Castellum Says Now Well Positioned To Execute On 2024 Budget Starting In January

(RTTNews) - Castellum Inc. (CTM) said Friday that it is now well positioned to execute on its 2024 budget starting in January, where it projects $50 million in revenue and $3.5 million in recurring cash operating profit for the 2024 calendar year.

The company said it is looking at some key initiatives including potential mergers, both forward and reverse, acquisitions which could help the company get to economic scale--which the company defines as $80 million in revenue and 7.5% or better cash operating profit--, and other things to improve shareholder value.

Castellum noted that, with the expiration of the 12-month EF Hutton engagement lockup, the company can now interview other investment bankers and get different perspectives on rebuilding some of the shareholder value lost over the past year.

Part of that process will involve continuing to pay down bank debt while looking to term out, pay down, or otherwise restructure non-bank debt and also looking to get some flexibility to repurchase stock if the board feels that the market is substantially undervaluing common equity.