10-Q Filing

22ND CENTURY GROUP, INC. CIK: 1347858 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001558370-21-006038`
Period End Date	20210331
Filing Date	20210506
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	xxii-20210331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 41 Cash Flow Statement 67 Stockholders Equity 19

Balance Sheet 76 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	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$719.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.03M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$485.00K	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.27M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Short-term investment securities	`ShortTermInvestments`	$21.31M	USD	Point-in-time
Short-term investment securities	`ShortTermInvestments`	$29.67M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.16M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.02M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	139.06M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	152.40M	shares	Point-in-time
Inventory, net	`InventoryNet`	$2.03M	USD	Point-in-time
Inventory, net	`InventoryNet`	$2.14M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	139.06M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	152.40M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.81M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.28M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.34M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$36.38M	USD	Point-in-time
Machinery and equipment, net	`MachineryAndEquipmentNet`	$2.49M	USD	Point-in-time
Machinery and equipment, net	`MachineryAndEquipmentNet`	$2.48M	USD	Point-in-time
Operating leases right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$182.00K	USD	Point-in-time
Operating leases right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$247.00K	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentNet`	$2.73M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentNet`	$2.67M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$8.21M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$8.11M	USD	Point-in-time
Investments	`LongTermInvestments`	$6.54M	USD	Point-in-time
Investments	`LongTermInvestments`	$6.64M	USD	Point-in-time
Convertible note	`NotesReceivableRelatedPartiesNoncurrent`	$5.88M	USD	Point-in-time
Convertible note	`NotesReceivableRelatedPartiesNoncurrent`	$5.88M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipmentNet`	$20.62M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipmentNet`	$20.63M	USD	Point-in-time
Total assets	`Assets`	$51.69M	USD	Point-in-time
Total assets	`Assets`	$59.68M	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$539.00K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$295.00K	USD	Point-in-time
Operating lease obligations	`OperatingLeaseLiabilityCurrent`	$247.00K	USD	Point-in-time
Operating lease obligations	`OperatingLeaseLiabilityCurrent`	$182.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.57M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.68M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.83M	USD	Point-in-time
Accrued severance, current	`PostemploymentBenefitsLiabilityCurrent`	$274.00K	USD	Point-in-time
Accrued severance, current	`PostemploymentBenefitsLiabilityCurrent`	$339.00K	USD	Point-in-time
Deferred income	`ContractWithCustomerLiabilityCurrent`	-	USD	Point-in-time
Deferred income	`ContractWithCustomerLiabilityCurrent`	$272.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.00M	USD	Point-in-time
Severance obligations	`PostemploymentBenefitsLiabilityNoncurrent`	$241.00K	USD	Point-in-time
Severance obligations	`PostemploymentBenefitsLiabilityNoncurrent`	$187.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$7.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.58M	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`	$2.00K	USD	Point-in-time
Common stock value	`CommonStockValue`	$1.00K	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$202.88M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$189.44M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$74.00K	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$42.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-145.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-150.43M	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 shareholders' equity	`StockholdersEquity`	$44.11M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$52.49M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$51.69M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$59.68M	USD	Point-in-time

