--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-23-126082" form_type: "8-K" ticker: null cik: "0001015155" company_name: "CHARLES & COLVARD LTD" filed_at: "2023-12-15T23:59:59+00:00" generated_at: "2026-06-07T11:37:02.239050+00:00" event_type: "regulatory" sentiment: "negative" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # Charles & Colvard receives Nasdaq non-compliance notice; granted additional 180 days to meet $1 bid price ## Summary - Nasdaq granted additional 180 days, until June 10, 2024, to regain compliance with $1 minimum bid price rule. - Stock must close at $1.00 or more for at least 10 consecutive business days before June 10, 2024. - Company may consider reverse stock split to cure deficiency. - At annual meeting, all five director nominees elected; BDO ratified; advisory executive compensation approved. - Delisting risk remains if compliance not achieved by June 10, 2024. ## SEC filing metadata - accession: 0001104659-23-126082 - form_type: 8-K - cik: 0001015155 - company_name: CHARLES & COLVARD LTD - filed_at: 2023-12-15T23:59:59+00:00 - event_type: regulatory - sentiment: negative - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 3.01, 5.07 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1015155/000110465923126082/0001104659-23-126082-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1015155/000110465923126082/tm2332925d1_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-23-126082 - JSON: https://secwatch.observer/filing/0001104659-23-126082.json - Plain text: https://secwatch.observer/filing/0001104659-23-126082.txt ## Key facts - Listing & Compliance Notices CHARLES & COLVARD LTD received a nasdaq extension granted notice regarding minimum bid price (rules 5810(c)(3)(A)). - Exchange: nasdaq - Notice: extension granted - Deficiency: minimum bid price - Rules: 5810(c)(3)(A) source text: December 12, 2023 the Company received a notification letter from Nasdaq’s Listing Qualifications Department indicating that, while the Company has not regained compliance with the Minimum Bid Price Requirement, it is eligible for an additional 180-day grace period, or until June 10, 2024, to regain compliance with the Minimum Bid Price Requirement (the “December Notice”). To regain compliance, any time before June 10, 2024, the bid price of the Company’s common stock must close at a $1.00 per share or more for a minimum of 10 consecutive business days. Nasdaq’s determination to grant an addit evidence_url: https://www.sec.gov/Archives/edgar/data/1015155/000110465923126082/0001104659-23-126082-index.htm - Listing & Compliance Notices CHARLES & COLVARD LTD received a nasdaq noncompliance notice notice regarding minimum bid price (rules 5550(a)(2)). - Exchange: nasdaq - Notice: noncompliance notice - Deficiency: minimum bid price - Rules: 5550(a)(2) source text: sfy a Continued Listing Rule or Standard; Transfer of Listing. As previously disclosed, on June 12, 2023, Charles & Colvard, Ltd. (the “Company”) received a notification letter from Nasdaq’s Listing Qualifications Department indicating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) because the minimum bid price of its common stock on the Nasdaq Capital Market had closed below $1.00 per share for 30 consecutive business days (the “Minimum Bid Price Requirement”). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company had 180 calendar days, or until Decembe evidence_url: https://www.sec.gov/Archives/edgar/data/1015155/000110465923126082/0001104659-23-126082-index.htm - Shareholder Votes CHARLES & COLVARD LTD shareholders approved To elect five nominees described in the Proxy Statement to the Company’s Board of Directors. at the 2023-12-14 meeting. - Proposal: director election - Outcome: passed - Meeting: 2023-12-14 source text: The Company held its Annual Meeting of Shareholders on December 14, 2023 (the “Annual Meeting”). The shareholders considered three proposals, each of which is described in more detail in the definitive proxy statement for the Company’s 2023 Annual Meeting of Shareholders filed with the Securities and Exchange Commission on October 27, 2023 (the “Proxy Statement”). Proposal 1 : To elect five nominees described in the Proxy Statement to the Company’s Board of Directors. The votes were cast as follows: For Withheld Broker Non-Votes Anne M. Butler 10,277,781 1,033,239 6,581,401 Benedetta Casamento 10,347,825 963,195 6,581,401 Neal I. Goldman 9,954,086 1,356,934 6,581,401 Don O’Connell 10,020,044 1,290,976 6,581,401 Ollin B. Sykes 10,137,455 1,173,565 6,581,401 All director nominees were duly elected. evidence_url: https://www.sec.gov/Archives/edgar/data/1015155/000110465923126082/0001104659-23-126082-index.htm - Shareholder Votes CHARLES & COLVARD LTD shareholders approved To ratify the appointment of BDO USA, P.C. as the Company’s independent registered public accounting firm for the fiscal year ending June 30, 2024. at the 2023-12-14 meeting. - Proposal: auditor ratification - Outcome: passed - Meeting: 2023-12-14 source text: Proposal 2 : To ratify the appointment of BDO USA, P.C. as the Company’s independent registered public accounting firm for the fiscal year ending June 30, 2024. The votes were cast as follows: For Against Abstain 17,012,273 89,014 791,134 Proposal 2 was approved. evidence_url: https://www.sec.gov/Archives/edgar/data/1015155/000110465923126082/0001104659-23-126082-index.htm This AI-assisted summary is a reading aid. 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