10-Q
Quarterly Report
22nd Century Group, Inc.
XXII
NASDAQ
CIK: 1347858
File #: 001-36338
Balance Sheet
37 line items · 2 periods
XBRL
| Item | Mar 31, 2026 | Dec 31, 2025 |
|---|---|---|
CONDENSED CONSOLIDATED BALANCE SHEETS | ||
ASSETS | ||
Current assets: | ||
Cash and cash equivalents | 9,545,000 | 7,149,000 |
Accounts receivable, net | 4,779,000 | 3,594,000 |
Inventories | 4,346,000 | 4,326,000 |
Prepaid expenses and other current assets | 2,400,000 | 2,562,000 |
Total current assets | 21,070,000 | 17,631,000 |
Property, plant and equipment, net | 2,366,000 | 2,440,000 |
Operating lease right-of-use assets, net | 688,000 | 728,000 |
Intangible assets, net | 6,137,000 | 6,224,000 |
Other assets | 49,000 | — |
Total assets | 30,310,000 | 27,023,000 |
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY | ||
Current liabilities: | ||
Notes and loans payable-current | 113,000 | 204,000 |
Operating lease obligations | 172,000 | 168,000 |
Accounts payable | 1,025,000 | 1,000,000 |
Accrued expenses and other current liabilities | 1,135,000 | 836,000 |
Accrued excise taxes and fees | 3,525,000 | 3,343,000 |
Contract liabilities | 1,936,000 | 1,721,000 |
Total current liabilities | 7,906,000 | 7,272,000 |
Long-term liabilities: | ||
Notes and loans payable | 475,000 | 504,000 |
Operating lease obligations | 556,000 | 601,000 |
Other long-term liabilities | 155,000 | 154,000 |
Total liabilities | 9,092,000 | 8,531,000 |
Mezzanine equity: | ||
Series A convertible preferred shares, $0.00001 par value; 10,000,000 shares authorized, 0 shares issued and outstanding at March 31, 2026 and 9,650 at December 31, 2025, respectively | — | 2,734,000 |
Series A Convertible Preferred Shares | — | 2,734,000 |
Shareholders' equity: | ||
Capital in excess of par value | 423,404,000 | 414,683,000 |
Accumulated deficit | (402,186,000) | (398,925,000) |
Total shareholders' equity | 21,218,000 | 15,758,000 |
Accumulated Deficit | (402,186,000) | (398,925,000) |
Capital in Excess of Par Value | 423,404,000 | 414,683,000 |
Total liabilities, mezzanine equity and shareholders' equity | 30,310,000 | 27,023,000 |