POTOMAC, Md., Jan. 24, 2022 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV) announces Lieutenant General, United States Army, Retired Bernard (Bernie) Champoux joined the Company's Advisory Board. Castellum's Advisory Board seats experienced business leaders and senior cybersecurity/information technology (IT) executives with business, government, and technical expertise, useful in fostering the Company's growth.
" Castellum continues to focus on growth with an integral part of the growth stemming from access to an Advisory Board that provides meaningful contributions," said Mark Fuller, President, and CEO of Castellum. "Bernie brings exceptional leadership experience in the Army and a multi-national company in the defense sector. This experience will foster our continued and sustained growth."
Bernie Champoux joined Hanwha Defense in May 2017, where he formed and led the establishment of their US & Americas business for four years before moving to Government Relations in May 2021. Before Hanwha, he consulted for Lockheed Martin , L3Harris , CENTRA Technology , Analytical Services (ANSER), and the Defense Science Board. He is a founding Director at the Korea Defense Veterans Association , the National Defense Industrial Association, and Vice Chairman of the Korean War Veterans Memorial Foundation.
Bernie served nearly 39 years in the US Army commanding from platoon through field army in light, mechanized, and motorized Infantry, with multiple tours in the US Army Rangers and numerous operational deployments, including over three years in combat. He led the 25th Infantry Division as the last Division Headquarters in Iraq during Operation New Dawn.
Bernie was the Executive Officer to the Commander in Chief, United States Southern Command , and the Executive Assistant to the Vice Chairman of the Joint Chiefs of Staff. He was also both the Deputy and Chief of Legislative Liaison, Office of the Secretary of the Army.
Following in his father's footsteps who served as a company commander during the Korean War, Bernie served almost four years in the Republic of Korea. He culminated his tour of duty as the Commander of the Eighth Army while simultaneously serving as the Chief of Staff for United Nations Command, ROK-US Combined Forces Command , and United States Forces Korea. He received the Gukseon Medal, Order of National Merit from the ROK government, and the Department of Defense Distinguished Service Medal to contribute to the ROK-US Alliance.
Bernie received his BA from Saint Anselm College and graduated from the US Army War College and the Army Strategic Leader Development Program.
About Castellum, Inc.
Castellum, Inc. (OTC: ONOV) is a technology service and solutions company executing strategic acquisitions in Cyber Security, Information Technology, Information Warfare, Electronic Warfare, Systems Engineering, Software Engineering, and Software Development. The Company recently announced its latest letter of intent to acquire an East Coast government contractor with over $4 million of revenue.
Forward-Looking Statements: This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning the Company's future events or future performance. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should carefully review various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
Corvus Consulting, LLC is fully owned subsidiary of Castellum, Inc.
POTOMAC, Md., Jan. 10, 2022 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV) announces that Glen Ives, Chief Growth Officer takes on additional responsibilities as the President of Government Sales and Operations.
“Since joining Castellum in February 2021, Glen has been instrumental in our organic growth and acquisition successes,” said Mark Fuller, CEO of Castellum. “In his new role he will have executive management responsibilities for all of the acquired entities as he continues to drive growth and manage operations.”
Jim Enicks, CEO of Castellum’s subsidiary Corvus Consulting departed at the end of 2021 to pursue other opportunities. “During his leadership role in Corvus he built a strong business development and proposal capability,” noted Mark Fuller. “We are appreciative for these contributions during his tenure.”
Two other management additions were also announced. Craig Nixon , an Advisory Board Member since March of 2021 has joined Castellum as a Senior Advisor to Mark Fuller, CEO of Castellum. “In this role he will focus on opportunities within SOCOM and across the Army along with identifying potential acquisition targets,” stated Fuller. “Having run a large government contractor that grew through acquisitions as well as organically, Craig has an appreciation and understanding for the business plan we are executing and will further add to our ability to continue to our growth.”
Daniel Turissini has joined Castellum as the head of Technology Development and Compliance. “Dan’s knowledge across these areas will be focused on developing internal service capabilities that are complementary to the services currently offered by Castellum,” said Fuller. “These capabilities will offer existing and new customers new services that will help them to execute their individual and collective national security related missions.”
About Castellum, Inc. Castellum, Inc. (OTC: ONOV) is a technology services and solutions company executing strategic acquisitions in Cyber Security, Information Technology, Information Warfare, Electronic Warfare, Systems Engineering, Software Engineering and Software Development. The Company recently announced its latest letter of intent to acquire an East Coast government contractor with over $4 million of revenue.
