10-Q Filing

22ND CENTURY GROUP, INC. CIK: 1347858 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001144204-15-029447`
Period End Date	20150331
Filing Date	20150511
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	xxii-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 39 Cash Flow Statement 85 Stockholders Equity 9

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$5.83M	USD	Point-in-time
Cash	`Cash`	$3.84M	USD	Point-in-time
Cash	`Cash`	$5.37M	USD	Point-in-time
Cash	`Cash`	$6.40M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$209.03K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Due from related party	`DueFromRelatedPartiesCurrent`	$46.07K	USD	Point-in-time
Due from related party	`DueFromRelatedPartiesCurrent`	$46.07K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Inventory, net	`InventoryNet`	$2.06M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Inventory, net	`InventoryNet`	$2.56M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid consulting fees	`OtherPrepaidExpenseCurrent`	$1.98M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	64.09M	shares	Point-in-time
Prepaid consulting fees	`OtherPrepaidExpenseCurrent`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	64.62M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$214.47K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$457.85K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	64.62M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	64.09M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$10.71M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.12M	USD	Point-in-time
Machinery and equipment, net	`PropertyPlantAndEquipmentNet`	$2.85M	USD	Point-in-time
Machinery and equipment, net	`PropertyPlantAndEquipmentNet`	$2.79M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$7.08M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$7.17M	USD	Point-in-time
Equity investment	`AdvancesToAffiliate`	$1.27M	USD	Point-in-time
Equity investment	`AdvancesToAffiliate`	$1.32M	USD	Point-in-time
Total other assets	`AssestsNoncurrentExcludingPropertyPlantAndEquipmentNet`	$8.43M	USD	Point-in-time
Total other assets	`AssestsNoncurrentExcludingPropertyPlantAndEquipmentNet`	$8.40M	USD	Point-in-time
Total assets	`Assets`	$18.35M	USD	Point-in-time
Total assets	`Assets`	$21.95M	USD	Point-in-time
Demand bank loan	`ShortTermBankLoansAndNotesPayable`	$174.93K	USD	Point-in-time
Demand bank loan	`ShortTermBankLoansAndNotesPayable`	$174.93K	USD	Point-in-time
Current portion of note payable	`NotesPayableCurrent`	$320.51K	USD	Point-in-time
Current portion of note payable	`NotesPayableCurrent`	$320.51K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$884.41K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.08M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$307.68K	USD	Point-in-time
Accrued severance	`AccruedSeveranceLiabilitiesCurrent`	$229.48K	USD	Point-in-time
Accrued severance	`AccruedSeveranceLiabilitiesCurrent`	$212.01K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.67M	USD	Point-in-time
Long-term portion of note payable	`LongTermNotesPayable`	$605.22K	USD	Point-in-time
Long-term portion of note payable	`LongTermNotesPayable`	$605.22K	USD	Point-in-time
Long-term portion of accrued severance	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$363.99K	USD	Point-in-time
Long-term portion of accrued severance	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$412.31K	USD	Point-in-time
Warrant liability	`DerivativeLiabilitiesNoncurrent`	$2.98M	USD	Point-in-time
Warrant liability	`DerivativeLiabilitiesNoncurrent`	$4.17M	USD	Point-in-time
Warrant liability	`DerivativeLiabilitiesNoncurrent`	$711.67K	USD	Point-in-time
Warrant liability	`DerivativeLiabilitiesNoncurrent`	$3.78M	USD	Point-in-time
Warrant liability	`DerivativeLiabilitiesNoncurrent`	$3.04M	USD	Point-in-time
