UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
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Item 1.01. Entry into a Material Definitive Agreement.
As previously disclosed , on August 26, 2026, Callan Power LLC (the “Buyer”), a Nevada limited liability company and a wholly-owned subsidiary of Callan JMB Inc. (the “Company”), entered into an Asset Purchase and Sale Agreement (the “APA”) with The Pfanenstiel Company, LLC, an Oklahoma limited liability company (the “Seller”), pursuant to which the Buyer agreed to acquire fifty percent (50%) of the Seller’s right, title and interest in certain oil and gas leases and mineral interests on properties located in North Dakota and Montana.
On October 16, 2026, the Buyer notified the Seller that the Buyer and the Company reached the conclusion that the diligence conducted was not sufficient to support a decision to proceed with the transaction at this time. Accordingly, Buyer has exercised its right to terminate the APA with immediate force and effect. As a result of the termination, the Company will no longer need to raise additional capital to consummate the acquisition.
The parties may continue to evaluate a potential future transaction on different terms; however, there can be no assurance that any such transaction will be agreed upon or consummated.
Forward-Looking Statements
This Report and the exhibit(s) attached hereto, including the disclosures set forth herein, contain certain forward-looking statements that involve substantial risks and uncertainties. When used herein, the terms “intends,” “anticipates,” “expects,” “estimates,” “believes” and similar expressions, as they relate to us or our management, are intended to identify such forward-looking statements.
Forward-looking statements in this Report or hereafter, including in other publicly available documents filed with the Commission, reports to the stockholders of the Company and other publicly available statements issued or released by the Company involve known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. Such future results are based upon management’s best estimates based upon current conditions and the most recent results of operations. These risks include, but are not limited to, the risks set forth herein and in such other documents filed with the Commission, each of which could adversely affect the Company’s business and the accuracy of the forward-looking statements contained herein. The Company’s actual results, performance or achievements may differ materially from those expressed or implied by such forward-looking statements. The Company expressly disclaims any obligation or intention to update these forward-looking statements contained in this Report.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are being filed herewith:
| Exhibit No. | Description | |
| 104 | Cover Page Interactive Data File (embedded with the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: October 19, 2026 | Callan JMB Inc. | |
| By: | /s/ Wayne Williams | |
| Name: | Wayne Williams | |
| Title: | Chief Executive Officer | |