Replies to post #170999 on Iconic Brands Inc (ICNB)

[Lordlordlandlord]

I guess everyone went to sleep before this came out. Should be a lot of discussion on it in the morning.

[TradingBabyishere]

Sorry took a while to read the dang thing lol.

Clearly the sales sucked. At 61k sales we aren’t going anywhere in the hurry.

On the good side, no new debt taken on, all cash is being reinvested into business, and all shares being issued are paying for debt like previously stated. Inventory is also up which is a good thing considering inventory will turn into sales in the coming quarters.

Now we wait and see how the cash reinvested into the business will produce.

At 600k for the 3 months, it a far cry for people who complained that not enough was being done to promote the product.

;-)

[QServus]

Put your bid at .002

[Whiplash_Investor]

Not good. Sales at only 62K far below everyone’s expectations, but does fit with Publix stocking for a seasonal trial. Basic OS is shown at 1.6B, so either he issued that much for expense or he issued all the debtor shares against his promise a year ago if 10% max.

I also noticed a line item for his “deferred” salaries at $500K (probably sum of 2016 and 2017).

He’s also charging (through United Spirits) for $4,478/month for warehouse rental. Since he owns at least 76% of a United Spirits, it’s effectively going to him.

I couldn’t really find anything positive to report. I haven’t poured over them either...on phone screen.