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Charlie's Holdings, Inc. formulates, markets, and distributes e-cigarette liquids and vaping systems in the United States. They also offer energy drinks under the Bazi brand name. The company sells its products through distributors, specialty retailers, and third-party online resellers to approximately 90 countries, including the United Kingdom, Italy, Spain, Belgium, Australia, Sweden, and Canada. Formerly known as True Drinks Holdings, Inc., the company changed its name to Charlie's Holdings, Inc. in 2014 and is headquartered in Costa Mesa, California.
Charlie's Holdings, Inc. (OTCQB:CHUC) is transitioning to a board with a majority of independent directors, as announced on November 3, 2021. CEO Brandon Stump has resigned to facilitate this transition, while remaining the largest shareholder after investing an additional $3 million. Inside directors Keith Stump and David Allen are also resigning. The company aims to uplist to a national securities exchange and plans to appoint new independent directors by January 1, 2022. The executive management team, led by COO Ryan Stump and President Henry Sicignano, is recognized for their expertise and is expected to drive future growth.
Charlie's Holdings, Inc. (OTCQB:CHUC) announced that its Premarket Tobacco Product Applications (PMTAs) for its top-selling e-liquids have passed the FDA's filing review and entered the Substantive Review phase. This positions the company favorably compared to competitors, as over 992,000 flavored e-cigarette products received Marketing Denial Orders, while Charlie's submissions include over $5 million in scientific data and studies aimed at proving public health benefits. The company anticipates a competitive advantage leading to increased sales and market share.
Charlie's Holdings, Inc. (OTCQB: CHUC) reported a 31% revenue increase to $5.4 million for Q2 2021, alongside an operating loss reduction of 78% to $168,000. The gross profit rose 9% to $2.6 million. Key advancements included the FDA's PMTA submission for top-selling e-liquids and the launch of Pachamama Disposables. The company aims for profitability, supported by a solid balance sheet and strong market momentum.
Charlie's Holdings, Inc. (OTCQB:CHUC) announced its uplisting from the OTC Pink Market to the more prestigious OTCQB Venture Market, effective August 3, 2021. This shift enhances the company's visibility and credibility in capital markets. Charlie's aims to appeal to a broader investor base and move closer to uplisting on a national exchange. The company is also navigating the FDA's Premarket Tobacco Application process and has projected revenue growth for 2021. Improved financials and compliance with OTCQB standards signify a positive trajectory for the company.
Charlie's Holdings, Inc. (OTC Pink:CHUC) announced a 1-for-100 reverse stock split effective June 16, 2021, with necessary approvals from FINRA. The share count will reduce from approximately 20.3 billion to 203.2 million, enhancing capital markets appeal and supporting a future uplisting to a national exchange. The split aims to attract a broader investor base, and following the split, shares will temporarily trade as CHUCD for 20 days. The company anticipates growth in revenue for FY 2021 compared to 2020, supported by recent stock purchases totaling $3 million by executives.
Charlie's Holdings, Inc. (OTC PINK:CHUC) announced its best-selling e-liquids have received inclusion on the FDA's list of deemed new tobacco products, following timely submission of a Premarket Tobacco Product Application (PMTA). This marks a significant milestone as Charlie's is one of the few companies to pass the FDA's filing phase and enter the Substantive Review phase. Charlie's commitment to regulatory compliance is expected to provide a competitive edge, potentially boosting sales, profits, and market share, while other firms face product withdrawals.
Charlie's Holdings, Inc. (OTC PINK:CHUC) reported significant improvements for Q1 2021, with revenue rising 3% to $4,361,000 from Q4 2020, despite a 1% year-over-year decline. Gross profit increased more than 14% to $2,418,000, with gross margin expanding to 55%. Operating loss decreased by 95% to $229,000. The company closed a $3 million capital raise and introduced the new Pachamama Disposables™ line. Charlie's PMTA is under substantive review with the FDA, providing a potential competitive edge in the premium e-liquid market.
Charlie's Holdings, Inc. (OTC PINK:CHUC) announced the appointment of Matt Montesano as Chief Financial Officer, effective May 10, 2021. Montesano previously served as CFO for Charlie's Chalk Dust and has experience in financial strategy and SEC reporting. David Allen, the former CFO, will transition to a position on the Board of Directors, leveraging his 24 years of public company experience. The leadership change aims to strengthen management as the company navigates growth in the e-cigarette and CBD markets.
Charlie's Holdings, Inc. (OTC PINK: CHUC) announced its introduction of nine Pachamama Disposable™ e-cigarettes at the Tobacco Plus Expo in Las Vegas from May 12-14, 2021. This marks the company's entry into the U.S. disposable e-cigarette market, with products featuring 100% tobacco-free nicotine in various flavors. Additionally, they will showcase Sleep Well Gummies, a new CBD product designed for relaxation. Both product lines are targeted at independent retailers and focus on providing better options for adult smokers.
Charlie's Holdings, Inc. (OTC PINK:CHUC) announced strong customer demand for its new Sleep Well Gummies, launched under the Pachamama™ brand. These gummies are formulated with CBD, CBN, and melatonin to promote relaxation and healthy sleep, while supporting the immune system with elderberry extract. The product has sold out in less than four weeks, indicating high market interest. Charlie's plans to restock in May and will showcase the gummies at the Tobacco Plus Expo in Las Vegas from May 12-14.
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