22nd Century Group, Inc (XXII) Financial Statements (2024 and earlier)

Company Profile

Business Address 8560 MAIN STREET
WILLIAMSVILLE, NY 14221
State of Incorp. NV
Fiscal Year End December 31
Industry (SIC) 2111 - Cigarettes (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments18,19347,40021,31338,96256,35462,635
Cash and cash equivalents   4856053,660
Short-term investments 18,19347,40021,31338,47755,74958,976
Receivables5,6415852,159867871957
Inventory, net of allowances, customer advances and progress billings10,0082,8812,0342,2663,0443,283
Inventory10,0082,8812,0342,2663,0443,283
Contract with customer, asset, after allowance for credit loss354178349  
Other undisclosed current assets10,4093,3412,486648928747
Total current assets:44,60554,38528,34142,74361,19867,621
Noncurrent Assets
Operating lease, right-of-use asset2,6751,723  
Property, plant and equipment13,0935,8412,7303,7223,2613,316
Long-term investments and receivables6822,34512,4128,4033,0921,366
Due from related parties  5,876   
Long-term investments6822,3456,5368,4033,0921,366
Intangible assets, net (including goodwill)50,0137,9198,2118,4949,7527,435
Goodwill 33,160     
Intangible assets, net (excluding goodwill)16,8537,9198,2118,4949,7527,435
Other noncurrent assets3,5833,741    
Other undisclosed noncurrent assets    5,589  
Total noncurrent assets:70,04621,56923,35326,20816,10512,118
TOTAL ASSETS:114,65175,95451,69468,95177,30279,739
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities5,5967,1875,9464,6164,4014,068
Taxes payable1,270    
Employee-related liabilities2,255    
Accounts payable4,1682,1731,1161,9982,5752,081
Accrued liabilities1,4281,4894,8302,6191,8261,988
Deferred revenue8311192725
Debt908596539801689 
Derivative instruments and hedges, liabilities      216
Postemployment benefits liability  217339   
Business combination, contingent consideration, liability      
Deferred revenue and credits28
Other liabilities380     
Other undisclosed current liabilities5,30330824735983 
Total current liabilities:13,0188,4277,3435,7805,1744,313
Noncurrent Liabilities
Long-term debt and lease obligation 3,0011,432 674848 
Long-term debt, excluding current maturities 3,001  292848 
Liabilities, other than long-term debt2,65721241446  
Liability, pension and other postretirement and postemployment benefits  21241   
Due to related parties   446  
Other liabilities516     
Operating lease, liability2,1411,432 382
Other undisclosed noncurrent liabilities      
Total noncurrent liabilities:5,6581,4532411,120848 
Total liabilities:18,6769,8807,5846,9016,0224,313
Equity
Equity, attributable to parent95,97566,07444,11062,05171,28075,426
Common stock 221111
Additional paid in capital333,898244,247189,439187,735170,392166,593
Accumulated other comprehensive income (loss)(111)(162)74721 
Accumulated deficit(237,814)(178,013)(145,404)(125,693)(99,134)(91,168)
Total equity:95,97566,07444,11062,05171,28075,426
TOTAL LIABILITIES AND EQUITY:114,65175,95451,69468,95177,30279,739

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues62,11130,94828,11125,83326,42616,600
Revenue, net16,600
Cost of revenue
(Cost of Goods and Services Sold)
(60,937)(28,879)(26,673)(25,818)(25,527)(17,308)
Gross profit:1,1742,0691,43814899(708)
Operating expenses(58,280)(30,481)(20,621)(23,581)(24,918)(12,592)
Operating loss:(57,106)(28,412)(19,183)(23,566)(24,019)(13,300)
Nonoperating income (expense)(3,129)(4,183)(490)(2,992)16,052271
Investment income, nonoperating3133211,7511,0661,069115
Interest and debt expense(353)(58)(72)(56)(11)(29)
Loss from continuing operations before equity method investments, income taxes:(60,588)(32,653)(19,745)(26,615)(7,978)(13,058)
Other undisclosed income from continuing operations before income taxes3535872561129
Loss from continuing operations before income taxes:(60,235)(32,595)(19,673)(26,559)(7,967)(13,029)
Income tax expense (benefit)434(14)(38)5,5521,460 
Loss from continuing operations:(59,801)(32,609)(19,711)(21,006)(6,507)(13,029)
Loss before gain (loss) on sale of properties:(32,609)(19,711)(21,006)(6,507)(13,029)
Net loss:(59,801)(32,609)(19,711)(21,006)(6,507)(13,029)
Other undisclosed net loss attributable to parent    (5,552)(1,460) 
Net loss attributable to parent:(59,801)(32,609)(19,711)(26,559)(7,967)(13,029)
Preferred stock dividends and other adjustments      
Other undisclosed net loss available to common stockholders, basic      
Net loss available to common stockholders, basic:(59,801)(32,609)(19,711)(26,559)(7,967)(13,029)
Other undisclosed net income available to common stockholders, diluted      
Net loss available to common stockholders, diluted:(59,801)(32,609)(19,711)(26,559)(7,967)(13,029)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net loss:(59,801)(32,609)(19,711)(21,006)(6,507)(13,029)
Other comprehensive income (loss)51(236)67(14)21 
Comprehensive loss:(59,750)(32,845)(19,644)(21,021)(6,485)(13,029)
Other undisclosed comprehensive loss, net of tax, attributable to parent    (5,552)(1,460) 
Comprehensive loss, net of tax, attributable to parent:(59,750)(32,845)(19,644)(26,573)(7,946)(13,029)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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