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22nd Century Group (XXII)
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02-22-2015, 11:03 AM
You may like technology (who doesn't these days) or the energy sector (where would we be without it) -- but if you're making a long-term bet as an investor, there's a lot going for Big Tobacco. It's not just that tobacco boasts the best historical performance of all U.S. industries. The industry's future seems especially bright. As marijuana gradually becomes a legal drug, Big Tobacco is poised to dominate the market.
04-16-2015, 11:58 PM
22nd Century Group Announces Launch of “0.0 mg Nicotine” MAGIC Cigarettes in Spain 22nd Century Group, Inc. (NYSE MKT:XXII) today announced that on April 21, 2015 in Valencia, Spain at the SH Valencia Palace hotel, the Company will hold a press conference announcing the launch of MAGIC cigarettes in approximately 900 state-licensed retail shops across Spain. MAGIC cigarettes will be available to consumers starting April 24, 2015. 22nd Century’s MAGIC cigarettes are made with the Company’s proprietary very low nicotine tobacco and are manufactured for sale in Europe by Orion Tobacco Corporation. Designed to appeal to discriminating consumers and positioned to compete with premium cigarette brands, MAGIC 0 yields only 0.04 mg nicotine per cigarette – 95% less nicotine than conventional cigarette brands. Indeed, MAGIC 0 is the world’s only virtually nicotine-free tobacco cigarette. MAGIC 2 yields 0.2 mg nicotine per cigarette – an 80% reduction in nicotine as compared to conventional brands. In accordance with European regulations which require cigarette manufacturers to list the nicotine yield directly on each pack of cigarettes and to round the yield to the nearest 1/10 place, MAGIC 0 packs prominently feature the words: “0.0 mg nicotine.” MAGIC 2 packs read “0.2 mg nicotine.” Dr. Michael Moynihan, VP of Research and Development at 22nd Century remarked: “We are very proud of our technology which allows us to grow the world’s lowest nicotine tobacco. This technology is what makes our extraordinary MAGIC 0 cigarettes possible.” Aldista 2000, the distributor for MAGIC cigarettes across Spain, has taken pre-orders for MAGIC cigarettes at more than 900 stores and expects to place MAGIC in 2,500 retail stores – approximately 18% of the retail cigarette stores in Spain – by the end of this summer. Mr. Miguel Molina of Trexper who serves 4,500 retail locations in Spain explained, “Since I learned that MAGIC was coming to Spain, I knew I wanted to sell these nicotine-free cigarettes in my stores. I am confident MAGIC 0 cigarettes will be very well received by consumers who want to be free of their addiction to nicotine.” "Using proprietary, real tobacco grown in the United States – without any artificial extraction or chemical processes – 22nd Century is the only company in the world that can make '0.0 mg nicotine' cigarettes," explained Henry Sicignano III, President and Chief Executive Officer. "Launching in Spain is an important first step for us... Later this year, we intend to expand distribution of MAGIC cigarettes to other parts of Europe."
04-21-2015, 12:39 PM
Bloomberg Intelligence identified 55 public companies whose business is based largely or completely on legal marijuana, and whose shares traded at $0.10 or more as of April 15th. These wildly fluctuating penny stocks aren’t for the faint of heart. For These 55 Marijuana Companies, Every Day is 4/20 The link contains some cool graphs..
04-21-2015, 10:37 PM
The pot holiday '4/20' is a major sales boost for marijuana vendors similar to the way St. Patrick's Day lifts beer sales, said Christian Hageseth, founder of Green Man Cannabis and author of 'Big Weed.' Hageseth added that he tripled sales of marijuana this past weekend and won the 'Cannabis Cup' for the fourth year in a row. He said inefficient markets still make it possible for entrepreneurs to enter the marijuana business. In the long term, however, Hageseth said he expects big pharma and big tobacco to gain a huge share of the market, as well as a large consolidated company similar to the way Starbucks is the dominant coffee chain. Still, he said there will be room for small individual operators in the same vein as independent booksellers. Expect Big Tobacco, Big Pharma to Eventually Cash in on 'Big Weed' - Video - TheStreet
04-28-2015, 11:12 AM
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Three Months Ended March 31, |
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2015 |
2014 |
% Change |
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| Net loss | $ | (4,116,739 | ) | $ | (5,315,128 | ) | -23 | % | |||||
| Adjustments: | |||||||||||||
| Warrant liability (gain) loss - net | (59,213 | ) | 4,067,270 | -101 | % | ||||||||
| Warrant amendment inducement expense | - | 144,548 | -100 | % | |||||||||
| Depreciation and amortization | 160,891 | 71,269 | 126 | % | |||||||||
| Loss on equity investment | 50,981 | - | 100 | % | |||||||||
| Interest expense | 5,508 | 1,749 | 215 | % | |||||||||
| Stock based compensation | 2,441,205 | 356,684 | 584 | % | |||||||||
| Gain on the sale of machinery and equipment | - | (85,621 | ) | -100 | % | ||||||||
| Adjusted EBITDA | $ | (1,517,367 | ) | $ | (759,229 | ) | 100 | % | |||||
Adjusted EBITDA is a financial measure not prepared in accordance with generally accepted accounting principles (“GAAP”). In order to calculate Adjusted EBITDA, the Company adjusts the net loss for certain non-cash and non-operating income and expense items listed in the table above in order to measure the Company’s operating performance. The Company believes that Adjusted EBITDA is an important measure that supplements discussion and analysis of its operations and enhances an understanding of its operating performance. While management considers Adjusted EBITDA to be important, it should be considered in addition to, but not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP, such as operating loss, net loss and cash flows from operations. Adjusted EBITDA is susceptible to varying calculations and the Company’s measurement of Adjusted EBITDA may not be comparable to those of other companies.
