Welcome to our dedicated page for Charles & Colvard news (Ticker: CTHR), a resource for investors and traders seeking the latest updates and insights on Charles & Colvard stock.
Charles & Colvard Ltd (CTHR) delivers lab-created moissanite gemstones and fine jewelry through innovative manufacturing and ethical practices. This news hub provides investors and industry observers with official press releases and verified updates about the company's operations.
Access real-time information on financial results, product innovations, and strategic initiatives in the moissanite jewelry sector. Key updates include earnings announcements, retail partnerships, sustainability progress, and technological advancements in gemstone production.
Discover comprehensive coverage of CTHR's dual-channel distribution strategy, including developments in their digital B2B trade portal and traditional retail collaborations. Content spans operational milestones, quality assurance enhancements, and market expansion efforts within the ethical jewelry space.
Bookmark this page for streamlined access to Charles & Colvard's latest corporate communications. Monitor how the company maintains its leadership position through silicon carbide innovation and responsible business practices in the evolving fine jewelry market.
Charles & Colvard announced receiving a staff determination letter from Nasdaq regarding the delisting of its common stock due to non-compliance with Listing Rule 5250(c)(1). The company failed to timely file Forms 10-Q for quarters ending September 30 and December 31, 2024.
The company will not appeal this determination, citing potential cost savings from delisting. Trading suspension will take effect on April 25, 2025. Following delisting, the stock is expected to be quoted on the OTC Experts Market, though trading market maintenance cannot be assured.
Charles & Colvard (Nasdaq: CTHR) has received a notice from Nasdaq on February 25, 2025, regarding non-compliance with Listing Rule 5250(c)(1) due to delayed filing of its Q4 2024 Form 10-Q.
The company had previously received Nasdaq's acceptance of its compliance plan and was granted until April 14, 2025 to file both its FY2024 Annual Report and Q3 2024 Quarterly Report. Nasdaq requires CTHR to submit an updated compliance plan by March 12, 2025.
While the notice does not immediately affect CTHR's Nasdaq listing or stock trading, the company must complete all delinquent filings by April 14, 2025, to maintain compliance. Management states they are working to complete these reports promptly.
Charles & Colvard (NASDAQ: CTHR) has received an interim arbitration award in its dispute with Wolfspeed, Inc. The arbitrators significantly reduced Wolfspeed's original damage claims of $28 million to $3.3 million, consisting of $1.3 million for previously purchased inventory and $2.0 million for consigned inventory. The ruling requires CTHR to pay 8% annual interest from April 24, 2023, arbitration fees, and attorney's fees, excluding costs related to expectation damages claims.
The company views this as a significant victory, as it eliminates a long-term purchase commitment that management believed was hampering growth and profitability. The $2.0 million consigned inventory payment will be recorded as an asset on the company's balance sheet as of June 30, 2024. Wolfspeed must submit its attorney's fees petition by January 4, 2025, with CTHR having 15 days to respond.
Charles & Colvard (Nasdaq: CTHR) received a non-compliance notice from Nasdaq on November 21, 2024, for failing to timely file its Q1 FY2025 Form 10-Q and FY2024 Form 10-K. The company has until December 17, 2024, to either regain compliance or submit a compliance plan. If Nasdaq accepts the plan, CTHR may receive up to 180 calendar days (until April 14, 2025) to file the required documents. While the notice doesn't immediately affect CTHR's Nasdaq listing, the company must address these filing delays to maintain its listing status.
Charles & Colvard (Nasdaq: CTHR) has received a non-compliance notice from Nasdaq on October 18, 2024, for failing to timely file its Annual Report (Form 10-K) for the fiscal year ended June 30, 2024. The filing was due September 30, 2024. The company has until December 17, 2024 to either regain compliance or submit a compliance plan. If Nasdaq accepts the plan, CTHR may receive an extension until April 14, 2025. The notice does not immediately affect CTHR's Nasdaq listing. The company states it is working to complete and file the Form 10-K promptly.
Charles & Colvard, (Nasdaq: CTHR) has responded to a letter from Riverstyx Capital Management regarding director nominations. The company stated that a purported nomination notice from Ben Franklin, a Riverstyx principal, is invalid and will not be recognized. The notice, received on August 27, failed to comply with the company's bylaws by omitting critical information such as candidate biographies, ownership stakes, and candidate consents.
The company's board has invited Mr. Franklin to share his perspectives on the business and strategy directly. Charles & Colvard will make recommendations to shareholders regarding the upcoming Annual Meeting and director elections in due course. Shareholders are not required to take any action at this time.
Charles & Colvard (Nasdaq: CTHR), a notable fine jewelry company specializing in moissanite and lab-grown diamonds, announced on June 6, 2024, that it has regained compliance with Nasdaq's minimum bid price listing requirement. As of May 31, 2024, the company's common stock maintained a minimum bid price of $1.00 per share or greater for 10 consecutive business days. Consequently, the company has met the requirements of Listing Rule 5550(a)(2), officially closing the matter.
Charles & Colvard (Nasdaq: CTHR) has announced an exclusive alliance with the International Gemological Institute (IGI) to provide grading reports for moissanite gemstones and jewelry. This collaboration aims to enhance consumer confidence by offering standardized measures for authenticity and quality. The grading reports will include detailed assessments by expert gemologists using the 4Cs criteria and additional moissanite-specific measures. The initiative targets combating false information and counterfeit products in the market. The reports will initially be available to the trade and later to consumers. Both companies will showcase this development at the JCK Show in Las Vegas from May 31 – June 3, 2024.
Charles & Colvard (Nasdaq: CTHR), a renowned fine jewelry company, announced a one-for-ten (1:10) reverse stock split of its common stock. Effective May 17, 2024, this move aims to comply with Nasdaq’s $1.00 minimum bid price requirement. Post-split, the number of shares will reduce from approximately 30 million to 3 million, with no fractional shares issued. The company's ticker remains 'CTHR'. Shareholders approved the proposal on May 7, 2024, and the North Carolina Secretary of State filed the Articles of Amendment on May 14, 2024. The company’s stock options and equity awards will adjust proportionately.
Charles & Colvard, a fine jewelry company specializing in moissanite and lab-grown diamonds, reported third-quarter fiscal year 2024 financial results. Despite a challenging quarter, the company remains focused on growth through strategic initiatives and technology investments. They saw growth in repeat customers and positive responses to new products and marketing efforts. The company introduced new gemstone brands, expanded product lines, and partnered with a celebrity brand ambassador. However, they experienced a 21% decrease in net sales, primarily in the Traditional segment. Gross profit margin declined to 23%, and operating expenses increased by 13%. The net loss was $3.6 million for the quarter, with cash and inventory decreasing.
