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MDJM LTD has demonstrated the ability to raise capital through multiple public offerings, providing liquidity to support its real estate and hospitality operations. The company maintains a positive current ratio and cash ratio, indicating liquidity to meet short-term obligations. Its management has affirmed effective internal controls, and the company has implemented cybersecurity measures aligned with UK regulatory standards. The company’s focus on UK and European real estate markets positions it to benefit from regional market dynamics and potential operational improvements.

The company reported a net loss for 2025 and negative earnings per share, indicating ongoing profitability challenges. Its revenue base is relatively small, and the company’s shares were delisted from Nasdaq due to low share price, which may affect investor confidence and liquidity. The company operates in competitive real estate and hospitality markets subject to economic and regulatory risks. The absence of detailed segment or industry disclosures limits transparency. The company’s reliance on capital raises to fund operations may present dilution risks and execution challenges.

MDJM LTD’s moat is derived from its ownership and management of real estate properties in the UK, a market with regulatory and capital barriers to entry. The company’s established presence in hospitality and real estate development, combined with capital raised through public offerings, supports its operational capacity. Its registration with the UK Information Commissioner's Office and cybersecurity risk management program contribute to operational resilience. However, the company faces typical real estate market risks and competition, with no disclosed proprietary technology or intellectual property.

• Market and Economic Risks: MDJM LTD’s results are influenced by economic conditions and regulatory changes in the UK real estate and hospitality markets, which may affect demand, pricing, and operating costs.
• Profitability and Financial Performance: The company reported net losses and negative EPS, indicating challenges in achieving profitability and sustainable earnings.
• Liquidity and Capital Raising: The company relies on capital raises to fund operations and expansion, which may dilute existing shareholders and depend on market conditions.
• Regulatory and Governance Risks: As a Cayman Islands company listed on OTC Markets, the company follows home country governance practices that differ from U.S. standards, which may affect investor protections.
• Cybersecurity Risks: While the company has implemented cybersecurity programs and has not experienced incidents, evolving cyber threats remain a potential risk to operations.

• MDJM LTD is a Cayman Islands exempted company listed on the OTC Markets under ticker UOKAF after suspension from Nasdaq in March 2026 due to low share price [S1].
• The company operates primarily in real estate development and hospitality markets in the UK and other European countries [S1].
• MDJM LTD completed an initial public offering in 2018 raising net proceeds of approximately $5.7 million, used mainly to purchase UK real estate properties [S1].
• In early 2026, the company completed a follow-on offering and a registered direct offering, raising net proceeds of approximately $5.3 million and $2.1 million respectively, with proceeds intended to support operations and expansion [S1].
• As of December 31, 2025, MDJM LTD had cash and cash equivalents of $700,479 and total current assets of $837,297, with current liabilities of $379,582, resulting in a current ratio of 2.21 and a cash ratio of 1.85 [S1].
• The company reported revenue of $144,863 for the year ended December 31, 2023, and a net loss of $41,321 for the year ended December 31, 2025 [S1].
• Basic and diluted earnings per share were negative $1.36 for the year ended December 31, 2025 [S1].
• MDJM LTD's operations are conducted through UK subsidiaries, and its financial statements are consolidated and presented in U.S. dollars, with functional currencies being GBP and RMB [S1].
• The company has established cybersecurity risk management programs and is registered with the UK Information Commissioner's Office, with no reported cybersecurity incidents affecting operations to date [S1].
• Management assessed and concluded that disclosure controls and internal control over financial reporting were effective as of December 31, 2025 [S1].
• The company’s working capital increased to $457,715 as of December 31, 2025, up 44% from the prior year, despite a decrease in total current assets, reflecting a larger decrease in current liabilities [S1].
• MDJM LTD follows ASC 606 for revenue recognition and ASC 820 for fair value measurements, with financial instruments carried at amounts approximating fair value due to short-term maturities [S1].
• The company’s board of directors includes independent members and follows Cayman Islands corporate governance practices, which differ in some respects from Nasdaq standards [S1].