XXII — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-14

• ●Gross loss for the second quarter of 2026 was a loss of $293 compared to a loss of $635 in the prior year period, reflecting write-off of aged inventory discontinued by our customers of $196, offset by a one-time adjustment to excise taxes of $692.

• ●On August 13, 2026, the Company entered into an amendment with the holders of all of the outstanding June 2026 Inducement Warrants whereby the exercise price was reduced to $0.3675 and to allow all of the June 2026 Inducement Warrants to be exercised on a cashless basis. Following the amendment, al…

• Three Months Ended June 30, 2026 Compared to Three Months Ended June 30, 2025

• Six Months Ended June 30, 2026 Compared to Six Months Ended June 30, 2025

• Net loss per common share from continuing operations (basic and diluted)

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• ●Gross loss for the first quarter of 2026 was a loss of $636 compared to a loss of $609 in the prior year period.

• Three Months Ended March 31, 2026 Compared to Three Months Ended March 31, 2025

• For the first quarter and three months ended March 31, 2026, total product line revenues decreased to $4,105 from $5,956, respectively, compared to the prior year period, as follows:

• ●For the first quarter of 2026, cigarette volume decreased to 118 cartons due to our strategic shift away from high volume and low priced CMO export customers as compared to the prior year period, which accounted for 252 cartons, and lower on-hand finished good inventory of 48 cartons.

• ●For the first quarter of 2026, filtered cigars net revenues decreased to $873 from the prior comparable period, reflecting lower volumes as the Company implemented repricing of customer contracts and shifts its product mix into higher margin branded cigarettes, including natural styles, and VLN® ci…

Text added vs the prior filing · source: 10-Q · 2026-08-14

• Nasdaq may delist our common stock from trading on its exchange, which could limit investors’ ability to make transactions in our common stock, reduce the liquidity of our common stock and materially impair our ability to raise the additional capital necessary to continue our operations.

• Our common stock is currently listed on the Nasdaq Capital Market (“Nasdaq”). To maintain that listing, we must satisfy Nasdaq’s continued listing requirements, including requirements relating to the minimum bid price of our common stock, the market value of our listed securities, stockholders’ equi…

• Under Nasdaq Listing Rule 5550(a)(2), the closing bid price of our common stock generally must be at least $1.00 per share. If the closing bid price is below $1.00 per share for 30 consecutive business days, Nasdaq may notify us that we no longer comply with the minimum bid-price requirement. Althou…

• Nasdaq has adopted a continued listing requirement that requires companies listed on the Nasdaq Capital Market to maintain a minimum market value of listed securities (“MVLS”) of at least $5 million. Under the rule, if a company’s MVLS remains below $5 million for 30 consecutive business days, Nasda…

• During the past two years, we have received deficiency letters from the Nasdaq Listing Qualifications Department notifying us that we were not in compliance with certain Nasdaq continued listing requirements. Although we addressed those deficiencies and regained compliance, our prior compliance does…