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The first thing they need to deliver on is name a CEO. This headless horseman is going nowhere but back into his tree.
Mission is to reduce the harm from smoking. So let's sell our safer cigarettes at a premium price at only small smoke shops and mom and pops, making them less accessible to people. Huh? Not to mention the joke of a website.
Anyone else see it as a red flag that they still don't have a partner for x-22 phase 3? If they're so successful at helping people quit, you'd think pharmaceutical companies would be chomping at the bit.
I don't trust China at all. If they like the technology, rather than signing a deal I would almost expect them to just buy xxii. This way if the FDA ever did decide to force nicotine down, everyone would have to go to China for the tech. I don't WANT to see this happen to an American company but it's China for crying out loud.
I'm most likely and hopefully wrong about everything here. Frustration is high, faith is low.
I don't know if it would have made a difference, but I still believe they should have waited for NASDAQ. They want to be identified as a bio-tech company, not just another tobacco company, yet they list where all the tobacco companies are instead of tech companies. I guess the understanding of that decision is beyond my pay grade.
This stock defies logic. That is all.
Clarence is one of the most affluent suburbs of Western New York and it's obviously nowhere near Rochester. Homes in Spaulding Lake many of us could only dream of owning. XXII offices are right next door. It's a beautiful area, I hardly think it's a problem. Fellow WNY'ers can attest to this.
Do I believe she can? Yes. Do I believe she will? No idea. If she's waiting for some revenue numbers and/or China, we've got quite a ways to go here. It's a long term hold of course, but quite frankly that website shook mine and obviously a few more shareholders confidence just a bit.
Bonnie could turn this around 180 degrees with a few paragraphs. Guess she doesn't want to take away the "buying opportunity." Give me a break. I would love to know who, as an investor or potential investor, looks at the red sun website and thinks - "yes! I need to get on board with that!" Whether XXII realizes it or not, that site is going to be a reflection on how investors will view the people leading this company. Yes, Red Sun won't be the major revenue driver for them, more like supplemental income, but man...this is not a good start IMO. Rant over.
I find the red sun website and the general design of Red Sun packaging very frustrating. A safer, revolutionary premium cigarette whose packaging looks like something that could be picked up on "the reservation." The website looks like it was thrown together by a 13-year-old who likes the dos equis commercials. The attempt at humor comes off as low brow idiotic, yet this brand is supposed to appeal to high-end clientele? I'm sorry, I just don't see it. I continue to back the company and still expect good things in the future, but this first step at attaining significant revenue seems like it will be hindered by very odd marketing decisions. I certainly hope I'm wrong.
I do feel for those who bought at $3+...but you know the primary reason you did was because a former CEO over promised and gave false timelines. He's out, and the company is in better hands now. MSA took 8 months longer than we wanted it to and they're literally shipping as we speak here, and you're looking to bail now? Odd indeed but to each their own I suppose. At the very least if I were that down on this stock I'd give it another 8 months due to the MSA delay. But that's just me.
I wouldn't mention that it was around this time last year that XXII began the epic run to 6. That, IMO, was purely due to hoping for MSA in Q1 and uplisting, and not to mention Joe consistently saying institutions were just waiting for us to uplist. Circumstances are different this time, much better fundamentally for long term growth, but I wouldn't expect to see a run like that again. Hope I'm wrong of course, hope China shows up quick followed immediately by a WF recommendation and big $ comes flying in....but I'm not holding my breath that it'll occur before April.
Every time I look at Chardan's valuation of XXII and their price target...it always comes with the language of red sun and magic reaching revenues of $142 million and $55 million respectively by 2023 as part of their "sum of the parts" estimate. It also includes X-22 out there on the market. Right now they're still looking for a pharmaceutical partner for phase 3 for X-22. So all this talk of why Chardan hasn't budged on their target seems odd to me, because I read it as it should at least be $9 by 2023. So to not change up a PT that's several years away doesn't seem strange at all IMO. Maybe I'm reading this all wrong though, and I'd welcome a correction in thinking.
The MSA delay was the killer IMO. If it had occurred back in Q1 we would've had a quarter or two of revenue to report and the entire business plan wouldn't have been delayed so much. The uplisting run was inflated, yes, but we probably wouldn't be sitting here watching it bleed this far if MSA didn't take 8 months longer than they/we thought.
