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Seriously? (1) This board is overwhelmingly supportive of ICNB. Overwhelmingly. For the most part, Rich's every move is met with thunderous applause. (2) ICNB's last audited financials are for the year ending 12/31/2012. Until we see up-to-date audits, a little skepticism is not a bad thing.
It's certainly a bit of a mystery. It's now over six months since: "Iconic Brands management is finalizing plans to consolidate the ownership interest of Bellissima Spirits and Bivi Vodka to a 100% interest, terms and conditions are being finalized" To the best of my knowledge, Rich has been quiet on the subject other than mentioning the intent to consolidate is still there.
You're right. I have stated in the past that CB doesn't own the other 49%. It would have been preferable if I had stated we do not know who owns the other 49%. I still think it's Rich and Faltings, but I don't know that.
Nowhere that I know of. My post doesn't state that.
He asked a question. I answered it.
Yes, here it is. (Importantly, Bellissima Spirits LLC is not Christie Brinkley. It is a company controlled by Richard DeCicco.)
"December 13, 2016, the Company entered into a 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."
For all practical purposes, Rich took 51 percent of Bellissima out of his left pocket and put it in his right pocket.
http://www.otcmarkets.com/financialReportViewer?symbol=ICNB&id=164765
You own 49% of Bellissima LLC. You believe that in the foreseeable future, someone will buy Bellissima LLC for.....$20 million? $50 million? $100 million?
So why would you sell your 49% to ICNB? What does ICNB have that you want? Several billion shares? Leftover bottles of BiVi? No, thanks.
That's why I contend that if ICNB is able to acquire that 49%, a buyout is not soon to be seen. It's not even close. Or....the cost of the acquisition will not be favorable to common shareholders. I just can't see another way.
But I would be more than happy to be proven wrong.
They "enjoyed Christie’s new Organic Prosecco, Bellissima, hors d’oeuvres and a Starbucks coffee bar"
In other words, an overwhelming array of delights! For what more could one possibly ask?
Interesting.
Hesitant about spending $160 to attend the 6th annual St. Barth Hamptons Gala? Here are just some of the A-listers you could have rubbed elbows with last year:
If pictures of Christie Brinkley's unemployed wannabe actor of a son being seen drinking slurpies with DiCaprio's ex-girlfriend doesn't move this stock, well, gee willikers, I just don't know what will.
Update: Another $228 has traded. Woot.
Only an hour into the trading day and already over $300 worth of stock has traded. Clearly, the frenzy over the 6th annual St Barth Hamptons Gala is reaching a fever pitch.
And if you can squeeze it in...."Oh, Christie darling, I was wondering, do you own any part of Bellissima LLC?"
Although Bellissima was served at the St Barth Hamptons Gala in July of last year, retail sales didn't commence until November.
And Bellissima was served:
http://t2conline.com/christie-brinkley-hosts-5th-annual-st-barth-hamptons-gala/
Wow. It's already the 6th annual St Barth Hamptons Gala. I'm sure it will be HUGE. And to think that last year's host was just some aging personal care/health & fitness huckster serving an unsung sparkling wine.
Unfortunately, 30 days above .01 in days of yore doesn't meet the requirement. To list on the OTCQB:
"(Company must) Have proprietary priced quotations published by a Market Maker in OTC Link ATS with a closing bid price of at least $0.01 a) for each of the 30 calendar days immediately preceding the Company’s application for OTCQB and b) as of the date OTC Markets Group approves its application to join the OTCQB market."
But I expect that ICNB will meet that requirement if and when necessary.
Sorry, I must have misunderstood your post.
From the Handbook: "On stock-specific boards, each moderator can add one Sticky Post and can only remove their own. When a moderator is removed their Sticky Post is automatically removed. "
Yes, the unbridled ecstasy of shareholders is readily apparent.
He should know. Keep in mind, however, that "sparkling wine" is a rather broad category that includes champagne, prosecco, cava, moscato d'asti, German Sekt, American sparkling wine, etc.
"H M people drink TEQUILLA ? not too many !" More than I would have thought.
Actually, doc, they PR'd nearing the 1000 retailers milestone as far back at January 23.
"...the company is pleased to announce closing in on 1000 US retailers for the Bellissima brand."
http://www.otcmarkets.com/stock/ICNB/news/Iconic-Brands---ICNB---Corporate-News?id=149203&b=y
I do not discount that possibility.
Relatively speaking, you seem even-handed in your view of this stock. Who do you think owns the remaining 49% of Bellissima? I was convinced it was DeCicco and Faltings, but I'm starting to waver just a bit.
From January 11, 2017:
"Iconic Brands management is finalizing plans to consolidate the ownership interest of Bellissima Spirits and Bivi Vodka to a 100% interest, terms and conditions are being finalized, but this is deemed a necessary and prudent step in the growth of our Portfolio and will be beneficial to our shareholders."
It has now been six months since the consolidation was "being finalized." I wonder why it is taking this long.
This is still the deal as far as I know. CB is the Bellissima Licensor:
"Pursuant to the License Agreement with the Bellissima Licensor (see note 9 b. above), Bellissima is obligated to pay the Bellissima Licensor a Royalty Fee equal to 10% of monthly gross sales of Bellissima Brand products payable monthly. The Bellissima Licensor has the right to terminate the endorsement if Bellissima fails to sell 10,000 cases of Bellissima Brand products in year 1, 15,000 cases in year 2, or 20,000 cases in year 3 and each subsequent year."
http://www.otcmarkets.com/financialReportViewer?symbol=ICNB&id=164765
You better hope not. Hicks and Sargent are CEO and COO of toxic financier Southridge, LLC. http://www.southridge.com/about-us
If I recall correctly, they aren't even the same thing. Profile pics are different from the "member photos" that people submitted.
$600K would be a good number. I would be mildly but pleasantly surprised with that.
And there are other reasons to want voting control ("...this is not a proxy and you are not being asked to submit..."). He has already paid for the shares. It's simply a matter of converting at the optimum time.
Keeping in mind that OTC CEO is not the most altruistic of pursuits is usually a good idea. If Bellissima had been my brainchild and I had been the one who hawked it, hustled it, landed a celeb to be the face of it, and traveled the country to place it in stores, rest assured there would be a placard on my desk that read "Joseph Doesn't Get Screwed."
I think that Rich fully intended to have voting control of ICNB in the event he and Roseann Faltings convert their Class D shares into common shares, and my guess is that is exactly what would happen, but hell, I don't know for sure.
There would be no purpose in having the 10 "D" shares convert into 51% of the O/S if Rich didn't intend for it to mean 51% of the post-conversion O/S, but like so many elements of this corporate structure, the phraseology "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" leaves some room for confusion.
Hopefully, it's Barney. I bet that Rex could move some bottles for us.
Absolutely. Of course, it's also possible that Ivanka Trump, the Dali Lama, or Barney the Dinosaur owns it.
I think we can file that one under "Unlikely Scenarios."
I know what the filing states: "beneficially controlled." I'm not assuming they own more than that, and I am most certainly not assuming that Brinkley owns any of it. I think it is highly unlikely that she does.
Where does it say that they own only 51 percent? The wording is that they "beneficially controlled" Bellissima Spirits LLC. I don't recall seeing a percentage.