Profile: Charles & Colvard Ltd (CTHR.O)

Charles & Colvard, Ltd. (Charles & Colvard), incorporated on June 28, 1995, manufactures, markets, and distributes Charles & Colvard Created Moissanite jewels (which the Company refer to as moissanite or moissanite jewels) and finished jewelry featuring moissanite for sale in the worldwide jewelry market. Moissanite, also known by its chemical name of silicon carbide (SiC) is a rare mineral first discovered in a meteor crater. The Company manages its business primarily by its product lines, and accordingly, it determined its two operating and reporting segments to be loose jewels and finished jewelry. In October 2011, the Company announced the launch of Lulu Avenue. The Company sells loose moissanite jewels and finished jewelry at wholesale to distributors, manufacturers, and retailers and at retail to end consumers through its wholly owned operating subsidiaries Moissanite.com, LLC and Charles & Colvard Direct, LLC.

The Company focuses on the development, manufacturing and distribution of near-colorless moissanite jewels. The Company primarily sells near-colorless moissanite jewels cut in a variety of shapes, including round, square brilliant, princess, cushion, radiant, pear, marquise, heart, and oval in sizes ranging from approximately 1.3 to 12 millimeters (approximately 0.008 to 5.3 carats). Its production consists of such basic designs as stud earnings, solitaire and three-stone rings, pendants, and bracelets. It has also created several pieces of jewelry in alternative metals, such as sterling silver and palladium. The Company’s moissanite jewels are made from gem-grade SiC crystals. Its sole supplier of SiC crystals is Cree, Inc. (Cree).

Charles & Colvard competes with Gemesis Corporation, Chatham, Apollo Diamonds, DeBeers, Sumitomo, GE, The Carborundum Corporation, Cree, Siemens AG, Norstel, Bridgestone ABB, Dow Chemical, SiC Crystal AG, Northrop Grumman Corporation, David Yurman, Tacori, Harry Winston, Tiffany & Co., Pandora, Alrosa, Rio Tinto and BHP.