SPY391.77+4.27 1.10%
DIA319.53+4.14 1.31%
IXIC13,597.97+132.77 0.99%

Press Release: Charles & Colvard Reports Second -3-

· 02/04/2021 16:07
Accounts receivable (3,066,219) (1,454,318) Inventory 1,862,843 (2,207,214) Prepaid expenses and other assets, net 62,095 (196,764) Accounts payable (815,659) 1,403,677 Accrued income taxes 988 747 Accrued expenses and other liabilities (273,784) 123,752 Net cash provided by (used in) operating activities 2,412,056 (237,637) CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (244,688) (319,728) Payments for intangible assets (26,538) (36,797) Net cash used in investing activities (271,226) (356,525) CASH FLOWS FROM FINANCING ACTIVITIES: Issuance of commons stock, net of offering costs - 932,480 Stock option exercises 114,999 - Net cash provided by financing activities 114,999 932,480 NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 2,255,829 338,318 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 14,617,234 13,006,545 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD $ 16,873,063 $13,344,863 Supplemental disclosure of cash flow information: Cash paid during the period for interest $ - $277 Cash paid during the period for income taxes $ 8,961 $2,050 Reconciliation to Condensed December 31, June 30, Consolidated Balance Sheets: 2020 2020 Cash and cash equivalents $ 16,690,105 $13,993,032 Restricted cash 182,958 624,202 CASH, CASH EQUIVALENTS AND RESTRICTED CASH $ 16,873,063 $14,617,234

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SOURCE Charles & Colvard, Ltd.

/CONTACT: Clint J. Pete, Chief Financial Officer, 919-468-0399, ir@charlesandcolvard.com

/Web site: www.charlesandcolvard.com

(END) Dow Jones Newswires

February 04, 2021 16:07 ET (21:07 GMT)