10-Q Filing

22ND CENTURY GROUP, INC. CIK: 1347858 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001144204-12-029737`
Period End Date	20120331
Filing Date	20120515
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	xxii-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 33 Cash Flow Statement 68 Stockholders Equity 8

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Authorized, preferred shares	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Authorized, preferred shares	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred shares, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred shares, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Authorized, common shares	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Cash	`Cash`	$252.25K	USD	Point-in-time
Cash	`Cash`	$177.00	USD	Point-in-time
Cash	`Cash`	$872.40K	USD	Point-in-time
Cash	`Cash`	$310.00	USD	Point-in-time
Authorized, common shares	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Due from related party	`DueFromRelatedPartiesCurrent`	$19.49K	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Due from related party	`DueFromRelatedPartiesCurrent`	$15.49K	USD	Point-in-time
Issued, preferred shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Due from officers	`DueFromOfficersOrStockholdersCurrent`	$7.71K	USD	Point-in-time
Issued, preferred shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Due from officers	`DueFromOfficersOrStockholdersCurrent`	$4.06K	USD	Point-in-time
Inventory	`InventoryNet`	$678.15K	USD	Point-in-time
Outstanding, preferred shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Outstanding, preferred shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	$678.12K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$203.96K	USD	Point-in-time
Issued, common shares	`CommonStockSharesIssued`	27.21M	shares	Point-in-time
Issued, common shares	`CommonStockSharesIssued`	28.35M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$17.68K	USD	Point-in-time
Outstanding, common shares	`CommonStockSharesOutstanding`	27.21M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$971.25K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$905.84K	USD	Point-in-time
Outstanding, common shares	`CommonStockSharesOutstanding`	28.35M	shares	Point-in-time
Patent and trademark costs, net	`IntangibleAssetsNetExcludingGoodwill`	$1.36M	USD	Point-in-time
Patent and trademark costs, net	`IntangibleAssetsNetExcludingGoodwill`	$1.39M	USD	Point-in-time
Office furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$7.40K	USD	Point-in-time
Office furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$7.86K	USD	Point-in-time
Deferred debt issuance costs, net	`DeferredFinanceCostsCurrentNet`	$22.41K	USD	Point-in-time
Deferred debt issuance costs, net	`DeferredFinanceCostsCurrentNet`	$20.25K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$1.42M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$1.39M	USD	Point-in-time
Total assets	`Assets`	$2.29M	USD	Point-in-time
Total assets	`Assets`	$2.39M	USD	Point-in-time
Demand bank loans	`ShortTermBankLoansAndNotesPayable`	$174.93K	USD	Point-in-time
Demand bank loans	`ShortTermBankLoansAndNotesPayable`	$174.93K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.06M	USD	Point-in-time
Accrued interest payable to shareholders	`InterestPayableRelatedPartiesCurrent`	$21.50K	USD	Point-in-time
Accrued interest payable to shareholders	`InterestPayableRelatedPartiesCurrent`	$40.43K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$309.87K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$545.58K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$487.00K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$425.00K	USD	Point-in-time
Convertible Notes, net of unamortized discount	`ConvertibleNotesPayableCurrent`	$949.34K	USD	Point-in-time
Convertible Notes, net of unamortized discount	`ConvertibleNotesPayableCurrent`	$641.89K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.87M	USD	Point-in-time
Long term portion of notes payable	`LongTermNotesPayable`	$140.00K	USD	Point-in-time
Long term portion of notes payable	`LongTermNotesPayable`	$177.00K	USD	Point-in-time
Warrant liability	`DerivativeLiabilitiesNoncurrent`	$550.00K	USD	Point-in-time
Warrant liability	`DerivativeLiabilitiesNoncurrent`	$1.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.60M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
0 preferred shares	`PreferredStockValue`	-	USD	Point-in-time
0 preferred shares	`PreferredStockValue`	-	USD	Point-in-time
28,349,646 common shares (27,209,646 at December 31, 2011)	`CommonStockValue`	$284.00	USD	Point-in-time
