CHUC Charlie’s Holdings
BEST Nicotine Vape Stock

One of the Largest PMTA Submitted synthetic nicotine product portfolios

CHUC has a portfolio of 650+ PMTAs, primarily for flavored products. The company believes these PMTAs, as a stand alone asset have an imputed value of over $650MM.

These PMTAs offer Big Tobacco companies a “shortcut” and “legal backdoor into flavored vapor sales, saving tens of millions in compliance, testing and development costs.

The company looks to secure strategic partnerships or licensing deals with other Big Tobacco players and Chinese manufacturers looking for a compliant path into the US market.

Big Tobacco Player Acquires CHUC PMTAs

Into Q3 2025, Charlie’s sold sixteen (16) of the Company’s PACHA synthetic nicotine PMTA products and related assets to one of the world’s largest tobacco companies.

The sale price, in three separate transactions, was $7.5MM, plus a contigent payment of up to $4.2 MM.

This gives an imputed value of CHUC’s PMTA portfolio of over $650MM

R.J. Reynolds Acquires Vape PMTAs from Charlie’s Holdings

BAT Subsidiary Acquires Three More CHUC E-Cigarette Products

RJ Reynolds Third Round Deal: $1 Million Acquisition of PMTA

Reynolds set to launch a new vaping product

What Could CHUC PMTAs Really Be Worth?

We think the market is missing the BIG PICTURE with PMTA products portfolio.

When CHUC was struggling financially, management loaned the company money and they also SOLD 16 of their PMTAs (last one for $1M) to build up working capital…they weren’t in a position to negotiate.

With each PMTA sale, the company’s financial position improved, and the average sale price per PMTA went up.

The last sale gives an imputed value of their portfolio of $679MM (approx $1MM X 679)…BUT here is what market hasn’t priced in.

The market is NOT FACTORING is the possible recurring licensing revenue opportunity of those 679 PMTAs.

On April 16, 2025 Charlies sold 12 PMTAs to “Big Tobacco” which included a one time contingent payment of up to $4.2MM (almost as much as the sale price) for just ONE YEAR following the first day of commercialization.

Now that the company is in much better financial shape, there should be a greater incentive to SELL each PMTA WITH a licensing deal.

A licensing deal could be 5% (industry standard) on future sales of the PMTA going forward.

So…the market should not ONLY look at the imputed value of $679MM but also consider what a possible  recurring revenue stream could look like as well.

Maybe that’s why President Henry Sicignano said in a recent interview, “hopefully to a market cap well north of $1 billion”

Will Big Tobacco Be Forced To Acquire CHUC? 

Here is a summary on why Big Tobacco may be forced to acquire CHUC in order to overcome Chinese Tariffs, FDA crackdowns, new state laws and age verification for vaping industry.

Is CHUC Big Tobacco’s SECRET Vape Buyout?

SBX Best Selling Non Nicotine Flavored Vape

To mitigate regulatory risk, CHUC entered the nicotine substitue product category with SBX, a proprietary, non nicotine, non tobacco alkaloid for vapor products.

SBX could become a “category killer” for the nicotine vaping space.

It is not made or derived from tobacco and contains no nicotine, the FDA’s Center for Tobacco Products (CTP) does not have jurisdiction to regulate it, providing a “regulatory loophole”

SBX products, have shown strong consumer preference for flavored, nicotine-free alternatives.

Focus groups showed Charlie’s non nicotine SBX Disposables were preferred over Juul tobacco-flavored vapes by a 15:1 margin.

SBX offers many more flavor options, unbeatable tax advantages, and thousands more puffs compared to mass market vapes.

Charlie’s Holdings Launches Highly Disruptive SBX Vape

CHUC Strategic DUAL Approach with Flavored Nicotine 

Here’s the threat to Big Tobacco.

SBX, is becoming the BEST SELLING flavored nicotine vape.

Their award winning flavors are LEGAL across almost all 50 states, not subject to Federal restrictions AND nicotine tax exempt in many states.

While Big Tobacco is having their vapes stopped at the border, banned by FDA and states, CHUC’s SBX has the potential to become the LEADER in the $8B flavored nicotine vape space.

One Big Tobacco player recognized this and purchased 16 of CHUC’s PMTAs in order to legally compete.

So CHUC sits with a flavored vape they can sell legally AND 650+ PMTAs that could enable Big Tobacco to “re-enter” the space. 

Can you see why CHUC could be a Big Tobacco buyout?

US Vape Manufacturing Facility “Filled in the USA”

The U.S. vape device market is almost totally dependent on Chinese manufacturing, meaning the new Trump Administration tariffs raise wholesale costs dramatically for importers and retailers.

New state registry laws outright ban most imported flavored disposable vapes, primarily those manufactured in China, by requiring U.S. filled, FDA registered sourcing.

CHUC plans to roll out a U.S. filled product line by Q4 2025, satisfying these domestic manufacaturing mandates.

In addition to mitigating shipping delays and tariff costs, the US-filled line will enable Charlie’s to meet new domestic manufacturing requirements that have been announced by large states.

Age Gating Technology For Vaping Industry

CHUC is developing patented “age-gating” technology involving biometrics to prevent underage access to vaping products.

This “product of merit” could allow CHUC to sell flavored disposables legally even if the FDA rejects others due to youth adoption risks. This technology, spearheaded by board member Dr. Edward Carmines (a world-renoowned expert in e-cigarettes and PMTA submissions) offers a “multi billion dollar licensing opportunity” for ALL vaping companies (nicotine and marijuana)

Large Management Ownership And Funding

Inisder buying can be a great indicator to see how much faith executives have in a small company, but insider funding and reduced salaries could imply even more.

Management and Founders own 45.3%

Management, Founders and Employees have provided several rounds of funding in the past 3 years and imposed executive salary reductions.

Independent Board Member provides favorable $2 million credit facility