Forward-Looking Statements: This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Contact: Mark Fuller, CEO
info@castellumus.com
(301) 961-4895
POTOMAC, Md., Dec. 27, 2021 (GLOBE NEWSWIRE)
-- Castellum, Inc. (OTC: ONOV)
announces the signing of a letter-of-intent (LOI) to acquire an East-coast based government contractor generating over $4 million in annualized revenue. Subject to due diligence and the execution of a definitive purchase agreement, the Company hopes to close the acquisition in the first quarter of 2022.
“We are happy to announce our next LOI, which adds more than 25 employees and further strengthens our past performance by adding more capabilities in Information Warfare/Information Operations (IW/IO) serving the special operations community,” said Mark Fuller, President and CEO of Castellum. “Combined with some organic growth
that we have seen recently; this accretive acquisition will push Castellum above the $40 million run-rate threshold. We also continue to look at other potential acquisitions.”
About Castellum, Inc.
Castellum, Inc. (OTC: ONOV) is a defense-oriented technology company which is executing strategic acquisitions in the cyber security, information technology and software, information warfare, and electronic warfare and engineering services space - http://castellumus.com/.
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements. For the potential acquisition announced today, there is a risk that the LOI does not translate into a closed transaction.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/281c27d6-9bce-408d-b209-3dd43a26876b
POTOMAC, Md., Sept. 16, 2021 (GLOBE NEWSWIRE)
-- Castellum, Inc. (OTC: ONOV)
announces the signing of a Letter of Intent (LOI) to acquire an East-coast based government contractor generating approximately $2 million per year in revenue. Subject to due diligence and the execution of a definitive agreement, the Company hopes to close the acquisition by the end of October 2021.
“We are very pleased to announce to our shareholders that we have identified another accretive acquisition which is now under LOI,” said Mark Fuller, President and CEO of Castellum. “This transaction, should we close it, would increase our revenue run-rate to over $35 million. We also are looking at other opportunities which fit our acquisition strategy.”
About Castellum, Inc. Castellum, Inc. (OTC:ONOV) is a defense-oriented technology company which is executing strategic acquisitions in the cyber security, information technology and software, information warfare, and electronic warfare and engineering services space. http://castellumus.com/
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements. For the potential acquisition announced today, there is a risk that the LOI does not translate into a closed transaction.
Contact:
Mark Fuller, CEO
info@castellumus.com
301-961-4895
POTOMAC, Md., Aug. 16, 2021 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV)
announces that it has acquired Specialty Systems, Inc. (SSI) a Toms River, New Jersey
based government contractor. Castellum also has posted its record second quarter financial results at www.otcmarkets.com.
SSI provides critical mission support to the Navy at Joint Base McGuire-Dix-Lakehurst in the areas of software engineering, cyber security, systems engineering, program support and network engineering. The company was founded by the CEO, Emil Kaunitz and will bring nearly 90 employees to the Castellum family of companies.
“My long-time business partner, Bill Cabey, COO of SSI, and I, along with the rest of the SSI team, are very excited about becoming part of Castellum with all of us remaining at SSI in our current roles,” said Mr. Kaunitz. “Our customers will continue to enjoy the same high level of support that they have come to expect over the last 43 years along with new capabilities that we can now bring from Castellum.”
“Operationally, the exceptional team of professionals at SSI brings new and expanded expertise that Castellum can offer to existing and future customers,” noted Mark Fuller, President and CEO of Castellum. “This acquisition is immediately accretive to both revenue and EBITDA per share and, along with our recently announced Merrison Technology transaction, establishes a $33 million dollar annualized revenue run rate for our company that takes us to another level in competing for larger government contracts.”
Castellum’s overall financial picture continues to strengthen. Revenue for Q2 2021 was a record $4.19 million. Adjusted EBITDA, a non-GAAP measure, was approximately $260,000 (excluding non-cash depreciation, amortization, and stock compensation). Cash-on-hand at quarter end was over $2 million, Current Assets were a record $4.58 million and net working capital was a record $3.19 million, up from $2.23 million in Q1.
“Our business continues to generate excellent results,” said Mark Fuller, President, and CEO of Castellum. “Revenue remained strong in Q2 and adjusted EBITDA continues to be positive while we grow through acquisition and new business. Our liquidity and overall balance sheet continue to improve. This continued growth and positive outlook for the balance of 2021 and beyond is important as we begin the process of looking to up-list to the NYSE American.”
About Castellum, Inc.
Castellum, Inc. (OTC:ONOV) is a defense-oriented technology company which is executing strategic acquisitions in the cyber security, information technology, information warfare, software engineering, and electronic warfare space. In June 2019, the company brought on a new management team specifically to pursue an acquisition-led growth strategy - http://castellumus.com/ .