28,349,646 common shares (27,209,646 at December 31, 2011)	`CommonStockValue`	$273.00	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$6.26M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$5.82M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.04M	USD	Point-in-time
Non-controlling interest - consolidated subsidiary	`MinorityInterest`	$5.98K	USD	Point-in-time
Non-controlling interest - consolidated subsidiary	`MinorityInterest`	$4.53K	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.21M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.90M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.39M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.29M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$117.46K	USD	1 Quarter
Other income - therapeutic grant	`RevenueFromGrants`	$49.22K	USD	1 Quarter
Total revenue	`Revenues`	$166.67K	USD	1 Quarter
Costs of goods sold	`CostOfGoodsSold`	$47.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$216.29K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$87.73K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$309.79K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$325.94K	USD	1 Quarter
Sales and marketing costs	`SellingAndMarketingExpense`	$3.83K	USD	1 Quarter
Sales and marketing costs	`SellingAndMarketingExpense`	$171.53K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$43.58K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$45.96K	USD	1 Quarter
Costs and Expenses, Total	`CostsAndExpenses`	$804.33K	USD	1 Quarter
Costs and Expenses, Total	`CostsAndExpenses`	$447.32K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-637.66K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-447.32K	USD	1 Quarter
Loss warrant liability - derivative	`DerivativeLossOnDerivative`	$1.24M	USD	1 Quarter
Related parties	`InterestExpenseRelatedParty`	$12.14K	USD	1 Quarter
Related parties	`InterestExpenseRelatedParty`	$138.28K	USD	1 Quarter
Other	`InterestExpenseOther`	$1.86K	USD	1 Quarter
Other	`InterestExpenseOther`	$295.62K	USD	1 Quarter
Nonoperating Income (Expense), Total	`NonoperatingIncomeExpense`	$-1.68M	USD	1 Quarter
Nonoperating Income (Expense), Total	`NonoperatingIncomeExpense`	$-14.01K	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.12M	USD	1 Quarter
Net loss	`ProfitLoss`	$-651.67K	USD	1 Quarter
Net loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-2.37K	USD	1 Quarter
Net loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-1.46K	USD	1 Quarter
Net loss attributed to common shareholders	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Net loss attributed to common shareholders	`NetIncomeLoss`	$-649.30K	USD	1 Quarter
Loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Common shares used in basic earnings per share calculation	`WeightedAverageNumberOfSharesOutstandingBasic`	28.02M	shares	1 Quarter
Common shares used in basic earnings per share calculation	`WeightedAverageNumberOfSharesOutstandingBasic`	23.89M	shares	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-2.12M	USD	1 Quarter
Net loss	`ProfitLoss`	$-651.67K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$43.58K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$45.96K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$2.16K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$1.33K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$393.71K	USD	1 Quarter
Interest due to debt conversion	`DebtInstrumentConvertibleInterestExpense`	$20.75K	USD	1 Quarter
Loss warrant liability - derivative	`DerivativeLossOnDerivative`	$1.24M	USD	1 Quarter
Equity based employee compensation expense	`ShareBasedCompensation`	$48.98K	USD	1 Quarter
Equity based payments for outside services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$10.75K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$112.06K	USD	1 Quarter
Grant receivable	`IncreaseDecreaseInOtherReceivables`	$-223.54K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$30.00	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$459.72K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$51.43K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-17.23K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$350.93K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-516.70K	USD	1 Quarter
Accrued interest payable to shareholders	`IncreaseDecreaseInDueToOfficersAndStockholders`	$-177.80K	USD	1 Quarter
Accrued interest payable to shareholders	`IncreaseDecreaseInDueToOfficersAndStockholders`	$18.93K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$28.16K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-235.71K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-49.22K	USD	1 Quarter
