10-Q
Quarterly Report
22nd Century Group, Inc.
XXII
NASDAQ
CIK: 1347858
File #: 001-36338
Balance Sheet
44 line items · 2 periods
XBRL
| Item | Mar 31, 2025 | Dec 31, 2024 |
|---|---|---|
CONDENSED CONSOLIDATED BALANCE SHEETS | ||
ASSETS | ||
Current assets: | ||
Cash and cash equivalents | 1,133,000 | 4,422,000 |
Accounts receivable, net | 4,322,000 | 1,698,000 |
Inventories | 2,555,000 | 2,015,000 |
Insurance recoveries | 768,000 | 768,000 |
GVB promissory note | — | 500,000 |
Prepaid expenses and other current assets | 1,559,000 | 1,068,000 |
Current assets of discontinued operations held for sale | 758,000 | 1,051,000 |
Held for sale | 758,000 | 1,051,000 |
Total current assets | 11,095,000 | 11,522,000 |
Property, plant and equipment, net | 2,662,000 | 2,773,000 |
Operating lease right-of-use assets, net | 1,572,000 | 1,639,000 |
Intangible assets, net | 6,114,000 | 5,724,000 |
Other assets | 15,000 | 15,000 |
Total assets | 21,458,000 | 21,673,000 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Current liabilities: | ||
Notes and loans payable - current | — | 254,000 |
Current portion of long-term debt | 3,929,000 | 1,500,000 |
Operating lease obligations | 272,000 | 261,000 |
Accounts payable | 3,089,000 | 2,401,000 |
Accrued expenses | 2,121,000 | 1,021,000 |
Accrued litigation | 768,000 | 768,000 |
Accrued payroll | 208,000 | 318,000 |
Accrued excise taxes and fees | 3,849,000 | 2,038,000 |
Deferred income | 79,000 | 20,000 |
Other current liabilities | 1,223,000 | 100,000 |
Current liabilities of discontinued operations held for sale | 858,000 | 1,281,000 |
Held for sale | 858,000 | 1,281,000 |
Total current liabilities | 16,396,000 | 9,962,000 |
Long-term liabilities: | ||
Operating lease obligations | 1,363,000 | 1,437,000 |
Long-term debt | — | 5,165,000 |
Other long-term liabilities | 74,000 | 1,097,000 |
Total liabilities | 17,833,000 | 17,661,000 |
Shareholders' equity: | ||
Capital in excess of par value | 401,824,000 | 397,883,000 |
Accumulated deficit | (398,199,000) | (393,871,000) |
Total shareholders' equity | 3,625,000 | 4,012,000 |
Accumulated Deficit | (398,199,000) | (393,871,000) |
Capital in Excess of Par Value | 401,824,000 | 397,883,000 |
Total liabilities and shareholders' equity | 21,458,000 | 21,673,000 |