Money never sleeps pal. I just made $800,000 in Hong Kong gold. It's been wired to you -- play with it. You done good, but you gotta keep doing good.
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Iconic Brands Inc. Letter to Shareholders Iconic Brands Inc., (OTCQB: ICNB) today issued the following letter to its shareholders regarding the Company’s forthcoming plans.
Dear ICNB friends and shareholders both current and prospective,
We’ve updated our financial reports to regain status as a fully reporting and compliant public company post of the company reorganization.
First as it relates to being a public company, we are committed to holding ourselves to a higher standard, and to offering a level of communication and transparency that should be expected of any company in which public shareholders put their trust. We have committed to build a company that everyone will be proud of, and one which is goal orientated and ultimately profit driven.
We have several high profile celebrity brands we are in negotiations with at this time and look to have agreements in place in the near future. Additionally we have certain distribution agreements pending which we also believe will be concluded shortly.
We will be closing on the initial membership units of United Spirits as previously announced and pursuant to the Letter of Intent as early as next week. Also something to look forward to will be our new packaging division, which will offer value add packaging services, as well this business unit will hold several patents and patent pending devices which we intend to seek out licensing deals and pursue other methods to monetize the patent value of the portfolio.
The company will be launching a new website in the immediate future.
The company looks forward to being in a position to explore exciting opportunities. You can expect a good deal of information and milestones coming from the company in the near future and I offer my sincere thanks for your loyalty and continued support.
Sincerely
Richard DeCicco
About Iconic Brands Inc.
Located in Amityville, New York Iconic Brands Inc. develops markets and distributes high-quality branded alcoholic beverages.
Website: www.icnb.info
Forward-Looking Statements Disclosure
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimated" and "intend," among others. These forward-looking statements are based on the Company's current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, history of losses; speculative nature of Celebrity Branded products; the highly competitive Spirits Industry; substantial capital requirements: lack of diversification; competition; global financial conditions; ability to market and distribute products produced; and ability to acquire new license agreements. The Company does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in historic and future periodic reports filed with the Securities and Exchange Commission. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other ca
We have several high profile celebrity brands we are in negotiations with at this time and look to have agreements in place in the near future. Additionally we have certain distribution agreements pending which we also believe will be concluded shortly.
We will be closing on the initial membership units of United Spirits as previously announced and pursuant to the Letter of Intent as early as next week. Also something to look forward to will be our new packaging division, which will offer value add packaging services, as well this business unit will hold several patents and patent pending devices which we intend to seek out licensing deals and pursue other methods to monetize the patent value of the portfolio.
The company will be launching a new website in the immediate future.
The company looks forward to being in a position to explore exciting opportunities. You can expect a good deal of information and milestones coming from the company in the near future and I offer my sincere thanks for your loyalty and continued support.
I just woke up winks!! Down here in South Beach Im glad I didnt leave before OT last night.. Game of a Life time
GAME 7 Spurs buddy!!
I hope to keep making Higher highs and Higher Lows!
WINKS LETS GO PACERS TONIGHT!!!!!!!
If we can hold $1 to consolidation and then up and up we would be making Improvements
Just think where this one will Trade on Millions of shares in a day.
Nice trading here today. Only $8500 traded here
Well Said Boss...
Form 10-K for ICONIC BRANDS, INC.
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20-May-2013
Annual Report
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND PLAN OF OPERATIONS.
The following discussion is an overview of the important factors that management focuses on in evaluating our business, financial condition and operating performance and should be read in conjunction with the financial statements included in this Annual Report. This discussion contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those anticipated in these forward looking statements as a result of any number of factors.
Our Business
Iconic Brands, Inc., formerly Paw Spa, Inc., was incorporated in the State of Nevada on October 21, 2005.
We are now considered a blank check company. We intend to comply with the periodic reporting requirements of the Exchange Act for so long as we are subject to those requirements.
Under SEC Rule 12b-2 under the Securities Act, we also qualify as a "shell company," because we have no or nominal assets (other than cash) and no or nominal operations. Many states have enacted statutes, rules and regulations limiting the sale of securities of shell companies in their respective jurisdictions. We intend to comply with the periodic reporting requirements of the Exchange Act for so long as we are subject to those requirements.