About 22nd Century Group, Inc.
22nd Century Group is a plant biotechnology company focused on technology which allows it to increase or decrease the level of nicotine in tobacco plants through genetic engineering and plant breeding. The Company’s mission is to reduce the harm caused by smoking. 22nd Century owns or exclusively controls 128 issued patents and 52 pending patent applications in 96 countries. The Company’s strong IP position led to a licensing agreement with British American Tobacco (“BAT”), the world’s second largest tobacco company. Visit www.xxiicentury.com for more information.
Cautionary Note Regarding Forward-Looking Statements: This press release contains forward-looking information, including all statements that are not statements of historical fact regarding the intent, belief or current expectations of 22nd Century Group, Inc., its directors or its officers with respect to the contents of this press release. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend” and similar expressions and variations thereof are intended to identify forward-looking statements. We cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events or circumstances, or to reflect the occurrence of unanticipated events. You should carefully review and consider the various disclosures made by us in our annual report on Form 10-K for the year ended December 31, 2014, filed on February 5, 2015, including the section entitled “Risk Factors,” and our other reports filed with the U.S. Securities and Exchange Commission which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected.
22nd Century Launches Website in 8 Languages Detailing Science and Clinical Studies for Worlds Lowest Nicotine Tobacco; Company to Present at Rodman & Renshaw Global Investment Conference on September 9th
CLARENCE, N.Y.--(BUSINESS WIRE)-- 22nd Century Group, Inc. (XXII) (NYSE MKT: XXII), a leader in tobacco harm reduction, announced today that the Company has launched a new website for its 0.0 mg nicotine MAGIC 0 brand cigarettes.
Launched in Europe in April 2015, MAGIC 0 cigarettes feature the natural tobacco taste of conventional cigarettes, but are made with the worlds lowest nicotine tobacco. Without any artificial extraction or chemical processes, MAGIC 0 yields only 0.04 mg of nicotine per cigarette 95% less nicotine than conventional cigarettes. No other company can grow tobacco with such low nicotine content. In accordance with European regulations which require cigarette manufacturers to list the nicotine yield directly on each pack of cigarettes and to round the yield to the nearest 1/10 place, MAGIC 0 packs prominently feature the words: 0.0 mg nicotine.
Visitors to the new MAGIC website are provided details on the science that makes the worlds lowest nicotine cigarettes possible. The website also showcases 5 independent clinical trials that have used cigarettes made with 22nd Centurys proprietary Very Low Nicotine tobacco. With world-wide public health implications, www.magiccigarettes.com is available in 8 languages including English, Spanish, French, Italian, Dutch, German, Chinese, and Japanese.
22nd Century believes that its proprietary cigarettes protected by a very large number of patents and supported by a host of independent clinical studies will be the first combustible cigarettes authorized by the FDA to be marketed as reduced exposure products, explained Henry Sicignano III, President and Chief Executive Officer. 22nd Century will submit its application to the FDA this fall and we look forward to receiving FDA authorization to properly label and market our extraordinary Very Low Nicotine cigarettes in the United States.
To date, no big tobacco companies have been authorized to market their cigarettes as reduced exposure or modified risk tobacco products. In fact, on August 27, 2015, the FDA Center for Tobacco Products issued a warning letter to Natural American Spirit maker Santa Fe Natural Tobacco Company Inc. for representing explicitly and/or implicitly that [Natural American Spirit cigarettes] or their smoke do not contain or are free of a substance and/or that the products present a lower risk of tobacco-related disease or are less harmful than one or more other commercially marketed tobacco products. Santa Fe was ordered by the FDA to immediately correct the violations and to take any necessary actions to bring its tobacco products into compliance with the federal Food, Drug, and Cosmetic Act and the Family Smoking Prevention and Tobacco Control Act.
