22nd Century Group Inc (XXII)

[time2shine]

Here is the complete re-cap from via the large shareholder:

Annual Meeting was held this weekend in Buffalo...Here's the re-cap:

China:

China remains a top priority of the company as the revenue opportunities in China for 2016 and beyond are quite substanstial. There are a lot of regulatory hurdles that need to be overcome and the CFO is currently in the process of setting up the bank account in Honk Kong and the WOFE to move forward with the next steps of the JV.

Modified Risk/FDA:

Brand A FDA submission for modified risk hopefully by end of the summer. Brand B is still a priority, but will cost more money and take longer to submit than Brand A. Also expect the company to get more data soon from an 800 patient FDA trial that used XXII's low-nic cigarettes as well as possible Spectrum sales to NIH/FDA in 2015.

X-22:

Recent visit to Japan, China and Europe looking for JV partners for X-22. Pharmaceutical and Nutraceutical companies have expressed interest. Goal would be to get $10-20mil of non-dilutive financing to pay for the phase 3 trial.

Red Sun:

About 170 stores listed on Red Sun page, but Henry feels like it's probably closer to 300 and growing as they do not always get exact locations from the distributors. http://www.redsuncigarettes.com/locations/ More distributors to be announced in the coming weeks/months. Grass roots marketing effort to build the next "American Spirits" brand.

Magic:

0.0mg Cigarettes launched in Europe helped the stock double over the past 2 weeks. 900 stores in Spain, expected to be 2000+ by year end. In addition to Magic, they also have Magic 2 (80% less nicotine) for those who want to cut back but not eliminate nicotine. http://www.businesswire.com/news/home/20150416005797/en/22nd-Century-Group-Announces-Launch-%E2%80%9C0.0-mg#.VT2Fc5NnZoM
Several new European and Asian countries should be carrying the product in 2015.

Contract Manufacturing:

Plant in NC continues to produce proprietary brands as well as Smoker Friendly and private label brands. Expect more contracts as well as export opportunities in 2015.

IR/PR/Media:

IRTH Communications was at the annual meeting and they will be actively marketing the company and the products. http://www.irthcommunications.com/ Expect to see Henry on non-deal road shows, at conferences (LD MICRO in LA in June), and live on TV (Fox Business news in April and CNBC in May)