Replies to post #145991 on Iconic Brands Inc (ICNB)

[QServus]

"this is not your average penny scam"

I totally agree. DeCicco is an advanced scammer. Funnelling money from public entity to his private one and charging $81,000 in "entertainment" costs for 6 months while ICNB recorded a $300,000 operating loss - seems like a huge scam to me

[Smallville]

I'm sure Decicco already warned her off buying shares.

People make this such a black and white issue when it isn't.

Do I think Decicco is an outright con man? No.

Do I think Decicco is a 1 trick pony? Yes.

He gives it a fair shot and when it doesn't work out he does what he has to do to get by.

He owns United Spirits and 'leases' a product to ICNB. If the product becomes a huge hit and he sells it he gets aprox 76% of the proceeds.

That's the endgame. Sell the product.

If it isn't a success he keeps the train running as long as he can using OPM.

Other Peoples Money.

He can't get bank loans so he uses toxic loans. It's the beginning of the end and everyone who's been around the block KNOWS IT.

He get's to stay at nice hotels and eat at great restaurants.

He get's shareholders to pay rent on his warehouse and pay the utilities.

Of course he's going to keep this going as long as he can!