Iconic Brands Inc (ICNB)

[236T568]

ICNB continues with the MASSIVE DILUTION


Issues a press release regarding a $3.125 million private placement:

https://www.otcmarkets.com/stock/ICNB/news/Iconic-Brands-Announces-3125-Million-Private-Placement?id=234714


MASSIVE DILUTION


adds 10 million common shares to the fully diluted common shares outstanding, more than doubling the current outstanding common shares of 8.6 million. MASSIVE DILUTION.


5 million common shares from the convertible preferred with a conversion price of $0.625/share

and

5 million common shares from the warrants with an exercise price of $0.625/share


and it nets only $2.75 million for ICNB, not $3.125 million, after the massive 14% financing fee

the conversion price and exercise price is $0.625, which is a truly significant 32% discount from the market price of $0.92

as an example, a "normal" company would negotiate a premium, not a discount, to the the market price for the conversion and exercise prices of the private placement

This type of financing is done mostly by scam companies with absolutely no potential in their future business plans


but not surprised

and why is this not surprising?

because this is what scam companies do!