Iconic Brands Inc (ICNB)

[DBS02892]

Well unless I'm missing something, one thing that's not hard to interpret is that line (in the 'Additional Issuance of Common Stock' section of item 5) :

At March 31, 2010, the Company had 47,712,957 shares of common stock issued and outstanding.

That's compared to 24,471,035 shares outstanding on December 31 2009, so pretty much 100% increase.

In addition, they have a bunch of litigation pending which tend to show they are not paying their bills (see Item 3. Legal Proceedings), and sales that have decreased 50% in 2009, while their operational losses increased 80% (they lost $4,907,434 in 2009 vs $2,451,706 in 2008).

I have a lot of respect for Tec and Epic, but I'm starting to think this one might never make it to the 'great calls' list Unless you're committed to remain invested in this for the long term, and somehow the management team ends up turning things around ... One strategy could be to keep averaging down and hope for a few upbeat PRs to get out even or with a slight loss. Another would be to just bite the bullet and take the hit to move on

I'd be interested in reading what you guys think ...