Business Context and Reporting Period
This Form 8-K was filed by 22nd Century Group, Inc. on January 6, 2016. The filing serves as a Regulation FD disclosure regarding updated revenue expectations for the fiscal year ending December 31, 2016.
Key Financial Metrics
The filing provides preliminary revenue guidance but does not contain historical financial data for the current or prior periods.
- 2016 Revenue Expectation: At least $12 million from product sales.
- Profit, Cash Flow, Margins, Debt, Liquidity: The filing text does not provide clear values for these metrics.
Material Changes
The company reports a significant upward revision in its revenue outlook:
- The projected revenue of at least $12 million for 2016 represents a 50% increase compared to the company's recently issued expectations for 2015.
Guidance, Outlook, and Risks
Management Commentary: The company preliminarily expects to generate revenues of at least $12 million for the year ending December 31, 2016.
Risks and Contingencies: The filing includes a standard cautionary note regarding forward-looking statements. Management states that actual results may vary materially from projections due to risks and uncertainties. The company explicitly states it does not intend to update these forward-looking statements to reflect actual results or later events except as required by law. Investors are directed to review the "Risk Factors" section of the 2014 Form 10-K for detailed risk disclosures.
Investor Verification Checklist
- Verify the specific revenue figures for 2015 that serve as the baseline for the 50% increase claim.
- Review the 2014 Form 10-K (filed February 5, 2015) for detailed risk factors affecting the business.
- Monitor future filings for actual 2016 revenue results to compare against the $12 million preliminary expectation.
- Confirm if any other financial metrics (profitability, cash flow) have been updated in subsequent reports, as they are absent here.