22nd Century Group, Inc.
For the period ended Dec 31, 2024. Filed Mar 20, 2025.
View on SEC.govAbout 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.
FY2024 · Filed Mar 20, 2025
XXII$1.42-12.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| | |
|---|---|
| 22nd CENTURY GROUP, INC. AND SUBSIDIARIES | |
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |
| (amounts in thousands) | |
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Year Ended | ||||||
| · · December 31, | ||||||
| · 2024 · 2023 | ||||||
| Cash flows from operating activities: · · | ||||||
| Net loss | | $(15,164) | | $(140,775) | ||
| Adjustments to reconcile net loss to cash used in operating activities: | | | ||||
| Impairment of goodwill and long-lived assets | | | 68 | | | 3,297 |
| Amortization and depreciation | | 1,003 | | 3,951 | ||
| Amortization of right-of-use asset | | 255 | | 908 | ||
| Other non-cash gains | | | (947) | | | (15) |
| Provision for credit losses | | | 1 | | | 1,024 |
| Loss on sale or disposal of machinery and equipment | | 127 | | 73 | ||
| Debt related charges included in interest expense | | | 2,174 | | | 8,006 |
| Equity-based compensation | | 380 | | 2,679 | ||
| Gain on change of contingent consideration | | — | | (1,138) | ||
| Change in fair value of warrant liabilities | | | (492) | | | (364) |
| Change in fair value of derivative liability | | | (556) | | | 557 |
| Loss on disposal of discontinued operations | | | — | | | 58,521 |
| Loss on transfer of promissory note | | | — | | | 895 |
| Deferred income taxes | | | 8 | | | 434 |
| Change in inventory reserves | | | (4,374) | | | 8,695 |
| Changes in operating assets and liabilities, net of acquisition: | | | | |||
| Accounts receivable | | (30) | | (18) | ||
| Inventories | | 6,705 | | (5,925) | ||
| Prepaid expenses and other assets | | 159 | | 451 | ||
| Accounts payable | | (1,169) | | 4,752 | ||
| Accrued expenses | | (475) | | 681 | ||
| Accrued payroll | | (565) | | (2,153) | ||
| Accrued excise taxes and fees | | (196) | | 811 | ||
| Other liabilities | | | (1,257) | | (334) | |
| Net cash used in operating activities | | (14,345) | | (54,987) | ||
| Cash flows from investing activities: | | | | |||
| Acquisition of patents, trademarks, and licenses | | (20) | | (961) | ||
| Acquisition of property, plant and equipment | | (141) | | (4,656) | ||
| Proceeds from the sale of property, plant and equipment | | 22 | | 283 | ||
| Acquisition, net of cash acquired | | | — | | | (254) |
| Proceeds from sale of discontinued operations | | | — | | | 665 |
| Property, plant and equipment insurance proceeds | | | — | | | 3,500 |
| Sales and maturities of short-term investment securities | | — | | 21,714 | ||
| Purchase of short-term investment securities | | — | | (3,475) | ||
| Net cash (used in) provided by investing activities | | (139) | | 16,816 | ||
| Cash flows from financing activities: | | | | |||
| Payments on notes payable | | | (1,546) | | | (5,581) |
| Proceeds from issuance of notes payable | | | 1,256 | | | 2,360 |
| Payments of long-term debt | | | (1,302) | | | (9,700) |
| Proceeds from issuance of long-term debt | | | — | | | 16,849 |
| Payment of debt issuance costs | | | — | | | (801) |
| Proceeds from issuance of detachable warrants | | | — | | | 6,016 |
| Net proceeds from warrant exercise | | | 3,354 | | | 3,044 |
| Proceeds from issuance of common stock related to the ATM | | | — | | | 2,741 |
| Payment of common stock issuance costs related to the ATM | | | — | | | (178) |
| Proceeds from issuance of common stock | | | 16,132 | | | 25,158 |
| Payment of common stock issuance costs | | | (1,045) | | | (2,279) |
| Taxes paid related to net share settlement of RSUs | | | (1) | | | (420) |
| Net cash provided by financing activities | | 16,848 | | 37,209 | ||
| Net increase (decrease) in cash, cash equivalents and restricted cash | | 2,364 | | (962) | ||
| Cash and cash equivalents - beginning of period | | 2,058 | | 3,020 | ||
| Cash and cash equivalents - end of period | | $4,422 | | $2,058 | ||
| | | | | | | |
| Supplemental disclosures of cash flow information: | | | ||||
| Net cash paid for: | | | ||||
| Cash paid during the period for interest | | $722 | | $1,313 | ||
| Cash paid during the period for income taxes | | $22 | | $40 | ||
| Non-cash transactions: | | | ||||
| Capital expenditures incurred but not yet paid | | $43 | | $118 | ||
| Right-of-use assets and corresponding operating lease obligations | | $— | | $5,166 | ||
| Deemed dividends | | $10,303 | | $9,992 | ||
| Stock issued in connection with settled indebtedness | | $1,617 | | $— | ||
| Non-cash consideration RXP acquisition | | $— | | $1,641 | ||
| Non-cash licensing arrangement | | $250 | | $3,500 | ||
| Stock issued for extinguishment of Subordinated Note | | $3,864 | | $— | ||
| Payment of GVB Promissory Note | | $1,500 | | $2,600 | ||
| Insurance/litigation gross up | | $— | | $3,768 | ||
| Non-cash proceeds from sale of discontinued operations | | $— | | $2,000 | ||
| Payment of debt issuance costs | | $603 | | $— | ||
| Equity conversion of Senior Secured Credit Facility | | $3,084 | | $— | ||
22nd CENTURY GROUP, INC. AND SUBSIDIARIES
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.