10-Q Filing

22ND CENTURY GROUP, INC. CIK: 1347858 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001144204-17-025219`
Period End Date	20170331
Filing Date	20170508
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	xxii-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 40 Cash Flow Statement 62 Stockholders Equity 8

Balance Sheet 62 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
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Cash	`Cash`	$6.05M	USD	Point-in-time
Cash	`Cash`	$13.47M	USD	Point-in-time
Cash	`Cash`	$10.73M	USD	Point-in-time
Cash	`Cash`	$3.76M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.13K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$40.99K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	90.80M	shares	Point-in-time
Inventory, net	`InventoryNet`	$3.09M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	90.70M	shares	Point-in-time
Inventory, net	`InventoryNet`	$3.03M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$195.57K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	90.80M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$433.68K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	90.70M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$14.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.80M	USD	Point-in-time
Machinery and equipment, net	`PropertyPlantAndEquipmentNet`	$2.36M	USD	Point-in-time
Machinery and equipment, net	`PropertyPlantAndEquipmentNet`	$2.43M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$7.39M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$7.44M	USD	Point-in-time
Investment	`EquityMethodInvestments`	$1.37M	USD	Point-in-time
Investment	`EquityMethodInvestments`	$1.02M	USD	Point-in-time
Total other assets	`AssestsNoncurrentExcludingPropertyPlantAndEquipmentNet`	$8.81M	USD	Point-in-time
Total other assets	`AssestsNoncurrentExcludingPropertyPlantAndEquipmentNet`	$8.41M	USD	Point-in-time
Total assets	`Assets`	$27.64M	USD	Point-in-time
Total assets	`Assets`	$25.37M	USD	Point-in-time
Current portion of note payable	`NotesPayableCurrent`	$307.94K	USD	Point-in-time
Current portion of note payable	`NotesPayableCurrent`	$314.23K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.73M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.34M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.23M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.40M	USD	Point-in-time
Accrued severance	`AccruedSeveranceLiabilitiesCurrent`	$199.66K	USD	Point-in-time
Accrued severance	`AccruedSeveranceLiabilitiesCurrent`	$149.37K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.42M	USD	Point-in-time
Warrant liability	`DerivativeLiabilitiesNoncurrent`	$64.03K	USD	Point-in-time
Warrant liability	`DerivativeLiabilitiesNoncurrent`	$2.90M	USD	Point-in-time
Warrant liability	`DerivativeLiabilitiesNoncurrent`	$58.68K	USD	Point-in-time
Warrant liability	`DerivativeLiabilitiesNoncurrent`	$3.04M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.48M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.31M	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common shares value	`CommonStockValue`	$908.00	USD	Point-in-time
Common shares value	`CommonStockValue`	$907.00	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$102.47M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$102.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-78.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-80.76M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$24.33M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$21.88M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$27.64M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$25.37M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Sale of products, net	`SalesRevenueGoodsNet`	$3.02M	USD	1 Quarter
Sale of products, net	`SalesRevenueGoodsNet`	$2.23M	USD	1 Quarter
Products	`CostOfGoodsSold`	$2.51M	USD	1 Quarter
Products	`CostOfGoodsSold`	$2.90M	USD	1 Quarter
Gross (loss) profit	`GrossProfit`	$-273.90K	USD	1 Quarter
Gross (loss) profit	`GrossProfit`	$123.65K	USD	1 Quarter
Research and development (including equity based compensation of $13,950 and $45,056, respectively)	`ResearchAndDevelopmentExpense`	$597.39K	USD	1 Quarter
Research and development (including equity based compensation of $13,950 and $45,056, respectively)	`ResearchAndDevelopmentExpense`	$550.85K	USD	1 Quarter
General and administrative (including equity based compensation of $128,449 and $226,175, respectively)	`GeneralAndAdministrativeExpense`	$1.85M	USD	1 Quarter
General and administrative (including equity based compensation of $128,449 and $226,175, respectively)	`GeneralAndAdministrativeExpense`	$1.62M	USD	1 Quarter
Sales and marketing costs (including equity based compensation of $26,580 and $11,636, respectively)	`SellingAndMarketingExpense`	$295.71K	USD	1 Quarter
Sales and marketing costs (including equity based compensation of $26,580 and $11,636, respectively)	`SellingAndMarketingExpense`	$702.61K	USD	1 Quarter
Depreciation	`Depreciation`	$88.12K	USD	1 Quarter
Depreciation	`Depreciation`	$80.60K	USD	1 Quarter
Amortization	`OtherAmortizationOfDeferredCharges`	$124.84K	USD	1 Quarter
Amortization	`OtherAmortizationOfDeferredCharges`	$140.89K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.70M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.35M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.23M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.97M	USD	1 Quarter
Warrant liability (loss) gain - net	`GainLossFromWarrantLiability`	$-5.34K	USD	1 Quarter
Warrant liability (loss) gain - net	`GainLossFromWarrantLiability`	$71.06K	USD	1 Quarter
Gain (loss) on investment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	$346.18K	USD	1 Quarter
Gain (loss) on investment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	$-87.23K	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$15.76K	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$2.49K	USD	1 Quarter
Interest expense	`InterestExpense`	$7.92K	USD	1 Quarter
