10-K
Annual Report
22nd Century Group, Inc.
XXII
NASDAQ
CIK: 1347858
File #: 001-36338
Balance Sheet
56 line items · 2 periods
XBRL
| Item | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|
CONSOLIDATED BALANCE SHEETS | ||
ASSETS | ||
Current assets: | ||
Cash and cash equivalents | 2,058,000 | 2,205,000 |
Short-term investment securities | — | 18,193,000 |
Accounts receivable, net | 1,671,000 | 1,363,000 |
Inventories | 4,346,000 | 7,270,000 |
Insurance recoveries | 3,768,000 | — |
GVB promissory note | 2,000,000 | — |
Prepaid expenses and other current assets | 1,180,000 | 1,928,000 |
Current assets of discontinued operations held for sale | 1,254,000 | 13,646,000 |
Held for sale - GVB Hemp/Cannabis Business | 1,254,000 | — |
Held for sale | — | 13,646,000 |
Total current assets | 16,277,000 | 44,605,000 |
Property, plant and equipment, net | 3,393,000 | 3,692,000 |
Operating lease right-of-use assets, net | 1,894,000 | 943,000 |
Intangible assets, net | 5,924,000 | 7,212,000 |
Other assets | 15,000 | 3,417,000 |
Noncurrent assets of discontinued operations held for sale | — | 54,782,000 |
Held for sale | — | 54,782,000 |
Total assets | 27,503,000 | 114,651,000 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Current liabilities: | ||
Notes and loans payable - current | 543,000 | 689,000 |
Current portion of long-term debt | 5,848,000 | — |
Senior Secured Credit Facility - JGB | 3,000,000 | — |
Operating lease obligations | 231,000 | 252,000 |
Accounts payable | 4,445,000 | 2,051,000 |
Accrued expenses | 1,322,000 | 766,000 |
Accrued litigation | 3,768,000 | — |
Accrued payroll | 883,000 | 2,662,000 |
Accrued excise taxes and fees | 2,234,000 | 1,423,000 |
Deferred income | 726,000 | 688,000 |
Other current liabilities | 1,849,000 | 349,000 |
Current liabilities of discontinued operations held for sale | 3,185,000 | 4,138,000 |
Held for sale - GVB Hemp/Cannabis Business | 3,185,000 | — |
Held for sale | — | 4,138,000 |
Total current liabilities | 25,034,000 | 13,018,000 |
Long-term liabilities: | ||
Operating lease obligations | 1,698,000 | 711,000 |
Long-term debt | 8,058,000 | — |
Other long-term liabilities | 1,123,000 | 344,000 |
Noncurrent liabilities of discontinued operations held for sale | — | 4,603,000 |
Held for sale | — | 4,603,000 |
Total liabilities | 35,914,000 | 18,676,000 |
Shareholders' equity (deficit) | ||
Capital in excess of par value | 370,297,000 | 333,900,000 |
Accumulated other comprehensive loss | — | (111,000) |
Accumulated deficit | (378,707,000) | (237,814,000) |
Total shareholders' equity (deficit) | (8,410,000) | 95,975,000 |
Cumulative Effect, Period of Adoption, Adjustment - Accumulated Deficit | (118,000) | — |
Accumulated Deficit | (378,707,000) | (237,814,000) |
Capital in Excess of Par Value | 370,297,000 | 333,900,000 |
Cumulative Effect, Period of Adoption, Adjustment | (118,000) | — |
Other Comprehensive Income (Loss) | — | (111,000) |
Total liabilities and shareholders' equity (deficit) | 27,503,000 | 114,651,000 |