XXII — what changed in the latest 10-Q
A section-by-section comparison of XXII's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-07 vs the prior 10-Q · 2025-11-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +32 | −34 | ~12 | 7 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 2 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-07
All historical share and per-share amounts reflected throughout this section have been adjusted to reflect prior reverse stock splits. The par value per share of our common stock was not affected.
All figures reported below reflect continuing operations, excluding discontinued operations related to the sale and exit of the Company’s hemp/cannabis business in late 2023, except as noted.
Dollars are in thousands, except per share data or unless otherwise specified.
oFirst quarter 2026 cartons sold of 275 compared to 476 in the comparable prior year period, primarily due to our strategic shift away from high volume and low priced CMO export customers. .
●Operating loss from continuing operations for the first quarter 2026 was $3,039, compared to a loss of $2,570 in the prior year period, primarily as a result of decreased revenue and volume.
Text removed vs the prior filing · source: 10-Q · 2025-11-04
On April 2, 2024, we implemented a 1-for-16 reverse stock split, on December 17, 2024, we implemented a 1-for-135 reverse stock split, and on June 20, 2025, we implemented a 1-for-23 reverse stock split. All historical share and per-share amounts reflected throughout this section have been adjusted …
oThird quarter 2025 cartons sold of 517 compared to 439 in the comparable prior year period.
oOther operating expense (income), net increased to $111, compared to $2 in the prior year period, due to the impairment of patents in the current year period.
●Operating loss from continuing operations for the third quarter 2025 was $3,212, compared to a loss of $3,377 in the prior year period, primarily as a result of decreased revenue and volume.
●Net loss from continuing operations in the third quarter of 2025 was $3,763 and basic and diluted loss from continuing operations per common share was $1.06 compared with net loss from continuing operations in the third quarter of 2024 of $3,585, and basic and diluted net loss from continuing opera…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice