Charles & Colvard, Ltd. Announces Delisting from Nasdaq
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 ha annunciato di aver ricevuto una lettera di determinazione dallo Nasdaq riguardo alla cancellazione delle sue azioni ordinarie a causa del mancato rispetto della Regola di Quotazione 5250(c)(1). La società non ha presentato tempestivamente i Moduli 10-Q per i trimestri terminati il 30 settembre e il 31 dicembre 2024.
L'azienda non presenterà ricorso contro questa decisione, citando potenziali risparmi sui costi derivanti dalla cancellazione dalla quotazione. La sospensione delle negoziazioni avrà effetto dal 25 aprile 2025. Dopo la cancellazione, si prevede che le azioni saranno quotate sul mercato OTC Experts, anche se non si può garantire la continuità delle negoziazioni.
Charles & Colvard anunció que recibió una carta de determinación del personal de Nasdaq respecto a la exclusión de sus acciones comunes debido al incumplimiento de la Regla de Listado 5250(c)(1). La empresa no presentó a tiempo los Formularios 10-Q correspondientes a los trimestres terminados el 30 de septiembre y el 31 de diciembre de 2024.
La compañía no apelará esta determinación, citando posibles ahorros de costos derivados de la exclusión. La suspensión de la negociación entrará en vigor el 25 de abril de 2025. Tras la exclusión, se espera que las acciones se coticen en el mercado OTC Experts, aunque no se garantiza el mantenimiento de la actividad comercial.
Charles & Colvard는 Nasdaq으로부터 상장 규정 5250(c)(1) 미준수로 인해 보통주 상장 폐지에 관한 직원 결정 서한을 받았다고 발표했습니다. 회사는 2024년 9월 30일 및 12월 31일 종료된 분기의 10-Q 서류를 제때 제출하지 못했습니다.
회사는 상장 폐지에 따른 비용 절감 가능성을 이유로 이 결정에 대해 항소하지 않을 예정입니다. 거래 정지는 2025년 4월 25일부터 시행됩니다. 상장 폐지 후 주식은 OTC Experts Market에서 거래될 것으로 예상되나, 거래 시장 유지가 보장되지는 않습니다.
Charles & Colvard a annoncé avoir reçu une lettre de détermination du personnel de Nasdaq concernant la radiation de ses actions ordinaires en raison du non-respect de la règle de cotation 5250(c)(1). La société n’a pas déposé à temps les formulaires 10-Q pour les trimestres se terminant le 30 septembre et le 31 décembre 2024.
La société ne fera pas appel de cette décision, évoquant des économies potentielles liées à la radiation. La suspension des négociations prendra effet le 25 avril 2025. Après la radiation, les actions devraient être cotées sur le marché OTC Experts, bien que le maintien des échanges ne puisse être garanti.
Charles & Colvard gab bekannt, dass es ein Schreiben der Nasdaq-Mitarbeiter bezüglich der Delistung seiner Stammaktien aufgrund der Nichteinhaltung der Notierungsregel 5250(c)(1) erhalten hat. Das Unternehmen hat die Formulare 10-Q für die Quartale zum 30. September und 31. Dezember 2024 nicht fristgerecht eingereicht.
Das Unternehmen wird gegen diese Entscheidung keinen Einspruch einlegen und verweist auf mögliche Kosteneinsparungen durch die Delistung. Die Handelsaussetzung tritt am 25. April 2025 in Kraft. Nach der Delistung wird erwartet, dass die Aktie am OTC Experts Market gehandelt wird, wobei eine Aufrechterhaltung des Handels nicht garantiert werden kann.
- Potential cost reduction from eliminating Nasdaq listing and compliance expenses
- Delisting from Nasdaq due to failure to file required financial reports
- Trading suspension effective April 25, 2025
- Downgrade to OTC Experts Market trading
- Uncertainty about maintaining trading market liquidity
- Non-compliance with financial reporting requirements for two consecutive quarters
Nasdaq is expected to file a Form 25-NSE (Notification of Removal from Listing) with the Securities and Exchange Commission relating to the delisting of the Common Stock. Suspension of trading of the Common Stock will occur at the opening of business on April 25, 2025.
Following the delisting, the Company expects that the Common Stock will be quoted on the OTC Experts Market. No assurances can be provided, however, that a trading market in the Common Stock in any over-the-counter market will be maintained.
About Charles & Colvard, Ltd.
Charles & Colvard, Ltd. (CTHR) believes that fine jewelry should be as ethical as it is exquisite. Charles & Colvard is the original creator of lab grown moissanite (a rare gemstone formed from silicon carbide). The Company brings revolutionary gems and fine jewelry to market by using exclusively Made, not Mined™ above ground gemstones and a dedication to
Forward-Looking Statements
This press release contains a number of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "plan," "expect," "will," "working," and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, the ability of the Company to continue its business. These forward-looking statements are not guarantees of future results and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond our control. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the Securities and Exchange Commission, including the risks and uncertainties described in more detail in our filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended June 30, 2024 and subsequent reports filed with the SEC. For example, there can be no assurance that the Company will succeed in pursuing its strategic plan. Forward-looking statements speak only as of the date they are made. The Company disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation and you are urged to review and consider disclosures that we make in the reports that we file with the SEC that discuss other factors relevant to our business.
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SOURCE Charles & Colvard, Ltd.
FAQ
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