Callan JMB Inc(CJMB) - 2025 Q2 - Quarterly Report

PART I - FINANCIAL INFORMATION Item 1. Unaudited Financial Statements Presents unaudited condensed consolidated financial statements, covering balance sheets, operations, equity, cash flows, and detailed notes Condensed Consolidated Balance Sheets Summarizes the company's financial position, including assets, liabilities, and equity, as of June 30, 2025, and December 31, 2024 Condensed Consolidated Balance Sheet Highlights (June 30, 2025 vs. December 31, 2024) | Metric | June 30, 2025 (USD) | December 31, 2024 (USD) | Change (USD) | Change % | | :-------------------------- | :-------------- | :---------------- | :----- | :------- | | Cash and cash equivalents | $4,224,151 | $2,097,945 | $2,126,206 | 101.3% | | Total assets | $8,965,681 | $5,082,549 | $3,883,132 | 76.4% | | Total liabilities | $3,140,394 | $1,909,191 | $1,231,203 | 64.5% | | Total Stockholders' Equity | $5,825,287 | $3,173,358 | $2,651,929 | 83.6% | Condensed Consolidated Statements of Operations Details the company's revenues, expenses, and net loss for the three and six months ended June 30, 2025 and 2024 Condensed Consolidated Statements of Operations Highlights (Three Months Ended June 30) | Metric | June 30, 2025 (USD) | June 30, 2024 (USD) | Change (USD) | Change % | | :---------------------- | :------------ | :------------ | :---------- | :------- | | Revenue | $1,666,309 | $1,985,768 | $(319,459) | -16% | | Gross profit | $643,870 | $962,216 | $(318,346) | -33% | | Loss from operations | $(1,402,667) | $(133,423) | $(1,269,244) | 951% | | Net loss | $(1,397,523) | $(112,476) | $(1,285,047) | 1143% | | Net loss per common share | $(0.31) | $(0.04) | $(0.27) | 675% | Condensed Consolidated Statements of Operations Highlights (Six Months Ended June 30) | Metric | June 30, 2025 (USD) | June 30, 2024 (USD) | Change (USD) | Change % | | :---------------------- | :------------ | :------------ | :---------- | :------- | | Revenue | $3,115,687 | $3,776,289 | $(660,602) | -17% | | Gross profit | $1,256,963 | $1,679,799 | $(422,836) | -25% | | Loss from operations | $(2,644,915) | $(220,882) | $(2,424,033) | 1097% | | Net loss | $(2,641,986) | $(193,609) | $(2,448,377) | 1264% | | Net loss per common share | $(0.63) | $(0.08) | $(0.55) | 687.5% | Condensed Consolidated Statements of Stockholders' Equity Outlines changes in stockholders' equity, including net loss, IPO proceeds, and stock-based compensation, from January 1, 2025, to June 30, 2025 Stockholders' Equity Changes (January 1, 2025 to June 30, 2025) | Item | Amount (USD) | | :--------------------------------------- | :----------- | | Stockholders' Equity at January 1, 2025 | $3,173,358 | | Net loss | $(2,638,113) | | Common stock issued in IPO (net of costs)| $3,951,868 | | Common stock issued in IPO (over allotment, net of costs) | $592,120 | | Stock based compensation | $749,927 | | Stockholders' Equity at June 30, 2025 | $5,825,287 | Condensed Consolidated Statements of Cash Flows Presents a summary of cash flows from operating, investing, and financing activities for the six months ended June 30, 2025 and 2024 Cash Flow Summary (Six Months Ended June 30) | Activity | June 30, 2025 (USD) | June 30, 2024 (USD) | Change (USD) | | :----------------------------- | :------------ | :------------ | :----------- | | Net cash from operating activities | $(2,124,970) | $275,524 | $(2,400,494) | | Net cash used in investing activities | $(447,506) | $(45,874) | $(401,632) | | Net cash from financing activities | $4,698,682 | $(3,537,549) | $8,236,231 | | Cash and cash equivalents at end of period | $4,224,151 | $1,847,721 | $2,376,430 | Notes to Condensed Consolidated Financial Statements Provides detailed explanatory notes supporting the condensed consolidated financial statements NOTE 1 – NATURE OF OPERATIONS Describes the company's formation, primary operating subsidiary, and its core business in logistics and fulfillment for time-sensitive industries - Callan JMB Inc. was formed on January 24, 2024, in Nevada, to become a holding company for Coldchain Technology Services, LLC (CTS) and Callan JMB Services (India) Private Limited[21] - CTS, the main operating subsidiary, is engaged in a vertically integrated logistics and fulfillment ecosystem for the supply chain, utilizing advanced predictive technology to ensure product integrity in time-sensitive industries[21] NOTE 2 – RECLASSIFICATIONS AND REVISIONS Details immaterial revisions made to previously issued financial statements for the three months ended March 31, 2025 - The Company identified immaterial revisions to its previously issued financial statements for the three months ended March 31, 2025, primarily related to lease modifications and the timing of expense recognition for invoices and prepaid assets[24] Revisions to March 31, 2025 Consolidated Financial Statements | Financial Statement Line Item | As Previously Reported (USD) | Revisions (USD) | As Revised (USD) | | :-------------------------------- | :--------------------- | :----------- | :----------- | | Right of use asset | $799,739 | $324,352 | $1,124,091 | | Other current assets | $180,328 | $104,106 | $284,434 | | Total Assets | $8,455,666 | $428,458 | $8,884,124 | | Operating lease liabilities – current | $236,343 | $44,453 | $280,796 | | Operating lease liabilities - non-current | $592,587 | $280,924 | $873,511 | | Accrued expenses | $390,461 | $106,954 | $497,415 | | Total Liabilities | $1,648,085 | $432,331 | $2,080,416 | | Retained earnings | $(3,534,238) | $(3,873) | $(3,538,111) | | Total Equity | $6,807,581 | $(3,873) | $6,803,708 | [NOTE 3 – REORGANIZATION](index=8&type=section&id=NOTE%203%20