Item 2.02 Results of Operations and Financial Condition.

On May 5, 2022, Charles & Colvard, Ltd. (the "Company") issued a press release regarding its financial results for the fiscal quarter ended March 31, 2022. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Pursuant to General Instruction B.2 of Current Report on Form 8-K, the information in Item 2.02 of this report is furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. Furthermore, such information shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended.




Item 8.01 Other Events.

Announcement of Share Repurchase Program

On May 5, 2022, the Company announced that its Board of Directors approved a new stock repurchase program relating to the repurchase of up to $5.00 million in shares outstanding of the Company's stock over the next three years (the "Stock Repurchase Program"). The repurchase authorization expires on April 29, 2025. Any stock repurchases made pursuant to the Stock Repurchase Program may be made through open-market and privately negotiated transactions, at times and in such amounts as management deems appropriate. The repurchase transactions are expected to be funded by cash on hand and cash generated by operations. The timing of repurchases will depend upon several factors, including market and business conditions, and repurchases may be discontinued at any time.

A copy of this press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.






(d)    Exhibits.



Exhibit No.   Description of Document

  99.1          Press Release dated May 5, 2022 (furnished pursuant to Item 2.02
              above)
104           Cover Page Interactive Data File - the cover page XBRL tags are
              embedded within the Inline XBRL document

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