22nd Century Group Inc (XXII)

[Lnp30]

Short and sweet --

- Pando was former CEO - genius who thought up a no nicotine cig back when bio genetics first started in the 90s

- Got company extremely far but others in xxii wanted to monetize IP and Joe wanted to keep developing IPs (side note and my opinion...the NARA institute in Japan has a patent out there for coffee which I believe is the same concept of the MJ and Cig IP and maybe what he wanted to develop -- xxii states on their website they have ties/relationship with NARA and worked with them in the past -- coffee currently doesn't actually have a true "decafe" and the caffine varies amongst different "decafe" retailers/sellers)

- Joe, while clearly extremely smart, was NOT a good speaker. He made me cringe every time he spoke. Lots of "ums" and "ahhs". Granted he probably had to be VERY careful about what he said on record...he had already been sued by big tobacco once. But what would take a good speaker a couple seconds to phrase, it took Joe significantly longer in my opinion and came off not very confident due to the ums and ahhs. There was an interview where the interviewer clearly wanted Henry to speak and Joe kept jumping in. A lot more could have been accomplished in the interview had Henry talked...my opinion

- Joe went rogue against board and had disagreed with board on things and did some questionable things -- may have used xxii to fund his other business, alternative cigs. Xxii fires Joe in October 2014 I think. Joe sues, xxii counter sues back. Been tied up ever since

A couple others:

- Joe sold shares when we spiked above $5 in 2014 which didn't make a lot of people happy

- Joe settled in court back in early 90s when he was a grad student for mailing letters to to investors saying the two stocks will go up big on a certain date. My opinion -- Some want to dwell on that but he was a money hungry grad student. Not only that, stock message boards didn't exist back then, and what goes on today on these message boards (and this one to this day) is much like what Joe had done in the 90s. The whole stock market is a Ponzi scheme pumped up on hopes and dreams (mine included :) )

If I missed anything or got anything wrong please feel free to correct me. I think it's important for new investors to know this stuff.