22nd Century (XXII) 10-Q 13 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 10, 2024
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-36338
Entity Registrant Name	22nd Century Group, Inc.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	98-0468420
Entity Address, Address Line One	321 Farmington Road
Entity Address, City or Town	Mocksville
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27028
City Area Code	716
Local Phone Number	270-1523
Title of 12(b) Security	Common Stock, $0.00001 par value
Trading Symbol	XXII
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,272,518
Entity Central Index Key	0001347858
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,279	$ 2,058
Accounts receivable, net	2,448	1,671
Inventories	2,664	4,346
Insurance recoveries	3,768	3,768
GVB promissory note	500	2,000
Prepaid expenses and other current assets	1,767	1,180
Current assets of discontinued operations held for sale	1,058	1,254
Total current assets	13,484	16,277
Property, plant and equipment, net	3,093	3,393
Operating lease right-of-use assets, net	1,769	1,894
Intangible assets, net	5,728	5,924
Other assets	15	15
Total assets	24,089	27,503
Current liabilities:
Notes and loans payable - current	877	543
Current portion of long-term debt	1,500	5,848
Operating lease obligations	245	231
Accounts payable	3,893	4,445
Accrued expenses	884	1,322
Accrued litigation	3,768	3,768
Accrued payroll	300	883
Accrued excise taxes and fees	2,510	2,234
Deferred income	389	726
Other current liabilities	309	1,849
Current liabilities of discontinued operations held for sale	1,397	3,185
Total current liabilities	16,072	25,034
Long-term liabilities:
Operating lease obligations	1,571	1,698
Long-term debt	6,046	8,058
Other long-term liabilities	1,355	1,123
Total liabilities	25,044	35,914
Commitments and contingencies (Note 12)
Shareholders' equity (deficit)
Preferred stock, $.00001 par value, 10,000,000 shares authorized
Common stock, par value
Capital in excess of par value	384,603	370,297
Accumulated deficit	(385,558)	(378,707)
Total shareholders' deficit	(955)	(8,410)
Total liabilities and shareholders' deficit	$ 24,089	$ 27,503

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
CONDENSED CONSOLIDATED BALANCE SHEETS
Preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	9,272,518	2,720,437
Common stock, shares outstanding	9,272,518	2,720,437

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue:
Revenues, net	$ 7,947	$ 8,050	$ 14,416	$ 16,977
Cost of goods sold (exclusive of depreciation shown separately below):
Cost of goods sold	3,869	4,682	8,082	9,407
Excise taxes and fees on products	3,508	4,329	6,893	8,514
Gross (loss) profit	570	(961)	(559)	(944)
Operating expenses:
Sales, general and administrative	2,360	10,283	5,266	20,119
Research and development	250	799	675	1,529
Other operating expense (income), net	7		(19)	(146)
Total operating expenses	2,617	11,082	5,922	21,502
Operating loss from continuing operations	(2,047)	(12,043)	(6,481)	(22,446)
Other income (expense):
Other income (expense), net	339	(613)	339	(768)
Interest income, net	21	65	21	122
Interest expense	(501)	(1,071)	(1,517)	(1,399)
Total other expense	(141)	(1,619)	(1,157)	(2,045)
Loss from continuing operations before income taxes	(2,188)	(13,662)	(7,638)	(24,491)
Provision for income taxes	26	46	26	46
Net loss from continuing operations	(2,214)	(13,708)	(7,664)	(24,537)
Discontinued operations:
Income (loss) from discontinued operations before income taxes	1,102	(6,831)	813	(14,184)
Net income (loss) from discontinued operations	1,102	(6,831)	813	(14,184)
Net loss	(1,112)	(20,539)	(6,851)	(38,721)
Deemed dividends	(445)	(367)	(4,034)	(367)
Net loss available to common shareholders	$ (1,557)	$ (20,906)	$ (10,885)	$ (39,088)
Basic loss per common share from continuing operations (in dollars per share)	$ (0.30)	$ (15.61)	$ (1.44)	$ (28.46)
Diluted loss per common share from continuing operations (in dollars per share)	(0.30)	(15.61)	(1.44)	(28.46)
Basic loss per common share from discontinued operations (in dollars per share)	0.15	(7.78)	0.15	(16.45)
Diluted loss per common share from discontinued operations (in dollars per share)	0.15	(7.78)	0.15	(16.45)
Earnings Per Share, Deemed Dividends, Basic (in dollars per share)	(0.06)	(0.42)	(0.76)	(0.43)
Earnings Per Share, Deemed Dividends, Diluted (in dollars per share)	(0.06)	(0.42)	(0.76)	(0.43)
Basic loss per common share (in dollars per share)	(0.21)	(23.81)	(2.05)	(45.34)
Diluted loss per common share (in dollars per share)	$ (0.21)	$ (23.81)	$ (2.05)	$ (45.34)
Weighted average common shares outstanding - basic (in shares)	7,449,706	878,171	5,307,471	862,177
Weighted average common shares outstanding - diluted (in shares)	7,449,706	878,171	5,307,471	862,177
Net loss	$ (1,112)	$ (20,539)	$ (6,851)	$ (38,721)
Other comprehensive income:
Unrealized gain on short-term investment securities		10		71
Foreign currency translation		42		38
Reclassification of realized losses to net loss		28		41
Other comprehensive income		80		150
Comprehensive loss	$ (1,112)	$ (20,459)	$ (6,851)	$ (38,571)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands		Common Shares Outstanding ATM	Common Shares Outstanding	Capital in Excess of Par Value ATM	[1]	Capital in Excess of Par Value	[1]	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Deficit	Cumulative Effect, Period of Adoption, Adjustment	ATM	Total
Beginning balance at Dec. 31, 2022						$ 333,900		$ (111)		$ (237,814)			$ 95,975
Beginning balance (in shares) at Dec. 31, 2022	[1]		843,731
Stock issued in connection with RSU vesting, net of shares withheld for taxes						(414)							(414)
Stock issued in connection with RSU vesting, net of shares withheld for taxes (in shares)	[1]		5,644
Stock issued in connection with acquisition						503							503
Stock issued in connection with acquisition (in shares)	[1]		1,941
Equity-based compensation						1,175							1,175
Equity detachable warrants						1,577							1,577
Other comprehensive loss								70					70
Net loss										(18,182)			(18,182)
Ending balance at Mar. 31, 2023						336,741		(41)	$ (118)	(256,114)	$ (118)		80,586
Ending balance (in shares) at Mar. 31, 2023	[1]		851,316
Beginning balance at Dec. 31, 2022						333,900		(111)		(237,814)			95,975
Beginning balance (in shares) at Dec. 31, 2022	[1]		843,731
Other comprehensive loss													150
Net loss													(38,721)
Ending balance at Jun. 30, 2023						349,206		39		(276,653)			72,592
Ending balance (in shares) at Jun. 30, 2023	[1]		942,348
Beginning balance at Mar. 31, 2023						336,741		(41)	$ (118)	(256,114)	$ (118)		80,586
Beginning balance (in shares) at Mar. 31, 2023	[1]		851,316
Stock issued in connection with RSU vesting, net of shares withheld for taxes						(5)							(5)
Stock issued in connection with RSU vesting, net of shares withheld for taxes (in shares)	[1]		1,534
Stock issued in connection with licensing arrangement						3,570							3,570
Stock issued in connection with licensing arrangement (in shares)	[1]		20,834
Equity-based compensation						1,486							1,486
Stock issued in connection with capital raise				$ 2,563		4,851						$ 2,563	4,851
Stock issued in connection with capital raise (in shares)	[1]	17,783	46,753
Fractional shares issued for reverse stock split	[1]		4,128
Other comprehensive loss								80					80
Net loss										(20,539)			(20,539)
Ending balance at Jun. 30, 2023						349,206		39		$ (276,653)			72,592
Ending balance (in shares) at Jun. 30, 2023	[1]		942,348
Beginning balance at Dec. 31, 2023						370,297		(378,707)					(8,410)
Beginning balance (in shares) at Dec. 31, 2023	[1]		2,720,437
Stock issued in connection with RSU vesting, net of shares withheld for taxes						(1)							(1)
Stock issued in connection with RSU vesting, net of shares withheld for taxes (in shares)	[1]		3,810
Stock issued in connection with licensing arrangement						100							100
Stock issued in connection with licensing arrangement (in shares)	[1]		11,480
Stock issued in connection with warrant exercises						2,245							2,245
Stock issued in connection with warrant exercises (in shares)	[1]		747,001
Equity-based compensation						181							181
Fractional shares issued for reverse stock split	[1]		118,207
Net loss								(5,739)					(5,739)
Ending balance at Mar. 31, 2024						372,822		(384,446)					(11,624)
Ending balance (in shares) at Mar. 31, 2024	[1]		3,600,935
Beginning balance at Dec. 31, 2023						370,297		(378,707)					(8,410)
Beginning balance (in shares) at Dec. 31, 2023	[1]		2,720,437
Net loss													(6,851)
Ending balance at Jun. 30, 2024						384,603		(385,558)					(955)
Ending balance (in shares) at Jun. 30, 2024	[1]		9,272,518
Beginning balance at Mar. 31, 2024						372,822		(384,446)					(11,624)
Beginning balance (in shares) at Mar. 31, 2024	[1]		3,600,935
Stock issued for extinguishment of Subordinated Note						3,864							3,864
Stock issued for extinguishment of Subordinated Note (in shares)	[1]		1,150,000
Stock issued upon conversion of Senior Secured Credit Facility	[2]					2,756							2,756
Stock issued upon conversion of Senior Secured Credit Facility (in shares)	[1],[2]		1,575,000
Stock issued in connection with settled indebtedness						1,192							1,192
Stock issued in connection with settled indebtedness (in shares)	[1]		700,958
Stock issued in connection with warrant exercises (in shares)	[1]		265,625
Equity-based compensation						56							56
Stock issued in connection with capital raise	[3]					3,913							3,913
Stock issued in connection with capital raise (in shares)	[1],[3]		1,980,000
Net loss								(1,112)					(1,112)
Ending balance at Jun. 30, 2024						$ 384,603		$ (385,558)					$ (955)
Ending balance (in shares) at Jun. 30, 2024	[1]		9,272,518
[1] Giving retroactive effect to the 1-for-15 reverse stock split on July 5, 2023 and subsequent 1-for-16 reverse stock split on April 2, 2024. Includes exercises of 980,000 shares of prefunded warrants during the period ended June 30, 2024. Includes exercises of 125,000 shares of prefunded warrants during the period ended June 30, 2024.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) (Parenthetical) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	Mar. 31, 2023 shares	Jun. 30, 2024 shares
Stock issuance costs | $	$ 324		$ 422
Stock issuance cost of warrant exercises | $		$ 176
Shares withheld for taxes | shares		405		1,976
Prefunded Warrants | Senior Secured Credit Facility
Stock issued in connection with warrant exercises (in shares) | shares					980,000
ATM
Stock issuance costs | $			$ 178
Offering | Prefunded Warrants
Stock issued in connection with warrant exercises (in shares) | shares					125,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net loss	$ (6,851)	$ (38,721)
Adjustments to reconcile net loss to cash used in operating activities:
Amortization and depreciation	514	2,093
Amortization of right-of-use asset	125	524
Other non-cash losses	(947)	18
Provision for credit losses	7	154
Loss on the sale of machinery and equipment	65	75
Debt related charges included in interest expense	1,674	1,100
Equity-based employee compensation expense	237	2,661
Gain on change of contingent consideration		(195)
Change in fair value of warrant liabilities	(324)	723
Change in fair value of derivative liability	(459)
Increase in inventory reserves	431
Changes in operating assets and liabilities, net of acquisition:
Accounts receivable	(784)	(3,322)
Inventories	1,251	(4,285)
Prepaid expenses and other assets	(548)	(2,178)
Accounts payable	24	2,257
Accrued expenses	(437)	2,066
Accrued payroll	(583)	(774)
Accrued excise taxes and fees	276	1,280
Other liabilities	(641)	(808)
Net cash used in operating activities	(6,970)	(37,332)
Cash flows from investing activities:
Acquisition of patents, trademarks, and licenses		(398)
Acquisition of property, plant and equipment	(71)	(2,759)
Proceeds from the sale of property, plant and equipment	22	251
Acquisition, net of cash acquired		90
Property, plant and equipment insurance proceeds		3,500
Sales and maturities of short-term investment securities		21,714
Purchase of short-term investment securities		(3,475)
Net cash (used in) provided by investing activities	(49)	18,923
Cash flows from financing activities:
Payments on notes payable	(924)	(3,954)
Proceeds from issuance of notes payable	1,256	2,218
Payments of long-term debt	(249)
Proceeds from issuance of long-term debt		16,849
Payment of debt issuance costs		(801)
Proceeds from issuance of detachable warrants		6,016
Net proceeds from warrant exercise	2,245
Taxes paid related to net share settlement of RSUs	(1)	(420)
Net cash provided by financing activities	6,240	27,322
Net (decrease) increase in cash, cash equivalents and restricted cash	(779)	8,913
Cash, cash equivalents and restricted cash at beginning of period	2,058	3,020	$ 3,020
Cash, cash equivalents and restricted cash at end of period	1,279	11,933	2,058
Reconciliation of cash and cash equivalents and restricted cash
Cash and cash equivalents at beginning of period	2,058	3,020	3,020
Cash, cash equivalents and restricted cash at beginning of period	2,058	3,020	3,020
Cash and cash equivalents at end of period	1,279	4,433	2,058
Restricted cash at end of period		7,500
Cash, cash equivalents and restricted cash at end of period	1,279	11,933	$ 2,058
Non-cash transactions:
Capital expenditures incurred but not yet paid	25	64
Right-of-use assets and corresponding operating lease obligations		4,803
Deemed dividends	4,034	367
Stock issued in connection with settled indebtedness	1,192
Non-cash consideration RXP acquisition		1,926
Non-cash licensing arrangement		3,500
Payment for extinguishment of Subordinated Note	3,864
Payment of GVB Promissory Note	1,500
Payment of debt issuance costs	275
Equity conversion of Senior Secured Credit Facility	2,481
ATM
Cash flows from financing activities:
Proceeds from issuance of common stock		2,741
Payment of common stock issuance costs		(178)
Registered Direct Offering
Cash flows from financing activities:
Proceeds from issuance of common stock	4,237	5,273
Payment of common stock issuance costs	$ (324)	$ (422)

