Core Viewpoint - Castellum, Inc. reported record financial results for Q2 2025, showcasing significant revenue growth, improved operating performance, increased cash reserves, and a notable reduction in debt [1][5][6]. Financial Performance - Revenue for Q2 2025 reached $14.0 million, marking a 19.7% increase from $11.7 million in Q1 2025 and a 21.7% increase from $11.5 million in Q2 2024, indicating two consecutive quarters of year-over-year organic revenue growth [2]. - The operating loss for the quarter narrowed to $(0.4) million, an improvement from $(1.1) million in Q1 2025 and $(6.0) million in Q2 2024, reflecting cost discipline and increasing operating leverage [4]. - Castellum generated $0.5 million of adjusted EBITDA, excluding non-cash and one-time items [4][13]. Debt Management - The company reduced total debt by $3.7 million during the quarter, enhancing its balance sheet and financial flexibility [3][6]. Cash Position - Castellum ended the quarter with a record cash balance of $14.7 million, up from $13.3 million at the end of Q1 2025, reinforcing its commitment to liquidity and prudent capital management [5].

Core Viewpoint - Castellum, Inc. has successfully reduced its debt, demonstrating a strong commitment to financial health and strategic growth in the cybersecurity and electronic warfare sectors focused on the federal government [1][2][3]. Group 1: Debt Reduction - Castellum has reduced the principal balance on a note payable to Robert Eisiminger by $2 million, leaving an aggregate principal balance owed of $2 million [1][5]. - The company's total long-term debt is now less than $3 million, a significant improvement from the previous year [2]. Group 2: Financial Strategy and Growth - The ongoing debt reduction plan is strengthening Castellum's balance sheet and supports its commitment to organic growth [3]. - The company is well-positioned to make timely investments to enhance its business development capabilities and secure major prime contracts [3].

Summary of Centaurus Metals Conference Call Company Overview - **Company**: Centaurus Metals - **Project**: Jaguar Nickel Sulfide Project - **Location**: Brazil Key Points and Arguments Project Progress and Feasibility - Significant progress has been made on the Jaguar nickel sulfide project over the past twelve months, with plans for an investment decision by the end of Q1 next year [3][26] - The project has a resource of 138 million tonnes of nickel, containing approximately 1.2 million tonnes of nickel metal, with reserves of around 400,000 tonnes [4][18] - The project is expected to have a fifteen-year life based on current open-pit reserves [4] Economic Viability - The project is highly economic, with an NPV exceeding AUD 1 billion and an IRR above 30% [10] - Operating costs are projected at $4.43 per pound, positioning the project competitively against other nickel sources, particularly from Indonesia [12][23] - The project is expected to generate free cash flows of approximately USD 170 million annually at long-term nickel prices, with current spot prices yielding around USD 100 million [23] Strategic Partnerships and Funding - Centaurus is actively seeking a minority project partner to secure funding and ensure competitiveness throughout the nickel cycle [5][6] - The company is in discussions with various groups for long-term offtake agreements, highlighting a disconnect between strategic needs for nickel supply and equity market perceptions [6] Environmental and Regulatory Approvals - All necessary environmental licenses have been obtained, including a preliminary license and an installation license, allowing for project construction [7][8][24] - The project benefits from a low carbon footprint due to Brazil's reliance on hydroelectric power, which is attractive to potential partners [8][14] Production Profile - The production profile is expected to start at approximately 22,500 tonnes of nickel annually for the first seven years, tapering to around 16,000-17,000 tonnes in subsequent years [10][22] - There is potential for additional underground mineralization that could enhance production in the future [19] Infrastructure and Location Advantages - The project is located in the Carajas mineral province, a well-established mining region with significant infrastructure, including roads and power lines [15][28] - Proximity to Vale's operations and other mining projects enhances logistical advantages for Centaurus [15][16] Future Outlook - An investment decision is anticipated by March or April next year, with a projected two-year build time leading to production around 2028 [26][27] - The company expects a significant re-rating of its market cap once funding is secured and production begins [28] Additional Important Information - The project is positioned as a Tier one scale asset in a prolific mineral province, with strong cash flow generation potential once operational [28] - The Brazilian government has enhanced support for critical mineral projects, improving the funding landscape for such initiatives [14]

Project Overview - Jaguar Project aims to become the Western World's next major nickel sulphide mine [1] - The project boasts a Tier-1 scale Mineral Resource of 138.2 million tonnes containing 1.2 million tonnes of nickel [4, 9] - It also has a 52 million tonnes Ore Reserve containing 406,100 tonnes of nickel [4, 9] - The project is moving towards a Final Investment Decision (FID) in H1 2026 [7, 61] Financials and Operations - The project anticipates a Life-of-Mine (LOM) Post-Tax operating cash flow of US$2 billion (A$3.12 billion) [10] - It has a Post-Tax Net Present Value (NPV) of US$735 million (A$1.15 million) and a 34% Internal Rate of Return (IRR) [10] - The capital payback period is estimated at 1.8 years [10, 48] - The project targets an average nickel production of 22,600 tonnes per annum (tpa) in the first 7 years [9, 45] - The Life-of-Mine All-In Sustaining Cost (AISC) is projected to be US$4.43/lb Ni (payable basis) [4, 9, 19, 48] Environmental and Approvals - All key environmental approvals have been received, including EIA approval and Preliminary & Installation Licences (LP & LI) [6, 54] - The project has a low carbon footprint, with a forecast of 6.54 tonnes of CO2 per tonne of Nickel [9, 10, 56]

