Lucide Ledger

A filing-first public record from Lucide House.

Issue 005 | U.S. Pilot | US

XXII

22nd Century Group, Inc.

Screen state: Passing Source state: Verified 10-Q | 2026-05-07 Filing currency: USD
Open Filing Back to Register Report a correction
Internal NCAV Discount 72.4%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets
21,070,000USD
Total Liabilities
9,092,000USD
NCAV
11,978,000USD
Cash
9,545,000USD
NCAV per share
15.56USD/share
Evidence
10 annual | 20 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Evaluated
12
Triggered
2
Unavailable
7
Requires inspection Negative OCF -3,103,000
Latest
-3,103,0002026-03-31
Comparison
n/a
Change
n/a

Basis: latest reporting-period cash from operations < 0

Source periods: SEC 10-Q 2026-03-31 · 0001104659-26-056615

Supporting observation Current Ratio > 1.5 2.67
Latest
2.672026-03-31
Comparison
1.5
Change
n/a

Basis: current assets / current liabilities; strong if > 1.5

Source periods: SEC 10-Q 2026-03-31 · 0001104659-26-056615

7 unavailable checks — inspect missing inputs
High Debt (short-term debt + long-term debt) / ordinary equity >= 50%
Low Debt (short-term debt + long-term debt) / ordinary equity < 20%
Material 1Y Share Increase 1Y share change >= +2% using the same share-count source
NCAV Growing equivalent prior-year NCAV change >= +2%; both NCAV values must be positive
No Material 1Y Share Increase 1Y share change > -2% and <= +1% using the same share-count source
Non-Positive Equity ordinary shareholders equity <= 0
Share Count Reduced 1Y share change <= -2% using the same share-count source

Business Profile

Published only when a substantive filing-text profile has been prepared for this issue.

Not available for this issue.

A substantive filing-text profile was not prepared for this company. Financial statement evidence and filing links remain available above for direct inspection.

Share Count & Per-Share Comparability

Historical values can be viewed as reported in each filing or normalized to the latest verified split basis. These are measurement aids, not conclusions about a company.

Policy: normalize_to_latest_verified_split_basis | quality: verified

Display basis

Verified split events: reverse 12.0 on 2020-12-31; reverse 28.0 on 2021-10-28; reverse 15.0 on 2023-07-05; reverse 12.0 on 2023-08-08; reverse 2.0 on 2024-01-24; reverse 16.0 on 2024-04-02; reverse 135.0 on 2024-12-17; reverse 23.0 on 2025-06-20