NATURE OF BUSINESS AND SUMMARY

NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1. - NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Century Group” or the “Company”) is a Nevada corporation publicly traded on the NASDAQ Capital Market under the symbol “XXII.” 22nd Century Group is a tobacco products company with sales and distribution of the Company’s own proprietary new reduced nicotine tobacco products authorized as Modified Risk Tobacco Products by the FDA. Additionally, the Company provides contract manufacturing services for conventional combustible tobacco products for third-party brands. ​ The accompanying Condensed Consolidated Financial Statements are presented in accordance with the rules and regulations of the United States ("U.S.") Securities and Exchange Commission ("SEC") and do not include all of the disclosures required by U.S. generally accepted accounting principles (“U.S. GAAP”) as contained in the Company’s Annual Report on Form 10-K. Accordingly, these Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company’s most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2023. ​ In the opinion of management, the Condensed Consolidated Financial Statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the results of the Company for the periods presented. The results for interim periods are not necessarily indicative of results or trends that may be expected for the fiscal year as a whole. The Condensed Consolidated Financial Statements were prepared using U.S. GAAP, which require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, certain components of equity, sales, expenses, and related disclosures at the date of the financial statements and during the reporting period. Actual results could differ materially from these estimates. Liquidity and Capital Resources – The Company has incurred significant losses and negative cash flows from operations since inception and expects to incur additional losses until such time that it can generate significant revenue and profit in its tobacco business. The Company had negative cash flow from operations of $6,970 and $37,332 for the six months ended June 30, 2024 and 2023, respectively, and an accumulated deficit of $385,558 and $378,707 as of June 30, 2024 and December 31, 2023, respectively. As of June 30, 2024, the Company had cash and cash equivalents of $1,279. Given the Company’s projected operating requirements and its existing cash and cash equivalents, there is substantial doubt about the Company’s ability to continue as a going concern through one year following the date that the Condensed Consolidated Financial Statements are issued. In response to these conditions, management is currently evaluating different strategies for reducing expenses, as well as pursuing financing strategies which include raising additional funds through the issuance of securities, asset sales, and through arrangements with strategic partners. If capital is not available to the Company when, and in the amounts needed, it could be required to liquidate inventory, cease or curtail operations, or seek protection under applicable bankruptcy laws or similar state proceedings. There can be no assurance that the Company will be able to raise the capital it needs to continue operations. Management’s plans do not alleviate substantial doubt about the Company’s ability to continue as a going concern through one year following the date that the Condensed Consolidated Financial Statements are issued. ​ The Condensed Consolidated Financial Statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty. Other Significant Risks and Uncertainties ​ Reclassifications ​ Reverse Stock Split 1-for-16 ​ Warrants Warrants that the Company may be required to redeem through payment of cash or other assets outside its control are classified as liabilities pursuant to ASC 480 and are initially and subsequently measured at their estimated fair values. For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of Capital in excess of par value at the time of issuance. For additional discussion on warrants, see Note 5 and Note 10. ​ Debt Issued with Detachable Warrants ​ Embedded Derivatives ​ Debt Issuance Costs and Discounts ​ Impairment of Long-Lived Assets ​ Gain and Loss Contingencies ​ In accordance with ASC 450-30, Gain Contingencies, gain contingencies are recognized when earned and realized, which typically will occur at the time of final settlement or when cash is received. Insurance recoveries may be realized earlier than cash receipt if a claim and amount of reimbursement is acknowledged by the insurance company that payment is due and collection is probable. ​ The Company maintains general liability insurance policies for its facilities. Under the terms of our insurance policies, in the case of loss to a property, the Company follows the guidance in ASC 610-30, Other Income —Gains and Losses on Involuntary Conversions ​ Refer to further discussion of all commitments and contingencies in Note 12. ​ Severance charges The following table summarizes the change in accrued severance liabilities, presented within Other current liabilities on the Condensed Consolidated Balance Sheets: ​ ​ ​ ​ ​ Balance at January 1, 2024 ​ $ 386 Cash payments ​ ​ (64) Balance at March 31, 2024 ​ ​ 322 Cash payments ​ ​ (73) Balance at June 30, 2024 ​ $ 249 ​ The following table summarizes the classification of severance charges on the Condensed Consolidated Statements of Operations and Comprehensive Loss: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 Sales, general, and administrative ​ $ — ​ $ 569 ​ $ — ​ $ 569 Total severance charges ​ $ — ​ $ 569 ​ $ — ​ $ 569 ​ ​ Income Taxes ​ Recent Accounting Pronouncements – Adoption of Accounting Standards Codification Topic 326 The Company adopted ASU 2016-13, or ASC 326 Financial Instruments-Credit Losses, effective January 1, 2023 under a modified retrospective approach. Under the current expected credit losses (“CECL”) model, the Company immediately recognizes an estimate of credit losses expected to occur over the life of the financial asset at the time the financial asset is originated or acquired. Estimated credit losses are determined by taking into consideration historical loss conditions, current conditions and reasonable and supportable forecasts. Changes to the expected lifetime credit losses are recognized each period. The new guidance applies to the Company’s trade receivables and contract asset balances. Due to the nature of business operations and contracts with customers, the Company has historically not experienced significant bad debt expense or write-offs and as a result, the adoption of ASC 326 did not have a material impact to the Company’s Condensed Consolidated Financial Statements. In connection with the adoption of ASC 326, the Company recorded a provision for credit losses of Accounting Guidance Not Yet Elected or Adopted ​ In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740)-Improvements to Income Tax Disclosures. The ASU requires additional quantitative and qualitative income tax disclosures to allow readers of the consolidated financial statements to assess how the Company’s operations, related tax risks and tax planning affect its tax rate and prospects for future cash flows. For public business entities, the ASU is effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact that the adoption of this ASU will have on its consolidated financial statements. We consider the applicability and impact of all ASUs. If the ASU is not listed above, it was determined that the ASU was either not applicable or would have an immaterial impact on our financial statements and related disclosures.

DISCONTINUED OPERATIONS AND DIV

DISCONTINUED OPERATIONS AND DIVESTITURES	6 Months Ended
	Jun. 30, 2024
DISCONTINUED OPERATIONS AND DIVESTITURES
DISCONTINUED OPERATIONS AND DIVESTITURES	NOTE 2. DISCONTINUED OPERATIONS AND DIVESTITURES As of June 30, 2024, all assets and liabilities of the former hemp/cannabis disposal group are presented as current in the Condensed Consolidated Balance Sheets. The carrying amounts of the former hemp/cannabis disposal group assets and liabilities that were classified as assets and liabilities of discontinued operations held for sale were as follows: ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2024 ​ 2023 Prepaid expenses and other current assets $ 7 ​ $ 9 Property, plant and equipment, net 1,051 ​ ​ 1,207 Other assets ​ — ​ ​ 38 Current assets of discontinued operations held for sale $ 1,058 ​ $ 1,254 ​ ​ ​ ​ ​ ​ Notes and loans payable - current $ — ​ $ 2 Operating lease obligations — ​ 1,083 Accounts payable 1,279 ​ 2,013 Accrued expenses 75 ​ 79 Deferred income ​ — ​ ​ 8 Other current liabilities ​ 43 ​ ​ — Current liabilities of discontinued operations held for sale $ 1,397 ​ $ 3,185 ​ ​ ​ ​ ​ ​ Net liabilities $ (339) ​ $ (1,931) ​ ​ Net loss from discontinued operations for the six months ended June 30, 2024 and 2023 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ June 30, ​ June 30, ​ 2024 2023 ​ 2024 2023 Revenues, net $ — ​ $ 15,377 ​ $ — ​ $ 28,412 Cost of goods sold ​ — ​ ​ 16,761 ​ ​ — ​ ​ 30,990 Gross loss ​ — ​ ​ (1,384) ​ ​ — ​ ​ (2,578) Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales, general and administrative ​ (387) ​ ​ 4,257 ​ ​ (320) ​ ​ 8,652 Research and development ​ 84 ​ ​ 994 ​ ​ 132 ​ ​ 1,781 Other operating expense, net ​ (865) ​ ​ 91 ​ ​ (766) ​ ​ 996 Total operating (income) expense ​ (1,168) ​ ​ 5,342 ​ ​ (954) ​ ​ 11,429 Operating income (loss) from discontinued operations ​ 1,168 ​ ​ (6,726) ​ ​ 954 ​ ​ (14,007) Other income (expense): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other income, net ​ — ​ ​ 17 ​ ​ — ​ ​ 38 Interest expense ​ (66) ​ ​ (122) ​ ​ (141) ​ ​ (215) Total other expense ​ (66) ​ ​ (105) ​ ​ (141) ​ ​ (177) Income (loss) from discontinued operations before income taxes ​ 1,102 ​ ​ (6,831) ​ ​ 813 ​ ​ (14,184) Provision (benefit) for income taxes ​ — ​ ​ — ​ ​ — ​ ​ — Net income (loss) from discontinued operations $ 1,102 ​ $ (6,831) ​ $ 813 ​ $ (14,184) ​ During the three- and six-month periods ended June 30, 2024, the Company settled outstanding obligations which resulted in reversals of previously accrued liabilities of $1,399 and $1,551, respectively. ​ Cash flow information from discontinued operations for the three and six months ended June 30, 2024 and 2023 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ June 30, ​ 2024 2023 Cash used in operating activities $ 867 ​ $ 49,882 Cash provided by investing activities $ 22 ​ $ 1,194 ​ ​ ​ ​ ​ ​ Depreciation and amortization $ - ​ $ 1,367 Capital expenditures $ - ​ $ 2,277 ​

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2024
INVENTORIES
INVENTORIES	NOTE 3. – INVENTORIES Inventories at June 30, 2024 and December 31, 2023 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ 2024 2023 Raw materials ​ $ 1,975 ​ $ 3,580 Work in process ​ ​ — ​ ​ — Finished goods ​ 689 ​ ​ 766 ​ ​ $ 2,664 ​ $ 4,346 ​

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	6 Months Ended
	Jun. 30, 2024
INTANGIBLE ASSETS, NET
INTANGIBLE ASSETS, NET	NOTE 4. – INTANGIBLE ASSETS, NET Intangible Assets, Net Our intangible assets, net at June 30, 2024 and December 31, 2023 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Accumulated Net Carrying June 30, 2024 Carrying Amount Amortization Amount Definite-lived: ​ ​ ​ ​ ​ ​ ​ ​ ​ Patent ​ $ 2,922 ​ $ (2,185) ​ $ 737 License fees ​ 4,165 ​ ​ (1,860) ​ ​ 2,305 Total amortizing intangible assets ​ $ 7,087 ​ $ (4,045) ​ $ 3,042 Indefinite-lived: ​ ​ ​ ​ ​ ​ ​ ​ Trademarks ​ ​ ​ ​ ​ ​ ​ $ 134 MSA signatory costs ​ ​ ​ ​ ​ ​ ​ ​ 2,202 License fee for predicate cigarette brand ​ ​ ​ ​ ​ ​ ​ ​ 350 Total indefinite-lived intangible assets ​ ​ ​ ​ ​ ​ ​ $ 2,686 Total intangible assets, net ​ ​ ​ ​ ​ ​ ​ $ 5,728 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Accumulated ​ ​ ​ Net Carrying December 31, 2023 Carrying Amount Amortization Impairment ​ Amount Definite-lived: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Patent ​ $ 2,913 ​ $ (1,622) ​ $ (487) ​ $ 804 License fees ​ 4,165 ​ ​ (1,666) ​ ​ (65) ​ ​ 2,434 Total amortizing intangible assets ​ $ 7,078 ​ $ (3,288) ​ $ (552) ​ $ 3,238 Indefinite-lived: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trademarks ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 134 MSA signatory costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,202 License fee for predicate cigarette brand ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 350 Total indefinite-lived intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 2,686 Total intangible assets, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 5,924 ​ ​ Aggregate intangible asset amortization expense comprises of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 Cost of goods sold ​ $ 2 ​ $ 3 ​ $ 5 ​ $ 6 Research and development ​ 102 ​ 162 ​ 202 ​ 320 Total amortization expense ​ $ 104 ​ $ 165 ​ $ 207 ​ $ 326 ​ Estimated future intangible asset amortization expense based on the carrying value as of June 30, 2024 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remainder of 2024 2025 2026 ​ 2027 ​ 2028 ​ Thereafter Amortization expense ​ $ 209 ​ $ 417 ​ $ 377 ​ $ 368 ​ $ 296 ​ $ 1,375 ​

