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10-Q Filing

22ND CENTURY GROUP, INC. CIK: 1347858 Q1 2014
Filing Information
Form Type 10-Q
Accession Number 0001144204-14-027030
Period End Date 20140331
Filing Date 20140502
Fiscal Year 2014
Fiscal Period Q1
XBRL Instance xxii-20140331.xml
Filing Contents
Balance Sheet 67 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 Cash $188.00 USD Point-in-time
Cash Cash $278.88K USD Point-in-time
Cash Cash $5.83M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 300.00M shares Point-in-time
Cash Cash $5.37M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 300.00M shares Point-in-time
Due from related party DueFromRelatedPartiesCurrent $42.07K USD Point-in-time
Due from related party DueFromRelatedPartiesCurrent $42.07K USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare - USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare - USD Point-in-time
Due from officers DueFromOfficersOrStockholdersCurrent - USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 56.90M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 58.26M shares Point-in-time
Due from officers DueFromOfficersOrStockholdersCurrent $7.47K USD Point-in-time
Inventory InventoryNet $1.65M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 58.26M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 56.90M shares Point-in-time
Inventory InventoryNet $1.41M USD Point-in-time
Machinery and equipment held for resale AssetsHeldForSaleCurrent - USD Point-in-time
Machinery and equipment held for resale AssetsHeldForSaleCurrent $457.70K USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseCurrent $241.35K USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseCurrent - USD Point-in-time
Total current assets AssetsCurrent $7.31M USD Point-in-time
Total current assets AssetsCurrent $7.74M USD Point-in-time
Machinery and equipment, net PropertyPlantAndEquipmentNet $2.93M USD Point-in-time
Machinery and equipment, net PropertyPlantAndEquipmentNet $3.00M USD Point-in-time
Patent and trademark costs, net IntangibleAssetsNetExcludingGoodwill $1.54M USD Point-in-time
Patent and trademark costs, net IntangibleAssetsNetExcludingGoodwill $1.59M USD Point-in-time
Advance AdvancesToAffiliate $92.89K USD Point-in-time
Advance AdvancesToAffiliate - USD Point-in-time
Total other assets AssetsNoncurrent $1.69M USD Point-in-time
Total other assets AssetsNoncurrent $1.54M USD Point-in-time
Total assets Assets $12.29M USD Point-in-time
Total assets Assets $11.93M USD Point-in-time
Demand bank loan ShortTermBankLoansAndNotesPayable $174.93K USD Point-in-time
Demand bank loan ShortTermBankLoansAndNotesPayable $174.93K USD Point-in-time
Accounts payable AccountsPayableCurrent $272.82K USD Point-in-time
Accounts payable AccountsPayableCurrent $54.66K USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $700.07K USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $575.73K USD Point-in-time
Deferred revenue DeferredRevenueCurrent $179.01K USD Point-in-time
Deferred revenue DeferredRevenueCurrent - USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.15M USD Point-in-time
Total current liabilities LiabilitiesCurrent $984.33K USD Point-in-time
Warrant liability DerivativeLiabilitiesNoncurrent $623.42K USD Point-in-time
Warrant liability DerivativeLiabilitiesNoncurrent $4.17M USD Point-in-time
Warrant liability DerivativeLiabilitiesNoncurrent $3.78M USD Point-in-time
Total liabilities Liabilities $1.77M USD Point-in-time
Total liabilities Liabilities $4.76M USD Point-in-time
Commitments and contingencies (Note 10) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 10) CommitmentsAndContingencies - USD Point-in-time
Preferred shares value PreferredStockValue - USD Point-in-time
Preferred shares value PreferredStockValue - USD Point-in-time
Common shares value CommonStockValue $583.00 USD Point-in-time
Common shares value CommonStockValue $569.00 USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $47.45M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $55.40M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-39.93M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-45.24M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.52M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $10.16M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $11.93M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $12.29M USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Sale of products SalesRevenueGoodsGross - USD 1 Quarter