In related news, 22nd Century Group today announced that it will present at the Rodman & Renshaw 17th Annual Global Investment Conference on September 9, 2015 at the St. Regis Hotel, New York City. Mr. Sicignano and Chief Financial Officer, John T. Brodfuehrer, will discuss the Companys plans for expansion of the Very Low Nicotine product line as well as business highlights for the Company generally.
Mr. Sicignano and Mr. Brodfuehrer will also be available for one-on-one meetings with investors. To arrange a meeting with the Companys executive management, please contact Andrew Haag at xxii@irthcommunications.com or 1-866-976-4784.
The study, which was funded by the National Institute on Drug Abuse (NIDA) and the U.S. Food and Drug Administration (FDA) Center for Tobacco Products, included six styles of 22nd Centurys SPECTRUM research cigarettes. The SPECTRUM cigarettes had nicotine contents ranging from 15.8 mg per gram of tobacco (similar to commercial brands) to 0.4 mg per gram (very low nicotine). The very low nicotine SPECTRUM cigarettes contain 95% less nicotine than conventional cigarettes. 22nd Century is the only company in the world capable of growing tobacco with such low nicotine content.
Researchers found that during the 6th and final week of the trial, participants who were assigned 22nd Century SPECTRUM cigarettes with 0.4 mg/g nicotine smoked fewer cigarettes per day (14.9) than those assigned to their usual brand (22.2). In fact, very low nicotine cigarettes were found to reduce exposure to, and dependence on, nicotine and to reduce cravings while adverse events were generally mild and similar among groups. Moreover, in the 30 days following the trial, smokers of very low nicotine cigarettes reported they attempted to quit smoking at a rate double that of participants who smoked cigarettes with 15.8 mg/gram nicotine (34.7% vs. 17%).
The studys lead author, Dr. Eric Donny, explained in an article posted on usatoday.com, "The evidence is getting stronger that reducing nicotine reduces smoking and makes people less addicted to cigarettes and, in doing so, might make them more likely to quit." To further test this theory, 22nd Centurys proprietary SPECTRUM cigarettes are being used in a Phase III clinical study that follows 1,250 smokers for five months (ClinicalTrials.gov NCT02139930).
The results of previous studies using very low nicotine cigarettes have demonstrated a host of desirable outcomes including reduced smoking, reduced nicotine exposure, reduce nicotine dependence, increased abstinence, reduced exposure to toxicants and few adverse events with little evidence of withdrawal-related discomfort or safety concerns. Unlike light cigarettes (as previously labeled and marketed by conventional tobacco companies) which reduce machine-smoking nicotine yields by diluting the smoke rather than by reducing the nicotine content of the tobacco itself, very low nicotine cigarettes do not result in compensatory smoking.
In the past 8 years, the prospect of reducing the addictiveness of cigarettes has received renewed attention from numerous health organizations, including the Institute of Medicine, the World Health Organization (WHO) and the Office of the U.S. Surgeon General. The Tobacco Control Act, enacted in 2009, granted the FDA authority to set standards that reduce the nicotine content of all cigarettes sold in the United States.
The current study by Donny and colleagues adds to a growing literature supporting the feasibility and potential benefits of a national nicotine reduction policy& explained public health policy reform advocates, Drs. Michael Fiore andTimothy Baker in a companion article in the same issue of the NEJM. Reducing the nicotine content of combustible tobacco to levels that will not sustain dependence seems to us to be the most promising regulatory policy option for preventing [at least] 20 million premature deaths.
About 22nd Century Group, Inc.
22nd Century Group is a plant biotechnology company focused on technology which allows it to increase or decrease the level of nicotine in tobacco plants through genetic engineering and plant breeding. The Companys mission is to reduce the harm caused by smoking. 22nd Century currently owns or exclusively controls more than 185 issued patents and more than 50 pending patent applications around the world. The Companys strong IP position led to a licensing agreement with British American Tobacco (BAT), the worlds second largest tobacco company. Visit www.xxiicentury.com for more information.
Cautionary Note Regarding Forward-Looking Statements: This press release contains forward-looking information, including all statements that are not statements of historical fact regarding the intent, belief or current expectations of 22nd Century Group, Inc., its directors or its officers with respect to the contents of this press release. The words may, would, will, expect, estimate, anticipate, believe, intend and similar expressions and variations thereof are intended to identify forward-looking statements. We cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events or circumstances, or to reflect the occurrence of unanticipated events. You should carefully review and consider the various disclosures made by us in our annual report on Form 10-K for the year ended December 31, 2014, filed on February 6, 2015, including the section entitled Risk Factors, and our other reports filed with the U.S. Securities and Exchange Commission which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected.
