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10-Q Filing

22ND CENTURY GROUP, INC. CIK: 1347858 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001104659-20-057913
Period End Date 20200331
Filing Date 20200507
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance xxii-20200331.xml
Filing Contents
Balance Sheet 79 line items
Line Item Tag Value Unit Period
Preferred stock, shares authorized PreferredStockSharesAuthorized 10.00M shares Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 10.00M shares Point-in-time
Preferred stock, par value PreferredStockParOrStatedValuePerShare - USD Point-in-time
Preferred stock, par value PreferredStockParOrStatedValuePerShare - USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $485.00K USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 300.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $719.00K USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 300.00M shares Point-in-time
Short-term investment securities ShortTermInvestments $38.48M USD Point-in-time
Short-term investment securities ShortTermInvestments $33.27M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare - USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare - USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.13M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $867.00K USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 138.85M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 138.36M shares Point-in-time
Inventory, net InventoryNet $2.45M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 138.36M shares Point-in-time
Inventory, net InventoryNet $2.27M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 138.85M shares Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $922.00K USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $648.00K USD Point-in-time
Total current assets AssetsCurrent $38.49M USD Point-in-time
Total current assets AssetsCurrent $42.74M USD Point-in-time
Machinery and equipment, net MachineryAndEquipmentNet $3.12M USD Point-in-time
Machinery and equipment, net MachineryAndEquipmentNet $2.97M USD Point-in-time
Operating leases right-of-use assets, net OperatingLeaseRightOfUseAsset $602.00K USD Point-in-time
Operating leases right-of-use assets, net OperatingLeaseRightOfUseAsset $729.00K USD Point-in-time
Operating leases right-of-use assets, net OperatingLeaseRightOfUseAsset $447.00K USD Point-in-time
Total property, plant and equipment PropertyPlantAndEquipmentNet $3.72M USD Point-in-time
Total property, plant and equipment PropertyPlantAndEquipmentNet $3.70M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $8.51M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $8.49M USD Point-in-time
Investments LongTermInvestments $8.10M USD Point-in-time
Investments LongTermInvestments $8.40M USD Point-in-time
Convertible note ConvertibleNotesReceivable $5.59M USD Point-in-time
Convertible note ConvertibleNotesReceivable $5.66M USD Point-in-time
Total other assets AssetsNoncurrentExcludingPropertyPlantAndEquipmentNet $22.49M USD Point-in-time
Total other assets AssetsNoncurrentExcludingPropertyPlantAndEquipmentNet $22.27M USD Point-in-time
Total assets Assets $68.95M USD Point-in-time
Total assets Assets $64.46M USD Point-in-time
Notes payable NotesPayableCurrent $581.00K USD Point-in-time
Notes payable NotesPayableCurrent $587.00K USD Point-in-time
Operating lease obligations OperatingLeaseLiabilityCurrent $220.00K USD Point-in-time
Operating lease obligations OperatingLeaseLiabilityCurrent $301.00K USD Point-in-time
Accounts payable AccountsPayableCurrent $1.45M USD Point-in-time
Accounts payable AccountsPayableCurrent $2.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $2.43M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $2.62M USD Point-in-time
Accrued severance AccruedSeveranceLiabilitiesCurrent $199.00K USD Point-in-time
Accrued severance AccruedSeveranceLiabilitiesCurrent $359.00K USD Point-in-time
Deferred income DeferredRevenueCurrent $5.00K USD Point-in-time
Deferred income DeferredRevenueCurrent $71.00K USD Point-in-time
Total current liabilities LiabilitiesCurrent $5.78M USD Point-in-time
Total current liabilities LiabilitiesCurrent $5.04M USD Point-in-time
Notes payable LongTermNotesPayable $292.00K USD Point-in-time
Notes payable LongTermNotesPayable $292.00K USD Point-in-time
Operating lease obligations OperatingLeaseLiabilityNoncurrent $429.00K USD Point-in-time
Operating lease obligations OperatingLeaseLiabilityNoncurrent $382.00K USD Point-in-time
