Edited Transcript of XXII earnings conference call or presentation 8-May-19 8:00pm GMT

Thomson Reuters StreetEvents - finance.yahoo.com Posted 6 years ago
. - President, CEO & Director [39]" data-reactid="254">Henry Sicignano, 22nd Century Group, Inc. - President, CEO & Director [39]

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It's already different, sir. I've already publicly announced that we've had some 20 conversations with the FDA. I publicly announced that we spent more than $10 million on this application, and that we've used all of the guidance that the FDA gave us on our first application in the second application. I've also told you that I -- let's count how many companies in the world, how many multinational tobacco companies have been granted this amount of tobacco products.

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Unidentified Shareholder, [40]

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Henry, I'm only worried about 22nd Century which I've been invested in for 7 years and I've heard all the things that you discussed, all of this, Henry. From the hemp side, I don't hear anything about Virginia or University of Virginia, I don't hear about anything from Anandia. I haven't heard when you guys announced about -- even the -- what is that? You guys are going to start something in North Carolina and Virginia. I think it was iHemp Platform that 2 of your executives were in. You guys don't even mention anything like that anymore. I'm interested in new things. I'm not interested in the same baloney that I hear every conference call. Everyone takes a global risk, anyone can just understand that. I'm not learning anything new.

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Henry Sicignano, 22nd Century Group, Inc. - President, CEO & Director [41]

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Okay, well, you're learning as much new things as I'm allowed to publicly disclose, sir. But the first thing I suggest you do is you read that 10-K very carefully because I think we've done a pretty good job of disclosing a lot. Pay a lot of attention to our press releases and understand that we spend as much money and as much time as Reynolds did on their modified risk application. And I'm very, very proud of it and optimistic that we might be the first one authorized in the world. Now I wish you would pay...

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Unidentified Shareholder, [42]

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You should not be proud of you guys getting raises without our share price going up. That's ridiculous.

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Henry Sicignano, 22nd Century Group, Inc. - President, CEO & Director [43]

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Well, I understand your sentiment. And if you feel that way, maybe you want to sell your shares.

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Unidentified Shareholder, [44]

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You shouldn't say that to a shareholder that has a lot of family in your company that's listening to us, Henry. That's ridiculous. Because if I lived in New York, I definitely would have went to your shareholders' meeting.

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Henry Sicignano, 22nd Century Group, Inc. - President, CEO & Director [45]

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You'd be welcome to attend, sir. You'd be welcome to attend.

I think I'm very proud of what we've accomplished. I believe that our application is a very strong one and could be the first MRTP approved by the FDA. So that's our focus. We've worked very hard on that. I'm very proud of the application. And I think that's where you should focus as well. In terms of hemp and cannabis, we've done quite a bit of work there. Our IP status is widely regarded as a world-leading status. The Keygene relationship that we've announced, the partnership with Keygene, I think will bring us to a place with cannabinoids, much faster than we were able to get to that place with nicotine in terms of controlling that genetic pathway. So those are the thoughts, and that's what we're very proud of, that's what we're focused on. I think our successes will lead and the share price will follow. So that's the best I can tell you. And my family and friends are also invested in this company. So we're in it for the long haul, and I hope you'll be satisfied when we do achieve some successes with the FDA and with our IP and cannabis.

So with that, I think I'll say thank you very much, and we look forward to talking to you next quarter. Good night.

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Operator [46]

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Thank you, ladies and gentlemen. This concludes today's teleconference. You may now disconnect.