Interest expense	`InterestExpense`	$10.37K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$348.67K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-24.05K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.25M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.62M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.25M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.62M	USD	1 Quarter
Loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Common shares used in basic and diluted earnings per share calculation	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	74.03M	shares	1 Quarter
Common shares used in basic and diluted earnings per share calculation	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	90.70M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.25M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.62M	USD	1 Quarter
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$204.50K	USD	1 Quarter
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$180.93K	USD	1 Quarter
Amortization of license fees	`AmortizationOfLicenseFees`	$24.51K	USD	1 Quarter
Amortization of license fees	`AmortizationOfLicenseFees`	$24.51K	USD	1 Quarter
(Gain) loss on investment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	$346.18K	USD	1 Quarter
(Gain) loss on investment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	$-87.23K	USD	1 Quarter
Accretion of interest on note payable and accrued severance	`AccretionExpense`	$10.37K	USD	1 Quarter
Accretion of interest on note payable and accrued severance	`AccretionExpense`	$7.92K	USD	1 Quarter
Warrant liability loss (gain)	`GainLossFromWarrantLiability`	$-5.34K	USD	1 Quarter
Warrant liability loss (gain)	`GainLossFromWarrantLiability`	$71.06K	USD	1 Quarter
Equity based employee compensation expense	`ShareBasedCompensation`	$168.98K	USD	1 Quarter
Equity based employee compensation expense	`ShareBasedCompensation`	$259.99K	USD	1 Quarter
Equity based payments for outside services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$22.87K	USD	1 Quarter
Equity based payments for outside services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Decrease in allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease`	$-10.00K	USD	1 Quarter
Decrease in allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$51.68K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-48.86K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$214.55K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-57.71K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-90.04K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$238.11K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$301.95K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$228.75K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-126.74K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-174.44K	USD	1 Quarter
Accrued severance	`IncreaseDecreaseInAccruedSeverance`	$-51.92K	USD	1 Quarter
Accrued severance	`IncreaseDecreaseInAccruedSeverance`	$-60.58K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.80M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.70M	USD	1 Quarter
Acquisition of patents and trademarks	`PaymentsToAcquireIntangibleAssets`	$30.10K	USD	1 Quarter
Acquisition of patents and trademarks	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Acquisition of machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$13.71K	USD	1 Quarter
Acquisition of machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$1.52K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-43.81K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.52K	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$196.00	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Net proceeds from February 2016 registered direct offering	`ProceedsFromIssuanceRegisteredDirectOfferingThree`	$5.09M	USD	1 Quarter
Net proceeds from February 2016 registered direct offering	`ProceedsFromIssuanceRegisteredDirectOfferingThree`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.09M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	-	USD	1 Quarter
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.74M	USD	1 Quarter
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.29M	USD	1 Quarter
Cash - beginning of period	`Cash`	$6.05M	USD	Point-in-time
Cash - beginning of period	`Cash`	$13.47M	USD	Point-in-time
Cash - beginning of period	`Cash`	$10.73M	USD	Point-in-time
Cash - beginning of period	`Cash`	$3.76M	USD	Point-in-time
Cash - end of period	`Cash`	$6.05M	USD	Point-in-time
Cash - end of period	`Cash`	$13.47M	USD	Point-in-time
Cash - end of period	`Cash`	$10.73M	USD	Point-in-time
Cash - end of period	`Cash`	$3.76M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	$10.37K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaidNet`	$1.63K	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`	$143.83K	USD	1 Quarter
Patent and trademark additions included in accounts payable	`PatentAndTrademarkAdditionsIncludedInAccountsPayable`	$159.69K	USD	1 Quarter
Reclassification of warrant liability to capital in excess of par due to voiding of exchange rights clause in Crede Tranche 1A warrant	`ReclassificationOfWarrantsLiabilityToCapitalInExcessOfParValue`	-	USD	1 Quarter
Reclassification of warrant liability to capital in excess of par due to voiding of exchange rights clause in Crede Tranche 1A warrant	`ReclassificationOfWarrantsLiabilityToCapitalInExcessOfParValue`	$2.81M	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$24.33M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$21.88M	USD	Point-in-time
Stock based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$168.98K	USD	1 Quarter
Stock issued in connection with warrant exercise	`StockIssuedDuringPeriodValueWarrantsExercise`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.25M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.62M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$24.33M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$21.88M	USD	Point-in-time

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