Charles & Colvard asset auction draws $2.7 million winning bid from AJS Creations in Chapter 11 case
CTHR•June cash and balance sheet figures
June cash loss was reported; operating account ending reconciled balance was $24,139.
Post-petition accounts receivable ended June at $204,539; post-petition accounts payable totaled $409,301, with older balances tied mainly to the corporate office lease.
Auction result and Chapter 11 process
Charles & Colvard’s Chapter 11 sale process produced a winning bid of $2.7 million from AJS Creations at a June 22 auction.
Work began on a Chapter 11 plan following the auction.