Our current business plan is to attempt to identify and negotiate with a business target for the merger of that entity with and into the Company or to acquire assets so that we will no longer be qualified as a shell company. In certain instances, a target company may wish to become a subsidiary of the Company or may wish to contribute or sell assets to the Company rather than to merge. No assurances can be given that we will be successful in identifying or negotiating with any target company. We seek to provide a method for a foreign or domestic private company to become a reporting or public company whose securities are qualified for trading in the United States secondary markets.
Plan of Operation - General
Although we intend to be in the spirits business, during the next 12 months, the Company intends to seek, investigate and, if such investigation warrants, acquire an interest in one or more business opportunities presented to it by persons or firms who or which desire to seek the perceived advantages of a publicly held corporation. At this time, the Company has no plan, proposal, agreement, understanding or arrangement to acquire or merge with any specific business or company, and the Company has not identified any specific business or company for investigation and evaluation. No member of Management or promoter of the Company has had any material discussions with any other company with respect to any acquisition of that company.
Although we hope to be in the spirits business, the Company will not restrict its search to any specific business, industry or geographical location, and the Company may participate in a business venture of virtually any kind or nature. The discussion of the proposed plan of operation under this caption and throughout this Annual Report is purposefully general and is not meant to be restrictive of the Company's virtually unlimited discretion to search for and enter into potential business opportunities.
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The Company will have to obtain funds in one or more private placements to finance the operation of any acquired business. Persons purchasing securities in these placements and other shareholders will likely not have the opportunity to participate in the decision relating to any acquisition. The Company's proposed business is sometimes referred to as a "blind pool" because any investors will entrust their investment monies to the Company's management before they have a chance to analyze any ultimate use to which their money may be put. Consequently, the Company's potential success is heavily dependent on the Company's management, which will have virtually unlimited discretion in searching for and entering into a business opportunity. None of the officers and directors of the Company has had any experience in the proposed business of the Company. There can be no assurance that the Company will be able to raise any funds in private placements. In any private placement, management may purchase shares on the same terms as offered in the private placement.
Management anticipates that it will only participate in one potential business venture. This lack of diversification should be considered a substantial risk in investing in the Company because it will not permit the Company to offset potential losses from one venture against gains from another. The Company may seek a business opportunity with a firm which only recently commenced operations, or a developing company in need of additional funds for expansion into new products or markets, or seeking to develop a new product or service, or an established business which may be experiencing financial or operating difficulties and is in the need for additional capital which is perceived to be easier to raise by a public company. In some instances, a business opportunity may involve the acquisition or merger with a corporation which does not need substantial additional cash but which desires to establish a public trading market for its common stock. The Company may purchase assets and establish wholly owned subsidiaries in various business or purchase existing businesses as subsidiaries.
The Company anticipates that the selection of a business opportunity in which to participate will be complex and extremely risky. Because of general economic conditions, rapid technological advances being made in some industries, and shortages of available capital, management believes that there are numerous firms seeking the benefits of a publicly traded corporation. Such perceived benefits of a publicly traded corporation may include facilitating or improving the terms on which additional equity financing may be sought, providing liquidity for the principals of a business, creating a means for providing incentive stock options or similar benefits to key employees, providing liquidity (subject to restrictions of applicable statutes) for all shareholders, and other factors. Potentially available business opportunities may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex.
As part of any transaction, the acquired company may require that management or other stockholders of the Company sell all or a portion of their shares to the acquired company, or to the principals of the acquired company. It is anticipated that the sales price of such shares will be lower than the current market price or anticipated market price of the Company's Common Stock. The Company's funds are not expected to be used for purposes of any stock purchase from insiders. The Company shareholders will not be provided the opportunity to approve or consent to such sale. The opportunity to sell all or a portion of their shares in connection with an acquisition may influence management's decision to enter into a specific transaction. However, management believes that since the anticipated sales price will be less than market value, that the potential of a stock sale by management will be a material factor on their decision to enter a specific transaction.
The above description of potential sales of management stock is not based upon any corporate bylaw, shareholder or board resolution, or contract or agreement. No other payments of cash or property are expected to be received by Management in connection with any acquisition.
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The Company has not formulated any policy regarding the use of consultants or outside advisors, but does not anticipate that it will use the services of such persons.
