Castellum, Inc. announced a further reduction in the principal balance on a note payable to Robert Eisiminger by $2 million. This latest payment leaves an aggregate principal balance owed of $2 million. The company continues to prioritize strengthening its financial foundation through debt reduction.
CFO David Bell stated that with this paydown, Castellum's total long-term debt is now less than $3 million, a significant change from one year prior. This move underscores Castellum’s focus, strategy, and performance in managing its financial obligations. The reduction in debt improves the company's financial leverage.
CEO Glen Ives emphasized that the continued success in implementing the debt reduction plan strengthens the healthy balance sheet and supports the organic growth strategy. This positions Castellum to make timely investments to win major prime contracts. The company aims to grow stronger for its people, mission customers, and shareholders.
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