FAIR VALUE MEASUREMENTS AND SHO

FAIR VALUE MEASUREMENTS AND SHORT-TERM INVESTMENTS	6 Months Ended
	Jun. 30, 2024
FAIR VALUE MEASUREMENTS AND SHORT-TERM INVESTMENTS
FAIR VALUE MEASUREMENTS AND SHORT-TERM INVESTMENTS	NOTE 5. – FAIR VALUE MEASUREMENTS AND SHORT-TERM INVESTMENTS Assets and Liabilities Measured at Fair Value on a Recurring Basis ​ Fair value measurement standards apply to certain financial assets and liabilities that are measured at fair value on a recurring basis (each reporting period). For the Company, these financial assets and liabilities include equity investments. The Company does not have any nonfinancial assets or liabilities that are measured at fair value on a recurring basis. ​ The following table presents information about our liabilities measured at fair value as of June 30, 2024 and December 31, 2023, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ June 30, 2024 ​ Level 1 Level 2 Level 3 Total Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Omnia 2024 warrants ​ $ — ​ $ — ​ $ 1,191 ​ $ 1,191 Derivative liability ​ ​ — ​ ​ — ​ ​ 98 ​ ​ 98 Total liabilities ​ $ — ​ $ — ​ $ 1,289 ​ $ 1,289 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ December 31, 2023 ​ Level 1 Level 2 Level 3 Total Liabilities ​ ​ ​ ​ Omnia 2023 warrants ​ $ — ​ $ — ​ $ 1,350 ​ $ 1,350 Derivative liability ​ — ​ — ​ 557 ​ 557 Total liabilities ​ $ — ​ $ — ​ $ 1,907 ​ $ 1,907 ​ ​ Warrants ​ The following table sets forth a summary of the changes in fair value of the Company’s common stock warrants accounted for as liabilities (Level 3) for the period ended June 30, 2024: ​ ​ ​ ​ ​ ​ Fair value measurement at January 1, 2024 ​ $ 1,350 Fair value measurement adjustment ​ ​ — Fair value measurement at March 31, 2024 ​ $ 1,350 Settlement and release (See Note 6) ​ ​ (1,350) Initial measurement (See Note 6) ​ ​ 1,515 Fair value measurement adjustment ​ ​ (324) Fair value measurement at June 30, 2024 ​ $ 1,191 ​ The Omnia warrants were measured at June 30, 2024 and December 31, 2023 using a Monte Carlo valuation model with the following assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2024 ​ 2023 ​ Omnia 2024 warrants ​ Omnia 2023 warrants Risk-free interest rate per year 4.3 % ​ 4.6 % Expected volatility per year 113.1 % ​ 90.9 % Expected dividend yield — % ​ — % Contractual expiration 4.8 years ​ 6.6 years Exercise price $ 2.14 ​ ​ $ 205.248 ​ Stock price $ 0.75 ​ ​ $ 3.04 ​ ​ The warrants are measured at fair value using certain estimated factors which are classified within Level 3 of the valuation hierarchy. Significant unobservable inputs that are used in the fair value measurement of the Company’s detachable warrants include the volatility factor, anti-dilution provisions, and contingent put option. Significant increases or decreases in the volatility factor would have resulted in a significantly higher or lower fair value measurement. Additionally, a change in probability regarding the anti-dilution provision or put option would have resulted in a significantly higher or lower fair value measurement. The Omnia 2023 warrants were extinguished and the Omnia 2024 warrants were issued in April 2024. See Note 6 for further details. ​ Derivative Liability ​ The following table sets forth a summary of the changes in fair value of the Company’s derivative liability accounted for as liabilities (Level 3) as of June 30, 2024: ​ ​ ​ ​ ​ ​ Fair value measurement at January 1, 2024 ​ $ 557 Fair value measurement adjustment ​ ​ 82 Fair value measurement at March 31, 2024 ​ $ 639 Fair value measurement adjustment ​ ​ (541) Fair value measurement at June 30, 2024 ​ $ 98 ​ ​ The derivative liability related to the debentures and embedded conversion option was measured at June 30, 2024 and December 31, 2023 using a binomial lattice valuation model under a “with and without” approach and contained the following assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2024 ​ 2023 Stock price volatility 137.3 % ​ 104.1 % Expected term 1.6 years ​ 2.2 years Stock price $ 0.75 ​ ​ $ 3.04 ​ Risk-free rate 4.8 % ​ 4.3 % Credit rating ​ CCC ​ ​ ​ CCC ​ Market yield (credit risk) ​ 19.8 % ​ ​ 13.8 % ​ ​ The debentures and derivative liability are measured at fair value using certain estimated factors which are classified within Level 3 of the valuation hierarchy. Significant unobservable inputs that are used in the fair value measurement of the Company’s derivative liability include a decrease/increase in our stock price, stock price volatility, credit rating, and simulated stock price upon conversion could significantly change the fair value measurement as either an increase or decrease. ​ Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis ​ During the three and six months ended June 30, 2024 and 2023 respectively, the Company did not have any financial assets or liabilities measured at fair value on a nonrecurring basis.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2024
DEBT
DEBT	​ NOTE 6. DEBT ​ The Company has a senior secured credit facility (the “Senior Secured Credit Facility”), which consists of Debentures (as defined below) and previously, a subordinated promissory note (the “Subordinated Note). The Debentures were issued at a 5% original issuance discount and are subject to a 5% exit payment. The Subordinated Note was extinguished in April 2024, as described below. ​ Debt related to the Senior Secured Credit Facility and Subordinate Note as of June 30, 2024 and December 31, 2023 consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2024 2023 Senior Secured Credit Facility $ 8,325 $ 11,805 Subordinated Note ​ ​ — ​ ​ 3,554 Unamortized discount on loan and deferred debt issuance costs ​ ​ (779) ​ ​ (1,453) Total debt ​ $ 7,546 ​ $ 13,906 Current portion of long-term debt ​ ​ (1,500) ​ ​ (5,848) Total long-term debt ​ $ 6,046 ​ $ 8,058 ​ ​ Debentures ​ On March 3, 2023, the Company entered into a Securities Purchase Agreement with each of the purchasers party thereto (collectively, the “Purchasers”) and JGB Collateral, LLC, as collateral agent for the Purchasers (the “Agent”) which pursuant to the agreement, the Company sold 5% original issuance discount senior secured debentures with an aggregate principal amount of $21,053. The Debentures bear interest at a rate of 7% per annum, payable monthly in arrears as of the last trading day of each month and on the maturity date. The Debentures mature on March 3, 2026. At the Company’s election, subject to certain conditions, interest can be paid in cash, shares of the Company’s common stock, or a combination thereof. The Debentures are subject to an exit payment equal to 5% of the original principal amount, or $1,053, payable on the maturity date or the date the Debentures are paid in full (the “Exit Payment”). Any time after, March 3, 2024, the Company may irrevocably elect to redeem all of the then outstanding principal amount of the Debentures for cash in an amount equal to the entire outstanding principal balance, including accrued and unpaid interest, the Exit Payment and a prepayment premium in an amount equal to 3% of the outstanding principal balance as of the prepayment date (collectively, the “Prepayment Amount”). Upon the entry into a definitive agreement that would effect a change in control (as defined in the Debentures) of the Company, the Agent may require the Company to prepay the outstanding principal balance in an amount equal to the Prepayment Amount. Commencing on March 3, 2024, at its option, the holder of a Debenture may require the Company to redeem 2% of the original principal amount of the Debentures per calendar month which amount may at the Company’s election, subject to certain exceptions, be paid in cash, shares of the Company’s common stock, or a combination thereof. The Company’s obligations under the Debentures can be accelerated upon the occurrence of certain customary events of default. In the event of a default and acceleration of the Company’s obligations, the Company would be required to pay the Prepayment Amount, liquidated damages and other amounts owing in respect thereof through the date of acceleration. ​ The Debentures contain customary representations, warranties and covenants including among other things and subject to certain exceptions, covenants that restrict the Company from incurring additional indebtedness, creating or permitting liens on assets, making or holding any investments, repaying outstanding indebtedness, paying dividends or distributions and entering into transactions with affiliates. Substantially all of the company’s assets, including intellectual property, are collateralized and at risk if Debenture obligation is not satisfied. In addition, the Company was required to maintain at least $7,500 on its balance sheet as restricted cash in a separate account and has financial covenants to maintain certain quarterly revenue targets. ​ In connection with the sale of the Debentures, the Company issued warrants to purchase up to 20,835 shares of common stock for an exercise price of $306.00 per share (the “JGB Warrants”), which had an initial fair value of $4,475 net of issuance costs of $139. On June 22, 2023, as a result of the June 19, 2023 offering, the Company’s outstanding JGB warrants to purchase up to 31,060 shares of the Company’s common stock for an exercise price of $306.00 per share were automatically adjusted to be $205.248 exercise price for up to 31,060 shares of common stock. There are no further anti-dilution adjustments on such warrants. ​ On October 16, 2023, the Company entered into a Waiver and Amendment Agreement (the “October Amendment”) with each of the subsidiaries of the Company executing the Debentures, the Holders and the Agent, pursuant to which, among other things, (a) the Holders waived an event of default under Section 7(d) of the Debentures which required the Company to achieve revenue of at least $18,500 for the quarter ended September 30, 2023 (the “waiver”), (b) the parties agreed to amend Schedule E of the Debentures to reduce the Revenue Target (as such term is defined in the Debentures), for the quarter ended December 31, 2023, to $15,500, and (c) the Company agreed to release to the Purchasers the $7,500 that the Company was required to maintain in a separate account (the “Escrow Funds”) which Escrow Funds were applied to, and reduce, the outstanding principal amount of the Debentures on a dollar-for-dollar basis. ​ As additional consideration for the waiver, the Company agreed to assign, transfer and convey to the Agent, the Company’s entire right, title and interest in and to (i) the Promissory Note made by J&N Real Estate Company, L.L.C. (“J&N”) payable to the Company in the principal amount of $3,800 and (ii) the Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing dated June 30, 2021, between J&N, as borrower, for the benefit of the Company, as lender (collectively, the “Pledged Indebtedness”). Upon assignment of the Pledged Indebtedness, the Company recognized the $2,600 of consideration in exchange to be applied as a $2,000 reduction of the Put Price (as defined below), $600 reduction of the outstanding principal amount of Debentures and $895 loss on sale of financial asset. ​ In connection with the waiver, the Company and Holders agreed to exercise the outstanding put provision to redeem 10,418 Warrants for an aggregate put price equal to $2,500 (the “Put Price”), which was concurrently reduced by $2,000, as described above, with the remaining $500 payable by the Company on the Maturity Date recorded as Other long-term liabilities on the Condensed Consolidated Balance Sheets. No cash was exchanged as a result of executing the October 2023 Amendment. ​ Subsequently, on December 22, 2023, the Company, the Holders and the Agent entered into an Amendment Agreement (the “December 2023 Amendment”) pursuant to which the Holders and the Agent consented to the Purchase Agreement, as amended by the GVB Amendment (see Note 2 “Discontinued Operations and Divestitures”). In consideration of the Holders and the Agents’ consent, the Company agreed to (i) pay to the Agent, a cash payment of $2,200 to reduce the outstanding principal of the Debentures (which includes the cash portion of the New Purchase Price paid directly to Agent by Buyer which consists of a cash payment of $1,100 and an additional $1,100 paid by the Company), (ii) a 12% secured promissory note issued to the Company’s senior lender, on behalf of and at the direction of the Company, in an aggregate principal amount of $2,000 (the “GVB Promissory Note”), (iii) assign the GVB Insurance Proceeds to the Agent until the outstanding aggregate principal amount of the Debentures, plus accrued and unpaid interest, has been repaid in full; provided that the first $1,000 of Insurance Proceeds in excess of $5,000 shall be applied as stated above, and (iv) post-closing enter into a deed in lieu of foreclosure agreement with respect to 224 acres of real property in Delta County, Colorado commonly known as Needle Rock Farms, resulting in a non-monetary exchange yielding additional debt reduction of $1,000. ​ Effective June 24, 2024, GVB Biopharma (“GVB”), the Company’s former subsidiary, made a scheduled principal and interest payment against the Company’s outstanding indebtedness to JGB, reducing the Company’s total outstanding principal indebtedness with JGB by $1,500. The remaining $500 payable by GVB under the note has been extended to December 31, 2024. ​ As of June 30, 2024, the $500 remaining GVB Promissory Note and $1,000 real estate farm asset are pledged to the senior lender for principal reduction and accordingly $1,500 of the Senior Secured Credit Facility is recorded as Current portion of long-term debt on the Condensed Consolidated Balance Sheets. ​ Additionally, the Company, the Holders and the Agent agreed to amend the Debentures to (i) allow the Holders to voluntarily convert the Debentures, in whole or in part, into shares of the Company’s common stock (“Voluntary Conversion Option”) on the earlier of (i) June 30, 2024 and (ii) the public announcement of a Fundamental Transaction at a conversion price equal to the lower of (x) $1.00 per share and (y) the closing sale price of the Company’s common stock on June 29, 2024 (the “Conversion Price”), and (ii) include a mandatory prepayment of the outstanding principal of the Debentures in an amount equal to 20% of the net cash proceeds of any issuance by the Company of any of its stock, or other Equity Interests (as defined in the Debentures) or the incurrence or issuance of any indebtedness. The Voluntary Conversion Option remains subject to the approval of the Company’s shareholders and the Company is required pursuant to the December 2023 Amendment to use its commercially reasonable efforts to obtain such approval. ​ Additional terms of the December 2023 Amendment include a financial covenant holiday through the third quarter of 2024 and revised certain covenants thereafter to reflect the sale of the Purchased Interests, including lowering the Company’s quarterly revenue targets. ​ On April 8, 2024, the Company, the Holders and the Agent entered into that certain Letter Agreement to modify the terms of the Amendment Agreement, the JGB SPA and the Debentures, as amended (“April 2024 Amendment”). Under the terms of the Letter Agreement, the Holders are permitted to convert their debt to common stock at anytime and the Conversion Price (as defined in the Debentures) at which the Holders may convert the principal amount of their Debentures to the Company’s common stock is reduced to $2.14 per share in accordance with applicable Nasdaq rules. The principal amount of the Debentures converted shall be applied to the Monthly Allowance (as defined in the Debentures) for that month, and any excess shall be applied to the Monthly Allowances for the succeeding months. The conversions will be a dollar for dollar reduction of the remaining outstanding obligation owed to the Holders. The Agent and Holders have also agreed to daily limits on trading volume and minimum conversion amounts. The Holders converted $428 of debt in exchange for 200,000 shares of common stock during the quarter-ended June 30, 2024. ​ Under the terms of the May 2024 Letter Agreement, the Company and Holders have agreed the Company shall incur an aggregate amendment charge to the undersigned holders equal to $275, which shall be added to the principal balance of the Debentures. Under the terms of the May 2024 Exchange Agreement, the Company and Holders exchanged an aggregate of $2,328 in principal, fees and expenses owed under the Debentures for 395,000 shares of common stock and 895,000 immediately exercisable pre-funded warrants to purchase shares of common stock at an exercise price of $.00001 (at an effective per share price of $1.69). All pre-funded warrants were subsequently exercised during the quarter-ended June 30, 2024. As a result of the May 2024 Amendment, the exercise price on 5,876,887 of the Company’s outstanding warrants is reduced to $1.69 per share in accordance with the adjustment provisions therein (see Note 10). ​ In accordance with ASC 470-60 Troubled Debt Restructurings by Debtors and ASC 470-50, Debt Modifications and Extinguishment, the Company performed an assessment of whether the transaction was deemed to be a troubled debt restructuring, and if no, whether the transaction was deemed modification of existing debt, or an extinguishment of existing debt and new debt. ​ The October 2023 Amendment, April 2024 Amendment, and May 2024 Amendment were concluded to be a modification, and not an extinguishment, based on an analysis of the present value of future cash flows. A new effective interest rate was determined, and the debt continued to be amortized. The December 2023 Amendment was concluded to be an extinguishment, due to the addition of a substantive conversion option. As a result, the pre-amended debt carrying value was extinguished and the new debt was recorded at fair value, which is subsequently amortized using the effective interest method. Extinguishment charges were $5,158 and recorded in Interest expense on the Consolidated Statements of Operations and Comprehensive Loss for the quarter ended December 31, 2023. ​ The Company analyzed the conversion feature of the December 2023 Amendment for derivative accounting consideration under ASC 815-15 and determined that the embedded conversion features should be classified as a bifurcated derivative because the exercise price of these convertible notes are subject to a variable conversion rate. The Company has determined that the conversion feature is not considered to be solely indexed to the Company’s own stock and is therefore not afforded equity treatment. In accordance with ASC 815, the Company has bifurcated the conversion feature of the note and recorded a derivative liability at fair value in the amount of $557 as of December 31, 2023 as a component of Other Long-Term Liabilities on the Condensed Consolidated Balance Sheets. As of June 30, 2024, the fair value of the derivative liability was $98. See Note 5 “Fair Value Measurement” for additional information related to measurement of the debentures and derivative liability. ​ Subordinated Note ​ On March 3, 2023, the Company executed a Subordinated Promissory Note (the “Subordinated Note”) with a principal amount of $2,865 in favor of Omnia Ventures, LP (“Omnia”). The Subordinated Note refinanced the 12% Secured Promissory Note with a principal amount of $1,000 dated as of October 29, 2021 payable to Omnia (the “October Note”) and the 12% Secured Promissory Note with a principal amount of $1,500 dated as of January 14, 2022 payable to Omnia (the “January Note”, and together with the October Note, the “Original Notes”), which were assumed by the Company in connection with the acquisition of GVB Biopharma. Under the terms of the Subordinated Note, the Company is obligated to make interest payments in-kind (the “PIK Interest”). The PIK Interest accrues monthly at a compounding rate of 26.5% per annum, payable monthly. The Company is not permitted to prepay all or any portion of the outstanding balance on the Subordinated Note prior to maturity. The maturity date of the Subordinated Note was May 1, 2024. The Subordinated Note was terminated and extinguished in April 2024. ​ In connection with the Subordinated Note, the Company issued to Omnia, warrants to purchase up to 2,813 shares of the Company’s common stock (the “2023 Omnia Warrants”). The 2023 Omnia Warrants were exercisable for seven years ​ On April 29, 2024, the Company entered into a General Release and Settlement Agreement (the “Omnia Agreement”) with Omnia Capital LP (“Omnia”). The Omnia Agreement settles and extinguishes all outstanding debt and interest owed to Omnia under the outstanding Subordinated Promissory Note dated March 3, 2023 (the “Old Note”) and the put provision contained in the 2023 Omnia Warrants, amounting to a total of approximately $5,228, for (i) a cash payment of $249; (ii) 1,150,000 shares of common stock and 1,150,000 immediately exercisable pre-funded warrants to purchase shares of common stock at an exercise price of $0.0001 that are exercisable until May 1, 2029 (at an effective per share price of $2.14) and (iii) 460,000 immediately exercisable warrants to purchase an equal number of shares of common stock at an exercise price of $2.14 until May 1, 2029 (the “2024 Omnia Warrants”). The 2024 Omnia Warrants contain a put provision that permits the holder to require the Company to redeem the 2024 Omnia Warrants, no earlier than May 1, 2025, for a purchase price equal to $2.675 per warrant, and had an initial fair value of $1,515 (see Note 5). Subject to limited exceptions, a holder of pre-funded warrants and 2024 Omnia Warrants will not have the right to exercise any portion of its warrants if the holder, together with its affiliates, would beneficially own in excess of 19.99% of the number of shares of our common stock outstanding immediately after giving effect to such exercise. As part of the Omnia Agreement, the parties agreed to terminate and cancel the Old Note and the 2023 Omnia Warrants and released all debts, claims or other obligations against each other occurring prior to the date of the Omnia Agreement. The total cash and non-cash consideration amounted to $5,628, resulting in extinguishment charges of $400 for the three months ended June 30, 2024, recorded in Interest expense in the Statement of Operations and Comprehensive Loss. ​ Contractual Maturities ​ The Company has $1,500 pledged against outstanding indebtedness under the Senior Secured Credit Facility comprised of (i) $500 GVB promissory note and (ii) $1,000 assignment of Needle Rock Farms to be applied as principal reduction in 2024. As of June 30, 2024, contractual maturities under the Senior Secured Credit Facility for the remainder of 2024 and through maturity, excluding any discounts or premiums, were to be paid in 2024 of $1,500 and 2026 of $6,046. ​ Additionally, commencing August 2024, at its option, JGB may require the Company to redeem 2% of the original principal amount of the Debentures, or $428, per calendar month which amount may at the Company’s election, subject to certain exceptions, be paid in cash, shares of the Company’s common stock, or a combination thereof. ​ Debt Issuance Costs ​ The fair values of the warrants at issuance of $5,791, together with the Debentures original issuance discount of $1,053, Debentures exit payment of $1,053, and third-party debt issuance costs of $801, are being amortized using the effective interest method over the term of the respective debt instrument, recorded as Interest expense in the Condensed Consolidated Statement of Operations and Comprehensive Loss. The components and activity of unamortized discount and deferred debt issuance costs related to the Senior Secured Credit Facility and Subordinated Note is as follows: ​ ​ ​ ​ ​ ​ ​ ​ Total January 1, 2023 ​ $ - Issuance ​ ​ 8,698 Amortization during the year ​ ​ (2,087) Debt extinguishment charges ​ ​ (5,158) December 31, 2023 ​ ​ 1,453 Amortization during the period ​ ​ (567) March 31, 2024 ​ $ 886 Amortization during the period ​ ​ (107) June 30, 2024 ​ $ 779 ​

NOTES & LOANS PAYABLE

NOTES & LOANS PAYABLE	6 Months Ended
	Jun. 30, 2024
NOTES & LOANS PAYABLE
NOTES & LOANS PAYABLE	NOTE 7. – NOTES & LOANS PAYABLE The table below outlines our notes and loans payable balances as of June 30, 2024 and December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2024 2023 Insurance loans payable ​ $ 877 ​ $ 543 Total current notes and loans payable ​ $ 877 ​ $ 543 ​ Insurance loans payable ​ During the second quarter of 2024, the Company renewed its Director and Officer (“D&O”) insurance for a one-year policy premium totaling $866. The Company paid $147 as a premium down payment and financed the remaining $719 of policy premiums over ten months at a 8.3% annual percentage rate. ​ During the second quarter of 2023, the Company renewed its Director and Officer (“D&O”) insurance for a one-year policy premium totaling $1,626. The Company paid $285 as a premium down payment and financed the remaining $1,341 of policy premiums over ten months at a 7.88% annual percentage rate. Additionally, during the third quarter of 2023, the Company expanded its D&O coverage, resulting in additional financing of $143, at 9.38% annual percentage rate over six months. ​ The Company also has other insurance loans payable related to property and general liability across the Company. ​ Estimated future principal payments to be made under the above notes and loans payable as of June 30, 2024 are as follows: ​ ​ ​ ​ ​ 2024 ​ $ 622 2025 ​ ​ 255 Total ​ $ 877 ​

