CHARLIES HOLDINGS INC - CHUC STOCK NEWS

Charlie's Holdings (OTCQB:CHUC) is set to launch SBX: America's Best Vape™, a revolutionary disposable device featuring patented Metatine™. SBX offers a legal alternative to flavored nicotine vapes across most of the United States. Key features include:

• 20ml capacity with 25,000 puffs
• Dual Mesh Coil for better taste
• Three power modes and customizable airflow
• Ten popular Charlie's flavors

SBX is not subject to regulatory restrictions that apply to most flavored vapes, as Metatine is not classified as a tobacco product. Charlie's believes this breakthrough will provide long-term competitive advantages in the vapor market. The product will be introduced at the National Association of Convenience Stores Convention in Las Vegas, October 8-10.

Charlie's Holdings (OTCQB: CHUC) reported its Q1 2024 financial results, showing a 24% revenue decrease to $3.1 million compared to Q1 2023. Despite this, gross profit increased by 6% to $0.9 million, and operating expenses decreased by 22% to $1.9 million. This led to a reduction in operating loss by 38% to $0.9 million, and net loss decreased by 25% to $1.0 million. Key initiatives include the development and launch of the SPREE BAR product line, using the new Metatine nicotine substitute. The company is focusing on increasing market awareness and preparing for further product launches in the second half of 2024.

Charlie's Holdings, Inc. reported a decrease in revenue and gross profit for 2023, along with an increase in operating loss and net loss. Despite financial challenges, the company achieved significant business milestones, including the launch of the SPREE BAR product line with proprietary Metatine(TM) inside and the development of age-gating technology to address FDA concerns.

Charlie's Holdings, Inc. (OTCQB:CHUC) reported Q3 2023 financial results, showing a decrease in revenue and gross profit. The company also announced SPREE BAR Master Distributor Agreements, purchase orders, and cash deposits received. FDA Acceptance Letters for the Company's 2022 Pre-Market Tobacco Application will be issued, and the FDA will place Charlie's applications into filing review.

Charlie's Holdings, Inc. plans to launch SPREE BAR™ in September, which is considered the single largest and most important commercial product in the company's history. In the second quarter of 2023, revenue decreased by 46% to $4.0 million, gross profit decreased by 26% to $2.1 million, and operating loss decreased by 93% to $0.042 million. For the first half of 2023, revenue decreased by 48% to $8.0 million, gross profit decreased by 54% to $3.0 million, and operating loss increased by $1.4 million to $1.6 million. The company appointed Michael D. King as a director and issued $1.4 million in unsecured promissory notes to executives and stockholders. They also fully repaid the outstanding principal balance and accrued interest on its Receivables Financing Agreement. The company implemented aggressive expense reductions and the executives voluntarily reduced their compensation to mitigate the impact of the weak legacy business.

Charlie's Holdings, Inc. announces its First Annual Shareholder Meeting, where they will discuss their transition to nicotine substitute products and the launch of SPREE BAR. The Company believes this transition will lead to significant sales and market share in the vapor products marketplace in 2024 and beyond. Shareholders and the public can attend the meeting by submitting reservations in advance.

Charlie's Holdings, Inc. announces the national launch of SPREE BAR, a flavored disposable product line that aims to disrupt the e-cigarette industry. SPREE BAR features a proprietary nicotine substitute called Metatine and offers adult consumers the same satisfaction as nicotine disposables without nicotine. The product is not subject to FDA requirements and is priced at less than half of industry-leading disposable vapes. Charlie's believes that the introduction of SPREE BAR will give the company a competitive advantage in the vapor and alternative products marketplace.

Charlie's Holdings, Inc. (OTCQB: CHUC) reported a 23% revenue growth for 2022, achieving a record $26.4 million. Despite revenue gains, the company experienced a 10% decrease in gross profit to $10.0 million and incurred an operating loss of $1.8 million, contrasting with a profit in 2021. The net loss reached $1.6 million, showing a significant drop from a net income of $4.8 million in the prior year. Charlie's has initiated investments in novel vapor products, including an alternative nicotine substitute, Metatine, and is developing patented age-gating technology to comply with FDA regulations. The company aims to expand its international market reach and enhance its product offerings in the growing alternative cannabis sector.

Goldman Small Cap Research has released a new research report on Charlie's Holdings, Inc. (OTCQB:CHUC), highlighting the company's leadership in producing alternatives to combustible cigarettes. The report discusses CHUC's projected revenue growth, estimating $26.5M in 2022, $44M in 2023, and $75M in 2024, representing a 41% CAGR. Despite this growth, CHUC is trading at significant discounts compared to its peers, with prices under 1x 2022 revenue and 1.8x 2023 revenue. Analyst Rob Goldman suggests that the undervaluation stems from investors' focus on future FDA approvals instead of current revenue achievements. The report sets a 6-9 month price target of 1.8x 2023 revenue, indicating a potential narrowing of the valuation gap with industry peers.