Nasdaq staff rejects Callan JMB's equity-rule extension; suspension set for Oct 21 absent appeal win

CALLAN JMB INC.

• Oct 12, 2026 Staff Determination: company failed to complete capital raising and meet the $2,500,000 stockholders' equity requirement under Nasdaq Listing Rule 5550(b)(1).
• Trading of CJMB would be suspended at the open on Oct 21, 2026 and a Form 25-NSE filed to remove the stock from Nasdaq listing and registration.
• Callan JMB requested a Nasdaq Hearings Panel appeal on Oct 14, 2026, which stays the suspension and the Form 25-NSE filing pending the Panel's decision.
• Initial deficiency letter came April 7, 2026; Nasdaq had granted an extension to October 5, 2026 to regain compliance.
• Company says it will vigorously demonstrate compliance, but gives no assurance the Panel grants continued listing or that it regains compliance.