Known Unknowns

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric
2025-12-31
10-K
USD
2024-12-31
10-K
USD
2023-12-31
10-K
USD
2022-12-31
10-K
USD
2021-12-31
10-K
USD
2020-12-31
10-K
USD
2019-12-31
10-K
USD
2018-12-31
10-K
USD
2017-12-31
10-K
USD
2016-12-31
10-K
USD
Revenue 17,587,000 24,382,000 32,204,000 62,111,000 30,948,000 28,111,000 25,832,530 26,426,347 16,600,244 12,279,979
Operating Income -11,566,000 -13,950,000 -44,931,000 -57,106,000 -28,412,000 -19,183,000 -23,566,461 -24,018,627 -13,299,864 -11,387,847
Net Income -5,054,000 -15,164,000 -140,775,000 -59,801,000 -32,609,000 -19,711,000 -26,558,544 -7,966,911 -13,029,117 -11,581,430
Cash From Operations -7,723,000 -14,345,000 -54,987,000 -51,714,000 -22,839,000 -15,621,000 -14,587,364 -17,844,266 -12,068,383 -9,887,580
Capex -61,000 -141,000 -4,656,000 -3,657,000 -745,000 -54,000 -527,330 -448,639 -1,156,906 -197,229
Free Cash Flow -7,784,000 -14,486,000 -59,643,000 -55,371,000 -23,584,000 -15,675,000 -15,114,694 -18,292,905 -13,225,289 -10,084,809
Cash And Equivalents 7,149,000 4,422,000 2,058,000 2,205,000 1,336,000 1,029,000 485,111 604,925 3,659,534 13,468,188
Accounts Receivable 3,594,000 1,698,000 1,671,000 5,641,000 585,000 2,159,000 866,860 871,293 957,066 40,992
Inventory 4,326,000 2,015,000 4,346,000 10,008,000 2,881,000 2,034,000 2,266,304 3,043,949 3,282,537 3,092,686
Total Current Assets 17,631,000 11,522,000 16,277,000 44,605,000 54,385,000 28,341,000 42,743,498 61,197,526 67,621,455 16,797,435
Total Assets 27,023,000 21,673,000 27,503,000 114,651,000 75,954,000 51,694,000 68,951,365 77,302,136 79,739,406 27,642,357
Total Current Liabilities 7,272,000 9,962,000 25,034,000 13,018,000 8,427,000 7,343,000 5,780,380 5,173,544 4,313,206 3,249,317
Total Liabilities 8,531,000 17,661,000 35,914,000 18,676,000 9,880,000 7,584,000 6,900,543 6,021,761 4,313,206 3,307,998
Shareholders Equity 15,758,000 4,012,000 -8,410,000 95,975,000 66,074,000 44,110,000 62,050,822 71,280,375 75,426,200 24,334,359
Shares Outstanding 510,384 730,148 43,525,862 215,238,198 162,872,875 139,061,690 138,362,809 124,642,593 123,569,367 90,698,113
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 184,067 146,392 20,711,000 192,837,000 156,208,000 138,813,000 125,882,717 124,298,981 101,161,380 79,842,773
Weighted Avg Shares Basic 184,067 146,392 20,711,000 192,837,000 156,208,000 138,813,000 125,882,717 124,298,981 101,161,380 79,842,773
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence 313.0% -0.0% 0.1% 1106.1% 11.0% 0.9% 36.2% Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence -75.8% 0.0% -0.1% -91.7% -9.9% -0.9% -26.6% Insufficient evidence
Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Metric
2026-03-31
10-Q
USD
2025-12-31
10-K
USD
2025-09-30
10-Q
USD
2025-06-30
10-Q
USD
2025-03-31
10-Q
USD
2024-12-31
10-K
USD
2024-09-30
10-Q
USD
2024-06-30
10-Q
USD
2024-03-31
10-Q
USD
2023-12-31
10-K
USD
2023-09-30
10-Q
USD
2023-06-30
10-Q
USD
2023-03-31
10-Q
USD
2022-12-31
10-K
USD
2022-09-30
10-Q
USD
2022-06-30
10-Q
USD
2022-03-31
10-Q
USD
2021-12-31
10-K
USD
2021-09-30
10-Q
USD
2021-06-30
10-Q
USD
Revenue 4,105,000 3,537,000 4,011,000 4,083,000 5,956,000 4,020,000 5,946,000 7,947,000 6,469,000 -30,996,000 17,811,000 23,427,000 21,962,000 19,206,000 19,383,000 14,477,000 9,045,000 7,960,000 7,811,000 8,371,000
Operating Income -3,039,000 -2,803,000 -3,212,000 -2,981,000 -2,570,000 -4,092,000 -3,377,000 -2,047,000 -4,434,000 63,727,000 -71,482,000 -19,353,000 -17,823,000 -23,216,000 -15,268,000 -10,476,000 -8,146,000 -9,032,000 -7,569,000 -6,640,000
Net Income -3,261,000 -2,808,000 5,489,000 -3,407,000 -4,328,000 -4,556,000 -3,757,000 -1,112,000 -5,739,000 -29,334,000 -72,720,000 -20,539,000 -18,182,000 -26,283,000 -13,102,000 -11,498,000 -8,918,000 -13,965,000 -9,440,000 -4,174,000
Cash From Operations -3,103,000 2,749,000 -4,018,000 -3,478,000 -2,976,000 -4,398,000 -2,977,000 -4,715,000 -2,255,000 -4,803,000 -12,852,000 -19,832,000 -17,500,000 -19,066,000 -12,896,000 -11,824,000 -7,928,000 -4,632,000 -5,937,000 -8,359,000
Capex -40,000 -16,000 -6,000 -29,000 -10,000 0 -70,000 -64,000 -7,000 -705,000 -1,192,000 -849,000 -1,910,000 -1,156,000 -1,319,000 -924,000 -258,000 -275,000 -82,000 -288,000
Free Cash Flow -3,143,000 2,733,000 -4,024,000 -3,507,000 -2,986,000 -4,398,000 -3,047,000 -4,779,000 -2,262,000 -5,508,000 -14,044,000 -20,681,000 -19,410,000 -20,222,000 -14,215,000 -12,748,000 -8,186,000 -4,907,000 -6,019,000 -8,647,000
Cash And Equivalents 9,545,000 7,149,000 4,846,000 3,083,000 1,133,000 4,422,000 5,341,000 1,279,000 1,517,000 2,058,000 2,850,000 4,433,000 10,952,000 2,205,000 2,364,000 2,668,000 1,584,000 1,336,000 1,629,000 2,037,000
Total Current Assets 21,070,000 17,631,000 22,923,000 11,868,000 11,095,000 11,522,000 15,763,000 13,484,000 13,713,000 16,277,000 40,616,000 36,875,000 41,138,000 44,605,000 64,401,000 44,680,000 44,982,000 54,385,000 62,174,000 70,714,000
Total Liabilities 9,092,000 8,531,000 11,263,000 16,753,000 17,833,000 17,661,000 22,706,000 25,044,000 36,240,000 35,914,000 50,401,000 52,388,000 42,779,000 18,676,000 21,088,000 20,018,000 8,508,000 9,880,000 7,441,000 9,796,000
Shares Outstanding 769,788 510,384 n/a 458,650 2,733,232 730,148 29,378,321 9,272,518 3,600,935 43,525,862 21,078,656 15,926,803 217,057,927 215,238,198 215,301,603 197,661,566 164,536,566 162,872,875 162,735,483 162,685,483
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 595,344 184,067 11,888,488 250,368 1,729,212 146,392 13,507,441 7,449,706 3,165,237 20,711,000 19,887,000 14,900,000 215,784,000 215,293,033 210,131,000 182,004,000 163,157,000 162,767,033 162,721,000 154,811,000
Weighted Avg Shares Basic 595,344 184,067 3,541,337 250,368 1,729,212 146,392 13,507,441 7,449,706 3,165,237 20,711,000 19,887,000 14,900,000 215,784,000 215,293,033 210,131,000 182,004,000 163,157,000 162,767,033 162,721,000 154,811,000
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence 286.0% Insufficient evidence Insufficient evidence 216.8% 157.5% 32.4% 313.0% 32.3% 1220.8% 0.8% -0.0% 8.9% 20.1% 1.0% 0.1% 2700.9% 17.0%
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence -74.1% Insufficient evidence Insufficient evidence -68.4% -61.2% -24.5% -75.8% -24.4% -92.4% -0.8% 0.0% -8.2% -16.8% -1.0% -0.1% -96.4% -14.5%
Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input Value Source concept Filing period Confidence Provenance
Current Assets 21,070,000USD us-gaap:AssetsCurrent 2026-03-31 1.00 Data Vault | sec/companyfacts/cik=0001347858/companyfacts.json
Data Vault | sec/companyfacts/cik=0001347858/companyfacts.json
Total Liabilities 9,092,000USD us-gaap:Liabilities 2026-03-31 1.00 Data Vault | sec/companyfacts/cik=0001347858/companyfacts.json
Data Vault | sec/companyfacts/cik=0001347858/companyfacts.json
Cash 9,545,000USD us-gaap:CashAndCashEquivalentsAtCarryingValue 2026-03-31 1.00 Data Vault | sec/companyfacts/cik=0001347858/companyfacts.json
Data Vault | sec/companyfacts/cik=0001347858/companyfacts.json
Shares Outstanding 769,788 us-gaap:CommonStockSharesOutstanding 2026-03-31 1.00 Data Vault | sec/companyfacts/cik=0001347858/companyfacts.json
Data Vault | sec/companyfacts/cik=0001347858/companyfacts.json
NCAV 11,978,000USD derived 2026-03-31 n/a company-evidence-v1 | total_current_assets - total_liabilities
NCAV per share 15.56USD derived 2026-03-31 n/a company-evidence-v1 | NCAV / shares_outstanding
Internal NCAV Discount 72.4% derived 2026-03-31 n/a gnni_publication_pack | internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / shares_outstanding

