Monday, April 03, 2023 2:52:44 PM
Problem so far is, yes, expenses exceed revenues. This is normal for the first several years. However, when you keep shooting yourself in the foot, it costs you time, money and customers. It's not easy to start a new business in a category, but these wounds are self inflicted, and now more $ needed.
DeCicco, IMHO, will fix this, but I expect a new CEO to step in afterwards. Not optional.
A main criticism is that ICNB has so far not adequately put forth a "story" or kept investors informed. Dismal. You learn more from iHub than management. That's sad.
In marketing, stories sell. You can see who tells their story best especially so in the small cap space. I see other stocks with meager sales (if any) and bigger losses, yet they have a market cap of $100+ million. Makes it easier to raise money too when needed.
If ICNB thinks it can basically double sales this year (excluding the two customers), that's an important development. Yet, no PR today. Also, how's Hooters doing? or the newly released Naturals product? I can go on...
I'd fire everyone in investor relations / marketing.
PS: In the 10k, they specifically say "TO DATE" these two customers have not reordered. That's classic double speak for leaving a possible opening. Maybe ICNB has been told there's a chance to clean up their act and get these customers back next year? Who knows.
Greenlite Ventures Completes Agreement with No Limit Technology • GRNL • Jul 19, 2024 10:00 AM
VAYK Expects Revenue from First Airbnb Property Starting from August • VAYK • Jul 18, 2024 9:00 AM
North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • NBRI • Jul 18, 2024 9:00 AM
Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • NGTF • Jul 17, 2024 1:00 PM
Kona Gold Beverages Reaches Out to Largest Debt Holder for Debt Purchase Negotiation • KGKG • Jul 17, 2024 9:00 AM
Avant Technologies Welcomes Back Former CEO with Eye Toward Future Growth and Expansion • AVAI • Jul 17, 2024 8:00 AM