REVENUE RECOGNITION

REVENUE RECOGNITION	6 Months Ended
	Jun. 30, 2024
REVENUE RECOGNITION
REVENUE RECOGNITION	NOTE 8. – REVENUE RECOGNITION The Company’s revenues are derived primarily from contract manufacturing organization (“CMO”) customer contracts that consist of obligations to manufacture the customers’ branded filtered cigars and cigarettes. Additional revenues are generated from sale of the Company’s proprietary low nicotine content cigarettes, sold under the brand name VLN ® ® The Company recognizes revenue when it satisfies a performance obligation by transferring control of the product to a customer. For certain CMO contracts, the performance obligation is satisfied over time as the Company determines, due to contract restrictions, it does not have an alternative use of the product and it has an enforceable right to payment as the product is manufactured. The Company recognizes revenue under those contracts at the unit price stated in the contract based on the units to customers and is recognized net of cash discounts, sales returns and allowances. There was no allowance for discounts or returns at June 30, 2024 and December 31, 2023. Disaggregation of Revenue The Company’s net revenue is derived from customers located primarily in the United States and is disaggregated by the timing of revenue. Revenue recognized from Tobacco products transferred to customers over time represented 66% and 63%, respectively, of total Tobacco revenue for the three and six months ended June 30, 2024, compared to 67% and 66%, respectively, for the three and six months ended June 30, 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ Six Months Ended ​ ​ June 30, ​ ​ June 30, ​ 2024 ​ 2023 ​ ​ 2024 ​ 2023 Contract Manufacturing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cigarettes ​ $ 4,107 ​ $ 3,797 ​ ​ $ 6,867 ​ $ 8,286 Filtered Cigars ​ ​ 3,303 ​ ​ 3,931 ​ ​ ​ 6,927 ​ ​ 8,326 Cigarillos ​ ​ 552 ​ ​ - ​ ​ ​ 552 ​ ​ - Total Contract Manufacturing ​ ​ 7,962 ​ ​ 7,728 ​ ​ ​ 14,346 ​ ​ 16,612 VLN ® ​ ​ (15) ​ ​ 322 ​ ​ ​ 70 ​ ​ 365 Total Product Line Revenues ​ $ 7,947 ​ $ 8,050 ​ ​ $ 14,416 ​ $ 16,977 ​ The following tables present net revenues by significant customers, which are defined as any customer who individually represents 10% or more of disaggregated product line net revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ June 30, ​ 2024 ​ 2023 Customer A ​ 34.37 % ​ 29.42 % Customer B ​ 21.37 % ​ 14.34 % Customer C ​ 7.46 % ​ 27.26 % Customer D ​ 20.93 % ​ 17.92 % All other customers ​ 15.87 % ​ 11.06 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, ​ ​ 2024 ​ 2023 Customer A ​ 36.25 % ​ 27.68 % Customer B ​ 22.87 % ​ 16.46 % Customer C ​ 14.16 % ​ 27.15 % Customer D ​ 13.95 % ​ 14.75 % All other customers ​ 12.77 % ​ 13.96 % ​ Contract Assets and Liabilities Unbilled receivables (contract assets) represent revenues recognized for performance obligations that have been satisfied but have not been billed. These receivables are included as Accounts receivable, net on the Condensed Consolidated Balance Sheets. Customer payment terms vary depending on the terms of each customer contract, but payment is generally due prior to product shipment or within credit terms up to 30 days after shipment. Deferred income (contract liabilities) relates to down payments received from customers in advance of satisfying a performance obligation and is included as Deferred income on the Condensed Consolidated Balance Sheets. Total contract assets and contract liabilities are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2024 2023 Unbilled receivables $ 1,135 $ 1,053 Deferred income ​ ​ (389) ​ ​ (726) Net contract assets ​ $ 746 ​ $ 327 ​ ​ During the six months ended June 30, 2024, the Company recognized $726 of revenue that was included in the contract liability balance as of December 31, 2023. During the six months ended June 30, 2023, the Company recognized $688 of revenue that was included in the contract asset balance as of December 31, 2022.

EQUITY- BASED COMPENSATION

EQUITY- BASED COMPENSATION	6 Months Ended
	Jun. 30, 2024
EQUITY- BASED COMPENSATION
EQUITY- BASED COMPENSATION	​ NOTE 9 – EQUITY- BASED COMPENSATION The Company maintains certain stock-based compensation plans that were approved by the Company’s shareholders and are administered by the Compensation Committee of the Company’s Board of Directors. The stock-based compensation plans provide for the granting of stock options, time and performance based restricted stock units (RSU’s), among other awards to employees, non-employee directors, consultants, and service providers. The 2021 Omnibus Incentive Plan was amended on June 28, 2024, increasing the authorized shares by an additional . As of June 30, 2024, the Company had available Compensation Expense – ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ ​ June 30, ​ June 30, ​ ​ 2024 2023 2024 2023 ​ Sales, general, and administrative ​ $ 36 ​ $ 1,389 ​ $ 176 ​ $ 2,435 ​ Research and development ​ 20 ​ 67 ​ 61 ​ 117 ​ Total equity based compensation - continuing operations ​ ​ 56 ​ ​ 1,456 ​ ​ 237 ​ 2,552 ​ Total equity based compensation - discontinued operations ​ ​ — ​ ​ 30 ​ ​ — ​ 109 ​ Total equity based compensation ​ $ 56 ​ $ 1,486 ​ $ 237 ​ $ 2,661 ​ ​ Restricted Stock Units ​ ​ ​ ​ ​ ​ ​ ​ ​ Unvested RSUs ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant-date ​ Shares Fair Value ​ ​ ​ ​ $ per share Unvested at January 1, 2024 9,681 ​ $ 251.12 Vested ​ (4,234) ​ ​ 233.09 Forfeited ​ (354) ​ ​ 274.16 Unvested at March 31, 2024 ​ 5,093 ​ $ 264.45 Forfeited ​ (3,269) ​ ​ 287.31 Unvested at June 30, 2024 ​ 1,824 ​ $ 221.93 ​ The fair value of RSUs that vested during the six months ended June 30, 2024 was approximately $9 based on the stock price at the time of vesting. As of June 30, 2024, unrecognized compensation expense for RSUs amounted to $335 which is expected to be recognized over a weighted average period of approximately 1.6 years. Stock Options – ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ Aggregate ​ ​ Number of ​ Exercise ​ Contractual ​ Intrinsic ​ Options Price Term Value ​ ​ ​ ​ $ per share ​ ​ ​ ​ ​ ​ Outstanding at January 1, 2024 13,729 ​ $ 421.51 ​ Expired (2,778) ​ ​ 330.74 ​ Forfeited (417) ​ ​ 621.60 ​ Outstanding at March 31, 2024 10,534 ​ $ 437.52 1.4 years $ — Expired ​ (3,929) ​ ​ 570.27 ​ ​ ​ ​ ​ ​ Outstanding at June 30, 2024 ​ 6,605 ​ $ 358.81 ​ 0.4 years ​ $ — Exercisable at June 30, 2024 6,605 ​ $ 358.81 0.4 years $ — ​ The intrinsic value of a stock option is the amount by which the current market value or the market value upon exercise of the underlying stock exceeds the exercise price of the option.

CAPITAL RAISES AND WARRANTS FOR

CAPITAL RAISES AND WARRANTS FOR COMMON STOCK	6 Months Ended
	Jun. 30, 2024
CAPITAL RAISE AND WARRANTS FOR COMMON STOCK
CAPITAL RAISE AND WARRANTS FOR COMMON STOCK	NOTE 10. – CAPITAL RAISES AND WARRANTS FOR COMMON STOCK The following tables summarize the Company’s warrant activity: ​ ​ ​ ​ Warrants outstanding at January 1, 2024 ​ 2,984,847 Issued ​ 1,641,535 Exercised ​ (820,769) Warrants outstanding at March 31, 2024 ​ 3,805,613 Issued ​ 4,813,800 Abandoned ​ (2,813) Exercised ​ (1,105,000) Warrants outstanding at June 30, 2024 ​ 7,511,600 ​ The following tables summarizes the Company’s outstanding warrants as of June 30, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ # of warrants outstanding ​ Exercise price ​ Expiration date July 2022 RDO warrants ​ 4,067 ​ $ 492.00 ​ July 25, 2027 Senior Secured Credit Facility - JGB ​ 20,645 ​ $ 205.248 ​ September 3, 2028 July 19, 2023 RDO warrants ​ 28,125 ​ $ 1.69 ​ July 20, 2028 October 2023 CMPO warrants ​ 168,750 ​ $ 1.69 ​ October 19, 2028 Inducement warrants ​ 3,581,213 ​ $ 1.69 ​ February 15, 2029 April 2024 RDO ​ 1,980,000 ​ $ 1.69 ​ June 28, 2029 April 2024 RDO - Placement Agent ​ 118,800 ​ $ 1.69 ​ June 28, 2029 Omnia Pre-Funded ​ 1,150,000 ​ $ 0.00001 ​ NA Omnia 2024 warrants ​ 460,000 ​ $ 2.14 ​ May 1, 2029 ​ ​ 7,511,600 ​ ​ ​ ​ ​ ​ ​ Warrant Inducement Offering ​ On November 28, 2023, the Company commenced a warrant inducement offering with the holders of the Company’s outstanding 1,986,229 warrants consisting of: (i) the common stock purchase warrants of the Company issued on or about June 22, 2023; (ii) the common stock purchase warrants of the Company issued on or about July 10, 2023; (iii) the common stock purchase warrants of the Company issued on or about July 21, 2023; and/or (iv) the common stock purchase warrants of the Company issued on or about October 19, 2023 (collectively, the “Existing Warrants”), which Existing Warrants were exercisable for an equal number of shares of common stock at an exercise price of $8.40 . The Company agreed to issue new warrants (the “Inducement Warrants”) to purchase up to a number of shares of common stock equal to 200% of the number of shares of common stock issued pursuant to the exercise by the holders of the Existing Warrants during the inducement period, for cash, at a reduced exercise price equal to the Nasdaq Minimum Price (as defined in the as defined in Nasdaq Listing Rule 5635(d)). For the period from January 1, 2024 to February 15, 2024, the date of shareholder approval, the Company entered into warrant inducement agreements with certain holders of the Existing Warrants to purchase an aggregate of 820,769 shares of common stock at a reduced weighted average exercise price of approximately $2.9504 . Pursuant to the warrant inducement agreements, the exercising holders of the Existing Warrants received 1,641,535 Inducement Warrants and the Company received aggregate gross proceeds of approximately $2,421 from the exercise of the Existing Warrants. lowest Nasdaq Minimum Price (as defined in the as defined in Nasdaq Listing Rule 5635(d)) The exercise price was further reduced to $1.69 in May 2024. As a result of the inducement and subsequent exercise, the Company determined the incremental fair value provided to the holders using Black Scholes and Monte Carlo models as (i) $148 increase in fair value due to the adjustment in exercise price of Existing Warrants attributable to down round pricing protection (ii) $3,441 fair value of Inducement Warrants issued to the holders that exercised Existing Warrants. The incremental fair value is recorded as non-cash deemed dividend. The proceeds of the warrant inducement and issuance of common stock are recorded as Capital in excess of par value. As a result of subsequent offerings, the exercise price on 3,581,213 warrants was automatically adjusted triggering non-cash deemed dividends as a result of the down-round adjustments. In April 2024, the exercise price was adjusted to $2.14 and further in May 2024 was adjusted to $1.69 . April 2024 Registered Direct Offering ​ On April 8, 2024, the Company and certain investors (the “Investors”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) relating to the issuance and sale of shares of common stock (or pre-funded warrants in lieu of common stock) pursuant to a registered direct offering and a private placement of warrants to purchase shares of common stock (collectively, the “Offering”). The Investors purchased approximately $4,237 of shares and warrants, consisting of an aggregate of 1,855,000 shares of common stock, pre-funded warrants to purchase 125,000 shares of common stock and warrants to purchase 1,980,000 shares of common stock, at a purchase price of $2.14 per share and accompanying warrant. The warrants are exercisable after the Shareholder Approval Date (as defined in the Securities Purchase Agreement) at an exercise price of $2.14 per share of common stock, expire on the date that is five The Company agreed to pay the Placement Agent a cash fee of 6.0% of the gross proceeds from the Offering, an additional 6.0% cash fee of any cash exercise of the warrants and to reimburse the Placement Agent for its expenses, including the reimbursement of legal fees up to an aggregate of $50,000. In addition, the Company issued an aggregate of 118,800 placement agent warrants to the Placement Agent and its designees with substantially the same terms as the warrants to the Investors, except that the placement agent warrants will terminate five years following the commencement of sales of the Offering and have an exercise price of $2.675. ​ The net proceeds to the Company from the Offering, after deducting placement agent fees and the Company’s estimated offering expenses, were approximately $3,913. ​ As a result of subsequent equity issuance in May 2024, the exercise price on 2,098,800 warrants was automatically adjusted to $1.69 triggering non-cash deemed dividends as a result of the down-round adjustments. Other Agreements On April 29, 2024, the Company settled an aggregate of $1,192 of outstanding indebtedness under various commercial agreements for an aggregate of 700,958 shares of common stock at an effective price per share of $2.14. ​

LOSS PER COMMON SHARE

LOSS PER COMMON SHARE	6 Months Ended
	Jun. 30, 2024
LOSS PER COMMON SHARE
LOSS PER COMMON SHARE	NOTE 11. – LOSS PER COMMON SHARE The following table sets forth the computation of basic and diluted loss per common share for the three and six months ended June 30, 2024 and 2023, respectively. Outstanding warrants, options and RSUs were excluded from the calculation of diluted EPS as the effect was antidilutive to consolidated net loss. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 ​ ​ (in thousands, except for per-share data) Net loss from continuing operations ​ $ (2,214) ​ $ (13,708) ​ $ (7,664) ​ $ (24,537) Net (income) loss from discontinued operations ​ ​ 1,102 ​ ​ (6,831) ​ ​ 813 ​ ​ (14,184) Net loss ​ ​ (1,112) ​ ​ (20,539) ​ ​ (6,851) ​ ​ (38,721) Deemed dividends ​ ​ (445) ​ ​ (367) ​ ​ (4,034) ​ ​ (367) Net loss available to common shareholders ​ $ (1,557) ​ $ (20,906) ​ $ (10,885) ​ $ (39,088) Weighted average common shares outstanding - basic and diluted ​ 7,449,706 ​ ​ 878,171 ​ ​ 5,307,471 ​ ​ 862,177 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted loss per common share from continuing operations ​ $ (0.30) ​ $ (15.61) ​ $ (1.44) ​ $ (28.46) Basic and diluted loss per common share from discontinued operations ​ ​ 0.15 ​ ​ (7.78) ​ ​ 0.15 ​ ​ (16.45) Basic and diluted loss per common share from deemed dividends ​ ​ (0.06) ​ ​ (0.42) ​ ​ (0.76) ​ ​ (0.43) Basic and diluted loss per common share ​ $ (0.21) ​ $ (23.81) ​ $ (2.05) ​ $ (45.34) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Anti-dilutive shares are as follows as of June 30: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrants ​ ​ 7,511,600 ​ ​ 151,775 ​ ​ 7,511,600 ​ ​ 151,775 Options ​ ​ 6,605 ​ ​ 20,036 ​ ​ 6,605 ​ ​ 20,036 Restricted stock units ​ ​ 1,824 ​ ​ 24,434 ​ ​ 1,824 ​ ​ 24,434 ​ ​ ​ 7,520,029 ​ ​ 196,245 ​ ​ 7,520,029 ​ ​ 196,245 ​

