Charles & Colvard Ltd (CTHR) News & EventsCTHRCharles & Colvard Ltd

Charles & Colvard announces delisting from Nasdaq

Charles & Colvard announced that the Company received a staff determination letter from the Nasdaq Stock Market, informing the Company that Nasdaq determined to suspend trading and delist the Company's common stock from Nasdaq because the Company is out of compliance with Listing Rule 5250 for failure to timely file its Forms 10-Q for the quarters ended September 30 and December 31, 2024, unless the Company appeals this determination. The Company does not intend to request a hearing to appeal this determination. This decision was based on a careful review of numerous factors, including the potential for limiting the significant costs associated with remaining listed on Nasdaq and complying with Nasdaq listing standards.

Charles & Colvard receives non-compliance letter from Nasdaq

Charles & Colvard received a letter from the Nasdaq Listing Qualifications Department notifying the company that it was not in compliance with Nasdaq Listing Rule 5250(c), which requires the timely filing of all required periodic reports, as a result of not having timely filed its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024, and because the company remains delinquent in filing its Form 10-K for the fiscal year ended June 30, 2024. The company filed a Notification of Late Filing on Form 12b-25 with the SEC on November 15, 2024. The notice has no immediate effect on the listing or trading of the company's common stock on Nasdaq. The company has until December 17 to regain compliance with the Listing Rule or to submit to Nasdaq a plan to regain compliance with the Listing Rule. If Nasdaq accepts the plan, then Nasdaq may grant the company until April 14, 2025 to file its Form 10-K and Form 10-Q and regain compliance. The company is working to complete its Form 10-K and Form 10-Q and plans to file its Form 10-K and Form 10-Q as promptly as practicable.