Iconic Brands Inc (ICNB)

[Whiplash_Investor]

Straight from page F-12 of the S-1. The only reason that United’s numbers are included. Wait til United’s business is more from Hooters, then the auditors will disallow this. Even so, valuation of a company comes from the revs that come with it and unless Rich gives 51% of Hooters drinks to Iconic, too. Iconic will get 0 value.

“Since Iconic has been determined to be the primary beneficiary of United, we have included United’s assets, liabilities, and operations in the accompanying consolidated financial statements of Iconic.”