JFB Construction Holdings Class A Common Stock

A known event soon (earnings, a ruling, etc.) will likely decide the next move.

Florida-construction shell pivots into pending $1.5B merger with XTEND defense-drone AI.

JFB Construction Holdings is a Florida-based commercial and residential construction shell company in the middle of a transformative ~$1.5B pending merger with XTEND, an AI-powered defense drone and robotics company carrying a ~$70M+ backlog and ~$500M+ pipeline. The XTEND catalyst stack is unusually rich for the cap size: XTEND was selected for Phase II Qualifier of the U.S. Department of Defense's $1 Billion Drone Dominance Program (May 28), expanded into the UK with a £1.93M defense order plus launch of a localized XFAB facility (May 20), and secured a seven-figure defense ISR order in the Asia-Pacific (May 14). Q1 2026 standalone JFB results: revenue $10.47M (+77% YoY, -8.4% QoQ), gross margin 12.4%, op margin -33%, EPS -$0.25. No reported insider transactions. Numerically: market cap $86.5M, TTM PE -8.7, PS 2.96, FCF yield -12.4%, debt/equity 0.04, gross margin 10.2%, op margin -31%, beta 2.78, the stock down 25% YTD but +109% T12M, at ~22% of its 52-week range, -7% vs the 50-day average and -25% vs the 200-day, day -6.6%, float just 2.55M (tiny). Independent take: this is a binary on the XTEND merger close — if it lands, JFB becomes a publicly-traded defense-drone pure-play with US DoD Drone Dominance + UK + Asia-Pac exposure on a tiny float; if it stalls or is restructured, the equity reverts to a sub-$100M Florida construction company. The asymmetry is the entire setup.