Charles & Colvard Receives NASDAQ Share Delisting Notice

Charles & Colvard has been notified by the NASDAQ Stock Market that the firm’s common stock may be delisted from the market because, for the last 30 consecutive business days, the bid price of its stock has closed below the minimum $1.00 per share required by the marketplace rules.

The creator and sole source of moissanite received the notice on August 18. Charles & Colvard now has 180 calendar days, or until February 17, 2009, to regain compliance.

If the stock’s bid price closes at $1.00 per share or more for a minimum of 10 consecutive business days, at any time before this date, Charles & Colvard will be in compliance with the rule.

If Charles & Colvard does not regain compliance by February 17, 2009, NASDAQ will provide written notification that the firm’s securities will be delisted. The company may at any time appeal the decision to delist its shares. It may also apply to transfer its securities to the NASDAQ Capital Market.