Income Statement 41 line items

Line Item	Tag	Value	Unit	Period
Sale of products, net	`RevenueFromContractWithCustomerExcludingAssessedTax`	$6.81M	USD	1 Quarter
Sale of products, net	`RevenueFromContractWithCustomerExcludingAssessedTax`	$7.06M	USD	1 Quarter
Products	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$6.16M	USD	1 Quarter
Products	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$6.77M	USD	1 Quarter
Gross profit (loss)	`GrossProfitExcludingDepreciation`	$647.00K	USD	1 Quarter
Gross profit (loss)	`GrossProfitExcludingDepreciation`	$287.00K	USD	1 Quarter
Selling, general and administrative (including equity-based compensation )	`SellingGeneralAndAdministrativeExpense`	$3.14M	USD	1 Quarter
Selling, general and administrative (including equity-based compensation )	`SellingGeneralAndAdministrativeExpense`	$4.83M	USD	1 Quarter
Depreciation	`Depreciation`	$156.00K	USD	1 Quarter
Depreciation	`Depreciation`	$138.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$172.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$150.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.82M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.43M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.14M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-5.17M	USD	1 Quarter
Unrealized (loss) gain on investment	`UnrealizedGainLossOnInvestments`	$-445.00K	USD	1 Quarter
Unrealized (loss) gain on investment	`UnrealizedGainLossOnInvestments`	$36.00K	USD	1 Quarter
Realized (loss) on short-term investment securities	`MarketableSecuritiesRealizedGainLoss`	$-3.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeNet`	$112.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeNet`	$612.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$7.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$12.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$152.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$141.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.03M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.99M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$38.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.03M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.03M	USD	1 Quarter
Unrealized gain (loss) on short-term investment securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-196.00K	USD	1 Quarter
Unrealized gain (loss) on short-term investment securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-32.00K	USD	1 Quarter
Reclassification of (gain) loss to net loss	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax`	$-3.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-32.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-193.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-5.06M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.22M	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`	$-0.03	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in thousands)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	144.26M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in thousands)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	138.61M	shares	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-4.03M	USD	1 Quarter
Net loss	`ProfitLoss`	$-5.03M	USD	1 Quarter
Amortization and depreciation	`AmortizationAndDepreciationExcludingAmortizationOfIntangibles`	$226.00K	USD	1 Quarter
Amortization and depreciation	`AmortizationAndDepreciationExcludingAmortizationOfIntangibles`	$266.00K	USD	1 Quarter
Amortization of license fees	`AmortizationOfLicenseFees`	$62.00K	USD	1 Quarter
Amortization of license fees	`AmortizationOfLicenseFees`	$62.00K	USD	1 Quarter
Amortization of ROU assets	`OperatingLeaseCost`	$65.00K	USD	1 Quarter
Amortization of ROU assets	`OperatingLeaseCost`	$71.00K	USD	1 Quarter
Unrealized (gain) loss on investment	`UnrealizedGainLossOnInvestments`	$-445.00K	USD	1 Quarter
Unrealized (gain) loss on investment	`UnrealizedGainLossOnInvestments`	$36.00K	USD	1 Quarter
Realized (gain) loss on short-term investment securities	`MarketableSecuritiesRealizedGainLoss`	$-3.00K	USD	1 Quarter
Accretion of non cash interest expense	`AccretionExpense`	$6.00K	USD	1 Quarter
Accretion of non cash interest expense	`AccretionExpense`	$12.00K	USD	1 Quarter
Accretion of non-cash interest income	`AccretionIncome`	$209.00K	USD	1 Quarter
Accretion of non-cash interest income	`AccretionIncome`	$45.00K	USD	1 Quarter
Equity-based employee compensation expense	`ShareBasedCompensation`	$481.00K	USD	1 Quarter
Equity-based employee compensation expense	`ShareBasedCompensation`	$507.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-135.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$266.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$182.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$103.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-526.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$273.00K	USD	1 Quarter
Operating lease obligations	`IncreaseDecreaseInOperatingLeaseLiability`	$-66.00K	USD	1 Quarter
Operating lease obligations	`IncreaseDecreaseInOperatingLeaseLiability`	$-70.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-639.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$381.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-188.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-148.00K	USD	1 Quarter
Accrued severance	`IncreaseDecreaseInDeferredCompensation`	$-213.00K	USD	1 Quarter
Accrued severance	`IncreaseDecreaseInDeferredCompensation`	$-119.00K	USD	1 Quarter
Deferred income	`IncreaseDecreaseInContractWithCustomerLiability`	$-272.00K	USD	1 Quarter
Deferred income	`IncreaseDecreaseInContractWithCustomerLiability`	$66.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.91M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.66M	USD	1 Quarter
Acquisition of patents and trademarks	`PaymentsToAcquireIntangibleAssets`	$20.00K	USD	1 Quarter
Acquisition of patents and trademarks	`PaymentsToAcquireIntangibleAssets`	$103.00K	USD	1 Quarter
Acquisition of machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$8.00K	USD	1 Quarter
Acquisition of machinery and equipment	`PaymentsToAcquireMachineryAndEquipment`	$100.00K	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`	$4.95M	USD	1 Quarter
Purchase of short-term investment securities	`PaymentsToAcquireShortTermInvestments`	$6.61M	USD	1 Quarter
Purchase of short-term investment securities	`PaymentsToAcquireShortTermInvestments`	$13.37M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.90M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.54M	USD	1 Quarter
Payment on note payable	`RepaymentsOfNotesPayable`	$246.00K	USD	1 Quarter
Net proceeds from option exercises	`ProceedsFromStockOptionsExercised`	$1.15M	USD	1 Quarter
Net proceeds from warrant exercises	`ProceedsFromWarrantExercises`	$11.78M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.69M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$243.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$234.00K	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`	$1.03M	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`	$1.27M	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`	$1.03M	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`	$1.27M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid during the period for interest	`InterestPaidNet`	$1.00K	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`	$29.00K	USD	1 Quarter
Machinery and equipment additions included in accounts payable	`MachineryAndEquipmentAdditionsIncludedInAccountsPayable`	-	USD	1 Quarter
Machinery and equipment additions included in accounts payable	`MachineryAndEquipmentAdditionsIncludedInAccountsPayable`	$43.00K	USD	1 Quarter
Right-of-use assets and corresponding operating lease obligations	`RightOfUseAssetsAndCorrespondingOperatingLeaseObligations`	$198.00K	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$62.05M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$58.31M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$44.11M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$52.49M	USD	Point-in-time
Stock issued in connection with RSU vesting	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	1 Quarter
Stock issued in connection with warrant exercises	`StockIssuedDuringPeriodValueWarrantsExercise`	$11.78M	USD	1 Quarter
Stock issued in connection with option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.15M	USD	1 Quarter
Stock issued in connection with option exercises (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	846,000.00	shares	1 Quarter
Equity-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$507.00K	USD	1 Quarter
Equity-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$481.00K	USD	1 Quarter
Unrealized gain (loss) on short-term investment securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	$-32.00K	USD	1 Quarter
Unrealized gain (loss) on short-term investment securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	$-196.00K	USD	1 Quarter
Reclassification of losses (gains) to net loss	`OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax`	$3.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.03M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.03M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$62.05M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$58.31M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$44.11M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$52.49M	USD	Point-in-time

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