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SEGMENT AND GEOGRAPHIC INFORMATION | 9 Months Ended
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Sep. 30, 2025
SEGMENT AND GEOGRAPHIC INFORMATION |
SEGMENT AND GEOGRAPHIC INFORMATION | ​ NOTE 13. SEGMENT AND GEOGRAPHIC INFORMATION The Company has organized its business as a single reportable segment (“Reporting Segment”), tobacco, as it operates and derives all revenues from its tobacco operations and products. This segment structure reflects the financial information and reports used by the Company’s management, specifically its Chief Operating Decision Maker (“CODM”), to make decisions regarding the Company’s business, including resource allocations and performance assessments. The Company’s Chief Executive Officer serves as the CODM. The accounting policies of the Reporting Segment are the same as those described in the summary of significant accounting policies. See Note 1 for additional information about the Company's business and significant accounting policies. Consolidated net income (loss) from continuing operations, as presented on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) is a metric utilized by the CODM to assess the Reporting Segment's performance and allocate resources. Total consolidated assets, excluding assets held for sale, as presented on the Company's Consolidated Balance Sheets are used to measure the Reporting Segment's assets. The CODM uses Consolidated net income (loss) from continuing operations to evaluate profitability generated from segment assets in determining the strategic decisions of the Company with respect to utilizing its assets. Consolidated net income (loss) from continuing operations is also used to monitor budget versus actual results. The following table presents revenues and significant segment expenses from continuing operations for the three and nine months ended September 30, 2025 and 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
Consolidated net revenue | ​ | $ | 4,011 | ​ | $ | 5,946 | ​ | $ | 14,050 | ​ | $ | 20,361
Less: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of goods sold | ​ | ​ | 2,432 | ​ | ​ | 2,977 | ​ | ​ | 7,930 | ​ | ​ | 10,789
Excise taxes | ​ | ​ | 2,513 | ​ | ​ | 3,432 | ​ | ​ | 8,049 | ​ | ​ | 10,324
Selling, general and administration | ​ | ​ | 1,849 | ​ | ​ | 2,527 | ​ | ​ | 5,766 | ​ | ​ | 7,752
Research and development | ​ | ​ | 84 | ​ | ​ | 137 | ​ | ​ | 262 | ​ | ​ | 610
Depreciation and amortization | ​ | ​ | 234 | ​ | ​ | 249 | ​ | ​ | 693 | ​ | ​ | 762
Other segment items (1) | ​ | ​ | 128 | ​ | ​ | (102) | ​ | ​ | 240 | ​ | ​ | (456)
Interest expense | ​ | ​ | 534 | ​ | ​ | 311 | ​ | ​ | 1,443 | ​ | ​ | 1,828
Segment net loss from continuing operations | ​ | $ | (3,763) | ​ | $ | (3,585) | ​ | $ | (10,333) | ​ | $ | (11,248)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) Other segment items include: other operating expenses, other (income) expense, interest income, and provision for income taxes.
​ The Company recognized the following depreciation and amortization costs from continuing operations: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
Cost of goods sold | ​ | $ | 123 | ​ | $ | 123 | ​ | $ | 366 | ​ | $ | 388
Selling, general and administration | ​ | ​ | — | ​ | ​ | 20 | ​ | ​ | — | ​ | ​ | 61
Total depreciation from continuing operations | ​ | $ | 123 | ​ | $ | 143 | ​ | $ | 366 | ​ | $ | 449
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
Cost of goods sold | ​ | $ | 2 | ​ | $ | 3 | ​ | $ | 8 | ​ | $ | 8
Research and development | ​ | ​ | 109 | ​ | ​ | 103 | ​ | ​ | 320 | ​ | ​ | 305
Total amortization from continuing operations | ​ | $ | 111 | ​ | $ | 106 | ​ | $ | 328 | ​ | $ | 313
​ ​ Geographic Area Information ​ For the three and nine months ended September 30, 2025 and 2024, substantially all third-party sales of product are shipped to customers in the United States. Additionally, as of September 30, 2025 and December 31, 2024, all long-lived assets are physically located or domiciled in the United States.

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- Definition The entire disclosure for reporting segments including data and tables. 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