Iconic Brands Inc (ICNB)

[Whiplash_Investor]

Value of a company is X based on it’s sales and growth expectations. The value of the stock in PPS is always determined by X minus debts plus receivables. Rich converted debt from promissory notes to 688M promissory shares. Upon buyout, the 688M get added to the OS. Also upon buyout Rich’s 10 Pref Ds get converted to shares, effectively doubling the OS.

So when a new investor factors the debt and the Pref Ds, the buyout PPS becomes about 25% of what would be provided for a 984M OS.

The rest is just semantics.