Gotcha appreciate the insight, never really thought about that...Rich owns 60 million common and 10 preferred Ds convertible to 51% of the outstanding at time of conversion...Is there enough shares available up to the authorized for him to even exercise his Preferred D's now and who currently has control of ICNB?
Lenders could NEVER obtain control. Any suggestion.....
they could is false according to the filings.
The one share of Series A Preferred Stock, which was issued to Richard DeCicco on June 10, 2009, entitles the holder to two votes for every share of Common Stock Deemed Outstanding and has no conversion or dividend rights.
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