22nd Century Group Inc (XXII)

[gilbe]

Ok, I think there is some confusion here with regard to the warrants. As of the Sep 30 2015 (last 10-q) there are 16.6M in outstanding warrants. Of those 16.6M, about 6.8M have an expiration of 1/25/2016 and range in exercise price. The table below is difficult to read, but will give you the detail on the warrants set to expire on today. It looks like the vast majority of them will not hit the exercise price.

Basically, it looks like ~400k of the 1/25 warrants will be able to be exercised based on the current share price. The rest of the 6.8M will expire worthless.

Warrant Description Amount Price Expiration
January 2011 PPO $3.00 warrants 2,817,952 $2.20 25-Jan-16
January 2011 PPO $3.00 warrants 653,869 $2.00 25-Jan-16
January 2011 PPO $3.00 warrants 3,062,665 $1.96 25-Jan-16
January 2011 PPO $1.50 warrants 292,965 $1.27 25-Jan-16
January 2011 PPO $1.50 warrants (1)37,177 $1.20 25-Jan-16
January 2011 PPO $1.50 warrants 62,329 $1.20 25-Jan-16
January 2011 PPO $1.50 warrants 10,831 $1.17 25-Jan-16