I've taken a huge hit on this stock so far. Haven't sold, however, and won't until I'm making reasonable profit. But here's how i see it:
a) Rich is right. This is a baby company, and as someone who has started and built a company i know the process he is going through, and IMO, it looks fairly healthy. The roll-out is superlative. The man is outstanding at getting product in the right places.
b) Yes there is the 63 million shares, however, if you were running a public company and all eyes were on you, always (even at 3 a.m.), it might be interesting to see how you/your company looked when you needed short term cash. Simply put: you need money to make money and at the genesis of your company, you borrow where and when you can. Not such a big deal (other than how he communicated it)
c)The product is outstanding, and appears to be selling and better yet somewhat re-selling. The front person - CB - is exuberant and representing these vino's in more of a positive way than one could ask for. The key to any company is product, sales/revenues. We definitely have product. Sales/revenues to come!!!
d) The letter to shareholders was actually a smart move. Rich is showing transparency (mostly), and muting the response when the Fins come out. He's taking hits on this board and likely in other places, so he created an offence where most would have set up a defense. Good pivot.
I am in all the way. Come hell or high water I want to see how ICNB performs. In fact, I'm excited to see the course it takes, the road it follows and hope with all my wallet that we wake up one morning and BOOM!!!! to the moon, Alice. I don't predict future prices (bugs the sh-- out of me when people do that b/c close to 100% of the time, they are wrong) but I am confident it's going to be an excellent ride. Go ICNB go. Much luck to all of us!!!!
P.s. Make sure to own shares from other companies. Balance your portfolio so that when ICNB dips badly, you're covered elsewhere. Lots of wonderful opp out there.