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Contact:
Mark Fuller, President & CEO
info@castellumus.com
301-961-4895
POTOMAC, Md., Aug. 05, 2021 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV) announces signing and closing on a definitive merger agreement with Merrison Technologies LLC , a Virginia limited liability company (“Merrison”), effective immediately.
Merrison is a government contractor with approximately $3 million in profitable revenue. The transaction will be immediately accretive to Castellum’s revenue and EBITDA per share and will increase Castellum’s revenue to approximately $19 million in annualized run-rate.
Castellum is also in late-stage discussions with another, previously announced , company which it is looking to close in August.
“Merrison is an excellent add-on addition to the Castellum family, bringing with it a strong relationship with CACI and expertise in software engineering and IT in the classified arena,” said Mark Fuller, President and CEO of Castellum. “Merrison also brings us an excellent team with Andrew Merriman, President, and his team of nearly 20 experienced people. We are happy to welcome the entire Merrison team to Castellum.”
About Castellum, Inc . Castellum, Inc. (OTC:ONOV) is a defense-oriented technology company which is executing strategic acquisitions in the cyber security, information technology, information warfare, software engineering, and electronic warfare space. In June 2019, the company brought on a new management team specifically to pursue an acquisition-led growth strategy. The company completed its first acquisition in November 2019. Merrison represents the Company’s third acquisition - http://castellumus.com/ and https://merrison-tech.com/
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Contact:
Mark Fuller, CEO
POTOMAC, Md., June 22, 2021 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV) announces the signing of a Letter-of- Intent (LOI) to acquire a U.S. East coast-based government contractor generating approximately $3 million in revenue. Subject to due diligence and the execution of a definitive stock purchase agreement, the Company hopes to close the acquisition by the end of August 2021.
“We are happy to announce our next LOI, which will further strengthen our MFSI subsidiary
by adding business intelligence, integration, and large data analytics,” said Mark Fuller, President and CEO of Castellum
. “We also would like our shareholders to know that the previously announced $14 million acquisition
is proceeding through due diligence and is currently on track to close in July 2021. Together, these transactions should give us approximately a $35 million revenue run-rate, sufficient to enable us to begin the up-listing process to the NYSE MKT
.”
About Castellum, Inc.
Castellum, Inc. (OTC:ONOV) is a defense-oriented technology company which is executing strategic acquisitions in the cyber security, information technology and software, information warfare, and electronic warfare and engineering services space - http://castellumus.com/
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements. For the potential acquisition announced today, there is a risk that the LOI does not translate into a closed transaction.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5e2a08b0-01f7-4eec-8fc7-3aa94a51181b
POTOMAC, Md., May 12, 2021 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC: ONOV) announces record revenue for the quarter ended March 31, 2021 and its fifth consecutive quarter of positive adjusted EBITDA. The Company expects to file its 2021 Q1 report at www.otcmarkets.com
within the next 7 days.
Castellum’s financial picture continues to improve. Revenue for Q1 2021 was a record $4.02 million up 17.7% from Q1 2020 revenue of $3.42 million. Adjusted EBITDA, a non-GAAP measure, was approximately $280,000. Cash on hand at quarter end was $1.96 million (versus $1.19 million a year ago). Current Assets were $4.22 million, up from $3.44 million a year ago.
“The continued growth in our business and strengthening of our balance sheet is very heartening,” said Mark Fuller, President, and CEO of Castellum. “We look forward to closing on our current LOI later this quarter which will move us to above a $30 million run rate and position us to uplist. We also anticipate seeing some solid organic growth over the balance of the year as our Corvus subsidiary continues to excel. The goal remains the same: growth both organically and inorganically to drive shareholder value.”
About Castellum, Inc. Castellum, Inc. (OTC :ONOV) is a technology company which is executing strategic acquisitions in the cyber security, information technology and software, information warfare, and electronic warfare space. In June 2019, the company brought on a new management team specifically to pursue an acquisition-led growth strategy. The Company completed its first acquisition in November 2019 and its second acquisition in Q1 of 2021 - http://castellumus.com/.
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Contact:
Mark Fuller, CEO
info@castellumus.com
301-961-4895
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/45a34d06-063c-47e5-9245-4e747642a82d
POTOMAC, Md., April 27, 2021 (GLOBE NEWSWIRE) -- Castellum, Inc. (OTC:ONOV) announces the signing of a letter of intent (LOI) to acquire a US East-coast based government contractor, generating approximately $14 million in revenue. Subject to due diligence and the execution of a definitive merger agreement, the Company hopes to close the acquisition by the end of June 2021.
