2024: Reset. Refocus. Relaunch 

This past year was all about setting the foundation. Here's what we have accomplished:

• We went all-in on tobacco. Divested out of hemp, hops, or cannabis.
• Streamlined our operations, diminished significant cash burn.
• Slashed ~$18M in debt, strengthening our balance sheet 
• Gave VLN® a bold new look and feel with a robust go to market strategy.
• Developed retail partnerships that'll relaunch VLN® in thousands of stores across the U.S.
  
   

Vertical Integration, Strategic Expansion

Our core contract manufacturing (CMO) business is the backbone of our operations. It's high-volume, low-margin—and absolutely essential to our success. We provide full turnkey services to secondary and tertiary tobacco brands providing manufacturing, compliance, and supply chain. They handle the brand. We handle everything else for them.

Here's why CMO is a major strategic win:

• It gives us a vertically integrated platform for our core product—we control the manufacturing, distribution, and marketing of VLN® and other proprietary products.
• With new long-term, properly priced contracts, CMO provides revenue that addresses all of our overhead and provides stability to our operations.
• It opens doors. We're leveraging customer partnerships and brand equity to launch VLN® and new partner brands—growing into new channels and stores.
  
   

Starting Q2 2025, we're hitting the market with our bold new branding, featuring:

• VLN® Gold
• VLN® Red
• VLN® Green (Menthol)
  
   

Already in 5,000+ stores—and aiming for a growing slice of the 272,000-stores nationwide.

We're also launching partner-branded VLN® products—a win-win. Our CMO customers get a premium, high-margin SKU and we get a fast track into new stores, new audiences, and greater awareness. Think of it like your favorite beverage offering a low-proof version: same vibe, less buzz, new category.

And that's exactly where we're headed: building the Very Low Nicotine Content (VLNC) category. Just like low-proof spirits carved out their space, VLN® will stand on its own shelf—with its own story.

2025 and Beyond: Time to Grow

We've stabilized. We've streamlined. And we've struck the match and created the spark.

This year is about scale—and profit. VLN® is our statement. Our CMO business is funding our freedom. We've got the strategy, team, and partnerships to finally take 22nd Century into self-sustaining territory.

We're not just building a brand. We're creating a whole new lane in the $85 Billion Dollar industry—and bringing smokers options with VLN®.