Sale of products SalesRevenueGoodsGross $447.54K USD 1 Quarter
Products CostOfGoodsSold $177.70K USD 1 Quarter
Products CostOfGoodsSold - USD 1 Quarter
Gross profit GrossProfit - USD 1 Quarter
Gross profit GrossProfit $269.84K USD 1 Quarter
Research and development (including stock based compensation of $60,267 and $111,563, respectively) ResearchAndDevelopmentExpense $222.38K USD 1 Quarter
Research and development (including stock based compensation of $60,267 and $111,563, respectively) ResearchAndDevelopmentExpense $190.75K USD 1 Quarter
General and administrative (including stock based compensation of $296,417 and $852,115, respectively) GeneralAndAdministrativeExpense $1.15M USD 1 Quarter
General and administrative (including stock based compensation of $296,417 and $852,115, respectively) GeneralAndAdministrativeExpense $1.01M USD 1 Quarter
Manufacturing facility startup costs OtherCostAndExpenseOperating - USD 1 Quarter
Manufacturing facility startup costs OtherCostAndExpenseOperating $158.19K USD 1 Quarter
Amortization and depreciation DepreciationAndAmortization $71.27K USD 1 Quarter
Amortization and depreciation DepreciationAndAmortization $52.62K USD 1 Quarter
Total operating expenses CostsAndExpenses $1.46M USD 1 Quarter
Total operating expenses CostsAndExpenses $1.39M USD 1 Quarter
Operating loss OperatingIncomeLoss $-1.39M USD 1 Quarter
Operating loss OperatingIncomeLoss $-1.19M USD 1 Quarter
Warrant liability loss - net DerivativeGainLossOnDerivativeNet $-4.07M USD 1 Quarter
Warrant liability loss - net DerivativeGainLossOnDerivativeNet $-1.02M USD 1 Quarter
Warrant amendment inducement expense WarrantExchangeInducementExpense - USD 1 Quarter
Warrant amendment inducement expense WarrantExchangeInducementExpense $144.55K USD 1 Quarter
Gain on the sale of machinery and equipment GainLossOnDispositionOfAssets1 $85.62K USD 1 Quarter
Gain on the sale of machinery and equipment GainLossOnDispositionOfAssets1 - USD 1 Quarter
Related parties InterestExpenseRelatedParty - USD 1 Quarter
Related parties InterestExpenseRelatedParty $6.55K USD 1 Quarter
Other InterestExpenseOther $1.75K USD 1 Quarter
Other InterestExpenseOther $98.98K USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-4.13M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-1.12M USD 1 Quarter
Net loss ProfitLoss $-5.32M USD 1 Quarter
Net loss ProfitLoss $-2.51M USD 1 Quarter
Loss per common share - basic and diluted (in dollars per share) EarningsPerShareBasicAndDiluted $-0.07 USD 1 Quarter
Loss per common share - basic and diluted (in dollars per share) EarningsPerShareBasicAndDiluted $-0.09 USD 1 Quarter
Common shares used in basic earnings per share calculation (in shares) WeightedAverageNumberOfSharesOutstandingBasic 36.31M shares 1 Quarter
Common shares used in basic earnings per share calculation (in shares) WeightedAverageNumberOfSharesOutstandingBasic 57.65M shares 1 Quarter
Cash Flow Statement 100 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-5.32M USD 1 Quarter
Net loss ProfitLoss $-2.51M USD 1 Quarter
Amortization and depreciation DepreciationAndAmortization $71.27K USD 1 Quarter
Amortization and depreciation DepreciationAndAmortization $52.62K USD 1 Quarter
Amortization of debt issuance costs AmortizationOfFinancingCosts $4.23K USD 1 Quarter
Amortization of debt issuance costs AmortizationOfFinancingCosts - USD 1 Quarter
Amortization of debt discount AmortizationOfDebtDiscountPremium $54.73K USD 1 Quarter
Amortization of debt discount AmortizationOfDebtDiscountPremium - USD 1 Quarter
Gain on the sale of machinery and equipment GainLossOnDispositionOfAssets1 $85.62K USD 1 Quarter
Gain on the sale of machinery and equipment GainLossOnDispositionOfAssets1 - USD 1 Quarter
Interest due to debt conversion NonCashInterestOnConvertibleDebt $17.39K USD 1 Quarter
Interest due to debt conversion NonCashInterestOnConvertibleDebt - USD 1 Quarter
Warrant liability loss DerivativeGainsLossesNet $-1.02M USD 1 Quarter
Warrant liability loss DerivativeGainsLossesNet $-4.07M USD 1 Quarter
Warrant amendment inducement expense WarrantExchangeInducementExpense - USD 1 Quarter
Warrant amendment inducement expense WarrantExchangeInducementExpense $144.55K USD 1 Quarter
