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What part of bankruptcy means all comm shares will be wiped off is not clear?
That happens when loses millions per year this long. Why they bought pop Top who? A company also losing millions. Made no sense. This is what happens when have management who was this bad.
Unless they can get back into retail stores. They will never sell enough to make money. Why they failed is because they lost places like Publix. It did not sell and why no retail presence. They lose millions and that will not change. How they continue without big funding is hard to see. More bankruptcy filing is inevitable. When continue to lose millions. That is what happens. Market understands this. Why price keeps dropping. Rich screwed shareholders with how bad he has done.
Exactly. Why it never stopped. Until fines more of risk then money made. It will never stop.
Common sure. Preferred shares might not be. What sucks is management after BK done. They can just reissue themselves new shares.
Iconic Brands, Inc. is a leader in the development, design and delivery of alcohol and non-alcohol beverages. All they are. A tiny company losing millions. A leader that is funny. When this small not leader of anything in this industry.
They keep losing millions on wine as well. Just matter of time before that goes bankrupt to. They never have come close since first year selling enough to not lose millions. Buying POP top just made things worse.
I have known for decades mm's brokers etc sell naked short IOU'S. Which then do they ever cover? It was really bad since 2000. They are allowed to do it for one reason. They say to make more liquidly in a stock. They basically add to the market shares never issued by the company. If naked shorting is ever stopped. Then they have to find shares company issued. Which then by enforcing covering in time required. It has to drive stock prices up. Market supply shrinks. Naked short selling should have been banned long ago.
That is a good question. Not sure but I think you never have to. I know over the years. When mm's sold naked short sales and never cover. The company goes bankrupt is why. That might not be true now but used to be.
Also perfect for losing money.
Okay. They are still filing losses. Share price means shareholders screwed. They will never make money and have not for over 10 years. But you keep hoping lol.
When losing millions. When no volume to sell shares. Seems inevitable.
With bankruptcy that law suit will get zero.
Shareholder being owners and not creditors. Last in line for money. This tells me there there will be nothing left and they start over. It says no money. The question is will shareholders still owe shares? Even if r/s happens. Which is likely.
So are the losses as share price keeps dropping. Rich really made it much worse buying Pop Top. Which increased losses. The wine is not selling anything close to enough to make a profit.
Selling on QVC is not enough. As every filing shows company losing millions. To make money have to be widely sold in retail stores. They failed to make that happen and still are.
It is. From start when they lost Publix. It has been all down hill since. They priced it too high.
I do not think they can do another r/s. That be 3 and doubt will be approved.
The problem now is going to be delisted off exchange. I do not see anyway they cure the default.
With little volume and company needing to sell shares. It already is difficult. He does not care about shareholders. Never did.
Rich has control so that will never happen.
Rich blew that at starbucks today.
They are running out of cash. That is what is going on. Losing millions a year for years. At some point selling shares or getting loans is hard to do. They have hit that point. The acquisition of a company losing millions. When company already losing millions. That was start of the end. Rich made his money. He blew it with making this work and never cared about shareholders.
When they have not come close to ever making profit. Sub penny was just matter of when. It could go lower. They have to run out of money. They are just not selling enough shares to pay for millions in losses. They might not be in business much longer unless find cash and millions of it.
After last 2 I doubt it be approved. Even if it is as we see even at these levels little volume. Didn't they have toxic loan convertible debt?
Does not look like they can with little volume. They will run out of cash. Unless can sell millions of shares. I do not see that happening.
Maybe but will not work. Still will not be able to sell enough shares to cover looses. At this point they have shown nothing to think ever going to make a profit.
It was only matter of when it goes sub penny. Next up when do they file bankruptcy. At these levels still not enough volume to sell shares and keep going.
They have shown no ability to grow past tiny revenues or not lose millions. There is no future for this company. Never really was with how low revenues always are.
Do not see how he can sell much. The volume had dried up.
At this point if he does r/s still will not be able to sell many. We will see. I think he will just rename and start over. He has made this name bad news.
When losing millions every year for years. At some point it is bankruptcy and done. Rich can just take name and product to new company.
Any unpaid taxes are bad. In a bankruptcy. They go to first ones to be paid if any funds. Rich has ran this company into the ground. He made his money shareholders got screwed.
Could be payroll taxes. Why Rich has company acquire one losing millions was bad move. All he did was increase losses to be paid for by millions. We see what happen to stock price since.
They are far from a profit as losses show on 10K. Rich has just done terrible job. This should grown and been profitable by now. Buying Pop top was huge mistake. All it did was increase losses and we see what happen to stock price.
You tell me. It is a fact they lose millions every year and why price were it is. That will not change and means price will not change. They have 2 ways to fund losses. Debt or equity. Operations never will. Toxic debt is all they could get. Which is never good for shareholders. When not paid back coverts to shares at terrible conversion for shareholders.
They are not making money lol. If they were. They want to file and show that. It does cost to put on events. They have costs. Maybe every one is working for free now? LOL.
LOL you win stupid post of the day. It is why stock price is this low and not going to change.
Okay so still losing millions.
Wrong and market price now is overvalued. When losses are increasing by millions since acquisition. When company is never close to making money instead of growing losses. Too many years of this. Wait and see. Unless they file 10K showing losses decreased by millions. Sub penny is inevitable. As they run out of money.