Warrant liability	`DerivativeLiabilitiesNoncurrent`	$6.02M	USD	Point-in-time
Warrant liability	`DerivativeLiabilitiesNoncurrent`	$1.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.73M	USD	Point-in-time
Commitments and contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 15)	`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`	$641.00	USD	Point-in-time
Common shares value	`CommonStockValue`	$646.00	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$71.59M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$70.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-55.53M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-59.64M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$11.95M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.22M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$18.35M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$21.95M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Sale of products	`SalesRevenueGoodsGross`	$616.14K	USD	1 Quarter
Sale of products	`SalesRevenueGoodsGross`	$447.54K	USD	1 Quarter
Products	`CostOfGoodsSold`	$632.58K	USD	1 Quarter
Products	`CostOfGoodsSold`	$177.70K	USD	1 Quarter
Gross (loss) profit	`GrossProfit`	$269.84K	USD	1 Quarter
Gross (loss) profit	`GrossProfit`	$-16.44K	USD	1 Quarter
Research and development (including stock based compensation of $45,563 and $60,267, respectively)	`ResearchAndDevelopmentExpense`	$222.38K	USD	1 Quarter
Research and development (including stock based compensation of $45,563 and $60,267, respectively)	`ResearchAndDevelopmentExpense`	$182.97K	USD	1 Quarter
General and administrative (including stock based compensation of $2,390,821 and $296,417, respectively)	`GeneralAndAdministrativeExpense`	$1.01M	USD	1 Quarter
General and administrative (including stock based compensation of $2,390,821 and $296,417, respectively)	`GeneralAndAdministrativeExpense`	$3.64M	USD	1 Quarter
Pre-manufacturing facility costs	`OtherCostAndExpenseOperating`	$158.19K	USD	1 Quarter
Pre-manufacturing facility costs	`OtherCostAndExpenseOperating`	-	USD	1 Quarter
Sales and marketing costs (including stock based compensation of $4,821 and $0, respectively)	`SellingAndMarketingExpense`	-	USD	1 Quarter
Sales and marketing costs (including stock based compensation of $4,821 and $0, respectively)	`SellingAndMarketingExpense`	$115.23K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$160.89K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$71.27K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.46M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$4.10M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.19M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.12M	USD	1 Quarter
Warrant liability gain (loss) - net	`GainLossFromWarrantLiability`	$-4.07M	USD	1 Quarter
Warrant liability gain (loss) - net	`GainLossFromWarrantLiability`	$59.21K	USD	1 Quarter
Warrant amendment inducement expense	`WarrantExchangeInducementExpense`	$144.55K	USD	1 Quarter
Warrant amendment inducement expense	`WarrantExchangeInducementExpense`	$144.55K	USD	Annual
Warrant amendment inducement expense	`WarrantExchangeInducementExpense`	-	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
Loss on equity investment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	$-50.98K	USD	1 Quarter
Loss on equity investment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$1.75K	USD	1 Quarter
Interest expense	`InterestExpense`	$5.51K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$2.72K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-4.13M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.12M	USD	1 Quarter
Loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	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`	57.65M	shares	1 Quarter
Common shares used in basic earnings per share calculation (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	64.19M	shares	1 Quarter

