SCHEDULE 13G/A: Iroquois Capital Group Reduces Stake in Charlie's Holdings Below 5% Threshold

An amendment to a Schedule 13G filing reveals that Iroquois Capital Management L.L.C. and its affiliated entities, including Richard Abbe, have reduced their aggregate beneficial ownership in Charlie's Holdings, Inc. to 4.8% of outstanding common stock.

Summary

• Iroquois Capital Management L.L.C., Iroquois Master Fund Ltd., Iroquois Capital Investment Group LLC, Kensington Investment Partners LLC, Richard Abbe, and Kimberly Page filed an Amendment No. 4 to Schedule 13G regarding their beneficial ownership in Charlie's Holdings, Inc.
• As of March 31, 2025, the aggregate beneficial ownership of common stock by Richard Abbe, who is associated with the various entities, stands at 12,078,473 shares.
• This aggregate ownership represents 4.8% of Charlie's Holdings, Inc.'s common stock, based on 249,565,388 shares outstanding as of November 19, 2024.
• Iroquois Capital Investment Group LLC holds 10,052,158 shares (4.0% of class).
• Iroquois Master Fund Ltd. holds 2,024,315 shares (0.8% of class).
• Kensington Investment Partners LLC holds 2,000 shares (0.001% of class).
• Richard Abbe and Kimberly Page are deemed to share beneficial ownership of shares held by Iroquois Master Fund Ltd. (2,024,315 shares).
• Richard Abbe is also deemed to share beneficial ownership of shares held by ICIG and Kensington.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to a significant investor group reducing their stake below the 5% beneficial ownership threshold, which can be interpreted as a loss of confidence or a strategic divestment.

Positives

• The continued presence of a significant institutional investor group, even at a reduced stake, indicates ongoing interest in Charlie's Holdings, Inc.

Negatives

• The aggregate beneficial ownership of the Iroquois Capital group, led by Richard Abbe, has fallen below the 5% threshold, indicating a reduction in their stake or significant dilution, which can be perceived negatively by the market.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance from the company or the reporting persons regarding future operations or financial performance.

Industry Context

This filing reflects a change in a significant institutional investor's stake in Charlie's Holdings, Inc. Such changes are common in the investment landscape and can reflect portfolio rebalancing, strategic shifts by the investor, or market-driven adjustments. Without further context on the company's performance or the investor's strategy, it is difficult to ascertain broader industry implications.

Stakeholder Impact

• Shareholders: May view the reduction in a significant investor's stake as a negative signal, potentially impacting investor confidence and share price.

Key Dates

Keywords

Charlie's Holdings Inc., Schedule 13G, Beneficial Ownership, Iroquois Capital Management, Institutional Investor, Common Stock, SEC Filing, Investment Stake