Iconic Brands Inc (ICNB)

[Drugdoctor]

WOWSERS-OMG-The SERIES-E PREFERRED-SHARES (WILL-NOT-REVERSE-SPLIT)

So buried in the notes and shrouded in legal mumbo-jumbo - here are the terms...

So to make it clearer, I took the bolded out and made a sentence without all the mumbo-jumbo...

At any time after the date hereof, of any capital reorganization the shares of Series E Convertible Preferred Stock shall be convertible into the kind and number of shares of stock or other securities or property of the Corporation to which such holder would have been entitled if immediately prior to such reorganization it had converted its shares of Series E Convertible Preferred Stock into Common Stock.


https://www.sec.gov/Archives/edgar/data/1350073/000147793218004551/icnb_ex37.htm

6. Reorganization.



6.1 General Provisions. In case, at any time after the date hereof, of any capital reorganization, or any reclassification of the stock of the Corporation (other than a change in par value or as a result of a stock dividend or subdivision, split-up or combination of shares), or the consolidation or merger of the Corporation with or into another person (other than a consolidation or merger in which the Corporation is the continuing entity and which does not result in any change in the Common Stock), or of the sale or other disposition of all or substantially all the properties and assets of the Corporation as an entirety to any other. person, the shares of Series E Convertible Preferred Stock shall, after such reorganization, reclassification, consolidation, merger, sale or other disposition, be convertible into the kind and number of shares of stock or other securities or property of the Corporation or of the entity resulting from such consolidation or surviving such merger or to which such properties and assets shall have been sold or otherwise disposed to which such holder would have been entitled if immediately prior to such reorganization, reclassification, consolidation, merger, sale or other disposition it had converted its shares of Series E Convertible Preferred Stock into Common Stock. The provisions of this Section 6.1 shall similarly apply to successive reorganizations, reclassifications, consolidations, mergers, sales or other dispositions.



6.2 No Impairment. The Corporation will not, through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, including amending this Certificate of Designation, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed hereunder by the Corporation, but will at all times in good faith assist in the carrying out of all the provisions of this Section 6 and in the taking of all such action as may be necessary or appropriate in order to protect the conversion rights of the holders of Series E Convertible Preferred Stock against impairment. This provision shall not restrict the Corporation from amending its Articles of Incorporation in accordance with the General Corporation Law of the State of Nevada and the terms hereof.