I expected a massive marketing campaign as soon as MSA was achieved, since everything was "purposely curtailed" due to waiting for MSA. Get smokers excited about a new premium product so they'd be asking for them daily. Now it feels like the packs could be sitting on the shelves and it'll be up to the store employees to push them, if we're supposedly shipping them out essentially as we speak. In the grand scheme of things China dwarfs the US market, and X-22 and modified risk brands would be much bigger revenue drivers anyway. But still, it would be nice to see Red Sun and Magic do even better than Santa Fe. Time will tell.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 25, 2014, the Board of Directors of 22nd Century Group, Inc. (the “Company”) terminated the employment agreement of Joseph Pandolfino, the Company's Chairman of the Board and Chief Executive Officer, pursuant to Section 4.2 (Termination by the Company Without Cause) of Mr. Pandolfino's Employment Agreement, dated as of January 25, 2011. As a result, the Company will pay Mr. Pandolfino severance payments as provided in his Employment Agreement. On that same date, the Company's Board of Directors (i) appointed Henry Sicignano, III, the current President of the Company, to also be the Chief Operating Officer of the Company, (ii) appointed the Company's lead independent director, James Cornell, to be the new Chairman of the Board of Directors of the Company, and (iii) formed an Executive Committee of the Board, consisting of the existing independent directors of the Company of James Cornell (Chair of the Executive Committee), Richard Sanders and Joseph Dunn, to assist the management of the Company until the Board completes its search for and selection of a new Chief Executive Officer of the Company. Mr. Pandolfino remains as a member of the Board of Directors of the Company. The Company and Mr. Pandolfino are discussing his possible employment with the Company as its new Chief Technology Officer.
Oh man...Joe's out. Now what? This is definitely going to get worse before it gets better. I trust Henry's abilities but this will not be viewed positively by the market.
I'm also not trying to be negative, but I don't see how we hit $9 by EOY. Chardan's initial buy recommendation stated that their target was based on obtaining MSA Q1 2014 and generating approx. $142 million in annual revenue for Red Sun. It also assumed BAT turning the research license into a commercial license. Well, we haven't heard anything from BAT for over a year now, and MSA took almost 8 months longer than we all thought. I would love to see $9 by year end, and I know it doesn't factor MJ or Asia JV, and I know Chardan continues to reiterate the target, but I'm thinking this target is definitely going to be delayed a bit, mostly because of the MSA delay. I hope I'm wrong, just being cautiously optimistic. We'll get there, I just don't see it happening in 2 months time. Then again, we ran from 2 to over 6 in what felt like a couple weeks so what do I know. Go XXII.
This is sickening. These aren't gift prices, these are throw up all over yourself prices. I know, the market in general is taking it on the chin, but for a supposedly still "unknown" company....yikes.
Forgive my ignorance, but I don't quite understand the "well there's just no revenue" talk. They just received MSA last month and just started shipping this month. They're making the SF brand. They're getting things situated in Europe. And now we're looking at an Asia JV. Well...I get that packs don't materialize on shelves overnight,..but come on now...this is all revenue isn't it? I feel like watching this stock right now is like watching a 3-year-old pounding his fist on the table and whining because mom didn't produce the chocolate pudding within 3 milliseconds of him asking for it.
I'm no Mr. Spock, but that seems highly illogical.
Transparency, thy name is LionsTact.
From the $10mil placement PR:
“The proceeds from this private placement will greatly strengthen our balance sheet. Further, the funds will facilitate several R&D catalysts as well as the achievement of revenue-generating milestones,” explained John T. Brodfuehrer, 22nd Century’s CFO. He added, “I expect the coming months to be very exciting for our shareholders.”
Let the story continue to unfold or get out.
Guys, anyone at the last Annual meeting or any previous meeting could tell you these are Henry's usual mannerisms. Relax.
We need to send the 22nd Century Group Facebook page some love. It's pretty dead over there.
" Mr. Saintsing added, “In addition to the products the factory is already manufacturing, we are in discussions with a half dozen other parties to contract manufacture additional brands, including some brands for export."
Keep 'em coming!
What? Is that not realistic enough? Lol just kidding. I'm liking the news! Go xxii! MSA next!!
Eat it, geo-whatever. $35 today?
I don't know what's worse, the hit piece, or the sheer amount of people who believe and react to it like this.
Posts #14531 thru #14535 were really under-appreciated comic relief. Still laughing.
I get those crazyjoys "alerts" coming through my BlackBerry (ya, I know) Stocks app news feed all the time. They don't seem to carry any major significance from what I can tell.
I don't believe there is any religion out there that would require praising tobacco Jesus on a magic flying carpet, but I would still like to convert to it.
Yesterday's news. Ihub a little slow to report.
Why is ihub so slow to post news?
http://finance.yahoo.com/news/patents-granted-22nd-century-group-114800644.html
Over the past 60 days, company has presented at several cities, added huge US patents, signed LOI to make product in Europe, and hired CRO to work with FDA. I mean, they haven't exactly been sitting around saying "woe is me" waiting on MSA. I've been holding this stock for 3.5 years now and not getting impatient here. Let them continue to build a solid foundation before they raise the roof, which I believe isn't far off in the grand scheme of things. Go XXII.
Maybe Joe and Henry are making a bid to buy the Bills. Call it 22nd Century Stadium. No offense to Ralph.
Perhaps perker can confirm the Sierra post.
Ha.
Exactly. Eom
Free shares of an IPO between $1 and $7 for every 41 shares of fwdg you own, which is currently .032. Are people brain dead or what.
Wow someone liked 2.56
Technically speaking, I'm about ready for that magic carpet ride.