10-Q
Quarterly Report
22nd Century Group, Inc.
XXII
NASDAQ
CIK: 1347858
File #: 001-36338
Balance Sheet
45 line items · 2 periods
XBRL
| Item | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|
CONDENSED CONSOLIDATED BALANCE SHEETS | ||
ASSETS | ||
Current assets: | ||
Cash and cash equivalents | 1,517,000 | 2,058,000 |
Accounts receivable, net | 1,747,000 | 1,671,000 |
Inventories | 2,889,000 | 4,346,000 |
Insurance recoveries | 3,768,000 | 3,768,000 |
GVB promissory note | 2,000,000 | 2,000,000 |
Prepaid expenses and other current assets | 699,000 | 1,180,000 |
Current assets of discontinued operations held for sale | 1,093,000 | 1,254,000 |
Held for sale | 1,093,000 | 1,254,000 |
Total current assets | 13,713,000 | 16,277,000 |
Property, plant and equipment, net | 3,236,000 | 3,393,000 |
Operating lease right-of-use assets, net | 1,832,000 | 1,894,000 |
Intangible assets, net | 5,820,000 | 5,924,000 |
Other assets | 15,000 | 15,000 |
Total assets | 24,616,000 | 27,503,000 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Current liabilities: | ||
Notes and loans payable - current | — | 543,000 |
Current portion of long-term debt | 6,577,000 | 5,848,000 |
Senior Secured Credit Facility - JGB | 3,000,000 | — |
Operating lease obligations | 238,000 | 231,000 |
Accounts payable | 5,046,000 | 4,445,000 |
Accrued expenses | 1,449,000 | 1,322,000 |
Accrued litigation | 3,768,000 | 3,768,000 |
Accrued payroll | 466,000 | 883,000 |
Accrued excise taxes and fees | 2,525,000 | 2,234,000 |
Deferred income | 376,000 | 726,000 |
Other current liabilities | 1,672,000 | 1,849,000 |
Current liabilities of discontinued operations held for sale | 3,147,000 | 3,185,000 |
Held for sale | 3,147,000 | 3,185,000 |
Total current liabilities | 25,264,000 | 25,034,000 |
Long-term liabilities: | ||
Operating lease obligations | 1,635,000 | 1,698,000 |
Long-term debt | 8,136,000 | 8,058,000 |
Other long-term liabilities | 1,205,000 | 1,123,000 |
Total liabilities | 36,240,000 | 35,914,000 |
Shareholders' equity (deficit) | ||
Capital in excess of par value | 372,822,000 | 370,297,000 |
Accumulated deficit | (384,446,000) | (378,707,000) |
Total shareholders' deficit | (11,624,000) | (8,410,000) |
Accumulated Deficit | (384,446,000) | (378,707,000) |
Capital in Excess of Par Value | 372,822,000 | 370,297,000 |
Total liabilities and shareholders' deficit | 24,616,000 | 27,503,000 |