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 12. - COMMITMENTS AND CONTINGENCIES License agreements and sponsored research – ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Future Commitments ​ Commitment Counter Party Commitment Type 2024 2025 2026 2027 ​ 2028 & After ​ Total License Agreement ​ NCSU ​ Minimum annual royalty ​ $ 100 ​ $ 100 ​ $ 100 ​ $ 100 ​ $ 3,575 ​ $ 3,975 (1) License Agreement ​ NCSU ​ Contract fee ​ ​ 150 ​ ​ 250 ​ ​ 250 ​ ​ — ​ ​ — ​ ​ 650 (2) Consulting Agreements ​ Various ​ Contract fee ​ ​ 928 ​ ​ 373 ​ ​ 146 ​ ​ — ​ ​ — ​ ​ 1,447 (3) Growing Agreements ​ Various ​ Contract fee ​ ​ 149 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 149 (4) ​ ​ ​ ​ ​ ​ $ 1,327 ​ $ 723 ​ $ 496 ​ $ 100 ​ $ 3,575 ​ $ 6,221 ​ ​ ​ ​ (1) The minimum annual royalty fee is credited against running royalties on sales of licensed products. The Company is also responsible for reimbursing NCSU for actual third-party patent costs incurred, including capitalized patent costs and patent maintenance costs. These costs vary from year to year and the Company has certain rights to direct the activities that result in these costs. (2) On November 1, 2023, the Company entered into a license agreement with NCSU for an exclusive sublicensable right and license under specific patent rights and plant variety rights for the field of use in specific licensed territories. Additional milestone fees could be required pending achievement of events pursuant to the agreement. (3) As a requirement for a modified risk tobacco product and condition of the marketing authorization by the FDA, the Company engaged various consulting firms to conduct post-market studies and research. (4) Various R&D growing agreements for tobacco. Litigation In connection with ongoing restructuring efforts and the hemp/cannabis disposal group (see Note 2 “Divestitures and discontinued operations”) the Company has received unasserted claims related to disputed contracts, which could result in accrual of an additional amount up to $1,314 on the Condensed Consolidated Balance Sheets. The Company is vigorously defending its position against these claims. Class Action On January 21, 2019, Matthew Jackson Bull, a resident of Denver, Colorado, filed a Complaint against the Company, the Company’s then Chief Executive Officer, Henry Sicignano III, and the Company’s then Chief Financial Officer, John T. Brodfuehrer, in the United States District Court for the Eastern District of New York entitled: Matthew Bull, Individually and on behalf of all others similarly situated, v. 22nd Century Group, Inc., Henry Sicignano III, and John T. Brodfuehrer, Case No. 1:19 cv 00409. The complaint alleges three counts: Count I sues the Company and Messrs. Sicignano and Brodfuehrer and alleges that the Company's quarterly and annual reports, SEC filings, press releases and other public statements and documents contained false statements in violation of Section 10(b) of the Securities Exchange Act and Rule 10b-5; Count II sues Messrs. Sicignano and Brodfuehrer pursuant to Section 10(b) of the Securities Exchange Act and Rule 10b5(a) and (c); and Count III sues Messrs. Sicignano and Brodfuehrer for the allegedly false statements pursuant to Section 20(a) of the Securities Exchange Act. The Amended Complaint seeks to certify a class, and unspecified compensatory and punitive damages, and attorney's fees and costs. Several other cases were subsequently filed and consolidated into the main action. On April 25, 2023, the parties filed with the Court the Motion for Preliminary Approval of the Settlement, which includes the final terms of the proposed settlement. The Court preliminarily approved the settlement on June 30, 2023, and scheduled a further settlement hearing for October 3, 2023. The Court entered the Final Judgment and Order of Dismissal with Prejudice of the action on October 23, 2023. The settlement amount that the defendants paid is Shareholder Derivative Cases On February 6, 2019, Melvyn Klein, a resident of Nassau County New York, filed a shareholder derivative claim against the Company, the Company’s then Chief Executive Officer, Henry Sicignano III, the Company’s Chief Financial Officer, John T. Brodfuehrer, and each member of the Company’s Board of Directors in the United States District Court for the Eastern District of New York entitled: Melvyn Klein, derivatively on behalf of 22nd Century Group v. Henry Sicignano, III, Richard M. Sanders, Joseph Alexander Dunn, Nora B. Sullivan, James W. Cornell, John T. Brodfuehrer and 22nd Century Group, Inc., Case No. 1:19 cv 00748. Mr. Klein brings this action derivatively alleging that (i) the director defendants supposedly breached their fiduciary duties for allegedly allowing the Company to make false statements; (ii) the director defendants supposedly wasted corporate assets to defend this lawsuit and the other related lawsuits; (iii) the defendants allegedly violated Section 10(b) of the Securities Exchange Act and Rule 10b 5 promulgated thereunder for allegedly approving or allowing false statements regarding the Company to be made; and (iv) the director defendants allegedly violated Section 14(a) of the Securities Exchange Act and Rule 14a 9 promulgated thereunder for allegedly approving or allowing false statements regarding the Company to be made in the Company’s proxy statement. Numerous other shareholder derivative cases were subsequently filed and consolidated into the main action. On December 5, 2023, the parties entered into a Memorandum of Settlement to fully resolve all claims pending the Court’s approval of a motion for preliminary approval of settlement. The settlement amount is $768 related to plaintiffs attorney and legal fees and is fully covered by the Company’s insurance. The Company expects the settlement to be approved and funded in the fourth quarter of 2024. Accordingly, the Company has recorded an accrual for litigation settlement and corresponding indemnification receivable on the Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023. Insurance Litigation In November 2022, there was a fire at the Company’s Grass Valley manufacturing facility in Oregon, which resulted in a total loss of the facility. The Company submitted an insurance claim with Dorchester Insurance Company, Ltd. (“Dorchester”) for casualty loss and business interruption coverage which was acknowledged on November 23, 2022. Dorchester funded $5,000 of casualty loss insurance but has failed to issue any payments in connection with the Company’s business interruption claim.       On July 19, 2023, the Company filed a Complaint against Dorchester in the United States District Court for the District of Oregon, Pendleton Division, Case No. 2:23-cv-01057-HL. The Company is alleging breach of contract and breach of duty of good faith and fair dealing. The Company is seeking full recovery of its business interruption claim of approximately $9,000 under the policy plus direct and indirect damages resulting from Dorchester’s continued delay in issuing coverage payments. Discovery is ongoing. The trial date is November 4, 2025. ​ KeyGene Dispute in the field related to the hops plant. On January 8, 2024, the Company formally terminated both Framework Collaborative Research Agreements, as amended, related to hemp/cannabis and hops. KeyGene is seeking payment in the amount of for services performed. The matter is being arbitrated under the administration of the International Court of Arbitration. The Company filed its Answer to Request for Arbitration with Defenses and Counterclaims on June 4, 2024. On July 25, 2024, an arbitrator was formally appointed. Discovery has not yet commenced, and no arbitration date has been set. The Company believes it has substantial defenses to KeyGene’s claims and intends to defend itself vigorously. Maison Dispute On January 23, 2024, the Company received a Notice of Intent to Arbitrate from Maison Placements Canada Inc. (“Maison”) in connection with the Company’s March 2023 Senior Secured Credit Facility transaction. Maison claims it is owed fees for closure of the Senior Secured Credit Facility transaction as a result of discussions with former Company personnel and a purported letter of engagement dating from 2021.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (1,112)	$ (5,739)	$ (20,539)	$ (18,182)	$ (6,851)	$ (38,721)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	Basis of Presentation Century Group” or the “Company”) is a Nevada corporation publicly traded on the NASDAQ Capital Market under the symbol “XXII.” 22nd Century Group is a tobacco products company with sales and distribution of the Company’s own proprietary new reduced nicotine tobacco products authorized as Modified Risk Tobacco Products by the FDA. Additionally, the Company provides contract manufacturing services for conventional combustible tobacco products for third-party brands. ​ The accompanying Condensed Consolidated Financial Statements are presented in accordance with the rules and regulations of the United States ("U.S.") Securities and Exchange Commission ("SEC") and do not include all of the disclosures required by U.S. generally accepted accounting principles (“U.S. GAAP”) as contained in the Company’s Annual Report on Form 10-K. Accordingly, these Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company’s most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2023. ​ In the opinion of management, the Condensed Consolidated Financial Statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the results of the Company for the periods presented. The results for interim periods are not necessarily indicative of results or trends that may be expected for the fiscal year as a whole. The Condensed Consolidated Financial Statements were prepared using U.S. GAAP, which require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, certain components of equity, sales, expenses, and related disclosures at the date of the financial statements and during the reporting period. Actual results could differ materially from these estimates.
Liquidity and Capital Resources	Liquidity and Capital Resources – The Company has incurred significant losses and negative cash flows from operations since inception and expects to incur additional losses until such time that it can generate significant revenue and profit in its tobacco business. The Company had negative cash flow from operations of $6,970 and $37,332 for the six months ended June 30, 2024 and 2023, respectively, and an accumulated deficit of $385,558 and $378,707 as of June 30, 2024 and December 31, 2023, respectively. As of June 30, 2024, the Company had cash and cash equivalents of $1,279. Given the Company’s projected operating requirements and its existing cash and cash equivalents, there is substantial doubt about the Company’s ability to continue as a going concern through one year following the date that the Condensed Consolidated Financial Statements are issued. In response to these conditions, management is currently evaluating different strategies for reducing expenses, as well as pursuing financing strategies which include raising additional funds through the issuance of securities, asset sales, and through arrangements with strategic partners. If capital is not available to the Company when, and in the amounts needed, it could be required to liquidate inventory, cease or curtail operations, or seek protection under applicable bankruptcy laws or similar state proceedings. There can be no assurance that the Company will be able to raise the capital it needs to continue operations. Management’s plans do not alleviate substantial doubt about the Company’s ability to continue as a going concern through one year following the date that the Condensed Consolidated Financial Statements are issued. ​ The Condensed Consolidated Financial Statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty.
Other Significant Risks and Uncertainties	Other Significant Risks and Uncertainties
Reclassifications	Reclassifications
Reverse Stock Split	Reverse Stock Split 1-for-16
Warrants	Warrants Warrants that the Company may be required to redeem through payment of cash or other assets outside its control are classified as liabilities pursuant to ASC 480 and are initially and subsequently measured at their estimated fair values. For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of Capital in excess of par value at the time of issuance. For additional discussion on warrants, see Note 5 and Note 10.
Debt Issued with Detachable Warrants	Debt Issued with Detachable Warrants
Embedded Derivatives	Embedded Derivatives
Debt Issuance Costs and Discounts	Debt Issuance Costs and Discounts
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets
Gain and Loss Contingencies	​ Gain and Loss Contingencies ​ In accordance with ASC 450-30, Gain Contingencies, gain contingencies are recognized when earned and realized, which typically will occur at the time of final settlement or when cash is received. Insurance recoveries may be realized earlier than cash receipt if a claim and amount of reimbursement is acknowledged by the insurance company that payment is due and collection is probable. ​ The Company maintains general liability insurance policies for its facilities. Under the terms of our insurance policies, in the case of loss to a property, the Company follows the guidance in ASC 610-30, Other Income —Gains and Losses on Involuntary Conversions ​ Refer to further discussion of all commitments and contingencies in Note 12.
Severance charges	Severance charges The following table summarizes the change in accrued severance liabilities, presented within Other current liabilities on the Condensed Consolidated Balance Sheets: ​ ​ ​ ​ ​ Balance at January 1, 2024 ​ $ 386 Cash payments ​ ​ (64) Balance at March 31, 2024 ​ ​ 322 Cash payments ​ ​ (73) Balance at June 30, 2024 ​ $ 249 ​ The following table summarizes the classification of severance charges on the Condensed Consolidated Statements of Operations and Comprehensive Loss: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 Sales, general, and administrative ​ $ — ​ $ 569 ​ $ — ​ $ 569 Total severance charges ​ $ — ​ $ 569 ​ $ — ​ $ 569
Income Taxes	​ Income Taxes
Recent Accounting Pronouncements - Adoption of Accounting Standards Codification Topic 326	Recent Accounting Pronouncements – Adoption of Accounting Standards Codification Topic 326 The Company adopted ASU 2016-13, or ASC 326 Financial Instruments-Credit Losses, effective January 1, 2023 under a modified retrospective approach. Under the current expected credit losses (“CECL”) model, the Company immediately recognizes an estimate of credit losses expected to occur over the life of the financial asset at the time the financial asset is originated or acquired. Estimated credit losses are determined by taking into consideration historical loss conditions, current conditions and reasonable and supportable forecasts. Changes to the expected lifetime credit losses are recognized each period. The new guidance applies to the Company’s trade receivables and contract asset balances. Due to the nature of business operations and contracts with customers, the Company has historically not experienced significant bad debt expense or write-offs and as a result, the adoption of ASC 326 did not have a material impact to the Company’s Condensed Consolidated Financial Statements. In connection with the adoption of ASC 326, the Company recorded a provision for credit losses of Accounting Guidance Not Yet Elected or Adopted ​ In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740)-Improvements to Income Tax Disclosures. The ASU requires additional quantitative and qualitative income tax disclosures to allow readers of the consolidated financial statements to assess how the Company’s operations, related tax risks and tax planning affect its tax rate and prospects for future cash flows. For public business entities, the ASU is effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact that the adoption of this ASU will have on its consolidated financial statements. We consider the applicability and impact of all ASUs. If the ASU is not listed above, it was determined that the ASU was either not applicable or would have an immaterial impact on our financial statements and related disclosures.

NATURE OF BUSINESS AND SUMMAR_2

NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2024
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of change in accrued liabilities	​ ​ ​ ​ ​ Balance at January 1, 2024 ​ $ 386 Cash payments ​ ​ (64) Balance at March 31, 2024 ​ ​ 322 Cash payments ​ ​ (73) Balance at June 30, 2024 ​ $ 249
Schedule of accrued liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 Sales, general, and administrative ​ $ — ​ $ 569 ​ $ — ​ $ 569 Total severance charges ​ $ — ​ $ 569 ​ $ — ​ $ 569

DISCONTINUED OPERATIONS AND D_2

DISCONTINUED OPERATIONS AND DIVESTITURES (Tables)	6 Months Ended
	Jun. 30, 2024
DISCONTINUED OPERATIONS AND DIVESTITURES
Schedule of Discontinued Operations and Divestitures	​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2024 ​ 2023 Prepaid expenses and other current assets $ 7 ​ $ 9 Property, plant and equipment, net 1,051 ​ ​ 1,207 Other assets ​ — ​ ​ 38 Current assets of discontinued operations held for sale $ 1,058 ​ $ 1,254 ​ ​ ​ ​ ​ ​ Notes and loans payable - current $ — ​ $ 2 Operating lease obligations — ​ 1,083 Accounts payable 1,279 ​ 2,013 Accrued expenses 75 ​ 79 Deferred income ​ — ​ ​ 8 Other current liabilities ​ 43 ​ ​ — Current liabilities of discontinued operations held for sale $ 1,397 ​ $ 3,185 ​ ​ ​ ​ ​ ​ Net liabilities $ (339) ​ $ (1,931) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ June 30, ​ June 30, ​ 2024 2023 ​ 2024 2023 Revenues, net $ — ​ $ 15,377 ​ $ — ​ $ 28,412 Cost of goods sold ​ — ​ ​ 16,761 ​ ​ — ​ ​ 30,990 Gross loss ​ — ​ ​ (1,384) ​ ​ — ​ ​ (2,578) Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales, general and administrative ​ (387) ​ ​ 4,257 ​ ​ (320) ​ ​ 8,652 Research and development ​ 84 ​ ​ 994 ​ ​ 132 ​ ​ 1,781 Other operating expense, net ​ (865) ​ ​ 91 ​ ​ (766) ​ ​ 996 Total operating (income) expense ​ (1,168) ​ ​ 5,342 ​ ​ (954) ​ ​ 11,429 Operating income (loss) from discontinued operations ​ 1,168 ​ ​ (6,726) ​ ​ 954 ​ ​ (14,007) Other income (expense): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other income, net ​ — ​ ​ 17 ​ ​ — ​ ​ 38 Interest expense ​ (66) ​ ​ (122) ​ ​ (141) ​ ​ (215) Total other expense ​ (66) ​ ​ (105) ​ ​ (141) ​ ​ (177) Income (loss) from discontinued operations before income taxes ​ 1,102 ​ ​ (6,831) ​ ​ 813 ​ ​ (14,184) Provision (benefit) for income taxes ​ — ​ ​ — ​ ​ — ​ ​ — Net income (loss) from discontinued operations $ 1,102 ​ $ (6,831) ​ $ 813 ​ $ (14,184) ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ June 30, ​ 2024 2023 Cash used in operating activities $ 867 ​ $ 49,882 Cash provided by investing activities $ 22 ​ $ 1,194 ​ ​ ​ ​ ​ ​ Depreciation and amortization $ - ​ $ 1,367 Capital expenditures $ - ​ $ 2,277 ​

