Company: CHUC
Filing Date: 2025-08-21
Form Type: 10-Q
Source: 0001437749-25-027482
Chunk: 15

Company: Charlie's Holdings, Inc.
Filing Date: 2025-08-21
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 $                                   4,170          ( 2,012  
  Weighted average shares outstanding - basic                                        254,369,578                228,988,755                                    253,970,935      224,795,559  
  Diluted preferred shares                                                            27,614,057                          -                                     27,614,057                -  
  Weighted average shares outstanding - diluted                                      281,983,635                228,988,755                                    281,584,992      224,795,559  
  Basic earnings (loss) per share                    $                                      0.02      $                0.00      $                                    0.01           ( 0.01  
  Diluted earnings (loss) per share                  $                                      0.02      $                0.00      $                                    0.01           ( 0.01  

The following securities were not included in the diluted net income (loss) per share calculation because their effect was anti-dilutive as of the periods presented (in thousands):

                                             For the six months ended                         
                                             June 30,                                         
                                             2025                                             
 ──────────────────────────────────────────────────────────────────────────────────────────────
  Options                                                                  4,648       4,648  
  Warrants                                                                 3,700           -  
  Series A convertible preferred shares                                        -      28,588  
  Total                                                                    8,348      33,236  

All common stock options and common stock purchase warrants outstanding as of June 30, 2025 were out of the money and were not included in net earnings per share calculation.

NOTE 11 - STOCKHOLDERS’EQUITY

Conversion of Series A Preferred Shares

During the six months ended June 30, 2025, the Company issued approximately127,000shares of Common Stock upon conversion of564shares of Series A Preferred.

Common Stock Warrants

On January 7, 2025, the Company issued3,700,000warrants along with a promissory note to a third-party vendor to settle the outstanding accounts payable. Each warrant entitles the holder to purchase one share of the Company’s common stock at an exercise price of $0.10per share. The warrants vest immediately, and are exercisable through December 30, 2027, and are subject to the terms and conditions of the warrant agreement.

The fair value of the warrants on the issuance date was $148,000and