Iconic Brands Inc (ICNB)

[scottgogolf]

Trez, there is a press release that says Rich and his girlfriend/fiance/wife (not sure of the relationship) each have 5 Series D convertibles that convert into 5.1% of all shares outstanding. What I can't figure out is does this mean 10 X 5.1% = 51% or after conversion the Series D will equal 51% of all outstanding shares. The first scenario would give Rich and female 1/3 of all outstanding shares, the 2nd would give them 51% of all outstanding shares and double the OS.

For your 2nd question, I'm not sure how ICNB shareholders get any value out of acquiring the other 49%. Someone owns the other 49% and it has value. If you owned it, would you give it to ICNB shareholders for free? If it were me I would want Preferred shares that I can exercise when a buyout comes and allows me to own 49% of ICNB. ICNB doesn't seem to own anything of value other than Bellissima so this would be a fair deal. In this case, ICNB now owns 100% of Bellissima but the current shareholders would still really own 51%. I'm open to ideas here but i don't see much value for current shareholders as the other 49% isn't coming for free.