,701 | 1,382 | 6,465,973 | — | 6,467,355 | ||||
| Private warrants issued to institutional investor | — | — | — | — | — | — | 7,137,501 | 714 | 4,299,883 | — | 4,300,597 | ||||
| Pre-funded warrants issued to institutional investor | — | — | — | — | — | — | 3,080,013 | 308 | 528,677 | — | 528,985 | ||||
| Net loss | — | — | — | — | — | — | — | — | — | (10,099,584) | (10,099,584) | ||||
| Balances at December 31, 2024 | 5,875,000 | $588 | — | $— | 770,000 | $77 | 77,076,129 | $7,707 | $74,256,138 | $(54,082,484) | $20,182,026 | ||||
| Stock-based compensation - options | — | — | — | — | — | — | — | — | 2,475,687 | — | 2,475,687 | ||||
| Exercise of stock options | — | — | — | — | — | — | 235,028 | 23 | 26,477 | — | 26,500 | ||||
| Sale of common stock, net of filing fees | — | — | — | — | — | — | 8,666,667 | 867 | 8,465,468 | — | 8,466,335 | ||||
| Private warrants issued to institutional investor | — | — | — | — | — | — | 2,000,000 | 200 | 699,800 | — | 700,000 | ||||
| Warrants exercised, net of filing fees | — | — | — | — | — | — | 6,509,926 | 651 | 6,132,831 | — | 6,133,482 | ||||
| Series C Conversion | — | — | — | — | (200,000) | (20) | 125,000 | 13 | 8 | — | 1 | ||||
| Balance sheet reclassification adjustment (a) | — | — | — | — | — | — | — | — | 274,500 | — | 274,500 | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net loss | — | — | — | — | — | — | — | — | — | (2,505,734) | (2,505,734) | ||||
| Balances at December 31, 2025 | 5,875,000 | $588 | — | $— | 570,000 | $57 | 94,612,750 | $9,461 | $92,330,909 | $(56,588,218) | $35,752,797 |
(a) In the second quarter of 2023, the Company made an immaterial balance sheet reclassification to reduce additional paid in capital by $304,500 and to increase the obligation to issue common shares account and the accumulated deficit account by $274,500 and $30,000, respectively. These immaterial amounts are also reflected in the Company's Consolidated Balance Sheets, Consolidated Statements of Cash Flows, and the Consolidated Statement of Changes in Stockholders' Equity.
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