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2024
INVENTORIES
Schedule of Inventories	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ 2024 2023 Raw materials ​ $ 1,975 ​ $ 3,580 Work in process ​ ​ — ​ ​ — Finished goods ​ 689 ​ ​ 766 ​ ​ $ 2,664 ​ $ 4,346 ​

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	6 Months Ended
	Jun. 30, 2024
INTANGIBLE ASSETS, NET
Schedule of total intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Accumulated Net Carrying June 30, 2024 Carrying Amount Amortization Amount Definite-lived: ​ ​ ​ ​ ​ ​ ​ ​ ​ Patent ​ $ 2,922 ​ $ (2,185) ​ $ 737 License fees ​ 4,165 ​ ​ (1,860) ​ ​ 2,305 Total amortizing intangible assets ​ $ 7,087 ​ $ (4,045) ​ $ 3,042 Indefinite-lived: ​ ​ ​ ​ ​ ​ ​ ​ Trademarks ​ ​ ​ ​ ​ ​ ​ $ 134 MSA signatory costs ​ ​ ​ ​ ​ ​ ​ ​ 2,202 License fee for predicate cigarette brand ​ ​ ​ ​ ​ ​ ​ ​ 350 Total indefinite-lived intangible assets ​ ​ ​ ​ ​ ​ ​ $ 2,686 Total intangible assets, net ​ ​ ​ ​ ​ ​ ​ $ 5,728 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Accumulated ​ ​ ​ Net Carrying December 31, 2023 Carrying Amount Amortization Impairment ​ Amount Definite-lived: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Patent ​ $ 2,913 ​ $ (1,622) ​ $ (487) ​ $ 804 License fees ​ 4,165 ​ ​ (1,666) ​ ​ (65) ​ ​ 2,434 Total amortizing intangible assets ​ $ 7,078 ​ $ (3,288) ​ $ (552) ​ $ 3,238 Indefinite-lived: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trademarks ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 134 MSA signatory costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,202 License fee for predicate cigarette brand ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 350 Total indefinite-lived intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 2,686 Total intangible assets, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 5,924
Schedule of aggregate intangible asset amortization expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 Cost of goods sold ​ $ 2 ​ $ 3 ​ $ 5 ​ $ 6 Research and development ​ 102 ​ 162 ​ 202 ​ 320 Total amortization expense ​ $ 104 ​ $ 165 ​ $ 207 ​ $ 326
Schedule of estimated future intangible asset amortization expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remainder of 2024 2025 2026 ​ 2027 ​ 2028 ​ Thereafter Amortization expense ​ $ 209 ​ $ 417 ​ $ 377 ​ $ 368 ​ $ 296 ​ $ 1,375 ​

FAIR VALUE MEASUREMENTS AND S_2

FAIR VALUE MEASUREMENTS AND SHORT-TERM INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of assets and liabilities measured at fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ June 30, 2024 ​ Level 1 Level 2 Level 3 Total Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Omnia 2024 warrants ​ $ — ​ $ — ​ $ 1,191 ​ $ 1,191 Derivative liability ​ ​ — ​ ​ — ​ ​ 98 ​ ​ 98 Total liabilities ​ $ — ​ $ — ​ $ 1,289 ​ $ 1,289 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ December 31, 2023 ​ Level 1 Level 2 Level 3 Total Liabilities ​ ​ ​ ​ Omnia 2023 warrants ​ $ — ​ $ — ​ $ 1,350 ​ $ 1,350 Derivative liability ​ — ​ — ​ 557 ​ 557 Total liabilities ​ $ — ​ $ — ​ $ 1,907 ​ $ 1,907
Detachable warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of the changes in fair value of Level 3 investments	​ ​ ​ ​ ​ Fair value measurement at January 1, 2024 ​ $ 1,350 Fair value measurement adjustment ​ ​ — Fair value measurement at March 31, 2024 ​ $ 1,350 Settlement and release (See Note 6) ​ ​ (1,350) Initial measurement (See Note 6) ​ ​ 1,515 Fair value measurement adjustment ​ ​ (324) Fair value measurement at June 30, 2024 ​ $ 1,191
Schedule of valuation technique used for measuring liability	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2024 ​ 2023 ​ Omnia 2024 warrants ​ Omnia 2023 warrants Risk-free interest rate per year 4.3 % ​ 4.6 % Expected volatility per year 113.1 % ​ 90.9 % Expected dividend yield — % ​ — % Contractual expiration 4.8 years ​ 6.6 years Exercise price $ 2.14 ​ ​ $ 205.248 ​ Stock price $ 0.75 ​ ​ $ 3.04 ​
Derivative liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of the changes in fair value of Level 3 investments	​ ​ ​ ​ ​ Fair value measurement at January 1, 2024 ​ $ 557 Fair value measurement adjustment ​ ​ 82 Fair value measurement at March 31, 2024 ​ $ 639 Fair value measurement adjustment ​ ​ (541) Fair value measurement at June 30, 2024 ​ $ 98
Schedule of valuation technique used for measuring liability	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2024 ​ 2023 Stock price volatility 137.3 % ​ 104.1 % Expected term 1.6 years ​ 2.2 years Stock price $ 0.75 ​ ​ $ 3.04 ​ Risk-free rate 4.8 % ​ 4.3 % Credit rating ​ CCC ​ ​ ​ CCC ​ Market yield (credit risk) ​ 19.8 % ​ ​ 13.8 %

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2024
DEBT
Schedule of long-term debt	Debt related to the Senior Secured Credit Facility and Subordinate Note as of June 30, 2024 and December 31, 2023 consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2024 2023 Senior Secured Credit Facility $ 8,325 $ 11,805 Subordinated Note ​ ​ — ​ ​ 3,554 Unamortized discount on loan and deferred debt issuance costs ​ ​ (779) ​ ​ (1,453) Total debt ​ $ 7,546 ​ $ 13,906 Current portion of long-term debt ​ ​ (1,500) ​ ​ (5,848) Total long-term debt ​ $ 6,046 ​ $ 8,058
Schedule of components and activity of unamortized discount and debt issuance costs	​ ​ ​ ​ ​ ​ ​ Total January 1, 2023 ​ $ - Issuance ​ ​ 8,698 Amortization during the year ​ ​ (2,087) Debt extinguishment charges ​ ​ (5,158) December 31, 2023 ​ ​ 1,453 Amortization during the period ​ ​ (567) March 31, 2024 ​ $ 886 Amortization during the period ​ ​ (107) June 30, 2024 ​ $ 779 ​

NOTES & LOANS PAYABLE (Tables)

NOTES & LOANS PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2024
NOTES & LOANS PAYABLE
Schedule of notes payable balances	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2024 2023 Insurance loans payable ​ $ 877 ​ $ 543 Total current notes and loans payable ​ $ 877 ​ $ 543
Notes and loans payable
NOTES & LOANS PAYABLE
Schedule of future principal payments	​ ​ ​ ​ ​ 2024 ​ $ 622 2025 ​ ​ 255 Total ​ $ 877 ​

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	6 Months Ended
	Jun. 30, 2024
REVENUE RECOGNITION
Schedule of disaggregation of revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ Six Months Ended ​ ​ June 30, ​ ​ June 30, ​ 2024 ​ 2023 ​ ​ 2024 ​ 2023 Contract Manufacturing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cigarettes ​ $ 4,107 ​ $ 3,797 ​ ​ $ 6,867 ​ $ 8,286 Filtered Cigars ​ ​ 3,303 ​ ​ 3,931 ​ ​ ​ 6,927 ​ ​ 8,326 Cigarillos ​ ​ 552 ​ ​ - ​ ​ ​ 552 ​ ​ - Total Contract Manufacturing ​ ​ 7,962 ​ ​ 7,728 ​ ​ ​ 14,346 ​ ​ 16,612 VLN ® ​ ​ (15) ​ ​ 322 ​ ​ ​ 70 ​ ​ 365 Total Product Line Revenues ​ $ 7,947 ​ $ 8,050 ​ ​ $ 14,416 ​ $ 16,977
Schedule of concentration of risk	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ June 30, ​ 2024 ​ 2023 Customer A ​ 34.37 % ​ 29.42 % Customer B ​ 21.37 % ​ 14.34 % Customer C ​ 7.46 % ​ 27.26 % Customer D ​ 20.93 % ​ 17.92 % All other customers ​ 15.87 % ​ 11.06 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, ​ ​ 2024 ​ 2023 Customer A ​ 36.25 % ​ 27.68 % Customer B ​ 22.87 % ​ 16.46 % Customer C ​ 14.16 % ​ 27.15 % Customer D ​ 13.95 % ​ 14.75 % All other customers ​ 12.77 % ​ 13.96 %
Schedule of contract assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2024 2023 Unbilled receivables $ 1,135 $ 1,053 Deferred income ​ ​ (389) ​ ​ (726) Net contract assets ​ $ 746 ​ $ 327

EQUITY- BASED COMPENSATION (Tab

EQUITY- BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2024
EQUITY- BASED COMPENSATION
Schedule of compensation costs related to restricted stock and stock options	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ ​ June 30, ​ June 30, ​ ​ 2024 2023 2024 2023 ​ Sales, general, and administrative ​ $ 36 ​ $ 1,389 ​ $ 176 ​ $ 2,435 ​ Research and development ​ 20 ​ 67 ​ 61 ​ 117 ​ Total equity based compensation - continuing operations ​ ​ 56 ​ ​ 1,456 ​ ​ 237 ​ 2,552 ​ Total equity based compensation - discontinued operations ​ ​ — ​ ​ 30 ​ ​ — ​ 109 ​ Total equity based compensation ​ $ 56 ​ $ 1,486 ​ $ 237 ​ $ 2,661 ​
Summary of changes in unvested restricted stock	​ ​ ​ ​ ​ ​ ​ ​ ​ Unvested RSUs ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant-date ​ Shares Fair Value ​ ​ ​ ​ $ per share Unvested at January 1, 2024 9,681 ​ $ 251.12 Vested ​ (4,234) ​ ​ 233.09 Forfeited ​ (354) ​ ​ 274.16 Unvested at March 31, 2024 ​ 5,093 ​ $ 264.45 Forfeited ​ (3,269) ​ ​ 287.31 Unvested at June 30, 2024 ​ 1,824 ​ $ 221.93
Schedule of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ Aggregate ​ ​ Number of ​ Exercise ​ Contractual ​ Intrinsic ​ Options Price Term Value ​ ​ ​ ​ $ per share ​ ​ ​ ​ ​ ​ Outstanding at January 1, 2024 13,729 ​ $ 421.51 ​ Expired (2,778) ​ ​ 330.74 ​ Forfeited (417) ​ ​ 621.60 ​ Outstanding at March 31, 2024 10,534 ​ $ 437.52 1.4 years $ — Expired ​ (3,929) ​ ​ 570.27 ​ ​ ​ ​ ​ ​ Outstanding at June 30, 2024 ​ 6,605 ​ $ 358.81 ​ 0.4 years ​ $ — Exercisable at June 30, 2024 6,605 ​ $ 358.81 0.4 years $ —

CAPITAL RAISES AND WARRANTS F_2

CAPITAL RAISES AND WARRANTS FOR COMMON STOCK (Tables)	6 Months Ended
	Jun. 30, 2024
CAPITAL RAISE AND WARRANTS FOR COMMON STOCK
Schedule of warrants activity	​ ​ ​ ​ Warrants outstanding at January 1, 2024 ​ 2,984,847 Issued ​ 1,641,535 Exercised ​ (820,769) Warrants outstanding at March 31, 2024 ​ 3,805,613 Issued ​ 4,813,800 Abandoned ​ (2,813) Exercised ​ (1,105,000) Warrants outstanding at June 30, 2024 ​ 7,511,600 ​ The following tables summarizes the Company’s outstanding warrants as of June 30, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ # of warrants outstanding ​ Exercise price ​ Expiration date July 2022 RDO warrants ​ 4,067 ​ $ 492.00 ​ July 25, 2027 Senior Secured Credit Facility - JGB ​ 20,645 ​ $ 205.248 ​ September 3, 2028 July 19, 2023 RDO warrants ​ 28,125 ​ $ 1.69 ​ July 20, 2028 October 2023 CMPO warrants ​ 168,750 ​ $ 1.69 ​ October 19, 2028 Inducement warrants ​ 3,581,213 ​ $ 1.69 ​ February 15, 2029 April 2024 RDO ​ 1,980,000 ​ $ 1.69 ​ June 28, 2029 April 2024 RDO - Placement Agent ​ 118,800 ​ $ 1.69 ​ June 28, 2029 Omnia Pre-Funded ​ 1,150,000 ​ $ 0.00001 ​ NA Omnia 2024 warrants ​ 460,000 ​ $ 2.14 ​ May 1, 2029 ​ ​ 7,511,600 ​ ​ ​ ​ ​

LOSS PER COMMON SHARE (Tables)

LOSS PER COMMON SHARE (Tables)	6 Months Ended
	Jun. 30, 2024
LOSS PER COMMON SHARE
Schedule of computation of basic and diluted loss per common share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 ​ ​ (in thousands, except for per-share data) Net loss from continuing operations ​ $ (2,214) ​ $ (13,708) ​ $ (7,664) ​ $ (24,537) Net (income) loss from discontinued operations ​ ​ 1,102 ​ ​ (6,831) ​ ​ 813 ​ ​ (14,184) Net loss ​ ​ (1,112) ​ ​ (20,539) ​ ​ (6,851) ​ ​ (38,721) Deemed dividends ​ ​ (445) ​ ​ (367) ​ ​ (4,034) ​ ​ (367) Net loss available to common shareholders ​ $ (1,557) ​ $ (20,906) ​ $ (10,885) ​ $ (39,088) Weighted average common shares outstanding - basic and diluted ​ 7,449,706 ​ ​ 878,171 ​ ​ 5,307,471 ​ ​ 862,177 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted loss per common share from continuing operations ​ $ (0.30) ​ $ (15.61) ​ $ (1.44) ​ $ (28.46) Basic and diluted loss per common share from discontinued operations ​ ​ 0.15 ​ ​ (7.78) ​ ​ 0.15 ​ ​ (16.45) Basic and diluted loss per common share from deemed dividends ​ ​ (0.06) ​ ​ (0.42) ​ ​ (0.76) ​ ​ (0.43) Basic and diluted loss per common share ​ $ (0.21) ​ $ (23.81) ​ $ (2.05) ​ $ (45.34) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Anti-dilutive shares are as follows as of June 30: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrants ​ ​ 7,511,600 ​ ​ 151,775 ​ ​ 7,511,600 ​ ​ 151,775 Options ​ ​ 6,605 ​ ​ 20,036 ​ ​ 6,605 ​ ​ 20,036 Restricted stock units ​ ​ 1,824 ​ ​ 24,434 ​ ​ 1,824 ​ ​ 24,434 ​ ​ ​ 7,520,029 ​ ​ 196,245 ​ ​ 7,520,029 ​ ​ 196,245 ​

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2024
COMMITMENTS AND CONTINGENCIES
Schedule of future commitments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Future Commitments ​ Commitment Counter Party Commitment Type 2024 2025 2026 2027 ​ 2028 & After ​ Total License Agreement ​ NCSU ​ Minimum annual royalty ​ $ 100 ​ $ 100 ​ $ 100 ​ $ 100 ​ $ 3,575 ​ $ 3,975 (1) License Agreement ​ NCSU ​ Contract fee ​ ​ 150 ​ ​ 250 ​ ​ 250 ​ ​ — ​ ​ — ​ ​ 650 (2) Consulting Agreements ​ Various ​ Contract fee ​ ​ 928 ​ ​ 373 ​ ​ 146 ​ ​ — ​ ​ — ​ ​ 1,447 (3) Growing Agreements ​ Various ​ Contract fee ​ ​ 149 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 149 (4) ​ ​ ​ ​ ​ ​ $ 1,327 ​ $ 723 ​ $ 496 ​ $ 100 ​ $ 3,575 ​ $ 6,221 ​ ​ ​ ​ (1) The minimum annual royalty fee is credited against running royalties on sales of licensed products. The Company is also responsible for reimbursing NCSU for actual third-party patent costs incurred, including capitalized patent costs and patent maintenance costs. These costs vary from year to year and the Company has certain rights to direct the activities that result in these costs. (2) On November 1, 2023, the Company entered into a license agreement with NCSU for an exclusive sublicensable right and license under specific patent rights and plant variety rights for the field of use in specific licensed territories. Additional milestone fees could be required pending achievement of events pursuant to the agreement. (3) As a requirement for a modified risk tobacco product and condition of the marketing authorization by the FDA, the Company engaged various consulting firms to conduct post-market studies and research. (4) Various R&D growing agreements for tobacco.

