secwatch.observer — SEC 8-K summary
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Issuer:     22nd Century Group, Inc. (XXII)
CIK:        0001347858
Form:       8-K
Filed at:   2023-11-06T23:59:59+00:00
Accession:  0001558370-23-017661
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

22nd Century Group Q3 net revenue $17.8M, operating loss $71.5M with $57M non-cash charges
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- Net revenue $17.8M, down from $19.4M YoY; gross profit -$2.0M vs +$0.6M.
- Operating loss $71.5M includes $33.4M goodwill impairment and $23.3M restructuring costs.
- Adjusted EBITDA loss $11.2M, slightly worse than $11.0M loss in prior year quarter.
- VLN stores expanded to over 4,550 in 19 states from ~1,100 in 14 states at June 30.
- Reduced principal debt by $8.1M in Oct; raised $5.25M in equity same month.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347858/000155837023017661/0001558370-23-017661-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347858/000155837023017661/xxii-20231106x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-017661

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