More Than 200 New Retail Accounts to Stock RED SUN Premium Cigarettes
22nd Century Group, Inc. (NYSE MKT:XXII), a leader in tobacco harm reduction, announced today that Rich & Rhine Inc., an important tobacco products distributor based in Portland, Oregon, has agreed to stock and promote RED SUN cigarettes. Starting June 1, 2015, Rich & Rhine will effectively double RED SUN’s retail base by placing RED SUN in more than 200 of its top independently-owned retail accounts.
“Rich & Rhine is a great company with top notch sales representatives. During my tenure at Santa Fe Natural, I witnessed, first hand, the tremendous success of Rich & Rhine in growing super-premium cigarette sales in the northwest part of the United States,” explained Henry Sicignano III, President and Chief Executive Officer of 22nd Century Group. “We are very pleased to count Rich & Rhine as a RED SUN customer and strategic partner.”
To maximize the impact of the RED SUN roll-out across Portland and Seattle, Rich & Rhine is targeting retail stores that enjoy the highest percentage of premium cigarette sales – a customer base that closely matches the RED SUN target market.
“Rich & Rhine has a great deal of experience with premium, all-natural cigarettes like the American Spirit brand,” said Ron Squires, Sales Manager for Rich & Rhine Distributors. “RED SUN is a rich, flavorful cigarette. Not unlike the early days of American Spirit, RED SUN looks to have tremendous appeal with progressive Portland and Seattle smokers. We are very excited to partner with 22nd Century to bring such a novel product to our independent-minded customer base.”
check the news item:
2015 Marcum MicroCap Conference
Location: Grand Hyatt, 109 East 42nd St, New York, NY 10017
Date: May 27-28, 2015
5th Annual LD Micro Invitational
Location: Luxe Sunset Blvd Hotel, 11461 Sunset Blvd, Los Angeles, CA 90049
Date: June 1-3, 2015
ChairmanoftheBored Tuesday, 05/12/15 08:53:21 PM
22nd Century Group Gets a Second (and longer-lasting) Wind 22nd Century Group Inc (NYSEMKT XXII) is back on its horse, and this time the ride could last a while
By Bryan Murphy
May 12, 2015 8:18:25 AM PDT
If you were waiting on the right time to wade into a 22nd Century Group Inc. (NYSEMKT:XXII) trade, today is it. Having fully cooled off from a red-hot runup that unfurled in the latter half of last month, today's uptick from XXII likely marks the beginning of a new uptrend. And this time, it may last longer than the prior effort did.
22nd Century Group is the developer of low-nicotine tobacco that's ultimately meant to be used by people looking to quit smoking. By weaning themselves from the chemical addiction without simultaneously forcing them to kick the physical habit, XII circumvents the difficulty of the cold-turkey approach.
The rally that materialized for XXII beginning back on April 16th was spurred by news that it had launched its MAGIC brand of 0.0 mg nicotine cigarettes in Spain, marking the onset of its first revenue from its smoking-cessation venture.
As could have been expected, the news drove 22nd Century Group shares higher for a few days, but once the stock reached a peak of $1.55 on April 24th, the market remembered it still had no real idea what the advent of the MAGIC line really meant to XXII in terms of corporate results. Down the stock went, until more clarity was offered.
That clarity was offered today, and the market likes what it sees... assuming the 19% pop from XXII this morning is any indication of how traders feel.
The clarity: 22nd Century Group generated revenue of $616,000 during its first quarter, which it believes paves the way for more than $5 million in sales for the full year once production ramps up to full speed. It's an encouraging turnaround from no revenue in the previous quarter, and only about half a million bucks worth of revenue
Inp30, your hunch may be correct that it was the weed company law suit. However, my recollection is that the weed company had not only no technology or ethics, but also no assets. So it's not clear to me that they would be capable of coming up with the $1 million and that suggests some other entity is the source of the actual funds, FWIW.
FWIW, Henry was asked to comment on the source of these $1 million funds and he said that for legal reasons he was not able to provide any information about who was the defendant who had to up the $1 mil. Nor did Henry say anything about the nature of the settlement. For me, what comes to mind as the first possible source of those funds, is of course, Joe Pandolfino who, due to having allegedly failed to meet requirements of his employment, may have been required to return certain funds XXII Century previously paid Joe.
22nd Century Group Files First Quarter 2015 Financial Results And Announces Conference Call to Provide Business Update
CLARENCE, N.Y.--(BUSINESS WIRE)--
22nd Century Group, Inc. (NYSE MKT:XXII) announced today that the Company filed its first quarter 2015 report on Form 10-Q with the U.S. Securities and Exchange Commission and will provide a business update for investors on a conference call to be held Tuesday, May 12th at 10:00 AM (EDT).
Henry Sicignano III, President and Chief Executive Officer of 22nd Century Group, together with John T. Brodfuehrer, Chief Financial Officer, will conduct the call. Interested parties are invited to participate in the call by dialing: 877-852-6583 and using Conference ID 7352193.
For those who have not watched this short "Street Talk" clip with Brian Sullivan and Melissa Lee, they identified it as an under-the-radar stock, cited the Piper Jaffery target of $28, gave 2 reasons for the doubling of revenue (expanded sales force and expanded medical coverage) and Melissa concluded by praising its product as healing chronic wounds with cryo-preserved placental tissue, i.e. organic material. I thought they did o.k. and somebody believed the story because immediately there were a lot of buys which extended the momentum generated by the post-earning conference call.
