MORRISVILLE, N.C. -- (Business Wire)
& Colvard, Ltd. (NASDAQ Global Select Market: CTHR), the sole
manufacturer of created moissanite gemstones, The Most Brilliant
Jewel in the World®, today announced that the U.S.
Patent and Trademark Office (the USPTO) upheld all claims under the
Company’s U.S. Patent No. 5,723,391 (the ‘391 Patent) covering its
silicon carbide gemstones upon conclusion of an ex parte re-examination.
Throughout the ex parte re-examination process, the Company firmly
believed that all of the claims of the ‘391 Patent were valid and
enforceable. This successful re-confirmation of the Company’s ‘391
Patent by the USPTO follows the determination by the Australian Patent
Office earlier in May that the Company’s Australian patent is both novel
and inventive when faced with a similar ex parte re-examination.
Charles & Colvard is confident in the strength of its entire
intellectual property portfolio and is committed to vigorously
defending, maintaining, and strengthening the patents that protect its
moissanite gemstones and technology.
About Charles & Colvard, Ltd.
Charles & Colvard, Ltd., based in the Research Triangle Park area of
North Carolina, is the global sole source of moissanite, a unique,
near-colorless created gemstone that is distinct from other gemstones
and jewels based on its exceptional fire, brilliance, luster,
durability, and rarity. Charles & Colvard Created Moissanite®
and Forever Brilliant® are currently
incorporated into fine jewelry sold through domestic and international
retailers and other sales channels. Charles & Colvard, Ltd. is
headquartered in Morrisville, North Carolina, and its common stock is
listed on the NASDAQ Global Select Market under the symbol “CTHR.” For
more information, please visit www.charlesandcolvard.com.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Statements expressing expectations regarding our future and projections
relating to products, sales, revenues, and earnings are typical of such
statements and are made under the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include, but are not
limited to, statements about our plans, objectives, representations, and
contentions and are not historical facts and typically are identified by
use of terms such as “may,” “will,” “should,” “could,” “expect,” “plan,”
“anticipate,” “believe,” “estimate,” “predict,” “continue,” and similar
words, although some forward-looking statements are expressed
All forward-looking statements are subject to the risks and
uncertainties inherent in predicting the future. You should be aware
that although the forward-looking statements included herein represent
management’s current judgment and expectations, our actual results may
differ materially from those projected, stated, or implied in these
forward-looking statements as a result of many factors including, but
not limited to, our dependence on consumer acceptance and growth of
sales of our products resulting from our strategic initiatives;
dependence on a limited number of customers; our current wholesale
customers’ potential perception of us as a competitor in the finished
jewelry business; general economic and market conditions, including the
current economic environment; dependence on Cree, Inc. as the current
supplier of the raw material; intense competition in the worldwide
jewelry industry; the financial condition of our major customers; risks
of conducting business in foreign countries; the pricing of precious
metals, which is beyond our control; the potential impact of seasonality
on our business; our ability to protect our intellectual property; the
risk of a failure of our information technology infrastructure to
protect confidential information and prevent security breaches; and
possible adverse effects of governmental regulation and oversight, in
addition to the other risks and uncertainties described in our filings
with the Securities and Exchange Commission, or the SEC, including our
Annual Report on Form 10-K for the fiscal year ended December 31, 2011
and subsequent reports filed with the SEC. Forward-looking statements
speak only as of the date they are made. We undertake no obligation to
update or revise such statements to reflect new circumstances or
unanticipated events as they occur except as required by the federal
securities laws, and you are urged to review and consider disclosures
that we make in the reports that we file with the SEC that discuss other
factors relevant to our business.
Charles & Colvard
Chief Financial Officer
919-468-0399, ext. 295
Taglich Brothers, Inc.
Source: Charles & Colvard, Ltd.
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