I just had the same problem with my stand... the tightening bolt stripped out 5 minutes before a gig. Had to get creative with a roll of packaging tape and spent the whole show wondering if it would hold. (It did, thankfully.

)
I contacted Mark because I bought it through him, and through him, NS sent a new bolt. I'm worried it's going to do the same thing again though, since it's the same inexpensive feeling bolt.
@Blu bro - do you remember what size bolt you got? I went to the hardware store as well, but couldn't find one that was quite the right size. (1/4" was just a liiiiittttlllleee bit too big, despite what the clerk said when he used a sizing gauge.) I ended up having to get a thinner one and use washers on each side, which still doesn't quite hold the clamp together the right way... even when I have it as tight as I can get it, the top post can shift around.
I've been tempted to upgrade the stand completely because the CR stand looks like drum hardware, but having to spend another $225 to get a reliable functioning stand is a little bit "salt in the wound."
5sg.