Equity based employee compensation expense ShareBasedCompensation $873.63K USD 1 Quarter
Equity based employee compensation expense ShareBasedCompensation $356.68K USD 1 Quarter
Equity based payments for outside services IssuanceOfStockAndWarrantsForServicesOrClaims $90.05K USD 1 Quarter
Equity based payments for outside services IssuanceOfStockAndWarrantsForServicesOrClaims - USD 1 Quarter
Inventory IncreaseDecreaseInInventories $207.62K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $487.00 USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidExpense $241.35K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidExpense $39.22K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $117.97K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-460.29K USD 1 Quarter
Accrued interest payable to related parties IncreaseDecreaseInDueToRelatedParties - USD 1 Quarter
Accrued interest payable to related parties IncreaseDecreaseInDueToRelatedParties $563.00 USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-233.31K USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $149.54K USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $-179.01K USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue - USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-1.12M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-1.14M USD 1 Quarter
Acquisition of patents and trademarks PaymentsToAcquireIntangibleAssets $14.62K USD 1 Quarter
Acquisition of patents and trademarks PaymentsToAcquireIntangibleAssets $37.33K USD 1 Quarter
Acquisition machinery and equipment PaymentsToAcquireMachineryAndEquipment $46.17K USD 1 Quarter
Acquisition machinery and equipment PaymentsToAcquireMachineryAndEquipment $13.98K USD 1 Quarter
Proceeds from the sale of machinery and equipment ProceedsFromSaleOfMachineryAndEquipment $631.48K USD 1 Quarter
Proceeds from the sale of machinery and equipment ProceedsFromSaleOfMachineryAndEquipment - USD 1 Quarter
Advance PaymentsToAcquireInvestments - USD 1 Quarter
Advance PaymentsToAcquireInvestments $92.89K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $455.08K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-28.61K USD 1 Quarter
Net proceeds from exercise of warrants ProceedsFromWarrantExercises - USD 1 Quarter
Net proceeds from exercise of warrants ProceedsFromWarrantExercises $167.20K USD 1 Quarter
Net proceeds from exercise of options ProceedsFromStockOptionsExercised $34.50K USD 1 Quarter
Net proceeds from exercise of options ProceedsFromStockOptionsExercised - USD 1 Quarter
Proceeds from issuance of notes ProceedsFromNotesPayable $150.00K USD 1 Quarter
Proceeds from issuance of notes ProceedsFromNotesPayable - USD 1 Quarter
Payments on borrowings - notes payable RepaymentsOfNotesPayable $395.29K USD 1 Quarter
Payments on borrowings - notes payable RepaymentsOfNotesPayable - USD 1 Quarter
Payments on borrowings - convertible notes RepaymentsOfConvertibleDebt $339.25K USD 1 Quarter
Payments on borrowings - convertible notes RepaymentsOfConvertibleDebt - USD 1 Quarter
Net proceeds from January 2013 preferred stock private placement ProceedsFromIssuanceOfPrivatePlacement - USD 1 Quarter
Net proceeds from January 2013 preferred stock private placement ProceedsFromIssuanceOfPrivatePlacement $2.03M USD 1 Quarter
Net payments to related party RepaymentsOfRelatedPartyDebt $1.50K USD 1 Quarter
Net payments to related party RepaymentsOfRelatedPartyDebt - USD 1 Quarter
Net advances (to) from officers ProceedsFromPaymentsForOtherFinancingActivities $7.47K USD 1 Quarter
Net advances (to) from officers ProceedsFromPaymentsForOtherFinancingActivities $-4.21K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $209.17K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.44M USD 1 Quarter
Net (decrease) increase in cash CashAndCashEquivalentsPeriodIncreaseDecrease $-457.19K USD 1 Quarter
Net (decrease) increase in cash CashAndCashEquivalentsPeriodIncreaseDecrease $278.70K USD 1 Quarter
Cash - beginning of period Cash $188.00 USD Point-in-time
Cash - beginning of period Cash $278.88K USD Point-in-time
Cash - beginning of period Cash $5.83M USD Point-in-time
Cash - beginning of period Cash $5.37M USD Point-in-time
Cash - end of period Cash $188.00 USD Point-in-time
Cash - end of period Cash $278.88K USD Point-in-time
Cash - end of period Cash $5.83M USD Point-in-time
Cash - end of period Cash $5.37M USD Point-in-time
