Charles & Colvard, Ltd., Morrisville, N.C., the sole source of moissanite, was selected as the “Featured Stock of the Month” (September 2002) by The KonLin Letter, a leading investment newsletter focused on low priced stocks.
In the investment profile, the publication points to a number of factors backing its endorsement of the company and the newsletter’s ultimate target price of $10 to $12.
· Rising second quarter domestic ct. sales (up 115% vs. the second quarter 2001) leading to a 65% increase in second quarter sales which rose to $4.1 million;
· Three consecutive quarters of record earnings;
· The growing number of retail chains carrying moissanite jewelry, plus increasing moissanite sales on home shopping venues such as ShopNBC; and,
· Balance sheet strength evidenced by a 26:1 current ratio, no long-term debt, $12.5 million in cash and cash equivalents, $35 million in working capital.
Charles & Colvard, based in the Research Triangle Park area of North Carolina, is the sole source of moissanite, a created jewel used in fine jewelry.