Company: XXII
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001558370-25-007482
Chunk: 1

Company: 22nd Century Group, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 8
Chunk 1
---
 it can generate significant revenue and profit in its tobacco business. The Company had negative cash flow from operations of $2,976 and $2,255 for the three months ended March 31, 2025 and 2024, respectively, and an accumulated deficit of $398,199 and $393,871 as of March 31, 2025 and December 31, 2024, respectively. As of March 31, 2025, the Company had cash and cash equivalents of $1,133.Given the Company’s projected operating requirements and its existing cash and cash equivalents, there is substantial doubt about the Company’s ability to continue as a going concern through one year following the date that the Condensed Consolidated Financial Statements are issued.In response to these conditions, management is currently evaluating different strategies for reducing expenses, as well as pursuing financing strategies which include raising additional funds through the issuance of debt or equity securities, asset sales, and through arrangements with strategic partners. If capital is not available to the Company when, and in the amounts needed, it could be required to liquidate inventory, cease or curtail operations, or seek protection under applicable bankruptcy laws or similar state proceedings. There can be no assurance that the Company will be able to raise the capital it needs to continue operations. Management’s plans do not alleviate substantial doubt about the Company’s ability to continue as a going concern through one year following the date that the Condensed Consolidated Financial Statements are issued.​The Condensed Consolidated Financial Statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty.