POTOMAC, Md., Aug. 05, 2020 (GLOBE NEWSWIRE) -- Castellum, Inc.’s (OTC:ONOV) President and CEO Mark Fuller provides the following update to the Company’s shareholders:
“We are now beginning the second year of our business plan to build a large listed company in the cyber security, information technology, information warfare, and electronic warfare and engineering services space. Good strides have been made in pursuit of our goals and overall plan. A very strong advisory board has been established composed of highly regarded individuals who provide top-notch advice to our team. Castellum acquired Corvus Consulting in November 2019 and we have subsequently built it into a strong $14 million company with solid profitability (over $550,000 of EBITDA in Q2 alone) and a growing pipeline of new opportunities. With the assistance of Laurie Buckhout, the former owner and current Director of Castellum, we added key leadership executives to Corvus. RSM completed our 2019 audit in Q2 of this year. We have built up a list of multiple potential acquisitions and, just this week, signed a letter of intent to acquire one of them (the company has approximately $20 million in revenue). It has been a very good first year.”
“We are now positioned to have an equally successful second year. Our game plan remains the same: growth both organically and through acquisition to drive shareholder value. Closing the current LOI is a priority while we focus on making at least one more acquisition in the next six months. RSM will perform our 2020 audit in early 2021 after which, in Q2, we plan to begin the process of up-listing Castellum to listed status on either the NYSE or the NASDAQ. By this time next year, it is anticipated Castellum will be over $50 million in revenue with our common stock listed on a major U.S. exchange.”
“I offer a special note of thanks to our shareholders for their steadfast support of Castellum over the past year. All of us at Castellum will continue to work hard over the next 12 months to maintain your trust in us with your investment capital and drive the ROE of our company.”
About Castellum, Inc. Castellum, Inc. (OTC:ONOV) is a technology company which is executing strategic acquisitions in the cyber security, information technology, 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.
Contact:
Mark Fuller, CEO
info@castellumus.com
301-961-4895
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d41cfc99-77d9-4f84-b661-045d1a7ec0bb