Severance Obligations DefinedBenefitPlanBenefitObligation $446.00K USD Point-in-time
Severance Obligations DefinedBenefitPlanBenefitObligation $399.00K USD Point-in-time
Total liabilities Liabilities $6.16M USD Point-in-time
Total liabilities Liabilities $6.90M USD Point-in-time
Commitments and contingencies (Note 11) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 11) CommitmentsAndContingencies - USD Point-in-time
Common stock value CommonStockValue $1.00K USD Point-in-time
Common stock value CommonStockValue $1.00K USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $187.74M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $188.22M USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-186.00K USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $7.00K USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-125.69M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-129.72M USD Point-in-time
Total shareholders' equity StockholdersEquity $71.28M USD Point-in-time
Total shareholders' equity StockholdersEquity $69.82M USD Point-in-time
Total shareholders' equity StockholdersEquity $62.05M USD Point-in-time
Total shareholders' equity StockholdersEquity $58.31M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $64.46M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $68.95M USD Point-in-time
Income Statement 48 line items
Line Item Tag Value Unit Period
Sale of products, net Revenues $6.29M USD 1 Quarter
Sale of products, net Revenues $7.06M USD 1 Quarter
Products CostOfGoodsAndServicesSold $6.77M USD 1 Quarter
Products CostOfGoodsAndServicesSold $6.40M USD 1 Quarter
Gross profit (loss) GrossProfit $-103.00K USD 1 Quarter
Gross profit (loss) GrossProfit $287.00K USD 1 Quarter
Research and development (including equity-based compensation of $41 and $100, respectively) ResearchAndDevelopmentExpense $960.00K USD 1 Quarter
Research and development (including equity-based compensation of $41 and $100, respectively) ResearchAndDevelopmentExpense $2.45M USD 1 Quarter
Sales, general and administrative (including equity-based compensation of $439 and $349, respectively) SellingGeneralAndAdministrativeExpense $3.14M USD 1 Quarter
Sales, general and administrative (including equity-based compensation of $439 and $349, respectively) SellingGeneralAndAdministrativeExpense $2.47M USD 1 Quarter
Depreciation Depreciation $135.00K USD 1 Quarter
Depreciation Depreciation $156.00K USD 1 Quarter
Amortization OtherAmortizationOfDeferredCharges $172.00K USD 1 Quarter
Amortization OtherAmortizationOfDeferredCharges $216.00K USD 1 Quarter
Total operating expenses OperatingExpenses $5.28M USD 1 Quarter
Total operating expenses OperatingExpenses $4.43M USD 1 Quarter
Operating loss OperatingIncomeLoss $-5.38M USD 1 Quarter
Operating loss OperatingIncomeLoss $-4.14M USD 1 Quarter
Unrealized (loss) gain on investment UnrealizedGainLossOnInvestments $2.97M USD 1 Quarter
Unrealized (loss) gain on investment UnrealizedGainLossOnInvestments $-445.00K USD 1 Quarter
Realized (loss) on short-term investment securities MarketableSecuritiesRealizedGainLoss $-3.00K USD 1 Quarter
Realized (loss) on short-term investment securities MarketableSecuritiesRealizedGainLoss $-16.00K USD 1 Quarter
Gain on the sale of machinery and equipment GainLossOnSaleOfPropertyPlantEquipment - USD 1 Quarter
Gain on the sale of machinery and equipment GainLossOnSaleOfPropertyPlantEquipment $87.00K USD 1 Quarter
Interest income, net InvestmentIncomeNonoperating $612.00K USD 1 Quarter
Interest income, net InvestmentIncomeNonoperating $272.00K USD 1 Quarter
Interest expense InterestExpense $12.00K USD 1 Quarter
Interest expense InterestExpense $11.00K USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $152.00K USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $3.31M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-3.99M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-2.07M USD 1 Quarter
Income taxes - deferred IncomeTaxExpenseBenefit $38.00K USD 1 Quarter
Income taxes - deferred IncomeTaxExpenseBenefit - USD 1 Quarter
Net loss NetIncomeLoss $-4.03M USD 1 Quarter
Net loss NetIncomeLoss $-2.07M USD 1 Quarter
Unrealized (loss) gain on short-term investment securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-196.00K USD 1 Quarter
Unrealized (loss) gain on short-term investment securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $147.00K USD 1 Quarter
Reclassification of losses to net loss ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax $-16.00K USD 1 Quarter
