Janel Corp. Files 2024 10-K

TL;DR

Janel Corp. filed its 2024 10-K. All systems go.

AI Summary

Janel Corp. filed its 10-K for the fiscal year ending September 30, 2024, reporting on its business operations. The company, incorporated in Nevada, is based in New York and operates within the business services sector. Previous company names include Janel World Trade Ltd. and Wine Systems Design Inc.

Why It Matters

This filing provides a comprehensive overview of Janel Corp.'s financial performance and business activities for the past fiscal year, crucial for investors and stakeholders to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific financial performance data or forward-looking statements that would indicate a high risk.

Key Players & Entities

• JANEL CORP (company) — Filer
• 0001133062 (company) — Central Index Key
• 7389 (company) — Standard Industrial Classification
• 861005291 (company) — IRS Number
• NV (company) — State of Incorporation
• 80 EIGHTH AVENUE (company) — Business Address
• NEW YORK (company) — City
• NY (company) — State
• 10011 (company) — ZIP Code
• 718-527-3800 (company) — Business Phone

FAQ

Key Financial Figures

• $0.001 — he Act: Title of Class Common Stock, $0.001 par value Indicate by check mark if t

Filing Documents

• ef20034565_10k.htm (10-K) — 2026KB
• ef20034565_ex10-33.htm (EX-10.33) — 81KB
• ef20034565_ex10-34.htm (EX-10.34) — 14KB
• ef20034565_ex19-1.htm (EX-19.1) — 50KB
• ef20034565_ex21.htm (EX-21) — 9KB
• ef20034565_ex23-1.htm (EX-23.1) — 4KB
• ef20034565_ex31-1.htm (EX-31.1) — 13KB
• ef20034565_ex31-2.htm (EX-31.2) — 12KB
• ef20034565_ex32-1.htm (EX-32.1) — 6KB
• ef20034565_ex32-2.htm (EX-32.2) — 5KB
• image0.jpg (GRAPHIC) — 517KB
• image00001.jpg (GRAPHIC) — 3KB
• image1.jpg (GRAPHIC) — 7KB
• image00002.jpg (GRAPHIC) — 6KB
• image2.jpg (GRAPHIC) — 9KB
• image00004.jpg (GRAPHIC) — 2KB
• 0001140361-24-048684.txt ( ) — 11042KB
• janl-20240930.xsd (EX-101.SCH) — 76KB
• janl-20240930_cal.xml (EX-101.CAL) — 99KB
• janl-20240930_def.xml (EX-101.DEF) — 433KB
• janl-20240930_lab.xml (EX-101.LAB) — 921KB
• janl-20240930_pre.xml (EX-101.PRE) — 632KB
• ef20034565_10k_htm.xml (XML) — 1460KB

BUSINESS

BUSINESS 2 ITEM 1A

RISK FACTORS

RISK FACTORS 7 ITEM 1B UNRESOLVED STAFF COMMENTS 20 ITEM 1C CYBERSECURITY 21 ITEM 2

PROPERTIES

PROPERTIES 22 ITEM 3

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 22 ITEM 4 MINE SAFETY DISCLOSURES 22 PART II 23 ITEM 5 MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 23 ITEM 6 RESERVED 23 ITEM 7

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 23 ITEM 7A QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK 34 ITEM 8

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 34 ITEM 9 CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURES 34 ITEM 9A

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 34 ITEM 9B OTHER INFORMATION 35 ITEM 9C DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 35 PART III 36 ITEM 10 DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 36 ITEM 11

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 41 ITEM 12

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 43 ITEM 13 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 45 ITEM 14 PRINCIPAL ACCOUNTING FEES AND SERVICES 45 PART IV 46 ITEM 15 EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 46 ITEM 16 FORM 10-K SUMMARY 49

SIGNATURES

SIGNATURES 50 Table of Contents CAUTIONARY This Annual Report on Form 10-K ("Report") contains certain statements that are, or may be deemed to be, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward – looking statements may generally be identified using the words "may," "will," "intends," "plans," projects," "believes," "should," "expects," "predicts," "anticipates," "estimates," and similar expressions or the negative of these terms or other comparable terminology. These statements are necessarily estimates reflecting management's best judgment based upon current information and involve several risks, uncertainties and assumptions. We caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and readers are advised that various factors, including, but not limited to, those set forth elsewhere in this Report, could affect our financial performance and could cause our actual results for future periods to differ materially from those anticipated or projected. While it is impossible to identify all such factors, such factors include, but are not limited to, our strategy of expanding our business through acquisitions of other businesses we may be required to record a significant change to earnings related to the impairment of acquired assets; we may fail to realize the expected benefits or strategic objectives of any acquisition, or we may spend resources exploring acquisitions that are not consummated risks associated with litigation and indemnification claims and other unforeseen claims and liabilities that may arise from an acquisition changes in tax rates, laws or regulations and our ability to utilize anticipated tax benefits; the impact of rising interest rates on our investments, business and operations; conflicts of interest with the mi

BUSINESS

BUSINESS Our Business Janel Corporation ("Janel," the "Company" or the "Registrant") is a holding company with subsidiaries in three business segments: Logistics, Life Sciences and Manufacturing. The Company strives to create shareholder value primarily through three strategic priorities: supporting its businesses' efforts to make investments and to build long-term profits allocating Janel's capital at high risk-adjusted rates of return and attracting and retaining exceptional talent. Management at the Janel holding company focuses on significant capital allocation decisions, corporate governance and supporting Janel's subsidiaries where appropriate. Janel expects to grow through its subsidiaries' organic growth and by completing acquisitions. We plan to either acquire businesses within our existing segments or expand our portfolio into new strategic segments. Our acquisition strategy focuses on reasonably priced companies with strong and capable management teams, attractive existing business economics and stable and predictable earnings power. Janel was incorporated on August 31, 2000 and is domiciled in the state of Nevada. Its corporate headquarters are located in New York, New York. As of September 30, 2024, Janel and its consolidated subsidiaries employed 334 full-time employees in the United States. None of these employees is covered by a collective bargaining agreement. Janel and its subsidiaries have experienced no work stoppages and consider relations with their employees to be good. Successful execution of our strategy is dependent on attracting, developing and retaining key employees and members of our management team. The skills, experience and industry knowledge of our employees significantly benefit our operations and performance. We continuously evaluate, modify and enhance our internal processes and technologies to increase employee engagement, productivity, efficiency opportunities, skills and resources needed for success. Our Business Segment

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View this 10-K filing on SEC EDGAR