Callan JMB

2 serious warning signs in Callan JMB’s filings.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 31 Mar 2026, plus the 10-Q filed 14 Aug 2026 and 8 later 8-Ks.

• Doubt it can keep going

  Serious

  The company or its auditor warned it may not have enough money to last the next year.

  “These conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date these condensed consolidated financial statements are issued.”

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  As of June 30, 2026, the Company had an accumulated deficit of $(14,706,991) and negative cash flow from operating activities of $(2,075,943) for the six months ended June 30, 2026. In addition, the Company incurred a net loss of $(4,446,977) for the six months ended June 30, 2026 and had cash and cash equivalents of $860,273 as of June 30, 2026. The Company has recurring losses, has not yet generated sufficient cash flows from operations to fund its activities, and expects to continue incurring operating losses and using cash in support of its business plan. These conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date these condensed consolidated financial statements are issued. Accordingly, the Company may be unable to realize its assets and discharge its liabilities in the normal course of business.

  From the 10-Q filed 14 August 2026, Part I, Item 2. Management's Discussion and Analysis. Read it in the filing

• Weak checks on its own accounts

  Serious

  The company said its checks on its own accounts did not work at the end of its latest quarter. Mistakes could slip into the numbers.

  “Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that as of June 30, 2026, our disclosure controls and procedures were not effective.”

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  Our Chief Executive Officer and Chief Financial Officer conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”), as of June 30, 2026, to ensure that information required to be disclosed by us in the reports filed or submitted by us under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the rules and forms of the SEC, including to ensure that information required to be disclosed by us in the reports filed or submitted by us under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that as of June 30, 2026, our disclosure controls and procedures were not effective. Management identified a material weakness on the timeliness and consistency of execution of oversight reviews and governance impacting the performance of certain internal control activities, which affected the Company’s ability to consistently achieve its control objectives. During the year ended December 31, 2025, the Company continued to develop and refine its disclosure controls and other procedures designed to ensure that information required to be disclosed in reports filed with the SEC is recorded, processed, summarized, and reported within the time periods specified by SEC rules and forms. In response to the identified ineffectiveness of controls, management has worked on enhancing oversight and governance processes, improving documentation of accounting policies and procedures, and engaged experienced third-party advisors to support GAAP compliance and financial reporting. While progress was made during the year ended December 31, 2025 and has continued through the six months ended June 30, 2026, remediation of the material weakness will not be considered complete until the redesigned controls have operated effectively for a sustained period and have been validated through testing.

  From the 10-Q filed 14 August 2026, Part I, Item 4. Controls and Procedures. Read it in the filing

• One big customer

  Worth knowing

  One customer brings in a big share of sales: 58% last year. Losing that customer would hurt.

  “For the year ended December 31, 2025, three customers, Customer 1 (58%), Customer 2 (10%), and Customer 3 (11%), accounted for approximately 79% of total revenues generated.”

  From the 10-K filed 31 March 2026, Item 1A. Risk Factors. Read it in the filing