Reclassification of losses to net loss ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax $-3.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-193.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $163.00K USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-4.22M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-1.91M USD 1 Quarter
Net loss per common share - basic and diluted EarningsPerShareBasicAndDiluted $-0.03 USD 1 Quarter
Net loss per common share - basic and diluted EarningsPerShareBasicAndDiluted $-0.02 USD 1 Quarter
Common shares used in basic and diluted net loss per share calculation WeightedAverageNumberOfShareOutstandingBasicAndDiluted 138.85M shares 1 Quarter
Common shares used in basic and diluted net loss per share calculation WeightedAverageNumberOfShareOutstandingBasicAndDiluted 124.64M shares 1 Quarter
Cash Flow Statement 74 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-4.03M USD 1 Quarter
Net loss NetIncomeLoss $-2.07M USD 1 Quarter
Amortization and depreciation DepreciationDepletionAndAmortization $268.00K USD 1 Quarter
Amortization and depreciation DepreciationDepletionAndAmortization $291.00K USD 1 Quarter
Amortization of license fees AmortizationOfLicenseFees $60.00K USD 1 Quarter
Amortization of license fees AmortizationOfLicenseFees $60.00K USD 1 Quarter
Lease expense LeaseExpense $71.00K USD 1 Quarter
Lease expense LeaseExpense $55.00K USD 1 Quarter
Unrealized gain on investment UnrealizedGainLossOnInvestments $2.97M USD 1 Quarter
Unrealized gain on investment UnrealizedGainLossOnInvestments $-445.00K USD 1 Quarter
Realized loss on short-term investment securities MarketableSecuritiesRealizedGainLoss $-3.00K USD 1 Quarter
Realized loss on short-term investment securities MarketableSecuritiesRealizedGainLoss $-16.00K USD 1 Quarter
Gain on the sale of machinery and equipment GainLossOnSaleOfPropertyPlantEquipment - USD 1 Quarter
Gain on the sale of machinery and equipment GainLossOnSaleOfPropertyPlantEquipment $87.00K USD 1 Quarter
Accretion of interest on notes payable and accrued severance AccretionExpense $11.00K USD 1 Quarter
Accretion of interest on notes payable and accrued severance AccretionExpense $12.00K USD 1 Quarter
Accretion of interest on Panacea investments AccretedInterestIncomeOnConvertibleNoteReceivable $209.00K USD 1 Quarter
Accretion of interest on Panacea investments AccretedInterestIncomeOnConvertibleNoteReceivable - USD 1 Quarter
Equity-based compensation ShareBasedCompensation $481.00K USD 1 Quarter
Equity-based compensation ShareBasedCompensation $449.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $266.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $604.00K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $182.00K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $290.00K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidExpense $-43.00K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidExpense $273.00K USD 1 Quarter
Operating lease obligations IncreaseDecreaseInOperatingLeaseLiability $-70.00K USD 1 Quarter
Operating lease obligations IncreaseDecreaseInOperatingLeaseLiability $-55.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-639.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $415.00K USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-129.00K USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-188.00K USD 1 Quarter
Accrued severance IncreaseDecreaseInAccruedSeverance - USD 1 Quarter
Accrued severance IncreaseDecreaseInAccruedSeverance $-213.00K USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $191.00K USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $66.00K USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-4.66M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-4.68M USD 1 Quarter
Acquisition of patents and trademarks PaymentsToAcquireIntangibleAssets $103.00K USD 1 Quarter
Acquisition of patents and trademarks PaymentsToAcquireIntangibleAssets $7.00K USD 1 Quarter
Acquisition of machinery and equipment PaymentsToAcquireMachineryAndEquipment $8.00K USD 1 Quarter
Acquisition of machinery and equipment PaymentsToAcquireMachineryAndEquipment $125.00K USD 1 Quarter
Proceeds from the sale of machinery and equipment ProceedsFromPaymentsForSaleOfMachineryAndEquipment - USD 1 Quarter
Proceeds from the sale of machinery and equipment ProceedsFromPaymentsForSaleOfMachineryAndEquipment $-166.00K USD 1 Quarter
