Key Highlights

  • Callan JMB Inc (NASDAQ:CJMB) traded at USD 0.2683, down 36.30%, on November 2, 2026, implying a prior close near USD 0.42, simple arithmetic on two published numbers.
  • A preliminary information statement filed November 2 covers a reverse split of 1-for-2 to 1-for-20 and a rise in authorized shares from 200,000,000 to 500,000,000, approved by written consent on October 30.
  • Callan JMB (NASDAQ:CJMB) had 10,662,319 common shares outstanding at the October 23 record date, so a 1-for-20 split would leave about 533,116 shares, per the filing's illustration.
  • Nasdaq staff ruled on October 12, 2026 that the company had missed an extension on its USD 2,500,000 stockholders' Equity requirement, and the company requested a hearing on October 14.

The Reverse Split and Share Increase

Callan JMB Inc (NASDAQ:CJMB), a Nevada company based in Spring Branch, Texas, filed a preliminary Schedule 14C on November 2, 2026. Holders of a majority of voting power approved two charter amendments by written consent on October 30, after the board acted on October 27. The board may combine shares at any ratio from 1-for-2 to 1-for-20 within 12 months, with fractions rounded up. Authorized Capital would rise from 200,000,000 to 500,000,000 shares, split into 490,000,000 common and 10,000,000 preferred, which the filing says allows room for financings and acquisitions. Effectiveness is no earlier than 20 calendar days after mailing. The 2024 Equity Incentive Plan reserves 2,000,000 shares, and the largest insider holders are Chief Executive Officer Wayne Williams at about 23.7% and David Croyle, M.D., at about 9.4%.

Nasdaq Deficiency and the Dilution Mechanism

The stated aim of the split is to meet Nasdaq's USD 1.00 minimum bid price. Separately, Nasdaq sent a deficiency letter on April 7, 2026 over the equity rule, extended the deadline to October 5, then determined on October 12 that the company was unable to complete its capital raising initiatives. A hearing request on October 14 stays suspension pending a Panel decision. Callan JMB (NASDAQ:CJMB) also said on October 16 that a buyer terminated a planned purchase of 50% of oil and gas leases in North Dakota and Montana after finding diligence insufficient. More authorized shares let the company issue stock later, which dilutes existing holders, while a reverse split does not change company value. The 8-K adds that, because of the termination, the company will no longer need to raise capital to close that acquisition.

Risks, Inconsistencies and Dates

The draft filing contains placeholders and a mismatch: it gives consenting holders 5,630,392 shares, about 52.8%, but another passage gives about 34%, which the company must reconcile. A split near 1-for-20 could also breach Nasdaq's 500,000 publicly held share requirement, since insider holdings do not count. At a USD 0.2683 quote, Market Value is about USD 2.9 million, simple arithmetic on 10,662,319 shares. A small number of trades can move the price, spreads can be wide and quoted moves can reverse. Watch the Panel decision, the mailing date and any financing.

Where Things Stand

The 36% drop fits a stock facing a hearing on its equity deficiency, a pending reverse split and a request to add 300 million authorized shares that could be used for dilutive financing, though Callan JMB Inc (NASDAQ:CJMB) has not explained the move. The Panel decision and the final information statement are the next checkpoints.