# EDGAR Filing Document

**Accession Number:** 0001015155
**File Stem:** 0002015561-25-000003
**Filing Date:** 2025-9
**Character Count:** 13052
**Document Hash:** 4ff698aaad538b2c09b0420c991d202a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002015561-25-000003.hdr.sgml**: 20250902

**ACCESSION NUMBER**: 0002015561-25-000003

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250902

**DATE AS OF CHANGE**: 20250902

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CHARLES & COLVARD LTD
- **CENTRAL INDEX KEY:** 0001015155
- **STANDARD INDUSTRIAL CLASSIFICATION:** JEWELRY, SILVERWARE & PLATED WARE [3910]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 561928817
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-53115
- **FILM NUMBER:** 251286724

**BUSINESS ADDRESS:**
- **STREET 1:** 170 SOUTHPORT DRIVE
- **CITY:** MORRISVILLE
- **STATE:** NC
- **ZIP:** 27560
- **BUSINESS PHONE:** 9194680399

**MAIL ADDRESS:**
- **STREET 1:** 170 SOUTHPORT DRIVE
- **CITY:** MORRISVILLE
- **STATE:** NC
- **ZIP:** 27560

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** C3 INC /NC/
- **DATE OF NAME CHANGE:** 19970829
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Riverstyx Capital Management LLC
- **CENTRAL INDEX KEY:** 0002015561

**ORGANIZATION NAME:**
- **EIN:** 842126899
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 3661 VALVERDE CIR
- **CITY:** JACKSONVILLE
- **STATE:** FL
- **ZIP:** 32224
- **BUSINESS PHONE:** 9042945879

**MAIL ADDRESS:**
- **STREET 1:** 3661 VALVERDE CIR
- **CITY:** JACKSONVILLE
- **STATE:** FL
- **ZIP:** 32224

### Attached PDF Documents

**Attachment 1:** `ex1_nominationletter.pdf`

_No text found in this document._

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 6)**

**CHARLES & COLVARD LTD**

*(Name of Issuer)*

**Common Stock**

*(Title of Class of Securities)*

**159765106**

*(CUSIP Number)*

**Ben Franklin**<br>3661 Valverde Cir<br>JACKSONVILLE FL 32224<br>9042945879

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**08/22/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **159765106** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Riverstyx Capital Management LLC** | Name of reporting person<br>**Riverstyx Capital Management LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**FLORIDA** | Citizenship or place of organization<br>**FLORIDA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**232106.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**232106.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**232106.00** | Aggregate amount beneficially owned by each reporting person<br>**232106.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | |
| 13 | Percent of class represented by amount in Row (11)<br>**7.4%** | Percent of class represented by amount in Row (11)<br>**7.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **159765106** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**The Riverstyx Fund, LP** | Name of reporting person<br>**The Riverstyx Fund, LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**232106.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**232106.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**232106.00** | Aggregate amount beneficially owned by each reporting person<br>**232106.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**7.4%** | Percent of class represented by amount in Row (11)<br>**7.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **159765106** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Riverstyx Fund, GP** | Name of reporting person<br>**Riverstyx Fund, GP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**232106.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**232106.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**232106.00** | Aggregate amount beneficially owned by each reporting person<br>**232106.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**7.4%** | Percent of class represented by amount in Row (11)<br>**7.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **159765106** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Ben Franklin** | Name of reporting person<br>**Ben Franklin** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**FLORIDA** | Citizenship or place of organization<br>**FLORIDA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**100.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**232106.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**100.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**232106.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**232206.00** | Aggregate amount beneficially owned by each reporting person<br>**232206.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**7.4%** | Percent of class represented by amount in Row (11)<br>**7.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock

**(b) Name of Issuer:**
CHARLES & COLVARD LTD

**(c) Address of Issuer's Principal Executive Offices:**
170 SOUTHPORT DRIVE, MORRISVILLE, NC, 27560

**Item 4. Purpose of Transaction**

On August 22, 2025, Riverstyx Capital Management, LLC and its affiliates (together, the "Reporting Persons") delivered a notice of nomination (the "Nomination Notice") to Charles & Colvard, Ltd. (the "Issuer") nominating Ben Franklin, Michael R. Levin, and Lloyd M. Sems (collectively, the "Nominees") for election to the Issuer's Board of Directors at the Issuer's 2025 Annual Meeting of Shareholders (including any adjournments, postponements, or reschedulings thereof, the "Annual Meeting"). A copy of the Nomination Notice is filed as Exhibit 1 hereto and incorporated by reference herein.

The Reporting Persons intend to solicit proxies from the Issuer's shareholders in support of the election of the Nominees at the Annual Meeting. In connection therewith, the Reporting Persons may file with the Securities and Exchange Commission additional solicitation materials, including press releases, letters, presentations, and other communications to shareholders, pursuant to Rule 14a-12 under the Securities Exchange Act of 1934.

The Reporting Persons may also have discussions with the Issuer's management, board of directors, other shareholders, and other interested parties concerning the business, governance, operations, strategy, future plans, and corporate structure of the Issuer. The Reporting Persons may take other steps seeking to bring about changes to increase shareholder value, including, without limitation, pursuing additional board representation, changes in management or strategy, or other actions.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Riverstyx Capital Management LLC

**Signature:** Ben Franklin

**Name/Title:** Manager of its GP

**Date:** 09/02/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** The Riverstyx Fund, LP

**Signature:** Ben Franklin

**Name/Title:** Manager

**Date:** 09/02/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Riverstyx Fund, GP

**Signature:** Ben Franklin

**Name/Title:** Manager

**Date:** 09/02/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Ben Franklin

**Signature:** Ben Franklin

**Name/Title:** Ben Franklin

**Date:** 09/02/2025