Replies to post #30279 on 22nd Century Group Inc (XXII)

[fitter]

I believe they said they had enough money till June. They probably got it done now rather than at the point where they have to take what's offered to them.

[NKerf]

I see 3 possible reasons:

1) They are spending more than they expected to by this point in the year (could be good or bad)

2) They aren't getting some revenue that they are expecting (bad)

3) They need cash immediately for some new project or to pursue a new deal (probably good).


They said before on a couple of occasions that they have enough capital to operate at least halfway through the 2016 year, so I'm assuming something came up that was an unexpected expense (1 or 3).