**Charles & Colvard, Ltd. Faces Nasdaq Listing Non-Compliance Issue**

Charles & Colvard, Ltd. (NASDAQ:CTHR) recently received a notification from the Listing Qualifications Department of the Nasdaq Stock Market, indicating non-compliance with Nasdaq Listing Rule 5250(c)(1). This rule requires timely filing of all periodic financial reports with the Securities and Exchange Commission (SEC).

The company was informed that due to the delay in filing its Form 10-K for the fiscal year ending June 30, 2024, it was not in compliance with the Nasdaq Listing Rule. Even though the Form 10-K was due on September 30, 2024, Charles & Colvard filed a Notification of Late Filing on Form 12b-25 with the SEC on October 1, 2024.

Under Nasdaq regulations, the company now has 60 calendar days, until December 17, 2024, to either regain compliance with the Listing Rule or submit a plan to Nasdaq to rectify the situation. If the plan is accepted, Nasdaq might grant an extension of up to 180 calendar days, until April 14, 2025, to file the Form 10-K.

Despite this development, the current notice does not pose an immediate impact on the company’s common stock listing or trading on Nasdaq. Charles & Colvard affirmed its commitment to address the matter promptly by working diligently to complete and file the Form 10-K to adhere to the Listing Rule.

Furthermore, in a press release dated October 24, 2024, Charles & Colvard disclosed the receipt of the Nasdaq non-compliance letter as required by Nasdaq Listing Rule 5810(b). The press release outlined the company’s efforts to regain compliance with the Listing Rule.

In adherence to regulations, the information disclosed in the recent filings, including the press release, is being furnished as part of the regulatory obligations without constituting a formal filing as per the Securities Exchange Act of 1934.

Despite these challenges, Charles & Colvard remains optimistic about the future, emphasizing its commitment to addressing the compliance issue and ensuring transparency in its regulatory obligations. The company acknowledged the uncertainties associated with the situation and advised shareholders and the market to refer to its SEC filings for further information.

For any inquiries or clarifications regarding this matter, investors and interested parties are encouraged to review details in the company’s filings with the Securities and Exchange Commission or contact the corporate team directly.

Contact:
Clint J. Pete
Chief Financial Officer
Charles & Colvard, Ltd.
Phone: 919-468-0399
Email: [email protected]

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Charles & Colvard, Ltd.’s 8K filing here.

About Charles & Colvard, Ltd.

Charles & Colvard, Ltd. operates as a fine jewelry company in the United States and internationally. The company operates in two segments, Online Channels and Traditional. It manufactures, markets, and distributes moissanite jewels and finished moissanite jewelry under the Charles & Colvard Created Moissanite brand; and premium moissanite gemstones under the Forever One brand name.