XXII on Nasdaq

22nd Century Group, Inc.

American cigarettes company that raised $98.4 million in 2024 (SEC Form D). Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

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  • TickerXXII on Nasdaq2
  • IndustryCigarettes2
  • HeadquartersCarson City, United States2
  • Incorporated inFL3
  • Business address8560 Main Street, Suite 4, Williamsville, In 142213
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI5493000LGPXTLG1UMJ562
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered address112 NORTH CURRY STREET, 89703 Carson City, United States2
  • Registered withBusiness Center (Secretary of State), E0607512005-32

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22nd Century Group, Inc. is a tobacco products company that enables cigarette smokers to take control of their consumption of nicotine, the addictive drug in cigarettes. We manufacture and distribute the only combustible tobacco products containing minimally or non-addictive levels of nicotine that are authorized by the US Food and Drug Administration (FDA) for retail purchase. We also provide turnkey contract manufacturing of cigarettes and filtered cigars for other established tobacco brands.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-65.8%Operating margin5
-28.7%Net margin5
-27.9%Revenue growth, 20255
-32.1%Return on equity5
0.04×Debt to equity5
-$7.8MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Cigarettes brought in 73% of the revenue 22nd Century Group, Inc. broke down this way in fiscal 2025.

  1. Cigarettes$12.9M573%down 9% from 2024
  2. Filtered Cigars$4.1M523%down 56% from 2024
  3. Other Tobacco Products$442.0K53%down 42% from 2024
  4. VLN$138.0K51%up 790% from 2024
Products and services by year
Products and services20242025
Cigarettes$14.2M$12.9M
Filtered Cigars$9.4M$4.1M
Other Tobacco Products$756.0K$442.0K
VLN-$20.0K$138.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue55¢$10.2M
  • Research and development4¢$688.0K
  • Selling, general and admin41¢$7.6M
  • Income tax0¢$28.0K

Out of $17.6M in revenue.5 The company lost money this year.

Financial statements

Revenue6785$17.6M in 2025−32% since 2019
0$20.0M$40.0M$60.0M2019: $25.8M$25.8M20192020: $28.1M$28.1M2020+9%2021: $30.9M$30.9M2021+10%2022: $40.5M$40.5M2022+31%2023: $32.2M$32.2M2023−20%2024: $24.4M$24.4M2024−24%2025: $17.6M$17.6M2025−28%
Operating income678105-$11.6M in 2025−51% since 2019
-$60.0M-$40.0M-$20.0M02019: -$23.6M-$23.6M20192020: -$19.2M-$19.2M2020−19%2021: -$28.4M-$28.4M2021+48%2022: -$33.6M-$33.6M2022+18%2023: -$44.9M-$44.9M2023+34%2024: -$13.9M-$13.9M2024−69%2025: -$11.6M-$11.6M2025−17%
Net income678105-$5.1M in 2025−81% since 2019
-$150.0M-$100.0M-$50.0M02019: -$26.6M-$26.6M20192020: -$19.7M-$19.7M2020−26%2021: -$32.6M-$32.6M2021+65%2022: -$59.8M-$59.8M2022+83%2023: -$140.8M-$140.8M2023+135%2024: -$15.2M-$15.2M2024−89%2025: -$5.1M-$5.1M2025−67%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Revenues, net$17.6M$24.4M
Cost of goods sold$10.2M$14.3M
Excise taxes and fees on products$10.5M$12.5M
Gross loss-$3.1M-$2.4M
Sales, general and administrative$7.6M$10.3M
Research and development$688.0K$1.1M
Other operating expense, net$150.0K$130.0K
Total operating expenses$8.4M$11.6M
Operating loss from continuing operations-$11.6M-$13.9M
Other income (expense), net-$207.0K$507.0K
Interest income$83.0K$72.0K
Interest expense-$1.5M-$2.1M
Total other income (expense), net-$1.6M-$1.5M
Loss from continuing operations before income taxes-$13.1M-$15.5M
(Benefit) provision for income taxes-$28.0K$30.0K
Net loss from continuing operations-$13.1M-$15.5M
Income from discontinued operations before income taxes$8.1M$331.0K
Income from discontinued operations$8.1M$331.0K
Net loss-$5.1M-$15.2M
Comprehensive loss-$5.1M-$15.2M
Deemed dividends-$4.7M-$10.3M
Net loss available to common shareholders-$9.7M-$25.5M
Basic loss per common share from continuing operations (in dollars per share)-$71-$27.8K
Basic income per common share from discontinued operations (in dollars per share)$44$595
Basic loss per common share from deemed dividends (in dollars per share)-$25.42-$18,493.32
Basic loss per common share (in dollars per share)-$52.87-$45,711.05
Diluted loss per common share from continuing operations (in dollars per share)-$71-$27.8K
Diluted income per common share from discontinued operations (in dollars per share)$44$595
Diluted loss per common share from deemed dividends (in dollars per share)-$25.42-$18,493.32
Diluted loss per common share (in dollars per share)-$52.87-$45,711.05
Weighted average shares outstanding - basic (in shares)184.1K shares557 shares
Weighted average shares outstanding - diluted (in shares)184.1K shares557 shares

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Leadership

Who has led 22nd Century Group, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Nanuk Warman2010
  2. Ronald Asirwatham2010
  3. Joseph Pandolfino2011–2014
  4. Henry Sicignano Iii.2016–2018
  5. Clifford B. Fleet2019
  6. James A. Mish2020–2023
  7. Lawrence Firestone2023–now