Cash Flow Statement 85 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-5.32M	USD	1 Quarter
Net loss	`ProfitLoss`	$-4.12M	USD	1 Quarter
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$160.89K	USD	1 Quarter
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$71.27K	USD	1 Quarter
Amortization of license fees	`OtherAmortizationOfDeferredCharges`	$24.51K	USD	1 Quarter
Amortization of license fees	`OtherAmortizationOfDeferredCharges`	-	USD	1 Quarter
Loss on equity investment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	$-50.98K	USD	1 Quarter
Loss on equity investment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	-	USD	1 Quarter
Gain on the sale of machinery and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$85.62K	USD	1 Quarter
Gain on the sale of machinery and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Warrant liability (gain) loss	`GainLossFromWarrantLiability`	$-4.07M	USD	1 Quarter
Warrant liability (gain) loss	`GainLossFromWarrantLiability`	$59.21K	USD	1 Quarter
Warrant amendment inducement expense	`WarrantExchangeInducementExpense`	$144.55K	USD	1 Quarter
Warrant amendment inducement expense	`WarrantExchangeInducementExpense`	$144.55K	USD	Annual
Warrant amendment inducement expense	`WarrantExchangeInducementExpense`	-	USD	1 Quarter
Equity based employee compensation expense	`ShareBasedCompensation`	$354.09K	USD	1 Quarter
Equity based employee compensation expense	`ShareBasedCompensation`	$356.68K	USD	1 Quarter
Equity based payments for outside services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$2.09M	USD	1 Quarter
Equity based payments for outside services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Increase in inventory reserve	`InventoryReserveAdjustments`	$-60.00K	USD	1 Quarter
Increase in inventory reserve	`InventoryReserveAdjustments`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$209.03K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$207.62K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$558.54K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$241.35K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$151.71K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$117.97K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$316.75K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-448.87K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$149.54K	USD	1 Quarter
Accrued severance	`IncreaseDecreaseInAccruedSeverance`	-	USD	1 Quarter
Accrued severance	`IncreaseDecreaseInAccruedSeverance`	$-30.86K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-179.01K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.52M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.12M	USD	1 Quarter
Acquisition of patents and trademarks	`PaymentsToAcquireIntangibleAssets`	$37.33K	USD	1 Quarter
Acquisition of patents and trademarks	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Acquisition machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$46.17K	USD	1 Quarter
Acquisition machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$3.72K	USD	1 Quarter
Proceeds from the sale of machinery and equipment	`ProceedsFromSaleOfMachineryAndEquipment`	-	USD	1 Quarter
Proceeds from the sale of machinery and equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$631.48K	USD	1 Quarter
Advance	`RepaymentOfAdvances`	-	USD	1 Quarter
Advance	`RepaymentOfAdvances`	$92.89K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-3.72K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$455.08K	USD	1 Quarter
Net proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$167.20K	USD	1 Quarter
Net proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Net proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Net proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$34.50K	USD	1 Quarter
Stock cancellation	`PaymentsForRepurchaseOfOtherEquity`	$34.50K	USD	1 Quarter
Stock cancellation	`PaymentsForRepurchaseOfOtherEquity`	-	USD	1 Quarter
Net advances from officers	`ProceedsFromPaymentsForOtherFinancingActivities`	$7.47K	USD	1 Quarter
Net advances from officers	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-34.50K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$209.17K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-457.19K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.56M	USD	1 Quarter
Cash - beginning of period	`Cash`	$5.83M	USD	Point-in-time
Cash - beginning of period	`Cash`	$3.84M	USD	Point-in-time
Cash - beginning of period	`Cash`	$5.37M	USD	Point-in-time
Cash - beginning of period	`Cash`	$6.40M	USD	Point-in-time
Cash - end of period	`Cash`	$5.83M	USD	Point-in-time
Cash - end of period	`Cash`	$3.84M	USD	Point-in-time
Cash - end of period	`Cash`	$5.37M	USD	Point-in-time
Cash - end of period	`Cash`	$6.40M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	$5.51K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaidNet`	$1.75K	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`	$194.33K	USD	1 Quarter
Machinery and equipment additions included in accounts payable	`NoncashOrPartNoncashAcquisitionPayablesAssumed1`	$17.06K	USD	1 Quarter
Machinery and equipment additions included in accounts payable	`NoncashOrPartNoncashAcquisitionPayablesAssumed1`	$18.08K	USD	1 Quarter
Issuance of common stock in satisfaction of accrued expense	`StockRepurchasedDuringPeriodValue`	-	USD	1 Quarter
Issuance of common stock in satisfaction of accrued expense	`StockRepurchasedDuringPeriodValue`	$325.00K	USD	1 Quarter
Issuance of common stock for services recorded as prepaid expense	`StockIssued1`	-	USD	1 Quarter
Issuance of common stock for services recorded as prepaid expense	`StockIssued1`	$91.67K	USD	1 Quarter
Reclassification of machinery and equipment purchases to inventory	`ReclassificationOfMachineryAndEquipmentPurchasesToInventory`	-	USD	1 Quarter
Reclassification of machinery and equipment purchases to inventory	`ReclassificationOfMachineryAndEquipmentPurchasesToInventory`	$37.86K	USD	1 Quarter
Other capital contribution	`ProceedsFromContributedCapital`	-	USD	1 Quarter
Other capital contribution	`ProceedsFromContributedCapital`	$25.20K	USD	1 Quarter

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$11.95M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.22M	USD	Point-in-time
Stock based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$554.09K	USD	1 Quarter
Stock issued in connection with satisfaction of accrued expense	`StockIssuedDuringPeriodValueOther`	$325.00K	USD	1 Quarter
Stock cancellation	`StockIssuedDuringPeriodValueShareBasedCompensationForfeited`	$34.50K	USD	1 Quarter
Net loss	`ProfitLoss`	$-5.32M	USD	1 Quarter
Net loss	`ProfitLoss`	$-4.12M	USD	1 Quarter
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$11.95M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.22M	USD	Point-in-time

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