Callan JMB Inc.: Nasdaq delisting notice

What happened
Callan JMB Inc. filed an 8-K reporting that on Oct 12, 2026 the Listing Qualifications Staff of The Nasdaq Stock Market LLC determined the company did not meet Nasdaq Listing Rule 5550(b)(1), the $2,500,000 stockholders’ equity requirement. The filing states the Staff said the company was unable to complete its capital raising initiatives and demonstrate compliance during an extension period. Unless the company requested an appeal by Oct 19, 2026, trading of the company’s common stock would be suspended at the opening of business on Oct 21, 2026 and a Form 25-NSE would be filed to remove the securities from Nasdaq. The company requested a hearing before a Nasdaq Hearings Panel on Oct 14, 2026; the hearing request stays the suspension and the Form 25-NSE filing pending the Panel’s decision. The filing also states the company “intends to vigorously demonstrate its compliance” and includes customary forward-looking statements and risk disclosures.

Key details

• Nasdaq Listing Rule 5550(b)(1) requires a minimum of $2,500,000 in stockholders’ equity.
• Deficiency letter received Apr 7, 2026; Nasdaq granted an extension until Oct 5, 2026.
• Staff Determination received Oct 12, 2026; appeal deadline Oct 19, 2026; suspension would occur at opening of business on Oct 21, 2026 absent an appeal.
• Company requested a hearing before a Nasdaq Hearings Panel on Oct 14, 2026, which stays suspension and the Form 25-NSE filing pending the Panel’s decision.

Why it may matter
Item 3.01 was reported: Notice of delisting or failure to satisfy a continued listing rule or standard, which covers Nasdaq compliance and potential removal from listing and registration. A filing does not show why the insider traded or why the company acted.