Callan JMB Gets Nasdaq Staff Delisting Determination; Appeals

What happened

Callan JMB Inc., a Nevada-incorporated company based in Spring Branch, Texas, whose common stock trades on the Nasdaq Capital Market under the ticker CJMB, said in a Form 8-K filed October 16, 2026 that it received a letter on October 12, 2026 from Nasdaq's Listing Qualifications Department.

According to the filing, the letter — called the Staff Determination — states that the company did not meet the terms of an extension granted to it to regain compliance with Nasdaq Listing Rule 5550(b)(1). The filing says the staff reached that conclusion because the company was unable to complete its capital raising initiatives and demonstrate compliance with the rule.

The rule requires the company to maintain at least $2,500,000 in stockholders' equity for continued listing on the Nasdaq Capital Market. Callan JMB disclosed that it received a deficiency letter about the rule on April 7, 2026, and that Nasdaq staff gave it until October 5, 2026 to regain compliance.

The filing says that unless the company appealed the Staff Determination by October 19, 2026, trading in its common stock would be suspended at the opening of business on October 21, 2026, and a Form 25-NSE would be filed with the SEC to remove the company's securities from listing and registration on Nasdaq.

Callan JMB said it requested a hearing before a Nasdaq Hearings Panel on October 14, 2026 to appeal the Staff Determination. The filing says the hearing request stays the suspension of trading and the filing of the Form 25-NSE pending the panel's decision. The company said it intends to demonstrate compliance with the equity requirement before the panel, and that there can be no assurance the panel will grant continued listing or that the company will regain or maintain compliance.

Separately, the company's stock closed at $2.20 on the day of the filing, down 9.09% from the prior close of $2.42, according to the price data.

The company

The filing identifies Callan JMB as a Nevada corporation with commission file number 001-42506 that trades on Nasdaq. The cover page does not describe its business; it lists the company's principal executive offices at 244 Flightline Drive, Spring Branch, Texas.

The sources provided for this article do not describe what Callan JMB does or how large it is, so those details cannot be reported here.

What this means

Listing Rule 5550(b)(1) is one of Nasdaq's continued-listing standards for the Capital Market tier. It requires a company to keep at least $2.5 million in stockholders' equity — the accounting value of shareholders' claim on the company, roughly total assets minus total liabilities — in order to stay listed. Companies that fall below a continued-listing standard are notified by Nasdaq's Listing Qualifications staff and are typically given a period to regain compliance.

The 8-K is a Current Report. Companies file one to disclose material events to the SEC outside their regular quarterly and annual reports. Item 3.01 of the form is specifically for notice of a delisting or a failure to satisfy a continued listing rule, which is what this filing reports.

A Form 25-NSE is the document that removes a security from an exchange listing and from registration under Section 12(b) of the Securities Exchange Act. Here, according to the filing, it would be filed by Nasdaq only if the suspension takes effect, which is why the company's hearing request matters: the filing states the request stays both the trading suspension and the Form 25-NSE while the panel considers the appeal.

A Nasdaq Hearings Panel is an internal appeal body. The company's filing says it will argue its compliance case before the panel, but does not say when the hearing will occur or what the panel can decide beyond granting or denying continued listing.