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Castellum, Inc. (NYSE American:CTM), a management consulting services firm with a market capitalization of $90.34 million, reported the outcomes of its annual stockholder meeting held on May 28, 2025. The company’s stock has shown remarkable momentum, delivering a 417% return over the past six months, according to InvestingPro data. The meeting saw the election of six directors to the company’s board, the ratification of the company’s independent registered public accounting firm, and the approval of amendments to stock incentive and employee stock purchase plans. While the company is currently not profitable, InvestingPro analysis indicates strong financial health with a current ratio of 2.93, suggesting robust liquidity management.
During the meeting, stockholders elected Mark S. Alarie, John F. Campbell, Bernard S. Champoux, Glen R. Ives, C. Thomas McMillen, and Jay O. Wright to serve on the board until the next annual meeting. Votes cast for the directors ranged from 24,610,561 to 31,988,120, with withheld votes ranging from 181,901 to 7,559,460 and broker non-votes consistently at 17,790,068 for all directors.
Additionally, stockholders ratified the appointment of RSM US LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. This proposal received 47,509,563 votes for, 261,837 against, and 2,188,689 abstentions.
The third proposal, which involved an amendment to the Castellum, Inc. Amended 2021 Stock Incentive Plan to increase reserved shares for issuance to 9,000,000, was approved with 27,925,938 votes for, 2,011,355 against, 2,232,728 abstentions, and 17,790,068 broker non-votes.
Lastly, the adoption of the Castellum, Inc. 2025 Employee Stock Purchase Plan was approved with 31,678,581 votes for, 305,203 against, 186,237 abstentions, and 17,790,068 broker non-votes.
The meeting’s full results are detailed in the company’s 8-K filing with the Securities and Exchange Commission. This filing also includes additional exhibits, such as the Cover Page Interactive Data File.
This article is based on a press release statement from Castellum, Inc. Analysts maintain a positive outlook for the company, with a consensus price target of $3.00 per share. For deeper insights into Castellum’s financial health and growth prospects, including 8 additional ProTips and comprehensive analysis, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Castellum, Inc. announced a strategic move to amend its debt structure, reducing its principal balance by $2 million, bringing the total owed down to $4 million. The company also extended the maturity date of the remaining note payable to December 15, 2027. Additionally, Castellum reminded holders of its 3,355,000 unexercised warrants that they are set to expire on May 16, 2025, following a successful equity raise in March. In executive updates, Castellum extended the contracts of key officers and amended the terms for its CFO, introducing a new at-will employment arrangement.
The company also reported that its subsidiary, Global Technology and Management Resources, Inc., achieved a Maturity Level 3 appraisal of the Capability Maturity Model Integration (CMMI), a significant milestone that enhances its competitive edge in government contracting. Furthermore, Castellum appointed Tanya Bassett as the new Vice President of Business Development and Capture Management, aiming to leverage her experience to secure larger contracts. These developments underscore Castellum’s ongoing efforts to strengthen its financial health and expand its business opportunities.
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