President

  1. Nanuk Warman2010
  2. Henry Sicignano Iii.2011–2018
  3. Clifford B. Fleet2019
  4. Michael Zercher2019–2022

Chief financial officer

  1. Nanuk Warman2010
  2. Ronald Asirwatham2010
  3. Charles Anthony Rider2011–2012
  4. Henry Sicignano Iii.2012–2014
  5. John T. Brodfuehrer2013–2019
  6. Andrea S. Jentsch2019–2020
  7. John Franzino2020–2021
  8. Richard F. Fitzgerald2021–2022
  9. Robert Hugh Kinsman2022–2023
  10. Daniel A. Otto2024–now

Chief operating officer

  1. Henry Sicignano Iii.2015
  2. Michael Zercher2019–2022
201520202025
Board members and other officers (27)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerStaffeldt P. Jonathan named Apr 19, 2024 to Oct 4, 202455
  • Executive OfficerJohn Miller named Apr 19, 202456
  • Executive OfficerHugh A. Kinsman named Jul 29, 202257
  • Executive OfficerSteven A. Przybyla named May 27, 2022 to Jul 29, 202257

Former names

  • Touchstone Mining LTDDec 27, 2005 to Nov 2, 20103

Timeline

  1. Dec 8, 2023New chief executive Lawrence Firestone becomes CEO14
  2. Jun 23, 2020New chief executive James A. Mish becomes CEO15
  3. Aug 9, 2019New chief executive Clifford B. Fleet becomes CEO16
  4. Jan 27, 2016New chief executive Henry Sicignano Iii. becomes CEO17
  5. Feb 4, 2011New chief executive Joseph Pandolfino becomes CEO18
  6. Nov 29, 2010New chief executive Ronald Asirwatham becomes CEO20
  7. Sep 22, 2010New chief executive Nanuk Warman becomes CEO19
  8. Sep 11, 2005Founded 22nd Century Group, Inc. is founded2

Filings

339 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 107 major events, 63 insider forms, 32 large holders, 5 private raises, 110 other. The latest 20:

  1. Sep 1, 20268-K EDGAR
  2. Aug 25, 2026SCHEDULE 13G EDGAR
  3. Aug 20, 2026SCHEDULE 13G EDGAR
  4. Aug 20, 2026SCHEDULE 13G EDGAR
  5. Aug 14, 2026S-8 EDGAR
  6. Aug 14, 2026424B3 EDGAR
  7. Aug 14, 2026SCHEDULE 13G/A EDGAR
  8. Aug 14, 202610-Q EDGAR
  9. Aug 13, 20268-K EDGAR
  10. Aug 5, 20268-K EDGAR
  11. Jul 2, 20268-K EDGAR
  12. Jun 26, 2026424B3 EDGAR
  13. Jun 24, 2026EFFECT EDGAR
  14. Jun 23, 2026DEF 14A EDGAR
  15. Jun 12, 2026PRE 14A EDGAR
  16. Jun 12, 2026S-3 EDGAR
  17. Jun 11, 20268-K EDGAR
  18. Jun 9, 20268-K/A EDGAR
  19. Jun 9, 20268-K EDGAR
  20. May 7, 20268-K EDGAR

The 339 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

7 open-market trades by officers, directors and large owners since October 2021: 4 buys and 3 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 12, 2024FIRESTONE LAWRENCEChief Executive OfficerBuy39,000$0.27$10.5KForm 4
May 30, 2024FIRESTONE LAWRENCEChief Executive OfficerBuy9,000$1.09$9.8KForm 4
Jan 5, 2024Arno AndrewDirectorBuy100,000$0.17$17.0KForm 4
Jan 4, 2024FIRESTONE LAWRENCEChief Executive OfficerBuy100,000$0.17$17.0KForm 4
Aug 31, 2022ZERCHER MICHAELPresident and COOSale370,789$1.35$500.6KForm 4
Jun 14, 2022FRANZINO JOHNChief Administrative OfficerSale20,324$1.69$34.3KForm 4
Dec 14, 2021ZERCHER MICHAELPresident and COOSale23,147$2.16$50.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Sep 27, 2024Raised $1.2 million in a private offering of equity Form D: 7 investors so far Form D
  2. Apr 8, 2024Raised $4.2 million in a private offering of equity Form D: 9 investors so far Form D
  3. Jul 21, 2022Raised $35 million in a private offering of equity Form D: 14 investors so far Form D
  4. May 13, 2022Raised $58 million in a private offering of equity Form D: 64 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Anson Funds Management LP34,565$140.0K0.0%New
UBS Group AG3,208$13.0K0.0%New
Barclays PLC164$6640.0%New
Osaic Holdings, Inc.8$320.0%New
Morgan Stanley7$280.0%New
Fifth Third Bancorp2$80.0%New
Steward Partners Investment Advisory, LLC2$80.0%New
Integrated Wealth Concepts LLC2$80.0%New
Truvestments Capital LLC2$80.0%New
Kilter Group LLC1$50.0%New
Wells Fargo & Company/mn1$40.0%New
NewEdge Advisors, LLC1$40.0%New
IFP Advisors, Inc1$40.0%New
Gables Capital Management Inc.1$40.0%New
Caitong International Asset Management Co., Ltd1$40.0%New
BlackRock, Inc.1$40.0%New

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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