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.65M	USD	1 Quarter
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-276.23K	USD	1 Quarter
Acquisition of patents and trademarks	`PaymentsToAcquireIntangibleAssets`	$518.41K	USD	1 Quarter
Acquisition of patents and trademarks	`PaymentsToAcquireIntangibleAssets`	$500.00	USD	1 Quarter
Acquisition of office furniture and fixtures	`PaymentsToAcquireFurnitureAndFixtures`	$4.79K	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-500.00	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-523.20K	USD	1 Quarter
Proceeds from issuance of notes	`ProceedsFromNotesPayable`	$25.00K	USD	1 Quarter
Payments on borrowings - notes payable	`RepaymentsOfNotesPayable`	$393.27K	USD	1 Quarter
Net proceeds from January 25, 2011 private placement	`ProceedsFromIssuanceOrSaleOfEquity`	$3.46M	USD	1 Quarter
Net payments to related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-4.00K	USD	1 Quarter
Net payments to related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-21.27K	USD	1 Quarter
Net advances from officers	`ProceedsFromPaymentsForOtherFinancingActivities`	$3.66K	USD	1 Quarter
Net advances from officers	`ProceedsFromPaymentsForOtherFinancingActivities`	$1.44K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.05M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.66K	USD	1 Quarter
Net (decrease) increase in cash	`CashPeriodIncreaseDecrease`	$872.09K	USD	1 Quarter
Net (decrease) increase in cash	`CashPeriodIncreaseDecrease`	$-252.07K	USD	1 Quarter
Cash - beginning of period	`Cash`	$252.25K	USD	Point-in-time
Cash - beginning of period	`Cash`	$177.00	USD	Point-in-time
Cash - beginning of period	`Cash`	$872.40K	USD	Point-in-time
Cash - beginning of period	`Cash`	$310.00	USD	Point-in-time
Cash - end of period	`Cash`	$252.25K	USD	Point-in-time
Cash - end of period	`Cash`	$177.00	USD	Point-in-time
Cash - end of period	`Cash`	$872.40K	USD	Point-in-time
Cash - end of period	`Cash`	$310.00	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	$189.74K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaidNet`	$196.54K	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
Common stock issued as payment of accounts payable	`StockIssued1`	$209.75K	USD	1 Quarter
Payment of accounts payable for patent costs	`PaymentOfAccountsPayableForPatentCosts`	$500.00K	USD	1 Quarter
Payment of accounts payable for deferred private placement costs	`PaymentOfAccountsPayableForDeferredPrivatePlacementCosts`	$526.13K	USD	1 Quarter
Accounts payable converted to promissory notes	`ConversionOfAccountsPayableToNotePayable`	$587.00K	USD	1 Quarter
Supplemental Accounts Payable, Total	`SupplementalAccountsPayable`	$1.61M	USD	1 Quarter
Supplemental Accounts Payable, Total	`SupplementalAccountsPayable`	$209.75K	USD	1 Quarter
Common stock issued for prepaid services	`CommonStockIssuanceForPrepaidService`	$171.25K	USD	Point-in-time
Deferred private placement costs charged to contributed capital	`DeferredPrivatePlacementCostsChargedToContributedCapital`	$587.13K	USD	1 Quarter
Note payable converted to common shares	`ConversionOfNotesPayableIntoCommonStock`	$86.25K	USD	1 Quarter
Conversion of shareholder note and accrued interest to common shares and warrants	`ConversionOfConvertibleNotesToCommonStock`	$614.07K	USD	1 Quarter
Issuance of warrants as derivative liability instruments upon conversion of note payable	`IssuanceOfDerivativeLiabilityInstrumentsAndReductionOfAdditionalPaidInCapital`	$3.06M	USD	1 Quarter
Issuance of warrants as derivative liability instruments upon conversion of note payable	`IssuanceOfDerivativeLiabilityInstrumentsAndReductionOfAdditionalPaidInCapital`	$107.00K	USD	1 Quarter
Patent and trademark additions included in accounts payable	`PatentAndTrademarkAdditionsIncludedInAccountsPayable`	$19.39K	USD	1 Quarter
Deferred debt issuance costs included in accounts payable	`DeferredPrivatePlacementCostAdditionsIncludedInAccountsPayable`	$5.00K	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.21M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.90M	USD	Point-in-time
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$48.98K	USD	1 Quarter
Common stock issued as payment of services and accounts payable	`StockIssuedDuringPeriodOfStockAndWarrantsForServicesOrClaims`	$391.75K	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.12M	USD	1 Quarter
Net loss	`ProfitLoss`	$-651.67K	USD	1 Quarter
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.21M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.90M	USD	Point-in-time

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