The Company has, and will continue to have, insufficient capital with which to provide the owners of business opportunities with any significant cash or other assets. However, management believes the Company will offer owners of business opportunities the opportunity to acquire a controlling ownership interest in a public company at substantially less cost than is required to conduct an initial public offering. The owners of the business opportunities will, however, incur significant post-merger or acquisition registration costs in the event they wish to register a portion of their shares for subsequent sale. The Company will also incur significant legal and accounting costs in connection with the acquisition of a business opportunity including the costs of preparing post-effective amendments, Forms 8-K, agreements and related reports and documents nevertheless, the officers and directors of the Company have not conducted market research and are not aware of statistical data which would support the perceived benefits of a merger or acquisition transaction for the owners of a business opportunity.
The Company does not intend to make any loans to any prospective merger or acquisition candidates or to unaffiliated third parties.
Going Concern Consideration
As of December 31, 2012, the Company had negative working capital of $4,154,105 and a stockholders' deficiency of $7,536,518. Further, from inception to December 31, 2011, the Company incurred losses of $16,492,729. These factors create substantial doubt as to the Company's ability to continue as a going concern. The Company plans to improve its financial condition by reorganizing and acquiring a new business. However, there is no assurance that the Company will be successful in accomplishing this objective. The consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.
Results of Operations
Years ended December 31, 2012 and 2011
Revenues
The Company had no revenues for the years ended December 31, 2012 and December 31, 2011.
Total Expenses
Total expenses for the year ended December 31, 2012 was $106,748, as compared to $105,506 for the year ended December 31, 2011. This was comprised of professional fees of $40,370, interest expense of $46,198 and other general and administrative expenses of $20,180. This was similar for the total expenses for the year ended December 31, 2011 which consisted of professional fees of $37,750, interest expense of $45,307 and other general and administrative expenses of $22,449.
Trading nice.....
This one over the past 3 years likes to make moves. Down to .50 and back up over a $1
GOOD MORNING!!
Do your Homework and see...
$$$$$ DRL IS MAKING A BIG RUN $$$$$$$$$$
Strong Week Here. Great Volume and Big %%% Gains!!!!!!!!!!!!
The Basement floor here is $8.40
She is Running Wide open Now!!!
Were up almost 25% in the last 2 dayz... good Volume today
A nice 10% Gain here today... Looking Great!!
Here we go. I hope your shares are in place.. I can taste that $1
We need a Update. Something Postive to show forward moving progress
This one has been rather longer then I was expecting. The Lack of PR's and Low Volume trades has Im sure alot of holders looking to bail
Doral Financial Corporation Reports Financial Results for the Quarter Ended March 31, 2013
PrintAlert
Doral Financial (NYSE:DRL)
Intraday Stock Chart
Today : Thursday 9 May 2013
Doral Financial Corporation (NYSE: DRL) ("Doral", "Doral Financial" or the "Company"), the holding company of Doral Bank, with operations in Puerto Rico and the U.S., reported a net loss of $12.4 million for the three months ended March 31, 2013, compared to net income of $28.3 million for the quarter ended December 31, 2012 and net income of $2.6 million for the three months ended March 31, 2012.
"As we successfully established Doral Recovery as a new special servicer, our teams focused on our growth businesses, which have shown significant increases in revenue and returns. Our core businesses in each of our markets are showing consistent results as we've increased deposits, greatly strengthened our Puerto Rico mortgage franchise, and continue steady growth in U.S. commercial lending," said Glen Wakeman, CEO of Doral Financial Corporation.
First Quarter Highlights:
Grew retail deposits by $213.9 million.
Produced $619.7 million in new loans, including $260.4 million of residential mortgage loans in Puerto Rico, an increase of 83.6% from the first quarter of 2012 volume of $141.8 and consistent with fourth quarter 2012 volume of $245.7 million.
Increased loans receivable $22.4 million to $6.1 billion at March 31, 2013.
Preserved capital levels with ratios for Tier 1 Leverage of 9.26%, Tier 1 Risk-based Capital of 11.66% and Total Risk-based Capital of 12.92%.
Generated net interest income of $60.7 million and non-interest income of $24.8 million.
Provided $18.7 million for loan and lease losses largely as a result of new valuations received on defaulted residential and commercial loans and recently delinquent residential mortgage loans.
The Company's financial results for the first quarter of 2013 and Investment Presentation materials, which contain additional information regarding our first quarter 2013 performance, are being released at the same time as our filing of Doral's Form 10-Q as of March 31, 2013 with the Securities and Exchange Commission.
Conference Call
Doral will be holding a conference call to discuss its financial results on Thursday, May 9th, 2013 at 10:00 a.m. EDT.
