22nd Century Group Inc

For the period ended Dec 31, 2023. Filed Mar 28, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 28, 2024

XXII$1.63+5.2%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets

22nd CENTURY GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS
(amounts in thousands, except share and per-share data)


· · December 31, · · December 31,
· 2023 · 2022
ASSETS · ·
Current assets: · ·
Cash and cash equivalents	$2,058	$2,205
Short-term investment securities	—	18,193
Accounts receivable, net	1,671	1,363
Inventories	4,346	7,270
Insurance recoveries	3,768	—
GVB promissory note	2,000	—
Prepaid expenses and other current assets	1,180	1,928
Current assets of discontinued operations held for sale	1,254	13,646
Total current assets	16,277	44,605
Property, plant and equipment, net	3,393	3,692
Operating lease right-of-use assets, net	1,894	943
Intangible assets, net	5,924	7,212
Other assets	15	3,417
Noncurrent assets of discontinued operations held for sale	—	54,782
Total assets	$27,503	$114,651

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Notes and loans payable - current	$543	$689
Current portion of long-term debt	5,848	—
Operating lease obligations	231	252
Accounts payable	4,445	2,051
Accrued expenses	1,322	766
Accrued litigation	3,768	—
Accrued payroll	883	2,662
Accrued excise taxes and fees	2,234	1,423
Deferred income	726	688
Other current liabilities	1,849	349
Current liabilities of discontinued operations held for sale	3,185	4,138
Total current liabilities	25,034	13,018
Long-term liabilities:
Operating lease obligations	1,698	711
Long-term debt	8,058	—
Other long-term liabilities	1,123	344
Noncurrent liabilities of discontinued operations held for sale	—	4,603
Total liabilities	35,914	18,676
Commitments and contingencies (Note 12)
Shareholders' equity (deficit)
Preferred stock, $.00001 par value, 10,000,000 shares authorized
Common stock, $.00001 par value, 66,666,667 shares authorized
Capital stock issued and outstanding:
43,525,862 common shares (14,349,275 at December 31, 2022)
Common stock, par value	—	—
Capital in excess of par value	370,297	333,900
Accumulated other comprehensive loss	—	(111)
Accumulated deficit	(378,707)	(237,814)
Total shareholders' equity (deficit)	(8,410)	95,975
Total liabilities and shareholders’ equity (deficit)	$27,503	$114,651

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.