Sentinel Holdings Ltd. provides private security services, primarily through its subsidiary United Security Specialists Inc., with a focus on armed and unarmed security, and is exploring growth opportunities via acquisitions in related sectors.

# Company Summary: Sentinel Holdings Ltd.

## Business Overview
- **Main Operations**:  
  - Provides **armed and unarmed security services** through its wholly owned subsidiary, **United Security Specialists Inc. (USS)**.  
  - USS offers **professional security personnel**, including **on-site protection, mobile patrol, and event security** enhanced by **smartphone-based security applications**.
- **Secondary Operations**:  
  - Previously focused on **personal protective equipment (PPE)** via its subsidiary, **Gladiator Solutions Inc.**, which produced and sold ballistic products such as body armor, plates, helmets, and shields.  
  - As of mid-2023, PPE sales have ceased due to ongoing litigation; operations remain limited until litigation is resolved. The company plans to relaunch PPE product lines post-litigation.

## Industry and Market Context
- The US homeland security market is projected to grow from ~$189 billion in 2022 to ~$276 billion by 2028 at a CAGR of 6.5%.  
- The private security industry is experiencing increased demand due to underfunded public law enforcement, rising personal security concerns, and heightened physical safety needs for employees and residents.

## Employees and Customers
- **Employees**:  
  - As of December 31, 2024, the company employs **168 employees**: 152 full-time and 16 part-time.  
- **Customers**:  
  - USS primarily serves **diverse clients** including **businesses, residential communities, construction sites, and government agencies** in California.
  - Revenue **dependent heavily on key clients**; for example, in 2024, **87.23% of accounts receivable** were concentrated among a few clients, with at least 53% of sales coming from a few major clients.

## Financials (As of December 31, 2024)
- **Revenue**:  
  - $4,605,338 for the year ended 2024.  
  - A decrease of approximately 47.79% compared to $8,820,348 in 2023.  
- **Income**:  
  - Net loss for 2024: **$8,450,552**, a significant increase from a net loss of **$2,618,965** in 2023.  
  - The net loss increased by approximately 240.22% year-over-year.  
- **Profitability and Margins**:  
  - Gross profit in 2024 was **$413,460** with a gross margin of **9%**, down from **31%** in 2023.

## Strategic Focus
- Continuing to pursue **growth through acquisitions** in **private security, PPE, and defense industries**.
- Regularly assesses new **merger and acquisition opportunities** in sectors including **unmanned systems, space/satellite communications, electronic warfare, and C5ISR** systems.
- Responds to trends like **increased private security demand** due to community safety issues and **cybersecurity and defense sector consolidation** opportunities.

## Litigation & Risks
- Engaged in litigation involving former Gladiator management and financing disputes affecting operations and brand development.
- Growing demand for private security due to **public law enforcement underfunding** and **rising personal safety concerns**.

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**Note**: Financial figures are based on 2024 financial statements, including revenue, net loss, and employee/customer data provided up to December 31, 2024.

James Maritime Holdings Inc. is a diversified company focusing on the distribution of personal protective products and the provision of professional security personnel through its subsidiaries, Gladiator Solutions Inc. and United Security Specialists Inc.

# Summary of James Maritime Holdings Inc.

## Overview

James Maritime Holdings Inc. operates primarily through its subsidiaries, Gladiator Solutions Inc. (majority-owned) and United Security Specialists Inc. (wholly-owned). The company focuses on the distribution of personal protective products and the provision of professional security personnel enhanced by technology.

### Business Segments

1. **Gladiator Solutions Inc.**
   - **Products:** 
     - Personal protective equipment, including ballistic plates, armor carriers, tactical gear, and more.
     - Developed using High-Performance Polyethylene (HPPE) and hybrid UHMWP/Ceramic materials ensuring maximum protection at minimal weight.
   - **Market Position:** 
     - Target customers include federal, state, and local law enforcement agencies, military, and independent security contractors.
   - **Compliance:** 
     - All products tested and certified according to National Institute of Justice standards.
   - **Unique Selling Proposition:**
     - Products come with a 10-year warranty and are delivered in 4-6 weeks.
   - **Recent Developments:**
     - Gained traction in the market due to increased demand for protective equipment, especially amid conflicts like the war in Ukraine.

2. **United Security Specialists Inc. (USS)**
   - **Services:**
     - Offers security services including on-site protection, mobile patrol, and event security.
     - Focuses on high-quality personnel recruitment, training, and technology integration (e.g., real-time reporting via a mobile app).
   - **Key Selling Points:** 
     - Emphasizes on ethics and integrity in service delivery, positioning itself as a reliable security provider.
   - **Recent Trends:**
     - Has noted an increasing demand for private security due to perceived inadequacies in traditional law enforcement.

### Company Statistics

- **Employees:**
  - Total: **168 employees**
    - **152 full-time employees**
    - **16 part-time employees**
- **Customers:**
  - The company serves various sectors, including law enforcement, military agencies, and commercial businesses, but specific customer counts are not disclosed.
- **Financials:**
  - Revenue and income figures are not stated in the provided text, but management reports a commitment to aggressive growth through mergers and acquisitions within an expanding market due to rising security needs.
- **Market Outlook:**
  - Targeting growth in sectors related to personal protective equipment and private security due to an increase in homeland security budgets and a significant growth outlook for the market.

### Strategic Focus

- **Growth Strategy:**
  - James Maritime aims to pursue an aggressive growth-by-acquisition model in the private security and personal protective equipment industries.
  - Recent acquisitions of Gladiator Solutions and USS position the company to leverage growth opportunities amid rising national security budgets and the shifting landscape of public safety.

### Additional Information

- **Headquarters:**
  - Located at 9160 South 300 West, #101 Sandy, UT 84070.
- **Website:** 
  - [Gladiator Solutions](https://gladiatorsolutions.com) 
  - [United Security Specialists](https://www.usselite.com)

The overall focus of James Maritime Holdings is to ensure high-quality protective solutions and services while pursuing strategic growth opportunities in a rapidly evolving security landscape.

Sentinel Holdings Ltd.

10-K / April 28, 2025

10-K / June 26, 2024

10-K / April 28, 2025

Company Summary: Sentinel Holdings Ltd.

Business Overview

Industry and Market Context

Employees and Customers

Financials (As of December 31, 2024)

Strategic Focus

Litigation & Risks