Iconic Brands Inc (ICNB)

[pocket.change]

Love this part... SHORTLY BEFORE THE REVERSE SPLIT!!! OOPPS!!! All shareholder value lost!!!

The Company has, and will continue to have, insufficient capital with which to provide the owners of business opportunities with any significant cash or other assets.

Going Concern Consideration

As of December 31, 2012, the Company had negative working capital of $4,154,105 and a stockholders’ deficiency of $7,536,518. Further, from inception to December 31, 2011, the Company incurred losses of $16,492,729. These factors create substantial doubt as to the Company’s ability to continue as a going concern. The Company plans to improve its financial condition by reorganizing and acquiring a new business. However, there is no assurance that the Company will be successful in accomplishing this objective. The consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.


WOW, WHAT A DISASTER THIS STOCK IS AND HAS BEEN FOR NEARLY A DECADE!!! Shareholders lose EVERYTHING while bailing richie boy out every time!!!