The call may be accessed through a dial-in telephone number at (800) 398-9367 or (612) 332-0636 for international callers.
A telephone replay of the conference call will be available through June 9, 2013 at (800) 475-6701 or (320) 365-3844 for international callers. The replay access code is 293013.
FINANCIAL HIGHLIGHTS
Net loss for the three months ended March 31, 2013 totaled $12.4 million, compared to net income of $28.3 million for the fourth quarter of 2012 and net income of $2.6 million for the three months ended March 31, 2012.
The Company reported a net loss attributable to common shareholders of $14.8 million for the first quarter of 2013 compared to net income attributable to common shareholders of $25.8 million for the fourth quarter of 2012, and net income attributable to common shareholders of $189 thousand for the quarter ended March 31, 2012.
Net interest income for the first quarter of 2013 was $60.7 million, an increase of $3.9 million compared to the fourth quarter of 2012, and an increase of $8.0 million when compared to the first quarter of 2012. Net interest margin was 3.31% and 2.95% for the first quarter of 2013 and the fourth quarter of 2012, respectively.
Provided $18.7 million for loan and lease losses as a result of revised cumulative default estimates on modified loans, probability of default and loss given default estimates, new delinquencies and new valuations received on defaulted commercial and residential mortgage loans, compared to a $21.3 million provision in the fourth quarter of 2012 and a $115.2 million provision in the first quarter of 2012.
Non-interest income for the three months ended March 31, 2013 of $24.8 million reflects a decrease of $4.9 million and an increase of $9.1 million, compared to non-interest income of $29.7 million for the fourth quarter of 2012 and $15.7 million for the first quarter of 2012, respectively. The decrease in non-interest income when compared to the fourth quarter of 2012 results from a decrease of $7.3 million in gain on loans securitized and sold MSR during the first quarter of 2013 and the decrease of $3.8 million of insurance agency commissions received during the fourth quarter of 2012, partially offset by $5.1 million of additional mortgage loan servicing income in the three months ended March 31, 2013.
Non-interest expense for the first quarter of 2013 of $75.3 million decreased by $11.8 million and increased by $12.0 million from the quarters ended December 31, 2012 and March 31, 2012, respectively. The reduced expenses in the first quarter of 2013 compared to the fourth quarter of 2012 was mainly driven by decreases of $4.4 million, $3.6 million, $2.5 million and $1.2 million in professional services, OREO related expense, other expense and occupancy expense, respectively.
Doral's loan production for the three months ended March 31, 2013 was $619.7 million, a decrease of $13.5 million and an increase of $137.9 million, compared to $633.2 million and $481.8 million for the fourth quarter of 2012 and first quarter of 2012, respectively. Commercial loan production in the U.S. totaled $358.2 million or 57.8% of loan production for the first quarter of 2013. Residential mortgage loan production in Puerto Rico, most of which is sold, of $260.4 million in the first three months of 2013 was up $118.6 million from first quarter 2012 loan production of $141.8 million, showing growth of more than 80%.
Doral saw an income tax expense of $3.9 million for the three months ended March 31, 2013 compared to an income tax benefit of $50.2 million for the fourth quarter of 2012. The variance is due mainly to a $50.6 million deferred tax benefit resulting from the conversion of Doral Insurance Agency to a limited liability company and the election to consolidate Doral Financial Corporation and Doral Insurance LLC for tax purposes, both fourth quarter 2012 events, which allowed the release of a portion of Doral Financial Corporation's tax valuation allowance.
Doral reported total assets as of March 31, 2013 of $8.4 billion compared to $8.5 billion as of December 31, 2012. The decrease of $109.2 million is mainly due to decreases in cash and investment securities of $91.7 million and $23.1 million, respectively for the three months ended March 31, 2013.
Total deposits were $4.8 billion as of March 31, 2013, an increase of $154.9 million, or 3.3%, from deposits of $4.6 billion as of December 31, 2012. The Company's brokered deposits decreased $59.0 million while retail deposits increased $213.9 million during the three months ended March 31, 2013.
Non-performing loans ("NPLs"), excluding FHA/VA loans guaranteed by the US government, as of March 31, 2013 were $774.5 million, an increase of $31.8 million from $742.8 million as of December 31, 2012. The increase in NPLs resulted largely from a $33.4 million increase in non-performing commercial real estate loans.
