Iconic Brands Inc (ICNB)

[ctrumabll]

Well, Rich is also the kind of guy that will hire Southridge on a "consulting contract." That is definitely the OTC equivalent of inviting the vampires inside your doorstep. It is just that the vampires in this case look to the retail shareholders as the dinner.

Second: we are talking about buyout terms. If ICNB is bought out, Rich could easily structure it so that the preferred C's kick in, and he gets 76% of the take then and there. The issues of "building a business" would be irrelevant; the only question would be whether Rich, out of the goodness of his heart, would not take 76% of the buyout when the share structure is set up to let him do it. Oh, and that single preferred A gives him authority to do whatever he pleases, and nobody can stop him. And he put the existence of these preferred C's in the reports, so nobody can claim surprise.