Iconic Brands Inc (ICNB)

[Whiplash_Investor]

There’s at least 849 + 688 = 1.537B as the OS was 849 when he announced debtor shares as 482. Since then, it has risen twice to 688. Add that to OS then (Mar/Apr?) and get a minimum fully diluted OS of 1.537B. Now if the increase in OS from 849 to current 984 was due only to expenses and none as the 688 debtor shares, then we still have all of the debtors unissued, but promised. If that’s the case, the fully diluted OS could as high as 984 + 688 or 1.67B.

So effectively you are correct that his OS report was wrong. It’s actually higher. Remember the reported OS does not include most of the debtor shares.

The poster’s point was the fully diluted OS was 1.5B, a little low vs actuality. The fully diluted OS determines the PPS for valuation purposes because anyone buying the company would offer a fixed dollar amount. After debts are subtracted, the remains is divided by fully diluted OS. Oh and don’t forget the Pref D conversion effect which will increase the 1.6B by 1.5 or by 2.0. So fully diluted OS will be in excess of 3B, even though TA has only issued 984 at this point.