Source Provenance

Data Source
Data Vault
Data Vault Root
Local evidence | The Data Vault
CIK
0001347858
Company ID
n/a
Selected Annual Source
Data Vault | sec/companyfacts/cik=0001347858/companyfacts.json
Selected Quarterly Source
Data Vault | sec/companyfacts/cik=0001347858/companyfacts.json
Statement Extractor
companyfacts-screener-v1
View Extractor
companyfacts-screener-v1
Source Accession Count
26
Imported At
2026-08-15T12:53:05+00:00
Rendered At
2026-08-16T03:30:00+00:00

Run Audit

Mary Run
062cd84c6cec4533b9bb580392e1f3bf
Mary As Of
2026-08-07
Accession
0001104659-26-056615
CIK
0001347858
Mary Filing Date
2026-05-07
Filing Currency
USD
Internal Discount
72.4%
Source State
Verified
Market Context
Not Displayed
Market Policy
internal_only_not_redistributed
Share Trend
Not Evaluated
Dilution
Needs Review

mary_run=062cd84c6cec4533b9bb580392e1f3bf; mary_as_of=2026-08-07; mary_filing_date=2026-05-07; mary_accession=0001104659-26-056615; mary_cik=0001347858; gnni_supporting_filing_date=2026-05-07; internal_discount=0.724295; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.

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