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Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 | Feb. 22, 2022 | Jun. 30, 2021 | |
Document and Entity Information | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Entity File Number | 001-36338 | ||
Entity Registrant Name | 22nd Century Group, Inc. | ||
Entity Central Index Key | 0001347858 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Tax Identification Number | 98-0468420 | ||
Entity Address, Address Line One | 500 Seneca Street, Suite 507 | ||
Entity Address, City or Town | Buffalo | ||
Entity Address, State or Province | NY | ||
Entity Address, Postal Zip Code | 14204 | ||
City Area Code | 716 | ||
Local Phone Number | 270-1523 | ||
Title of 12(b) Security | Common Stock, $0.00001 par value | ||
Security Exchange Name | NASDAQ | ||
Trading Symbol | XXII | ||
Entity Current Reporting Status | Yes | ||
ICFR Auditor Attestation Flag | true | ||
Auditor Name | Freed Maxick, CPAs, P.C. | ||
Auditor Firm ID | 317 | ||
Auditor Location | Buffalo, New York | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Public Float | $ 740 | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Common Stock, Shares Outstanding | 162,938,375 |
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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by 22Nd Century Group, Inc..
22Nd Century Group, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:
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Net cash provided by (used in) financing activities During the year ended December 31, 2021, cash provided by financing activities increased by $51,179 resulting from (i) the net proceeds of $11,782 resulting from cash exercises of all outstanding warrants during the first quarter of 2021; (ii) net proceeds of $38,206 resulting from a capital raise in June 2021; (iii) net proceeds pertaining to notes payable issuances and payments of $49; and (iv) net proceeds from stock option exercises of $1,307.
This increase in working capital was primarily due to a $26,394 increase in cash, cash equivalents and short-term investment securities resulting from (i) net proceeds of $11,782 from the cash exercises of all outstanding warrants during the first quarter of 2021; and (ii) net proceeds of $38,206 from a capital raise in June 2021 described below, offset primarily by cash and cash equivalents consumed in the operating activities of the Company.
Costs of goods sold - Products / Gross profit For the year ended December 31, 2021, the increase in gross profit as compared to 2020 was primarily driven by improved contract manufactured sales mix due to new customer contracts, cigarette price increases and sales of our higher margin SPECTRUM research cigarettes.
The decrease in 2021 was primarily due to amortization expense on a lower base of amortizable intangible assets.
Research and development expense R&D expense during the year ended December 31, 2021, decreased $834 as compared to the prior year, primarily driven by lower costs for R&D personnel, consulting and professional services, and licenses and contracts, as well as a 2020 tobacco leaf inventory impairment of $360 that did not recur in 2021.
Interest expense ? Interest expense...Read more
Depreciation expense ? The decrease...Read more
We believe our short-term investment...Read more
Cash interest income for the...Read more
Under the new administration and...Read more
Amounts in thousands, except for...Read more
This increase was primarily due...Read more
Personnel expense decreased by $222...Read more
This overall change of $44,198...Read more
We will maintain diligent financial...Read more
As of December 31, 2021,...Read more
With the addition of this...Read more
Net cash used in operating...Read more
In addition, during 2021 director...Read more
Sales, general and administrative expense...Read more
We also have an effective...Read more
Impairment of Long-Lived Assets -...Read more
Consulting and professional services decreased...Read more
We anticipate a phased rollout...Read more
Since reporting third quarter 2021...Read more
We believe that recent political...Read more
These transactions resulted in the...Read more
Unrealized (loss) gain on investments...Read more
Our intangible assets subject to...Read more
We recorded an unrealized loss...Read more
Net loss for the full...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
22Nd Century Group, Inc. provided additional information to their SEC Filing as exhibits
Ticker: XXII
CIK: 1347858
Form Type: 10-K Annual Report
Accession Number: 0001558370-22-002452
Submitted to the SEC: Tue Mar 01 2022 6:14:30 AM EST
Accepted by the SEC: Tue Mar 01 2022
Period: Friday, December 31, 2021
Industry: Cigarettes