Henry did a great job responding to Varney's ignorance and bigotry, despite the fact that Henry had but three minutes to get his message across. Varney is a disgrace to humanity and fits right in with Fox's other ideologues who are high on opinion, low on knowledge, and who have no interview skills. Was it all pontification by Varney? He displayed the same bigotry and ignorance in interviewing the prior guest who Varney attempted to use as a tool to beat up on the Pope as a "socialist."and that guest's intelligence also stood out in contrast to Varney's brutally dim mind.
“Varney & Co” Segment Moved to Wednesday, April 29, 2015 at 12:50 p.m. EDT
22nd Century Group, Inc. (NYSE MKT: XXII), a leader in very low nicotine tobacco technology and tobacco harm reduction, today announced that due to the extensive coverage of the ongoing Baltimore unrest, the previously announced interview of 22nd Century’s President and Chief Executive Officer, Henry Sicignano III, by Stuart Varney of Fox Business’ “Varney & Co” has been moved from today to Wednesday, April 29, 2015 at 12:50 p.m. EDT.
Depends on his/her motivation, for example a very personal need to nurture the inner drama queen? need for a bio-break? need to go to another appointment? a yearly ritual? an indirect vote to make JP's departure appear rational? needed a cigarette break? Beats me.
Another ASM attendee, sxdcfv posted:
sxdcfv Member Level Saturday, 04/25/15 07:19:17 PM
Re: tombrady12nh post# 24541
Post # of 24579
About 170 stores listed on Red Sun page, but Henry feels like it's possibly closer to 270-300 as they do not always get exact locations product is distributed to.
900 in Spain, expects thousands by year end. In addition to Magic, they also have Magic 2 (%80 nicotine) for those who want to cut back but not eliminate nicotine.
Chipping away at China, lots of regulatory headwinds (as expected).
Brand A still a priority.
FDA submission for modified risk hopefully by end of summer.
Recent visit to Japan, Holland, one other I think...obviously working hard to put product on shelves.
Magic Pamphlet distributed.
According to the company, there is no live feed for broadcasting the meeting. Nor is there any archive audio of the ASM. We who don't attend will have to rely on the kindness of attendees to give us a report of the more important announcements, if any. TIA
I've not seen anything in print suggesting there has been mediation between XXII and the X-CEO Joe Pandolfino. There has been reported mediation between XXII and Charles Brink who reportedly tried to sell XXII his company which was subsequently assessed by XXII to have no assets or value. To the contrary, XXII's suit against Joe, based on the belief that there were about 70 counts of seeming violations of his employee agreement, was just announced.
Ch47, appreciate your info sharing; recently wasn't there a currency disruption involving the Swiss Franc and Euro? If so, has that exchange rate issue settled and if so, what impact did it have on the price of VentureTech? thanks.
As a non-lawyer, my understanding is that some time back, under XXII's previous administration, they entered into a contract with a marijuana company run by Charles Brink in which the latter purported to have certain assets which Brinks offered for sale to XXII. Brink was then sued by XXII in a FL court for breach of contract (seems they had no assets to speak of) and both parties just settled in late March via mediation and the case is completely finished. Each company now has 150 days to write up their individual report. I don't know of any specifics as to whether or not there were payments of damages or other charges. Here's the brief notice below:
22nd Century Group, Inc. v. Brink et al
Court Florida Middle District Court
Judge Steven D Merryday
Nature of Suit Contract - Other Contract
Cause 28:1332 Diversity-Breach of Contract
Case # 8:14-cv-02546
Filed Oct 08, 2014
ast updated: Friday Apr 10, 2015 12:06 AM EDT
Thursday, April 09, 2015
41 MEDIATION report Hearing held on March 26, 2015. Hearing outcome: The case has been completely settled. The parties separately will file a notice of settlement which will request 150 days (in lieu of the normal 60) within which to file their joint dismissal pursuant to Local Rule 3.08(b).. (Grilli, Peter)
Yep. We expect to be there again. Always interesting.
From Monday's Buffalo News: From the buffalo news:
Updated Mon, Apr 06, 2015 06:31 PM EDT
The 22nd Century Group appointed Nathan Schmitt director of marketing and special projects. Schmitt, a graduate of Cornell University, was previously director of marketing at Reid Petroleum. Also, the company named Karen Goss tax compliance manager. Goss holds an MBA from the University at Buffalo. She was formerly tax compliance manager at Smokin Joes.
dream...90 IMO your conspiratorial theory of the company manipulating the stock price is very imaginative and off the mark; the business and future plans of OSIRIS are tighter than a Swiss watch because why should they tip off their competitors? Their Chair and President seems to have a clear set of boundaries and priorities which makes the "keep the stock price low" theory be without any basis in real life.
Saw at the end of the day on 17 March OSIR notified the SEC that it will be filing its report late. Any clue what that might be about? See below:
Notification That Annual Report Will Be Submitted Late (nt 10-k)
Date : 03/17/2015 @ 4:01PM
Source : Edgar (US Regulatory)
Stock : Osiris Therapeutics, Inc. (MM) (OSIR)
Quote : 18.42 0.22 (1.21%) @ 9:54AM
Notification That Annual Report Will Be Submitted Late (nt 10-k)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
NOTIFICATION OF LATE FILING