The Company's capital ratios continue to exceed the standards established by the federal banking agencies with ratios of Tier 1 Leverage of 9.26%, Tier 1 Risk-based Capital of 11.66% and Total Risk-based Capital of 12.92%.
FORWARD-LOOKING STATEMENTS
This earnings release contains forward-looking statements within the meaning of, and subject to the protection of, the Private Securities Litigation Reform Act of 1995, as amended. In addition, Doral Financial Corporation may make forward-looking statements in its other press releases, filings with the Securities and Exchange Commission ("SEC") or in other public or shareholder communications and its senior management may make forward-looking statements orally to analysts, investors, the media and others.
These forward-looking statements may relate to the Company's financial condition, results of operations, plans, objectives, future performance and business, including, but not limited to, statements with respect to the adequacy of the allowance for loan and lease losses, delinquency trends, market risk and the impact of general economic conditions, interest rate changes, capital markets conditions, capital adequacy and liquidity, and the effect of legal or regulatory proceedings, tax legislation and tax rules, deferred tax assets and related reserves, compliance and regulatory matters and new accounting standards and guidance on the Company's financial condition and results of operations. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts, but instead represent Doral Financial's current expectations regarding future events. Such forward-looking statements may be generally identified by the use of words or phrases such as "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "believe," "expect," "predict," "forecast," "anticipate," "plan," "outlook," "target," "goal," and similar expressions and future conditional verbs such as "would," "should," "could," "might," "can" or "may" or similar expressions.
Doral Financial cautions readers not to place undue reliance on any of these forward-looking statements since they speak only as of the date made and represent Doral Financial's expectations of future conditions or results and are not guarantees of future performance. The Company does not undertake and specifically disclaims any obligations to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of those statements other than as required by law, including the requirements of applicable securities laws.
Forward-looking statements are, by their nature, subject to risks and uncertainties and changes in circumstances, many of which are beyond Doral Financial's control. Risk factors and uncertainties that could cause the Company's actual results to differ materially from those described in forward-looking statements can be found in the Company's Annual Report on Form 10-K for the year ended December 31, 2012, which was filed with the SEC on March 13, 2013 and is available on the Company's website at www.doralfinancial.com, as updated from time to time with the Company's periodic and other reports filed and to be filed with the SEC.
Institutional Background
Doral Financial Corporation is a bank holding company engaged in banking, mortgage banking and insurance agency activities through its wholly-owned subsidiaries Doral Bank ("Doral Bank"), with operations in the mainland U.S. (New York metropolitan area and northwest region of Florida) and Puerto Rico, Doral Insurance Agency, LLC ("Doral Insurance Agency"), Doral Recovery, Inc ("Doral Recovery") and Doral Properties, Inc. ("Doral Properties"). Doral Bank in turn operates three wholly-owned subsidiaries: Doral Mortgage LLC ("Doral Mortgage"), engaged in residential mortgage lending in Puerto Rico, Doral Money, Inc. ("Doral Money"), engaged in commercial and middle market lending primarily in the New York metropolitan area, and Doral Recovery, LLC ("Doral Recovery II", previously Casa Bella, LLC), an entity formed to dispose of a real estate project of which Doral Bank took possession during 2005 and now holds small commercial real estate loans and certain delinquent residential mortgage loans previously held by Doral Bank. Doral Money consolidates three variable interest entities created for the purpose of entering into collateralized loan arrangements with third parties.
Doral Financial Corporation's common shares trade on the New York Stock Exchange under the symbol DRL. Additional information about Doral Financial Corporation may be found on the Company's website at www.doralfinancial.com.
For more information contact:
Investor Relations:
Christopher Poulton
Yes this one sure does move and trade thin below .08 but we need some Positive news to get the Shares to trade again..
United Spirits will take this to the Dollar Land!! Lets get the PR's ROCKING
Can we get that $1 before july? $$$
This has been a Great Stock. Check the Chart for the past 3 years...
Strong Day here... Love it!!
Yes Yes,, Trades so thin u add volume here and its to the moon!
Come on $1
This has been a great Trading stock in the last 3 years.. I feel its in its best $$%%
Alot!!!!!!!!
Movement Makes $$$ What way u want to make it go?? Im Pointing it North
Lets get this one Moving ... DDCC is Hot right now!! This one will have its Run
Time to Throttle down!!
Looks Great here..
Very True statement
I see you Grabbed 65,000 Shares today Winker Very Strong Buy.. Lets go $1
Trading Good today.. Green is Green!