22nd Century Group Inc (XXII)

[Reeves]

I would hope a more detailed announcement is on the horizon to provide clarity to what exactly is being researched. My guess is we should hear this announcement when they make their scheduled payment that was mentioned in the 10k.

Upon certain milestones to be achieved by the Investee, which are expected prior to September 30, 2014, the Company will make an additional investment in the Investee in the amount of $450,000 in return for (i) an additional fifteen percent (15%) equity interest in the Investee, and (ii) a worldwide license agreement to the Intellectual Property, including an exclusive license agreement within the U.S. In addition, upon the achievement of the milestones, the Company will grant 150,000 shares of the Company’s common stock to the Investee.