Mark Fuller, President and CEO of Castellum, Inc., states, “We are very pleased to announce to our shareholders that we have identified and inked a strong third acquisition. This transaction, should we be able to close it, would give us over a $30 million revenue run-rate, sufficient to enable us to begin the up-listing process to the NYSE MKT . Additionally, our Corvus business and recently acquired MFSI both are performing in line with our expectations and have developed strong qualified business pipelines. Each subsidiary has significant growth opportunities this year which could move our revenue even higher going forward.”
About Castellum, Inc.
Castellum, Inc. (OTC:ONOV) is a defense-oriented technology company which is executing strategic acquisitions in the cyber security, information technology and software, information warfare, and electronic warfare and engineering services verticals - http://castellumus.com/
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements. For the potential merger announced today, there is a risk that the LOI does not translate into a closed transaction.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0b4f1f04-4a7f-4d15-b881-7b8806c7b57c
BETHESDA, Md., March 15, 2021 (GLOBE NEWSWIRE) -- Castellum, Inc. (ONOV: OTC) today provides the following Corporate letter updating its shareholders:
Dear Fellow Shareholders,
As we approach spring and the winding down of the Covid-19 health crisis, we at Castellum are pleased to share with you this update. Much has been accomplished already this year and we have more to come.
We have finished our second full annual audit by RSM . Our 2020 revenue came in at $13.3 million, up over 20% versus comparable 2019 numbers. Our business development at our subsidiary Corvus has significantly ramped-up, as Jim Enicks and his team have built over a $300 million 5-year qualified pipeline of opportunities for future growth. While we will not close all of that business, we should get our fair share – and a reasonable share will lead to continued growth in Corvus’s business. We anticipate generating at least $15.3 million in revenue at Corvus this year, and over $20 million in 2022. While net income on a GAAP basis is still negative as we amortize certain intangible assets, operating profit excluding non-cash stock compensation was a solid $1.3 million in 2020. We expect that number to increase in 2021. Completing a second year of audits positions, Castellum could potential up-list our stock to the NYSE MKT or other suitable exchange once we exceed $25 million in revenue.
On February 2, 2021, Castellum welcomed Glen Ives , formerly the President and CEO of Sabre Systems, as the Chief Growth Officer and CEO of Castellum’s newly formed Navy and Marine Corp Division. Glen grew his previous company from $40 million to $80 million during his tenure and brings with him acquisition targets and key customer relationships in the Navy/Marine Corps as well as other non-DoD entities. Investing in human capital that can grow our business at all levels will remain a key element to our continued success.
Also, in February 2021, we restructured and extended our promissory note with Laurie Buckhout , the former owner of Corvus, pushing the maturity out to 2024 and starting to amortize the principal of that loan. Combined with our growing cash levels, our balance sheet continues to strengthen. Net working capital increased from $1.6 million at year-end 2019 to $2.9 million at year-end 2020.
On January 1, 2021, Castellum acquired MFSI Government Group in an all-stock transaction. MFSI through its CEO, George Tronsrue, brings to Castellum past performance in software engineering and strong customer and prime contractor relationships. The past performance has enabled our Corvus subsidiary to pursue multiple new opportunities with existing and new customers. MFSI adds approximately $2 million in profitable revenue to Castellum.
So, as you can see, we have already had some significant wins this year. Going forward, we have several additional goals for 2021. As mentioned, we expect to see strong 15%+ organic growth at Corvus this year. Glen Ives is expected to start construction of a Navy division. Also, MFSI will serve as a catalyst for additional growth, and we are working on our next acquisition. We have financing sources already in position, both senior lenders and mezzanine capital. There are over a dozen potential acquisitions under review with a couple that we especially like. We hope to sign an LOI for our next deal within the next 90 days. The roadmap, therefore, is to do our next acquisition and then look at up-listing.
Thank you to all of our employees, shareholders, and partners for a terrific 2020. 2021 and the future promise to be even brighter.
About Castellum, Inc. Castellu m , Inc. (OTC: ONOV) is a technology services and solutions company executing strategic acquisitions in Cyber Security, Information Technology, Information Warfare, Electronic Warfare, Systems Engineering, Software Engineering and Software Development. The Company recently acquired MFSI after purchasing Corvus Consulting in 2019. The Company continues in discussions with multiple acquisition candidates and, also, has numerous efforts ongoing as a potential prime contractor for multiple customers.
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Mark Fuller, CEO