Charles & Colvard, Ltd. (NASDAQ:CTHR) Q2 2023 Earnings Call Transcript

Unidentified Analyst: Hi, Don, just a quick question on potential acquisitions. Have you guys been approached by any larger company to be acquired just based on you guys trading about half book value? I didn’t know if there was any conversations from many other company towards you guys. Thank you.

Don O’Connell: Hey, Jack, great question. I mean, it’s a loaded question and obviously I can’t answer that question specifically. we don’t discuss any matters specific to that, but I can tell you that we’ve got a tremendous opportunity ahead of us. We believe there’s a roadmap ahead of us, whether we become the acquirer of others to be able to grow our footprint or to grow our brand, or to grow our strategy, that remains to be seen. We’re looking at every, so, certainly, I have an obligation, in the chair that I sit in to be able to review and discuss and, and take into consideration any opportunity that would present itself. So we think we’re a great company, we think we’re, a great value. We have a good position in the market. So, we believe there’s plenty of growth for us to grow our business standalone. So, I don’t know if that, kind of answers your question.

Unidentified Analyst: Well, so you completely ruling that out. Then. If a company did approach you and you thought it, it brought superior value, then the current share price, you would consider that you’re not completely shooting down that just based on where you think you can grow the company three years?

Don O’Connell: Absolutely not. So, we would take any consideration, anyone that comes forward with a, a legitimate bonafide offer, we take that to the board of directors. We talk about it all the time, should an opportunity present itself and it makes sense for the shareholders and myself included across the board. Absolutely. I mean, why wouldn’t we? So, given, an opportunity that could or will present itself we’ll, we’ll kind of visit that at the time.

Unidentified Analyst: Great. Thank you.

Operator: This concludes our question and answer session. I would like to turn the conference back over to Don O’Connell for any closing remarks.

Don O’Connell: So first of all, I want to thank everybody for today and on behalf everybody at Charles & Colvard, we appreciate your time and I want to thank you all for your continued support, and we look forward to things that come in the future for Charles & Colvard.

Operator: The conference call will be archived for review on the company’s website at http//www.charlesandcolvard.com/investor-relations/events. To access the digital replay of this conference, you may dial 1-877-344-7529, or 1-412-317-0088 beginning approximately one hour from now. You will be prompted to enter a conference number, which will be 4241796. Please record your name and company when joining. The conference is now concluded. Thank you for attending today’s presentation. You may now disconnect.