NATURE OF BUSINESS AND SUMMAR_3

NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands			3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 02, 2024	Jul. 05, 2023 shares	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Cash flow from operations					$ (6,970)	$ (37,332)
Accumulated deficit			$ (385,558)	$ (378,707)	(385,558)	(378,707)	$ (378,707)
Cash and cash equivalents			1,279	4,433	$ 1,279	4,433	2,058	$ 3,020
Substantial Doubt about Going Concern, within One Year [true false]					true
Reverse stock split, ratio	0.0625	0.0667
Shares issued for reverse stock split | shares		118,207
Deemed dividend related to down-round provisions and anti-dilution provisions			$ 445	$ 367	$ 4,034	367
Provision for credit losses					$ 7	$ 154
Accounting Standards Update 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Provision for credit losses							$ 118

NATURE OF BUSINESS AND SUMMAR_4

NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Change in accrued liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Beginning balance	$ 322	$ 386
Cash payments	(73)	(64)
Ending balance	$ 249	$ 322

NATURE OF BUSINESS AND SUMMAR_5

NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Severance Charges (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Severance Charges
Total severance charges	$ 569	$ 569
Sales, general, and administrative
Severance Charges
Total severance charges	$ 569	$ 569

DISCONTINUED OPERATIONS AND D_3

DISCONTINUED OPERATIONS AND DIVESTITURES - Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
DISCONTINUED OPERATIONS AND DIVESTITURES
Current assets of discontinued operations held for sale	$ 1,058	$ 1,058	$ 1,254
Current liabilities of discontinued operations held for sale	1,397	1,397	3,185
Held for sale
DISCONTINUED OPERATIONS AND DIVESTITURES
Prepaid expenses and other current assets	7	7	9
Property, plant and equipment, net	1,051	1,051	1,207
Other assets			38
Current assets of discontinued operations held for sale	1,058	1,058	1,254
Notes and loans payable - current			2
Operating lease obligations			1,083
Accounts payable	1,279	1,279	2,013
Accrued expenses	75	75	79
Deferred income			8
Other current liabilities	43	43
Current liabilities of discontinued operations held for sale	1,397	1,397	3,185
Net liabilities	(339)	(339)	$ (1,931)
GVB Hemp/Cannabis Business
DISCONTINUED OPERATIONS AND DIVESTITURES
Previously accrued liabilities	$ 1,399	$ 1,551

DISCONTINUED OPERATIONS AND D_4

DISCONTINUED OPERATIONS AND DIVESTITURES - Net loss from discontinued operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other income (expense):
Income (loss) from discontinued operations before income taxes	$ 1,102	$ (6,831)	$ 813	$ (14,184)
Net income (loss) from discontinued operations	1,102	(6,831)	813	(14,184)
GVB Hemp/Cannabis Business | Held for sale
DISCONTINUED OPERATIONS AND DIVESTITURES
Revenues, net		15,377		28,412
Cost of goods sold		16,761		30,990
Gross loss		(1,384)		(2,578)
Operating expenses:
Sales, general and administrative	(387)	4,257	(320)	8,652
Research and development	84	994	132	1,781
Other operating expense, net	(865)	91	(766)	996
Total operating (income) expense	(1,168)	5,342	(954)	11,429
Operating income (loss) from discontinued operations	1,168	(6,726)	954	(14,007)
Other income (expense):
Other income, net		17		38
Interest expense	(66)	(122)	(141)	(215)
Total other expense	(66)	(105)	(141)	(177)
Income (loss) from discontinued operations before income taxes	1,102	(6,831)	813	(14,184)
Net income (loss) from discontinued operations	$ 1,102	$ (6,831)	$ 813	$ (14,184)

DISCONTINUED OPERATIONS AND D_5

DISCONTINUED OPERATIONS AND DIVESTITURES - Cash flow information from discontinued operations (Details) - GVB Hemp/Cannabis Business - Held for sale - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
DISCONTINUED OPERATIONS AND DIVESTITURES
Cash used in operating activities	$ 867	$ 49,882
Cash provided by investing activities	$ 22	1,194
Depreciation and amortization		1,367
Capital expenditures		$ 2,277

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
INVENTORIES
Raw materials	$ 1,975	$ 3,580
Finished goods	689	766
Inventory, Net	$ 2,664	$ 4,346

INTANGIBLE ASSETS, NET - Other

INTANGIBLE ASSETS, NET - Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Jun. 30, 2024
Intangible assets, net
Gross Carrying Amount, Finite-lived	$ 7,078	$ 7,087
Accumulated Amortization, Finite-lived	(3,288)	(4,045)
Impairment , Finite-lived	(552)
Net Carrying Amount, Finite-lived	3,238	3,042
Net Carrying Amount, Indefinite-lived	2,686	2,686
Total intangible assets, net	5,924	5,728
Trademarks
Intangible assets, net
Net Carrying Amount, Indefinite-lived	134	134
MSA signatory costs
Intangible assets, net
Net Carrying Amount, Indefinite-lived	2,202	2,202
License fee for predicate cigarette brand
Intangible assets, net
Net Carrying Amount, Indefinite-lived	350	350
Patent
Intangible assets, net
Gross Carrying Amount, Finite-lived	2,913	2,922
Accumulated Amortization, Finite-lived	(1,622)	(2,185)
Impairment , Finite-lived	(487)
Net Carrying Amount, Finite-lived	804	737
License fee for predicate cigarette brand
Intangible assets, net
Gross Carrying Amount, Finite-lived	4,165	4,165
Accumulated Amortization, Finite-lived	(1,666)	(1,860)
Impairment , Finite-lived	(65)
Net Carrying Amount, Finite-lived	$ 2,434	$ 2,305

INTANGIBLE ASSETS, NET - Aggreg

INTANGIBLE ASSETS, NET - Aggregate intangible asset amortization expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
INTANGIBLE ASSETS, NET
Total amortization expense	$ 104	$ 165	$ 207	$ 326
Cost of goods sold
INTANGIBLE ASSETS, NET
Total amortization expense	2	3	5	6
Research and development
INTANGIBLE ASSETS, NET
Total amortization expense	$ 102	$ 162	$ 202	$ 320

INTANGIBLE ASSETS, NET - Estima

INTANGIBLE ASSETS, NET - Estimated future intangible asset amortization expense (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Estimated future intangible asset amortization expense
Remainder of 2024	$ 209
2025	417
2026	377
2027	368
2028	296
Thereafter	$ 1,375

FAIR VALUE MEASUREMENTS AND S_3

FAIR VALUE MEASUREMENTS AND SHORT-TERM INVESTMENTS - Recurring (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivative liabilities
Assets
Liabilities at fair value	$ 98
Fair Value, Recurring
Assets
Liabilities at fair value	1,289	$ 1,907
Fair Value, Recurring | Omnia 2024 warrants
Assets
Liabilities at fair value	1,191
Fair Value, Recurring | Omnia 2023 warrants
Assets
Liabilities at fair value		1,350
Fair Value, Recurring | Derivative liabilities
Assets
Liabilities at fair value	98	557
Fair Value, Recurring | Fair Value, Inputs, Level 3
Assets
Liabilities at fair value	1,289	1,907
Fair Value, Recurring | Fair Value, Inputs, Level 3 | Omnia 2024 warrants
Assets
Liabilities at fair value	1,191
Fair Value, Recurring | Fair Value, Inputs, Level 3 | Omnia 2023 warrants
Assets
Liabilities at fair value		1,350
Fair Value, Recurring | Fair Value, Inputs, Level 3 | Derivative liabilities
Assets
Liabilities at fair value	$ 98	$ 557

FAIR VALUE MEASUREMENTS AND S_4

FAIR VALUE MEASUREMENTS AND SHORT-TERM INVESTMENTS - Estimated fair values of company's liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Detachable warrants
Estimated fair value of company's liability
Fair value measurement beginning balance	$ 1,350	$ 1,350
Initial measurement	1,515
Settlement and release	(1,350)
Fair value measurement adjustment	(324)
Fair value measurement ending balance	1,191	1,350
Derivative liabilities
Estimated fair value of company's liability
Fair value measurement beginning balance	639	557
Fair value measurement adjustment	(541)	82
Fair value measurement ending balance	$ 98	$ 639

FAIR VALUE MEASUREMENTS AND S_5

FAIR VALUE MEASUREMENTS AND SHORT-TERM INVESTMENTS - Warrant liability - Valuation technique (Details)	Jun. 30, 2024 Y $ / shares	Dec. 31, 2023 $ / shares Y
Risk-free interest rate per year
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Warrants measurement input	4.3	4.6
Risk-free interest rate per year | Derivative liabilities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative Liability, Measurement Input	4.8	4.3
Expected volatility per year
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Warrants measurement input	113.1	90.9
Expected volatility per year | Derivative liabilities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative Liability, Measurement Input	137.3	104.1
Contractual expiration
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Warrants measurement input | Y	4.8	6.6
Contractual expiration | Derivative liabilities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative Liability, Measurement Input | Y	1.6	2.2
Exercise price
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Warrants measurement input	2.14	205.248
Stock price
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Warrants measurement input	0.75	3.04
Stock price | Derivative liabilities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative Liability, Measurement Input	0.75	3.04
Market yield (credit risk) | Derivative liabilities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative Liability, Measurement Input	19.8	13.8

DEBT - (Details)

DEBT - (Details) $ / shares in Units, $ in Thousands									3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 24, 2024 USD ($)	May 10, 2024 USD ($) $ / shares shares	Apr. 29, 2024 USD ($) $ / shares shares	Apr. 08, 2024 USD ($) $ / shares shares	Dec. 22, 2023 USD ($) a	Oct. 16, 2023 USD ($) shares	Jun. 22, 2023 USD ($) $ / shares shares	Mar. 03, 2023 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares		Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) shares	Aug. 31, 2024 USD ($)	May 31, 2024 $ / shares shares	Mar. 31, 2024 shares	Feb. 15, 2024 $ / shares	Sep. 30, 2023	Sep. 03, 2023 $ / shares shares	Jan. 14, 2022 USD ($)
DEBT
Principal balance						$ 3,800
Rate of interest					12%				8.30%		7.88%	8.30%	7.88%						9.38%
Shares represented by warrants | shares						10,418
Warrant outstanding balance | shares									7,511,600			7,511,600		2,984,847			3,805,613
Exercise price | $ / shares																		$ 2.9504
Fair value of warrants									$ 5,791			$ 5,791
Debt issuance costs									1,053			1,053
Debt exit payments									1,053			1,053
Third party debt issuance costs									801			801
Restricted cash								$ 7,500			$ 7,500		$ 7,500
Revenue Debentures agreement amount						$ 18,500
Amended revenue Debentures agreement amount						15,500
Amount required in escrow fund						7,500
Pledged Indebtedness nonmonetary transaction						2,600
Reduction of Put Price amount						2,000
Balance reduction of Debentures						600
Loss on sale of financial asset						895
Warrant aggregate put price						2,500
Note payable amount on the Maturity Date						$ 500
Outstanding principal amount					$ 2,200
Cash payment					1,100
Cash outflow made by buyer					1,100
Unusual or Infrequent Item, or Both, Insurance Proceeds					1,000
Limit for insurance proceeds					$ 5,000
Area of real estate property | a					224
Additional debt reduction					$ 1,000
Payment of GVB Promissory Note												1,500
Current portion of long-term debt									$ 1,500			$ 1,500		$ 5,848
Convertible conversion price | $ / shares			$ 2.14						$ 1			$ 1
Redemption price percentage									20%			20%
Debt extinguishment charges														(5,158)
Derivative liability at fair value amount														$ 557
Converted debt			$ 1,192
Exchange shares of common stock | shares			700,958
Principal, fees and expenses owed under the Debentures												$ 1,674	$ 1,100
Purchased amount shares and warrants									$ 3,913	[1]	$ 4,851
Omnia Capital LP
DEBT
Shares represented by warrants | shares			460,000
Exercise price | $ / shares			$ 2.14
Share Price | $ / shares			$ 2.14
Purchase to warrant			$ 5,228
Cash payment			$ 249
Number of common shares issued | shares			1,150,000
Percentage of ownership to be held by holders to exercise			19.99%
Letter Agreement
DEBT
Lowest Nasdaq minimum price | $ / shares				$ 2.14
Converted debt				$ 428
Exchange shares of common stock | shares				200,000
May 2024 Letter Agreement
DEBT
Aggregate amendment charge		$ 275
May 2024 Exchange Agreement
DEBT
Exercise price | $ / shares		$ 0.00001
Exchange shares of common stock | shares		395,000
Principal, fees and expenses owed under the Debentures		$ 2,328
Share Price | $ / shares		$ 1.69
Registered Direct Offering And Private Placement [Member]
DEBT
Shares represented by warrants | shares				1,980,000
Exercise price | $ / shares				$ 2.14
Purchased amount shares and warrants				$ 4,237
Warrant, term				5 years
Number of common shares issued | shares				1,855,000
Derivative liabilities
DEBT
Liabilities at fair value									$ 98			$ 98
New Warrants | Omnia Capital LP
DEBT
Exercise price | $ / shares			$ 2.675
Outstanding Warrant | May 2024 Exchange Agreement
DEBT
Warrant outstanding balance | shares		5,876,887
Share Price | $ / shares		$ 1.69
Prefunded Warrants | Omnia Capital LP
DEBT
Shares represented by warrants | shares			1,150,000
Exercise price | $ / shares			$ 0.0001
Prefunded Warrants | May 2024 Exchange Agreement
DEBT
Shares represented by warrants | shares		895,000
Prefunded Warrants | Registered Direct Offering And Private Placement [Member]
DEBT
Shares represented by warrants | shares				125,000
Exercise price | $ / shares				$ 0.00001
Placement Agent Warrants
DEBT
Warrant outstanding balance | shares									118,800			118,800				2,098,800
Exercise price | $ / shares				$ 2.675					$ 1.69			$ 1.69				$ 1.69
Warrant, term				5 years
Percentage of payments on placement agent cash fee				6%
Placement agent fee				$ 50,000
Warrants issued to placement agent | shares				118,800
Real estate farm assets | Borrowings
DEBT
Collateral amount									$ 1,000			$ 1,000
Senior secured debentures
DEBT
Principal balance								$ 21,053
Rate of interest								7%
Exit payment								$ 1,053
Original issue discount (as a percent)								5%				5%
Redemption price (as a percent)								5%				5%
Senior secured debentures | Company's option, any time after March 3, 2024
DEBT
Redemption price (as a percent)								3%
Senior secured debentures | Holders option, commencing on March 3, 2024
DEBT
Redemption price (as a percent)								2%
Redemption price percentage															2%
Senior secured debentures | Company's option, commencing August 2024
DEBT
Outstanding principal amount															$ 428
Senior secured debentures | JGB warrants
DEBT
Shares represented by warrants | shares							31,060	20,835
Exercise price | $ / shares							$ 205.248	$ 306
Fair value of warrants								$ 4,475
Debt issuance costs								139
Anti-dilution adjustments on warrants							$ 0
Subordinated note
DEBT
Principal balance								$ 2,865
Subordinated note | Omnia Capital LP
DEBT
Initial measurement			$ 1,515
Cash and non-cash consideration			5,628
Extinguishment charges			$ 400
Subordinated note | Omnia Warrants
DEBT
PIK Interest rate								26.50%
Shares represented by warrants | shares																				2,813
Warrants term																				7 years
Exercise price | $ / shares																				$ 205.248
October note
DEBT
Principal balance								$ 1,000
Rate of interest								12%
January note
DEBT
Principal balance																					$ 1,500
Rate of interest								12%
GVB Promissory note
DEBT
Principal balance					$ 2,000
GVB Promissory note | Borrowings
DEBT
Payment of GVB Promissory Note	$ 1,500
Collateral amount									$ 500			$ 500
Current portion of long-term debt	$ 500
Senior Secured Credit Facility
DEBT
Warrant outstanding balance | shares									20,645			20,645
Exercise price | $ / shares									$ 205.248			$ 205.248
Current portion of long-term debt									$ 1,500			$ 1,500
Senior Secured Credit Facility | Borrowings
DEBT
Collateral amount									1,500			1,500
Senior Secured Credit Facility | Needle Rock Farms | Borrowings
DEBT
Collateral amount									1			1
Senior secured credit facility and subordinate note
DEBT
2024									1,500			1,500
2025									$ 6,046			$ 6,046
[1] Includes exercises of 125,000 shares of prefunded warrants during the period ended June 30, 2024.

