Castellum, Inc.
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
View on SEC.govAbout this filing
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, 2026 · Filed Nov 5, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2026-06-30; filed 2026-08-06.
0001877939-26-000070
Item 1A. Risk FactorsCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-11-05.
0001877939-26-000096
Item 1A. Risk FactorsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 2 previous paragraphs and 6 current paragraphs.
1 unchanged; 1 reworded; 4 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
The current filing states there were no material changes to risk factors.
This is the filer’s own statement, not a conclusion from the comparison. Read its qualifications and the report it references.
Current filing’s statement
In the course of conducting our business operations, we are exposed to a variety of risks. Any of the risk factors we described in Part I, Item 1A. of our Annual Report on Form 10-K for the year ended December 31, 2025 filed on March 9, 2026 have affected or could materially adversely affect our business, prospects, operating results, and financial condition. There have been no material changes to the risk factors disclosed in Part I, Item 1A, ‘Risk Factors,’ in our Annual Report on Form 10-K for the year ended December 31, 2025, except as set forth below:
Added paragraphs (4)
Current report
Low Trading Price of Our Common Stock Could Result in Its Suspension or Delisting From the NYSE American.
Current report
Our common stock was approved for listing on the NYSE American and began trading on October 13, 2022. The NYSE American's continued listing standards permit the exchange, under certain circumstances, to require a company whose common stock has traded at a low price per share for a substantial period of time to effect a reverse stock split to increase its trading price. If a company fails to comply with such a requirement within the time prescribed by the exchange, its common stock may be subject to suspension or delisting. We have not received any notification from the NYSE American requiring us to effect a reverse stock split in connection with the trading price of our common stock, but we may receive such a notification in the future.
Current report
In addition, on August 14, 2026, the SEC approved a rule change to the NYSE American's continued listing standards that, effective July 1, 2027, will require the exchange to immediately suspend trading in, and commence delisting proceedings with respect to, a listed security if its closing price is below $0.25 per share on any trading day. Under this rule, a company will not be entitled to follow the compliance procedures under Section 1009 of the NYSE American Company Guide with respect to a failure to satisfy this minimum trading price requirement, although the company will retain the right to appeal a delisting decision.
Current report
The closing price of our common stock has remained above $0.25 per share since December 4, 2024. However, if the closing price of our common stock falls below $0.25 per share on any trading day on or after July 1, 2027, our common stock will be subject to immediate suspension and the commencement of delisting proceedings, without the benefit of the compliance procedures otherwise available under Section 1009 of the NYSE American Company Guide for this type of deficiency. We may be unable to prevent or mitigate a decline in the trading price of our common stock. Any suspension or delisting of our common stock could reduce its liquidity and market price, limit our ability to raise capital through equity financings, and impair our ability to attract and retain investors.
Reworded paragraphs (1)
Previous wording
In the course of conducting our business operations, we are exposed to a variety of risks. Any of the risk factors we described in Part I, Item 1A. of our Annual Report on Form 10-K for the year ended December 31, 2025 filed on March 9, 2026 have affected or could materially adversely affect our business, prospects, operating results, and financial condition. There have been no material changes from the risk factors described in that report.
Current wording
In the course of conducting our business operations, we are exposed to a variety of risks. Any of the risk factors we described in Part I, Item 1A. of our Annual Report on Form 10-K for the year ended December 31, 2025 filed on March 9, 2026 have affected or could materially adversely affect our business, prospects, operating results, and financial condition. There have been no material changes to the risk factors disclosed in Part I, Item 1A, ‘Risk Factors,’ in our Annual Report on Form 10-K for the year ended December 31, 2025, except as set forth below: