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I didn't think the 10-Q was all that relevant to the current situation. The Disclosure Statement was an interesting read.
"Christie Brinkey. She is the driving force behind it in marketing, publicity, and is actually a co-owner." That's interesting. Where did you see that?
Here we go.
Agreed.
"Chrsitie can buy shares like us" Actually, she can buy them 90+ percent cheaper than we can (as of right now). I wonder if she will.
Yeah, okay.
They can be converted into trading shares.
I bet she would have worked just as hard for five percent.
I would greatly appreciate it if someone would tell me if I am I reading this ICNB Disclosure Statement correctly.
1. DeCicco and Faltings beneficially controlled Bellissima Spirits prior to the closing.
2. ICNB bought 51% of Bellissima for 10 shares of ICNB Series D Preferred Stock.
3. DeCicco and Faltings now own those 10 shares of Series D Preferred Stock.
4. Collectively, those 10 shares can be converted to 51 percent of all ICNB common shares outstanding at the time of conversion.
Here are the references:
"(ii) Richard DeCicco beneficially controlled Bellissima Spirits LLC, the Company’s subsidiary prior to Closing, so the 5 shares of Series D Preferred Stock used to acquire Bellissima are likewise beneficially
owned by Mr. DeCicco for Rule 144 purposes
(iii) Roseann Faltings beneficially controlled Bellissima Spirits LLC, the Company’s subsidiary prior to Closing, so the 5 shares of Series D P
referred Stock used to acquire Bellissima are likewise beneficially
owned by Ms. Faltings for Rule 144 purposes"
"On December 13, 2016 the Company approved the creation of a new class of preferred stock in order to facilitate Closing of the Securities Purchase Agreement with Bellissima Spirits LLC (“Bellissima”) and Bellissima’s members under which the Company acquired a 51% Majority Interest in Bellissima in exchange for the issuance of a total of 10
shares of newly designated Iconic Series D Convertible Preferred Stock. Each share of Iconic Series D Convertible Preferred Stock is convertible into the equivalent of 5.1% of Iconic common stock issued and outstanding at the time of conversion."
http://www.otcmarkets.com/financialReportViewer?symbol=ICNB&id=164766
Am I reading this correctly?
1. DeCicco and Faltings beneficially controlled Bellissima Spirits prior to the closing.
2. ICNB bought 51% of Bellissima for 10 shares of ICNB Series D Preferred Stock.
3. DeCicco and Faltings now own those 10 shares of Series D Preferred Stock.
4. Collectively, those 10 shares can be converted to 51 percent of all ICNB common shares outstanding at the time of conversion.
She gets 10 percent of the gross? That is an incredible deal for her.
"Bellissima is obligated to pay the Bellissima Licensor a Royalty Fee equal to 10% of monthly gross sales of Bellissima Brand products payable monthly."
Yeah, after lunch probably.
I agree. The performance has been very impressive. So why gild the lily? It's counterproductive.
"ICNB is now a .20 cent stock" If so, it has a severe inferiority complex because it seems to think it's a .01 stock.
My guess is that some "true longs" weren't so true.
"ICNB is now a .20 cent stock." Such an odd statement.
Sierra is the laughably inept tout sheet of a fictional character whose own disclaimer tells you that you should have your head examined if you pay any attention to it: "...the presumption should be made that all information on our website is inaccurate and unreliable..."
"Your smarter than that." I assure you he is not.
And that deduction is based on the belief that the O/S stated in the May 23 8-K ("an aggregate 1,832,897,782 shares of Solaris Common Stock are issued and outstanding") is the current O/S?
He is very specific that he owns 73 million. What is the basis for your thinking that the float is a mere 85-100 million?
"the stock has a float of under 100M, and more likely 85M to be exact".....
On numerous occasions, a single poster on this board has claimed to own 73 million shares. How do you reconcile that with your presumed 85-100 million share float?
#msg-125287758
#msg-125314965
#msg-127575619
I can't address a view I have not held or shared. My recollection is that only a very few posters have expressed that particular view.
"it's been stated, NUMEROUS TIMES that the 8K wasn't enough to remove the STOP SIGN..." A lot of things are posted numerous times -- both pro and con -- that are simply not true.
Message boards like complicated answers (and even more complex possibilities), but the simple answer is frequently the correct one.
I can't prove it, but it's my belief is that the 8-K triggered the change in tier. The 8-K was filed on 12/1. The tier change took place on 12/3.
Presumably, the categorization was changed from no information to limited information when SPCL met this requirement with the 8-K filed on 12/1/16:
"Companies in this category have limited financial information not older than six months available on the OTC Disclosure & News Service or have made a required filing on the SEC's EDGAR system in the previous six months."
http://www.otcmarkets.com/learn/otc-market-tiers
Note that it doesn't specify the nature of the filing, only that it be required.
"We will definitely go up in value when the Financials are released."
Your claim that is fact, not opinion, does not make it so. You may believe that will happen. You may surmise that will happen. You may conclude that will happen.
But you don't know it. None of us do yet.
Some of these countdown clocks have counted down to disappointment (a reset of the clock, page under construction, etc.) I hope that at 4:05, you guys get a shiny new website, but if you're expectations are really sky high, you might want to bring them down just a bit.
Neither is the stock price.
You're welcome. They haven't submitted their 10-Ks until 4/14-15 for (at least) the past five years, so that's probably when we'll get it in 2017 also.
The next report is a 10-K, not a 10-Q. It is not due until 3/30 and they can file a 10-K NT to buy another 15 days. The last 10-K came out on 4/14.
"Confessions of a Paid Basher" is a hoax dating back to November, 2000. It is mind-boggling that people still believe it.
A Countdown Clock? Jeez.
"The Company has entered into negotiations with its convertible note holders with the goal of restructuring existing debt and has requested..."
That is no guarantee no matter how anyone spins it.
There is no guarantee there whatsoever.
I wasn't suggesting it was current, only the latest available.
The latest number I see is almost two years old:
The outstanding number of the issuer's common stock, par value $.00001, as of February 4, 2015 is 1,421,894,440 shares.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10503398
You're welcome. It was poster DJPele who pointed it out for me last week.
They mentioned both NASDAQ and AmEx:
"5.2 Boards of Directors. On the Closing Date, Holdings shall have the right to designate three (3) members to the board of directors of Solaris (the “Holdings Designee”) and one member of the board of directors of Solaris shall be designated by the existing management of Solaris (the “Solaris Designee”). Following the Closing Date, Holdings shall select sufficient number of independent directors who shall be persons meeting requirements of independence in accordance with the listing and maintenance rules and regulations of the Nasdaq Capital Markets or the NYSE:Amex relating to the potential uplisting of Solaris Common Stock."
https://www.sec.gov/Archives/edgar/data/1411730/000149315216010214/ex10-1.htm
It's human nature to speculate. Unfortunately, on the boards, Monday's "we hope" becomes Tuesday's "we suspect" which becomes Wednesday's "we think" which becomes Thursday's "we know" which becomes Friday's "we've proven."
I suspect that, when revealed, the actual numbers will contain at least one major surprise and probably more than one.
According to your link, all three standards require that the public securities market value be a minimum of $45,000,000. That is well in excess of SPCL's current market value.