secwatch.observer — SEC 8-K summary
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Issuer:     22nd Century Group, Inc. (XXII)
CIK:        0001347858
Form:       8-K
Filed at:   2024-08-13T23:59:59+00:00
Accession:  0001558370-24-011966
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

22nd Century Q2 net loss narrows to $2.2M; targets cash positive by Q1 2025
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- Net revenues $7.9M, up 22.8% sequentially; net loss $2.2M, improved 61.4% from Q1 2024.
- Gross profit turned positive to $0.6M vs $(1.1)M in Q1; operating loss halved to $2.0M.
- Reduced net debt by ~$6.3M year-to-date; aiming for cash positive operations in Q1 2025.
- Cigarette rev $4.1M (+8% YoY) aided by $0.9M Spectrum order; cigarillo dist. rev $0.6M.
- VLN revenue negligible; company plans rebrand/relaunch due to low sell-through.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347858/000155837024011966/0001558370-24-011966-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347858/000155837024011966/xxii-20240813x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-011966

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