Iconic Brands Inc (ICNB)

[ctrumabll]

Southridge is a toxic lender.

Not just toxic, but really sketchy. I would compare dealing dealing with Southridge to making deals with Satan, but Satan is probably more trustworthy than Southridge.

Additionally Management is pleased to announce that Iconic has reached an agreement with its existing note holders, whereby terms of conversion have been renegotiated to not less than $.0015 and whereby no more than $20,000 USD can be sold in any single month without prior written approval from Management.

Now why did Dick insert that last sentence?

Well, as far as I can tell, Southridge has so much control over this situation, Stephen Hicks might as well have marionette strings tied to Richard.

Basically, it gives them an "out" to dump as much as they want, when they want. Like now...

You know what else I haven't seen? The famous A/S reduction. Still looking at up to 2.5 billion and a 2.5-1 dilution!