Sales and maturities of short-term investment securities ProceedsFromSaleAndMaturityOfTradingSecuritiesHeldforinvestment $11.61M USD 1 Quarter
Sales and maturities of short-term investment securities ProceedsFromSaleAndMaturityOfTradingSecuritiesHeldforinvestment $8.41M USD 1 Quarter
Purchase of short-term investment securities PaymentsToAcquireShortTermInvestments $6.61M USD 1 Quarter
Purchase of short-term investment securities PaymentsToAcquireShortTermInvestments $3.77M USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $4.67M USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $4.90M USD 1 Quarter
Payment on note payable RepaymentsOfNotesPayable - USD 1 Quarter
Payment on note payable RepaymentsOfNotesPayable - USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities - USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities - USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $234.00K USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-15.00K USD 1 Quarter
Cash and cash equivalents - beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $719.00K USD Point-in-time
Cash and cash equivalents - beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $590.00K USD Point-in-time
Cash and cash equivalents - beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $485.00K USD Point-in-time
Cash and cash equivalents - beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $605.00K USD Point-in-time
Cash and cash equivalents - end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $719.00K USD Point-in-time
Cash and cash equivalents - end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $590.00K USD Point-in-time
Cash and cash equivalents - end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $485.00K USD Point-in-time
Cash and cash equivalents - end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $605.00K USD Point-in-time
Cash paid during the period for interest InterestPaidNet - USD 1 Quarter
Cash paid during the period for interest InterestPaidNet - USD 1 Quarter
Cash paid during the period for income taxes IncomeTaxesPaid - USD 1 Quarter
Cash paid during the period for income taxes IncomeTaxesPaid - USD 1 Quarter
Patent and trademark additions included in accounts payable PatentAndTrademarkAdditionsIncludedInAccountsPayable $88.00K USD 1 Quarter
Patent and trademark additions included in accounts payable PatentAndTrademarkAdditionsIncludedInAccountsPayable $180.00K USD 1 Quarter
Machinery and equipment additions included in accounts payable MachineryAndEquipmentAdditionsIncludedInAccountsPayable $161.00K USD 1 Quarter
Machinery and equipment additions included in accounts payable MachineryAndEquipmentAdditionsIncludedInAccountsPayable - USD 1 Quarter
Right-of-use assets and corresponding operating lease obligations RightOfUseAssetsAndCorrespondingOperatingLeaseObligations $814.00K USD 1 Quarter
Right-of-use assets and corresponding operating lease obligations RightOfUseAssetsAndCorrespondingOperatingLeaseObligations $198.00K USD 1 Quarter
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $71.28M USD Point-in-time
Beginning balance StockholdersEquity $69.82M USD Point-in-time
Beginning balance StockholdersEquity $62.05M USD Point-in-time
Beginning balance StockholdersEquity $58.31M USD Point-in-time
Stock issued in connection with RSU vesting StockIssuedDuringPeriodValueRestrictedStockAwardGross - USD 1 Quarter
Stock issued in connection with option exercises StockIssuedDuringPeriodValueStockOptionsExercised - USD 1 Quarter
Equity-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $480.00K USD 1 Quarter
Equity-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $449.00K USD 1 Quarter
Unrealized loss on short-term investment securities UnrealizedLossOnSecurities $196.00K USD 1 Quarter
Unrealized gain on short-term investment securities OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax $147.00K USD 1 Quarter
Reclassification of losses to net loss OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax $3.00K USD 1 Quarter
Reclassification of losses to net loss OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax $16.00K USD 1 Quarter
Net loss NetIncomeLoss $-4.03M USD 1 Quarter
Net loss NetIncomeLoss $-2.07M USD 1 Quarter
Ending balance StockholdersEquity $71.28M USD Point-in-time
Ending balance StockholdersEquity $69.82M USD Point-in-time
Ending balance StockholdersEquity $62.05M USD Point-in-time
Ending balance StockholdersEquity $58.31M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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