The presentation will be prerecorded and a link to the on-demand presentation will be available on Monday, March 15 on the Events page of the Company’s investor relations
Charles & Colvard, Ltd. (Nasdaq: CTHR or the “Company”), a globally recognized lab created gemstone company specializing in fine jewelry, announced that Don O’Connell, President and CEO, and Clint J. Pete, Chief Financial Officer, will present at the virtual 33rd Annual ROTH Conference, taking place March 15-17, 2021.Caydia™, our new, exclusive assortment of premium lab grown diamonds, offers everlasting beauty that reflects your inner glow. These gems are hand selected by our certified gemologists to meet the uncompromising standards of Charles & Colvard and to ensure you get the sparkle you’ve always dreamed of.
Charles & Colvard, Ltd., is a Research Triangle Park, North Carolina-based publicly traded company (NASDAQ: CTHR) that distributes and manufactures jewelry. It was founded in 1995 by Charles Eric Hunter under the name C3 Inc.,[] and then run by his brother Jeff Hunter until 2000.[5][6] The company changed its name to Charles & Colvard in 1999.[7] The company employs 63 people full-time, and generated $32.4 million in revenue during the year ending June 30, 2019, up from $27.91 million in the previous year.[8]
Charles & Covard was the first company to produce and sell synthetic moissanite] under U.S. patent US5723391 A, first filed by C3 Inc., North Carolina.[10] The gemstones are made from silicon carbide crystals, supplied under an exclusive agreement from fellow North Carolina company Cree Inc. since 2014.[11]
In June 2019 the company netted $10 million from a secondary public offering
In March 2020, the company was notified that they were at risk of being delisted on NASDAQ, as their share price had been consistently below $1.[13]
Don O’Connell was announced CEO in May 2020, taking over after Suzanne T. Miglucci’s resignation. The announcement came days after reporting their quarterly earnings, which included a $5.3 million writeoff. O’Connell’s base salary is $335,000, and Miglucci’s was $278,000.[2][1]
As part of the COVID-19 pandemic, the company received a $965,000 federally backed small business loan from Newtek Small Business Finance as part of the Paycheck Protection Program. WCNC highlighted the company, and publicly traded companies that received loans before privately held small businesses did. WCNC also noted some publicly traded companies had returned their loan amidst scrutiny.[12][14][15][16][17] The company had furloughed about half of their employees on April 13, 2020.[18][12] The company also has had a $5 million line of credit since 2018, which remains available.[12]
Subsidiary companies and brands include ‘Classic Moissanite’, ‘Forever Brilliant’, ‘Survivor Collection’, ‘Hearts & Arrows’, ‘Moissanite.com’ and ‘Lulu Avenue’.
Charles & Colvard, Ltd. (Nasdaq: CTHR) believes fine jewelry can be accessible, beautiful and conscientious. Charles & Colvard is the original pioneer of lab-created moissanite, a rare gemstone formed from silicon carbide. The Company brings revolutionary gemstones and jewelry to market through its pinnacle Forever OneTM moissanite brand and its premium Caydia™ lab grown diamond brand. Consumers seek Charles & Colvard fashion, bridal and fine jewelry because of its exceptional quality, incredible value and shared beliefs in environmental and social responsibility. Charles & Colvard was founded in 1995 and is based in North Carolina’s Research Triangle Park.
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