DEBT - Long-term debt (Details)

DEBT - Long-term debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
DEBT
Unamortized discount on loan and deferred debt issuance costs	$ (779)	$ (886)	$ (1,453)	$ (8,698)
Total	7,546		13,906
Current portion of long-term debt	(1,500)		(5,848)
Long-term debt	6,046		8,058
Senior Secured Credit Facility
DEBT
Total debt	8,325		11,805
Current portion of long-term debt	$ (1,500)
Subordinated Note
DEBT
Total debt			$ 3,554

DEBT - Unamortized discount and

DEBT - Unamortized discount and deferred debt issuance costs (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
DEBT
Issuance	$ 886	$ 1,453	$ 8,698
Amortization during the period	(107)	(567)	(2,087)
Debt extinguishment charges			(5,158)
Issuance	$ 779	$ 886	$ 1,453

NOTES & LOANS PAYABLE (Details)

NOTES & LOANS PAYABLE (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2023	Dec. 22, 2023
NOTES & LOANS PAYABLE
Directors And Officers insurance, policy term	1 year		1 year
Annual premium	$ 866		$ 1,626
Premium paid	147		285
Proceeds from note payable issuance	$ 719	$ 143	$ 1,341
Debt instrument term	10 months	6 months	10 months
Rate of interest	8.30%	9.38%	7.88%		12%
Insurance loans payable	$ 877			$ 543
Total current notes and loans payable	$ 877			$ 543

NOTES & LOANS PAYABLE - Future

NOTES & LOANS PAYABLE - Future principal payments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
NOTES & LOANS PAYABLE
Total	$ 7,546	$ 13,906
Notes and loans payable
NOTES & LOANS PAYABLE
2024	622
2025	255
Total	$ 877

REVENUE RECOGNITION (Details)

REVENUE RECOGNITION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
REVENUE RECOGNITION
Allowance amount for discounts or returns and allowances			$ 0		$ 0
Unbilled receivables	$ 1,135		1,135		1,053
Deferred income	(389)		(389)		(726)
Net contract assets	$ 746		746		$ 327
Revenue recorded in contract asset			$ 726	$ 688
Maximum
REVENUE RECOGNITION
Payment period			30 days
Tobacco
REVENUE RECOGNITION
Revenue Recognized Over Time, Percent	66%	67%	63%	66%

REVENUE RECOGNITION - Net reven

REVENUE RECOGNITION - Net revenue by product line (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
REVENUE RECOGNITION
Total Sales	$ 7,947	$ 8,050	$ 14,416	$ 16,977
Contract Manufacturing
REVENUE RECOGNITION
Total Sales	7,962	7,728	14,346	16,612
Cigarettes
REVENUE RECOGNITION
Total Sales	4,107	3,797	6,867	8,286
Filtered Cigars
REVENUE RECOGNITION
Total Sales	3,303	3,931	6,927	8,326
Cigarillos
REVENUE RECOGNITION
Total Sales	552		552
VLN
REVENUE RECOGNITION
Total Sales	$ (15)	$ 322	$ 70	$ 365

REVENUE RECOGNITION - Concentra

REVENUE RECOGNITION - Concentration of risk (Details) - Revenue from Contract with Customer Benchmark - Customer Concentration Risk	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Customer A
Disaggregation of Revenue
Concentration Risk, Percentage	34.37%	29.42%	36.25%	27.68%
Customer B
Disaggregation of Revenue
Concentration Risk, Percentage	21.37%	14.34%	22.87%	16.46%
Customer C
Disaggregation of Revenue
Concentration Risk, Percentage	7.46%	27.26%	14.16%	27.15%
Customer D
Disaggregation of Revenue
Concentration Risk, Percentage	20.93%	17.92%	13.95%	14.75%
All other customers
Disaggregation of Revenue
Concentration Risk, Percentage	15.87%	11.06%	12.77%	13.96%

EQUITY- BASED COMPENSATION (Det

EQUITY- BASED COMPENSATION (Details) - 2021 Plan - shares	Jun. 28, 2024	Jun. 30, 2024
EQUITY BASED COMPENSATION
Additional shares authorized during the period	5,000,000
Number of shares remaining for future awards		5,707,584

EQUITY- BASED COMPENSATION - Co

EQUITY- BASED COMPENSATION - Compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
EQUITY BASED COMPENSATION
Total equity based compensation - continuing operations	$ 56	$ 1,456	$ 237	$ 2,552
Total equity based compensation - discontinued operations		30		109
Total equity based compensation	56	1,486	237	2,661
Sales, general, and administrative
EQUITY BASED COMPENSATION
Total equity based compensation - continuing operations	36	1,389	176	2,435
Research and development
EQUITY BASED COMPENSATION
Total equity based compensation - continuing operations	$ 20	$ 67	$ 61	$ 117

EQUITY- BASED COMPENSATION - RS

EQUITY- BASED COMPENSATION - RSUs (Details) - Restricted Stock Units - USD ($) $ / shares in Units, shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2024
RSUs, Number of shares
Unvested, Beginning Balance	5,093	9,681	9,681
Vested		(4,234)
Forfeited	(3,269)	(354)
Unvested, Ending Balance	1,824	5,093	1,824
RSUs, Weighted average grant-date fair value
Nonvested, Weighted Average Grant Date Fair Value, Beginning Balance	$ 264.45	$ 251.12	$ 251.12
RSUs vested, grant-date fair value		233.09
RSUs forfeited, grant-date fair value	$ 287.31	274.16
Nonvested, Weighted Average Grant Date Fair Value, Ending Balance		$ 264.45
Fair value of RSUs that vested during the period	$ 221.93		$ 9,000
Unrecognized compensation, RSUs	$ 335,000		$ 335,000
Unrecognized compensation, period for recognition			1 year 7 months 6 days

EQUITY- BASED COMPENSATION - St

EQUITY- BASED COMPENSATION - Stock option activity (Details) - $ / shares shares in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Weighted Average Remaining Contractual Term
Options exercisable, End of Period, weighted average remaining contractual term	4 months 24 days
Employee Stock Option [Member]
Number of Options
Outstanding, Beginning of Period	10,534	13,729
Expired	(3,929)	(2,778)
Forfeited		(417)
Outstanding, End of Period	6,605	10,534
Exercisable, number, End of Period	6,605
Options, Weighted Average Exercise Price
Options, Beginning of Period, weighted average exercise price	$ 437.52	$ 421.51
Options expired, weighted average exercise price	570.27	330.74
Options forfeited, weighted average exercise price		621.60
Options, End of Period, weighted average exercise price	358.81	$ 437.52
Options exercisable, End of Period, weighted average exercise price	$ 358.81
Weighted Average Remaining Contractual Term
Options, End of Period, weighted average remaining contractual term		1 year 4 months 24 days
Options exercisable, End of Period, weighted average remaining contractual term	4 months 24 days

CAPITAL RAISE AND WARRANTS FOR

CAPITAL RAISE AND WARRANTS FOR COMMON STOCK - Warrant Inducement Offering (Details) - USD ($) $ / shares in Units, $ in Thousands				2 Months Ended	3 Months Ended				6 Months Ended
	May 10, 2024	Apr. 29, 2024	Apr. 08, 2024	Feb. 15, 2024	Jun. 30, 2024		Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	May 31, 2024	Apr. 30, 2024	Dec. 31, 2023	Nov. 28, 2023	Oct. 16, 2023
CAPITAL RAISE AND WARRANT ACTIVITY
Stock issued in connection with capital raise					$ 3,913	[1]		$ 4,851
Shares represented by warrants															10,418
Exercised					(1,105,000)		(820,769)
Warrant outstanding balance					7,511,600		3,805,613		7,511,600				2,984,847
Exercise price				$ 2.9504
Issued					4,813,800		1,641,535
Abandoned					2,813
Fair value of Warrants					$ 5,791				$ 5,791
Gross proceeds from exercise of stock warrants									2,245
Change in fair value of warrant liabilities									$ (324)	$ 723
Converted debt		$ 1,192
Exchange shares of common stock		700,958
Convertible conversion price		$ 2.14			$ 1				$ 1
Registered Direct Offering
CAPITAL RAISE AND WARRANT ACTIVITY
Net proceeds from direct offering									$ 4,237	5,273
Payments of Stock Issuance Costs									$ 324	$ 422
Offering
CAPITAL RAISE AND WARRANT ACTIVITY
Stock issued in connection with capital raise			$ 4,237
Stock issued in connection with capital raise (in shares)			1,855,000
Shares represented by warrants			1,980,000
Exercise price			$ 2.14
Warrant, term			5 years
May 2024 Exchange Agreement
CAPITAL RAISE AND WARRANT ACTIVITY
Exercise price	$ 0.00001
Share Price	$ 1.69
Exchange shares of common stock	395,000
Inducement warrants
CAPITAL RAISE AND WARRANT ACTIVITY
Shares represented by warrants				820,769
Warrant outstanding balance				3,581,213	3,581,213				3,581,213					1,986,229
Exercise price					$ 1.69				$ 1.69		$ 1.69	$ 2.14		$ 8.40
Lowest Nasdaq minimum price				$ 2.8237
Issued				1,641,535
Fair value of Warrants				$ 3,441
Gross proceeds from exercise of stock warrants				2,421
Change in fair value of warrant liabilities				$ 148
Percentage of public offering accompanying common warrant														200%
Prefunded Warrants | Offering
CAPITAL RAISE AND WARRANT ACTIVITY
Shares represented by warrants			125,000
Exercise price			$ 0.00001
Prefunded Warrants | May 2024 Exchange Agreement
CAPITAL RAISE AND WARRANT ACTIVITY
Shares represented by warrants	895,000
Placement Agent Warrants
CAPITAL RAISE AND WARRANT ACTIVITY
Net proceeds from direct offering			$ 3,913
Warrant outstanding balance					118,800				118,800		2,098,800
Exercise price			$ 2.675		$ 1.69				$ 1.69		$ 1.69
Warrant, term			5 years
Percentage of payments on placement agent cash fee			6%
Warrants issued to placement agent			118,800
Placement agent fee			$ 50,000
Percentage of placement agent additional cash fee			6%
Outstanding Warrant | May 2024 Exchange Agreement
CAPITAL RAISE AND WARRANT ACTIVITY
Warrant outstanding balance	5,876,887
Share Price	$ 1.69
[1] Includes exercises of 125,000 shares of prefunded warrants during the period ended June 30, 2024.

CAPITAL RAISE AND WARRANTS FO_2

CAPITAL RAISE AND WARRANTS FOR COMMON STOCK - Schedule of warrant activity (Details) - $ / shares	2 Months Ended	3 Months Ended
	Feb. 15, 2024	Jun. 30, 2024	Mar. 31, 2024	May 31, 2024	Apr. 30, 2024	Apr. 08, 2024	Nov. 28, 2023
Class of Warrant or Right [Line Items]
Warrant outstanding beginning balance	2,984,847	3,805,613	2,984,847
Issued		4,813,800	1,641,535
Abandoned		(2,813)
Exercised		(1,105,000)	(820,769)
Warrant outstanding ending balance		7,511,600	3,805,613
Exercise price	$ 2.9504
Senior Secured Credit Facility - JGB
Class of Warrant or Right [Line Items]
Warrant outstanding ending balance		20,645
Exercise price		$ 205.248
July 2022 RDO warrants
Class of Warrant or Right [Line Items]
Warrant outstanding ending balance		4,067
Exercise price		$ 492
July 19, 2023 RDO warrants
Class of Warrant or Right [Line Items]
Warrant outstanding ending balance		28,125
Exercise price		$ 1.69
October 2023 CMPO warrants
Class of Warrant or Right [Line Items]
Warrant outstanding ending balance		168,750
Exercise price		$ 1.69
Inducement warrants
Class of Warrant or Right [Line Items]
Issued	1,641,535
Warrant outstanding ending balance	3,581,213	3,581,213
Exercise price		$ 1.69		$ 1.69	$ 2.14		$ 8.40
April 2024 RDO
Class of Warrant or Right [Line Items]
Warrant outstanding ending balance		1,980,000
Exercise price		$ 1.69
April 2024 RDO - Placement Agent
Class of Warrant or Right [Line Items]
Warrant outstanding ending balance		118,800
Exercise price		$ 1.69		$ 1.69		$ 2.675
Omnia Pre-Funded
Class of Warrant or Right [Line Items]
Warrant outstanding ending balance		1,150,000
Exercise price		$ 0.00001
Omnia 2024 warrants
Class of Warrant or Right [Line Items]
Warrant outstanding ending balance		460,000
Exercise price		$ 2.14

LOSS PER COMMON SHARE (Details)

LOSS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
EARNINGS PER SHARE
Net loss from continuing operations	$ (2,214)		$ (13,708)		$ (7,664)	$ (24,537)
Net income (loss) from discontinued operations	1,102		(6,831)		813	(14,184)
Net loss	(1,112)	$ (5,739)	(20,539)	$ (18,182)	(6,851)	(38,721)
Deemed dividends	(445)		(367)		(4,034)	(367)
Net loss available to common shareholders	$ (1,557)		$ (20,906)		$ (10,885)	$ (39,088)
Weighted average common shares outstanding - basic (in shares)	7,449,706		878,171		5,307,471	862,177
Weighted average common shares outstanding - diluted (in shares)	7,449,706		878,171		5,307,471	862,177
Basic loss per common share from continuing operations (in dollars per share)	$ (0.30)		$ (15.61)		$ (1.44)	$ (28.46)
Diluted loss per common share from continuing operations (in dollars per share)	(0.30)		(15.61)		(1.44)	(28.46)
Basic loss per common share from discontinued operations (in dollars per share)	0.15		(7.78)		0.15	(16.45)
Diluted loss per common share from discontinued operations (in dollars per share)	0.15		(7.78)		0.15	(16.45)
Basic loss per common share from deemed dividends	(0.06)		(0.42)		(0.76)	(0.43)
Diluted loss per common share from deemed dividends	(0.06)		(0.42)		(0.76)	(0.43)
Basic loss per common share (in dollars per share)	(0.21)		(23.81)		(2.05)	(45.34)
Diluted loss per common share (in dollars per share)	$ (0.21)		$ (23.81)		$ (2.05)	$ (45.34)
Effect of dilutive securities:
Anti-dilutive shares	7,520,029		196,245		7,520,029	196,245
Warrants
Effect of dilutive securities:
Anti-dilutive shares	7,511,600		151,775		7,511,600	151,775
Options
Effect of dilutive securities:
Anti-dilutive shares	6,605		20,036		6,605	20,036
Restricted Stock Units
Effect of dilutive securities:
Anti-dilutive shares	1,824		24,434		1,824	24,434

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Licenses (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Future Commitments
2024	$ 1,327
2025	723
2026	496
2027	100
2028 & After	3,575
Contractual Obligation, Total	6,221
License Agreement | North Carolina State University
Future Commitments
2024	100
2025	100
2026	100
2027	100
2028 & After	3,575
Contractual Obligation, Total	3,975
License Agreement | North Carolina State University
Future Commitments
2024	150
2025	250
2026	250
Contractual Obligation, Total	650
Consulting Agreements | Various
Future Commitments
2024	928
2025	373
2026	146
Contractual Obligation, Total	1,447
Growing Agreements | Various
Future Commitments
2024	149
Contractual Obligation, Total	$ 149

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - MRTP, litigation (Details) $ in Thousands	Oct. 23, 2023 USD ($)	Jul. 19, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jan. 21, 2019 item
COMMITMENTS AND CONTINGENCIES
Number of counts | item				3
Damages sought, Value	$ 3,000	$ 9,000
Maximum
COMMITMENTS AND CONTINGENCIES
Accrual of an additional amount			$ 1,314

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Insurance recoveries (Details) - USD ($) $ in Thousands				1 Months Ended
	Dec. 22, 2023	Oct. 23, 2023	Jul. 19, 2023	Nov. 30, 2022	Dec. 05, 2023
COMMITMENTS AND CONTINGENCIES
Insurance settlements receivable					$ 768
Insurance proceeds	$ 1,000
Damages sought, Value		$ 3,000	$ 9,000
Grass Valley fire
COMMITMENTS AND CONTINGENCIES
Insurance proceeds				$ 5,000

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES - Needle Rock Farms and KeyGene Dispute (Details) - KeyGene Dispute - KeyGene - USD ($) $ in Thousands	Jan. 08, 2024	Mar. 20, 2022
Other Commitments [Line Items]
Collaboration research agreement		3 years
Payment amount	$ 1,885
Services performed	$ 881