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Rich must not be aware of pennyland investors
Do you mind sharing your questions with the board? Were they not answered in the pr?
http://www.iconicbrandsusa.com/2017/news/iconic-brands-debt-settlement-news/
AMITYVILLE, NY–(Marketwired – Apr 27, 2017) – Iconic Brands, Inc. ( OTC PINK : ICNB ) today further clarified the definitive settlement terms representing over 80% of the company’s debt, as well announced the company expects the balance to be settled shortly.
Under the prior terms, the company’s existing debt could have converted into an unknown and potentially exorbitant amount of common shares and interest would have continued to accrue at a relatively rapid rate. This coupled with the potential to disrupt the daily flow of the market for the Company’s shares has now been eliminated.
Under the agreement, the Company negotiated a final conversion into a fixed number of shares totaling four hundred and eighty two million compared to what could have potentially been billions of shares, as well received concessions of close to one hundred and twenty five thousand dollars tendered by the note holders, and all interest has ceased. This will eliminate over one million dollars in debt from the company balance sheet. Importantly, the agreement further stipulates that all shares be placed with a professional institutional broker, where using their exclusive discretion, a maximum aggregate of ten percent of the daily volume can never be exceeded.
This agreement brings finality to the ongoing discussions with these Holders and additional certainty to the capital structure such that the Company can now consolidate all assets under Iconic Brands. The Company can now more confidently negotiate any future transactions, be it mergers, acquisitions, or development of future brands and be in an easier position to become audited and fully reporting.
Mr. Richard DeCicco stated, “I am pleased to have reached a definitive and final agreement and compromise with the majority of our debt holders; it is their confidence in the longer-term value of Iconic Brands that allowed us to finalize this transaction and move forward. Corporately we have amazing developments forthcoming in the days, weeks and months ahead that I’m confident will add great value to our company.”
On2_addict
He is not a mod, he didn't sticky it, and I don't have PM
Maybe we should un-sticky #122531 since they took down the instagram and replace it with this #123698 or #123693
yeah nice article, I was just about to post it
Iconic Brands Inc (OTCMKTS:ICNB) was featured last time in this piece, wherein we explained that long traders, who bought in the December run, were taking some profits at the moment, making the share price decline a bit. The share price found support at the $0.01 level. Additionally, the negotiations with debt holders, the work of the audit firms regarding the Q1 2017 report, and the annual report were noted, which we expected. In this new update, we will assess the reports, which were released recently, and we will check the company’s news to explain the recent price action. Shareholders seem to be still accumulating shares. Have a look:
Source
Recent Developments
Let’s start first with the financial figures, which market participants could find here. The most relevant items in the income statement (annually) are mentioned below. Note the large and positive net income that was reported thanks to a derivative liability:
Sales: $300,889
Gross profit: $123,221
Net income: $3,049,078
We went to check how the company explains the net income. Here is the explanation:
“Accordingly, we recorded the $7,315,935 fair value of the embedded conversion features at December 31, 2016 as a derivative liability. The $3,171,712 decrease in the fair value of the derivative liability from $7,315,935 at December 31, 2016 to $4,144,223 at March 31, 2017 was credited to income from derivative liability.” Source
What’s our take? It is very good news that we don’t think the market celebrated. It was written in a small text hidden in the annual report, and the market looks to have not priced it in. The release of the annual report was made on March 31, 2017, but the share price did not react to it.
Source
Let’s now review the press releases. In our opinion, the most relevant news was that the company finally obtained an agreement to convert over 80% of the company’s debt. According to a recent press release that was put out on April 27, 2017, the company negotiated the terms of a previous deal with the debt holders:
“the Company negotiated a final conversion into a fixed number of shares totaling four hundred and eighty two million compared to what could have potentially been billions of shares, as well received concessions of close to one hundred and twenty five thousand dollars tendered by the note holders, and all interest has ceased.” Source
The new deal will eliminate one million dollars in debt from the company’s balance sheet by issuing shares. However, if the company can grow its business, it will offset the dilution. Mr. Richard DeCicco explained:
“I am pleased to have reached a definitive and final agreement and compromise with the majority of our debt holders; it is their confidence in the longer-term value of Iconic Brands that allowed us to finalize this transaction and move forward. Corporately we have amazing developments forthcoming in the days, weeks and months ahead that I’m confident will add great value to our company.” Source
We are expecting some news from the M&A consultants that the company hired in March and noted in a press release. This team may be looking for another company to acquire ICNB. If a buyer shows up, the market will push up the share price. In our opinion, now that the company has closed the negotiations with debt-holders, this scenario is even more likely. This is what the company said in the news:
“Additionally the company will be engaging a registered investment banking firm to advise on mergers, acquisitions and financing. The Company looks for this to be finalized over the next 2 weeks.” Source
On the brand front, the most recent news shows that the company is growing. On May 26, 2017, it put out that the company was able to successfully ship to most markets during what qualified as off-season for Prosecco and the new brand launches in general. Additionally, on May 2, 2017, we got to know here that Earth Fare Markets’ chain of stores will be delivering the company’s products. This means that the Bellissima Prosecco will be sold at 40 locations more in 11 states. What does it mean for the brand? It means that the revenue line will increase, and the share price should ultimately react by creeping up as more market participants learn about it. On the top of it, we also found out that the company closed an agreement with Buca Di Beppo. Thus, the brand commenced to be served in the restaurants from May 22nd. Mr. Richard DeCicco said the following:
“We’re working around the clock expanding the brand. I will be making presentations to the LCBO in Toronto in early June, and I’m currently working with colleagues in the UK for entry into the marketplace, as well as negotiating with Asian distributors. These are exciting times for our company and our brand.” Source
Conclusion
ICNB continues to positive steps as an emerging growth company. As expected, the company closed a deal with debt holders. Consequently, the financial risk of the firm was drastically reduced, making the company more attractive to potential suitors. If the company is acquired, the market will push up the shares. Additionally, the company is also growing organically. According to recent communications, the distribution chain is growing and revenues will as well. Finally, the last earnings report showed immense increase in the net income that we don’t think the market celebrated. To sum up, there is a lot to like in the company, and it may surprise soon. We will be updating our subscribers as soon as we know more. For the latest updates on ICNB, sign up below!