Core Viewpoint - Castellum, Inc. has made significant progress in its strategic transition from a start-up phase to a focus on organic growth, enhancing its capabilities and competitive position in the cybersecurity and defense sectors [2][4][8]. Group 1: Company Progress and Strategy - Since July 1, 2024, Castellum has transitioned from a start-up phase to a Phase 2 strategy focused on organic growth and strengthening its foundational platform [2][3]. - The company has integrated its operations across all business functions, emphasizing business development and enhancing its opportunity pipeline [3][4]. - Castellum has raised over $16 million through public offerings and warrant exercises, reducing long-term debt to less than $5 million [5]. Group 2: Achievements and Capabilities - Castellum won its largest prime contract in history, valued at $103.3 million, for Special Missions support of the Naval Air Systems Command [5]. - The company has established a new subsidiary focused on advanced technology products, complementing its tech-enabled services [5][8]. - Castellum has received consistent "best in industry" contractor performance assessment reports from government customers, indicating high-quality service [5]. Group 3: Future Outlook - The company aims to enhance shareholder value and strengthen national defense through strategic acquisitions and contract wins [9]. - Castellum is committed to increasing the volume and quality of proposals, likening its strategy to taking more swings at the right pitches in baseball [5]. - The leadership team has been restructured to include greater industry and technology experience, positioning the company for future growth [5][6].

Core Viewpoint - Castellum, Inc. has formed a new subsidiary, Castellum Advanced Technology Products, Inc., and entered into a reseller agreement with AmpliTech Group, Inc. to resell AmpliTech's products to Castellum's clients [1][2]. Group 1: Castellum, Inc. - Castellum, Inc. focuses on cybersecurity, electronic warfare, and software engineering services primarily for the federal government [4]. - The establishment of Castellum Advanced Technology Products, Inc. aims to partner with companies like AmpliTech and develop internal products [2]. Group 2: AmpliTech Group, Inc. - AmpliTech Group, Inc. is a leading designer and manufacturer of RF microwave components and ORAN 5G network solutions, serving markets such as satellite communications, telecommunications, space exploration, defense, and quantum computing [3]. - The partnership with Castellum is expected to enhance AmpliTech's penetration into the government market, leveraging Castellum's C5ISR capabilities [2].

Core Viewpoint - Castellum, Inc. has announced the creation of a new wholly owned subsidiary, Castellum Advanced Technology Products, Inc. (CATP), aimed at enhancing its capabilities in advanced technology for federal government clients [1][4]. Group 1: Company Strategy - CATP will focus on collaborating with leading technology companies, developing technology internally, and potentially acquiring equity in companies with advanced technology that can be utilized by the Department of Defense [2]. - The establishment of CATP signifies a strategic shift for Castellum, allowing the company to have greater control over key products needed by its customers, thereby improving overall solutions for the warfighter [3][4]. Group 2: Financial Implications - The CEO of Castellum, Glen Ives, stated that the new subsidiary is expected to enhance revenue and operating margins by adding more value to the services provided to government clients [3].

Core Viewpoint - Castellum, Inc. has successfully closed a public offering of 4,166,667 Units at a price of $1.20 per Unit, raising approximately $5.0 million in gross proceeds for working capital and general corporate purposes [1][2][3]. Group 1: Offering Details - The public offering consisted of Units, each comprising one share of common stock and one warrant to purchase one share of common stock [1]. - The warrants are immediately exercisable at a price of $1.22 per share and will expire 60 days from the date of issuance [1]. - The shares of common stock and warrants are immediately separable and were issued separately [1]. Group 2: Financial Information - Gross proceeds from the offering are approximately $5.0 million before deducting placement agent fees and offering expenses [2]. - The net proceeds will be utilized for working capital and general corporate purposes [2]. Group 3: Regulatory Information - A shelf registration statement on Form S-3 relating to the securities was previously filed with the U.S. Securities and Exchange Commission (SEC) [3]. - The offering was conducted under a preliminary prospectus supplement and an accompanying prospectus that have been filed with the SEC [4].

Core Viewpoint - Castellum, Inc. has announced a public offering of 4,166,667 Units at a price of $1.20 per Unit, aiming to raise approximately $5.0 million for working capital and general corporate purposes [1][2][3]. Group 1: Offering Details - Each Unit consists of one share of common stock and one warrant to purchase one share of common stock, with warrants exercisable at $1.22 per share and expiring 60 days from issuance [1][2]. - The offering is expected to close on or about June 13, 2025, subject to customary closing conditions [2]. Group 2: Financial Information - Gross proceeds from the offering are anticipated to be around $5.0 million before deducting placement agent fees and estimated offering expenses [2]. - Maxim Group LLC is acting as the sole placement agent for the offering on a reasonable best-efforts basis [2]. Group 3: Regulatory Information - A shelf registration statement on Form S-3 relating to the securities was filed with the SEC and became effective on January 24, 2025 [3]. - A preliminary prospectus supplement and accompanying prospectus have been filed with the SEC, with a final prospectus supplement to be filed as well [3].

Core Viewpoint - Castellum, Inc. has successfully retired its promissory note with the Buckhout Charitable Remainder Trust 15 months ahead of schedule, marking a significant improvement in its financial position and balance sheet leverage [1][5]. Financial Performance - The retirement of the note signifies a milestone in reducing the financing burden from the acquisition of Corvus Consulting, LLC, with total long-term debt decreasing from over $12 million in December 2023 to less than $5 million [2]. Company Overview - Castellum, Inc. operates in the cybersecurity, electronic warfare, and software engineering services sectors, primarily focusing on the federal government [3].