Company: CHUC
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001437749-25-035731
Chunk: 37

Company: Charlie's Holdings, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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,762,000, as compared to working capital deficit of approximately $1,855,000 at December 31, 2024. The current liabilities include approximately $3,744,000 of accounts payable and accrued expenses, notes payable from related parties of $2,481,000, $163,000 of lease liabilities and approximately $374,000 of deferred revenue associated with product shipped but not yet received by customers.

24

Our cash and cash equivalents balance at September 30, 2025 was approximately $1,150,000. As of September 30, 2025, we have the following notes outstanding:

  August 2025 Notes. As of September 30, 2025, $2,000,000 notes payable plus accrued interest held by Michael King remained outstanding.  

  July 2023 Notes. As of September 30, 2025, $238,000 notes payable plus accrued interest held by Ryan Stump and Henry Sicignano III remained outstanding and the maturity dates of the outstanding...  
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  April 2022 Note. As of September 30, 2025, approximately $243,000 of principal plus accrued interest held by Michael King remained outstanding and the maturity dates of the outstanding notes ha...  
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For the nine months ended September 30, 2025, net cash used in operating activities was approximately $6,172,000, resulting from a net income of $4,368,000, and offset by a change in net non-cash activity of $6,772,000 and operating assets and liabilities of $3,768,000. For the nine months ended September 30, 2024, net cash used in operating activities was approximately $1,244,000, resulting from a net loss of $3,034,000, offset by a change in operating assets and liabilities of $949,000 and net non-cash activity of $841,000.

For the nine months ended September 30, 2025, cash provided by investing activities included $7,500,000 in proceeds from the sale of intellectual property related to certain of our PMTA products.

For the nine months ended September 30, 2025, we used