Disclosure: We have no position in ICNB and have not been compensated for this article.
https://www.insiderfinancial.com/iconic-brands-inc-otcmktsicnb-consolidating-before-heading-higher/123511/
Nice
I guess the excitement is over for now
I wonder why this is a priority. I think all OTC investors are the same...speaking from experience
Wow I wonder why they took the video down smh
also I remember it had over 5000 views, I was just checking to see if the number grew
maybe we should get screenshots over everything
If there is a huge block of shareholders they don't post here anymore
Iconic Brands/ICNB News -- Up List Agenda; Bellissima Prosecco at Costco for Hampton Memorial Day Holidays
http://www.marketwired.com/press-release/iconic-brands-icnb-news-up-list-agenda-bellissima-prosecco-costco-hampton-memorial-day-2218774.htm
AMITYVILLE, NY--(Marketwired - May 26, 2017) - Iconic Brands, Inc. (OTC PINK: ICNB) today announced they are finalizing with both new counsel and auditors to become fully reporting and up list. This is a prime objective and the company expects the professionals to be engaged formally by next week.
On the brand front the company has successfully built a distribution pipeline for the Bellissima Prosecco line, and has successfully shipped to most markets during what qualified as off-season for Prosecco and new brand launches in general. This speaks volumes to the product's demand and acceptance. The brand expansion is fully under way on all fronts. The sales for the first quarter were a bit below what the company expected. This was due to certain delays in shipments during the winter season. In fact the company was forced to fly in a few shipments to fill orders. The shipping process and Direct Import platforms are now in full operation, and the summer season is under way, and the company continues to see significant industry wholesale and retail placements come on board. As an example Bellissima Prosecco is now available at Costco in Riverhead, NY, and the gateway to the Hamptons. Stop and grab a case to kick off your Memorial Day Weekend. This key placement is an indication of our distribution channels.
Mr. Richard DeCicco stated, "We're working around the clock expanding the brand. I will be making presentations to the LCBO in Toronto in early June, and I'm currently working with colleagues in the UK for entry into the marketplace, as well as negotiating with Asian distributors. These are exciting times for our company and our brand."
The company wishes to express its gratitude to our shareholder base which has been extremely supportive of our brand, acting as a Bellissima army letting people know about our product. Christie Brinkley is setting out promoting the brand in grand fashion this summer, and just had a wonderful segment on Access Hollywood on NBC last week and again last night, with many more appearances forthcoming. The growth and acceptance the brand has seen in the first few months to market has been spectacular, and with patience and hard work we look forward to returning great value to our shareholder base.
Please visit our website www.bellissimaprosecco.com and join the mailing list and see our product availability map: Christie's appearance schedule which we will continue to update, and great new recipes; also follow us on twitter at @BellissimabyCB.
Please watch the great videos with Chazz Palminteri to learn about our brand and see the map for our list of current retailers. Please visit our website www.bivivodka.com to learn about the finest Sicilian Craft Vodka on the market today.
About Iconic Brands, Inc.
Iconic Brands Inc. ("Iconic") is a beverage company with the highest expertise of developing, from inception to completion, alcoholic beverages for itself and third parties. Iconic Brands markets and places products into national distribution through long standing industry relationships. Iconic is also a leader in "Celebrity Branding" of beverages, procuring superior and unique products from around the world and branding its products with internationally recognized celebrities. Currently offering Bivi Vodka, www.BiviVodka.com and Bellissima Prosecco, www.BellissimaProsecco.com.
Forward-Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could", "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with the Securities and Exchange Commission and available at www.sec.gov.
CONTACT INFORMATION
Iconic Brands, Inc.
Info@IconicBrandsUSA.com
Well we will need actual news. They have to have time to get things done.
I thought we wasn't getting news until next month
What is this supposed to mean? Everyone should keep quiet I guess. Need more context.
This is holding up well so far IMO
I'm still waiting for Q2
Looks like we will wait for Q2 for fireworks
0.0009 x36,900 0.001 x3,810,000
$CRQE .0009s almost gone!
incredible
$CRQE .0009s up!
looks like the Bid is growing
same here looking good
trading days*
$ICNB looks like a bellissima morning .0153 x .0161
No panic selling if we wait until after hours. Maybe this approach makes the stock more stable
My guess is earnings will be released after hours. I think premarket would be ideal
Y.O.L.O
I'm actually impressed this didn't drop after we didn't get the 10q on the 15th
What's happening?
History tells us they will wait until the last minute
I had a feeling we would be late but who is buying?
It can happen on Limit orders also
That happens to me occasionally. They will give you a cheaper price if they have one and you are buying.
So we are getting the filing after hours Monday?
Maybe I misread the last pr? Haven't been following much lately
Interesting we got the approval exactly when we got a new FDA commissioner. I wonder if they need him to sign off on it or was it a coincidence
There was a promo.
After the run, if I remember correctly, it dropped after GlaxoSmithKline or Bayer got approval for their OTC version
A promo ran us up there before
Prediction, we don't see anything near .60 again until Q4 maybe Q2 2018