10-Q
Quarterly Report
22nd Century Group, Inc.
XXII
NASDAQ
CIK: 1347858
File #: 001-36338
Balance Sheet
48 line items · 2 periods
XBRL
| Item | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
CONDENSED CONSOLIDATED BALANCE SHEETS | ||
ASSETS | ||
Current assets: | ||
Cash and cash equivalents | 4,846,000 | 4,422,000 |
Accounts receivable, net | 2,993,000 | 1,698,000 |
Inventories | 2,906,000 | 2,015,000 |
Insurance recoveries | 9,500,000 | 768,000 |
GVB promissory note, net | — | 500,000 |
Prepaid expenses and other current assets | 2,678,000 | 1,068,000 |
Current assets of discontinued operations held for sale | 0 | 1,051,000 |
Held for sale | — | 1,051,000 |
Total current assets | 22,923,000 | 11,522,000 |
Property, plant and equipment, net | 2,452,000 | 2,773,000 |
Operating lease right-of-use assets, net | 767,000 | 1,639,000 |
Intangible assets, net | 6,210,000 | 5,724,000 |
Other assets | 15,000 | 15,000 |
Total assets | 32,367,000 | 21,673,000 |
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY | ||
Current liabilities: | ||
Notes and loans payable - current | 368,000 | 254,000 |
Current portion of long-term debt | — | 1,500,000 |
Operating lease obligations | 163,000 | 261,000 |
Accounts payable | 2,598,000 | 2,401,000 |
Accrued expenses | 2,234,000 | 1,021,000 |
Accrued litigation | — | 768,000 |
Accrued payroll | 140,000 | 318,000 |
Accrued excise taxes and fees | 3,399,000 | 2,038,000 |
Deferred income | 79,000 | 20,000 |
Other current liabilities | 1,231,000 | 100,000 |
Current liabilities of discontinued operations held for sale | 333,000 | 1,281,000 |
Held for sale | 333,000 | 1,281,000 |
Total current liabilities | 10,545,000 | 9,962,000 |
Long-term liabilities: | ||
Operating lease obligations | 644,000 | 1,437,000 |
Long-term debt | — | 5,165,000 |
Other long-term liabilities | 74,000 | 1,097,000 |
Total liabilities | 11,263,000 | 17,661,000 |
Mezzanine Equity | ||
Series A convertible preferred shares, $0.00001 par value; 9,650 shares issued and outstanding at September 30, 2025 and 0 at December 31, 2024, respectively | 2,734,000 | — |
Series A Convertible | 2,734,000 | — |
Total mezzanine equity | 2,734,000 | — |
Shareholders' equity: | ||
Capital in excess of par value | 414,487,000 | 397,883,000 |
Accumulated deficit | (396,117,000) | (393,871,000) |
Total shareholders' equity | 18,370,000 | 4,012,000 |
Accumulated Deficit | (396,117,000) | (393,871,000) |
Capital in Excess of Par Value | 414,487,000 | 397,883,000 |
Total liabilities, mezzanine equity and shareholders' equity | 32,367,000 | 21,673,000 |