Cash paid during the period for interest InterestPaidNet $1.75K USD 1 Quarter
Cash paid during the period for interest InterestPaidNet $30.55K 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
Reclassification of derivative liability to equity due to warrant amendments ReclassificationOfDerivativeLiabilityToEquityDueToWarrantAmendments $7.37M USD 1 Quarter
Reclassification of derivative liability to equity due to warrant amendments ReclassificationOfDerivativeLiabilityToEquityDueToWarrantAmendments - USD 1 Quarter
Patent and trademark additions included in accounts payable PatentAndTrademarkAdditionsIncludedInAccountsPayable $83.12K USD 1 Quarter
Patent and trademark additions included in accounts payable PatentAndTrademarkAdditionsIncludedInAccountsPayable $22.63K USD 1 Quarter
Machinery and equipment included in accounts payable MachineryAndEquipmentIncludedInAccountsPayable $8.71K USD 1 Quarter
Machinery and equipment included in accounts payable MachineryAndEquipmentIncludedInAccountsPayable $17.06K USD 1 Quarter
Reclassification of machinery and equipment purchases to inventory ReclassificationOfMachineryAndEquipmentPurchasesToInventory $37.86K USD 1 Quarter
Reclassification of machinery and equipment purchases to inventory ReclassificationOfMachineryAndEquipmentPurchasesToInventory - USD 1 Quarter
Other capital contribution OtherContributedCapital - USD 1 Quarter
Other capital contribution OtherContributedCapital $25.20K USD 1 Quarter
Accounts payable converted to promissory notes ConversionOfAccountsPayableToNotePayable - USD 1 Quarter
Accounts payable converted to promissory notes ConversionOfAccountsPayableToNotePayable $769.38K USD 1 Quarter
Accrued interest converted to promissory notes ConversionOfAccruedInterestToNotePayable $26.42K USD 1 Quarter
Accrued interest converted to promissory notes ConversionOfAccruedInterestToNotePayable - USD 1 Quarter
Notes payable and accrued interest converted to common shares ConversionOfNotesPayableAndAccruedInterestToCommonStock - USD 1 Quarter
Notes payable and accrued interest converted to common shares ConversionOfNotesPayableAndAccruedInterestToCommonStock $1.43M USD 1 Quarter
Preferred stock dividend payable DividendPayableOnPreferredStock - USD 1 Quarter
Preferred stock dividend payable DividendPayableOnPreferredStock $52.08K USD 1 Quarter
Common stock issued for fees relating to January 2013 preferred stock private placement IssuanceOfCommonStockValueInPaymentOfFinancingCost - USD 1 Quarter
Common stock issued for fees relating to January 2013 preferred stock private placement IssuanceOfCommonStockValueInPaymentOfFinancingCost $416.67K USD 1 Quarter
Refinance of convertible note to note payable RefinanceOfNotePayableToAccountsPayable $57.50K USD 1 Quarter
Refinance of convertible note to note payable RefinanceOfNotePayableToAccountsPayable - USD 1 Quarter
Issuance of warrants as derivative liability instruments and reduction of capital IssuanceOfWarrantsAsDerivativeLiabilityInstrument - USD 1 Quarter
Issuance of warrants as derivative liability instruments and reduction of capital IssuanceOfWarrantsAsDerivativeLiabilityInstrument $2.03M USD 1 Quarter
Stockholders Equity 14 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.52M USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $10.16M USD Point-in-time
Stock based compensation StockIssuedDuringPeriodValueShareBasedCompensation $356.68K USD 1 Quarter
Exercise of warrants StockIssuedDuringPeriodWarrantsExcercisedValue $167.20K USD 1 Quarter
Exercise of options StockIssuedDuringPeriodValueStockOptionsExercised $34.50K USD 1 Quarter
Exercise of options, shares StockIssuedDuringPeriodSharesStockOptionsExercised 20,000.00 shares Annual
Exercise of options, shares StockIssuedDuringPeriodSharesStockOptionsExercised 50,000.00 shares 1 Quarter
Other capital contribution OtherContributedCapital - USD 1 Quarter
Other capital contribution OtherContributedCapital $25.20K USD 1 Quarter
Warrant amendments AdjustmentsToAdditionalPaidInCapitalWarrantIssued $7.37M USD 1 Quarter
Net loss ProfitLoss $-5.32M USD 1 Quarter
Net loss ProfitLoss $-2.51M USD 1 Quarter
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.52M USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $10.16M USD Point-in-time

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

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