Tuesday, July 31, 2012

ICNB from $.0012 to $.09 In 7 Trading Days

ICNB has had quite the rally from $.0012 to $.09.  A purchase for $120 would be valued at $9,000 at today's high of $.09.

A very impressive rally.  Here is some of the news that helped propel the stock higher.

Iconic Brands-ICNB Corporate Update

NEW YORK, Jul 25, 2012 (BUSINESS WIRE) -- Iconic Brands, Inc. (Iconic) (OTCBB: ICNB) announces corporate updates as related to ongoing operations and forward looking plans. As previously announced in September of last year our wholly owned subsidiary, Iconic Imports Inc. was forced to file chapter 7 bankruptcy when a senior creditor foreclosed on the subsidiary assets. The bankruptcy hearing has been held without claim and is pending discharge. There is no effect on the capital structure; the company maintains approximately 52 million shares outstanding with approximately 20 million in the public float.
In the interim we have aggressively started the process to update our financials and engage in new business opportunities to create value for our shareholders. We anticipate having all of the financials updated by no later than the third quarter ending September 30th, 2012. We have put up a simple website to provide information while going through this process. www.icnb.info
It should be noted that on July 24th we received a notice from OTCMarkets that our company stock has been labeled with "Caveat Emptor" for unusual trading in terms of price and/or volume of the security without current information available for investors, we have spoken with OTCMarkets and they're aware that the company is updating the information and will remove this moniker immediately post of our filings.
About Iconic Brands, Inc.
Headquartered in New York, NY Iconic Brands historically developed, marketed and distributed high-quality branded alcoholic beverages, the company is currently evaluating several business opportunities for new product launch this year and possible business combinations.
Forward-Looking Statements
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Iconic's expectations with regard to the future impact on the their results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Additional information on risks and other factors that may affect the business and financial results of Iconic Brands, Inc. can be found in the filings of Iconic Brands, Inc. with the U.S. Securities and Exchange Commission
SOURCE: Iconic Brands, Inc.

No comments: