OTC Bulletin Board

S & P Company Insight for ICONIC BRANDS INC
 
 Profile

 
Business Summary: Iconic Brands, Inc. engages in the manufacture, sale, import, and wholesale of spirits, wine, and beer in the United States and internationally. The company offers its products primarily under the Danny DeVito's Premium Limoncello, Glen Master Single Malt Scotch Whisky, St.
 
Address
  1174 Route 109
  Lindenhurst , NY 11757
  Phone: 631-991-3174
  Fax: 631-991-3175
  Website: http://www.iconicbrandsusa.com
Auditor
  Michael T. Studer CPA P.C
Transfer Agent
  Island Stock Transfer
Employees:  9
ShareHolders:  362
Founded:  2005
Domicile:  Nevada
 
  
 
 Background

 
Iconic Brands, Inc. engages in the manufacture, sale, import, and wholesale of spirits, wine, and beer in the United States and internationally. The company offers its products primarily under the Danny DeVito's Premium Limoncello, Glen Master Single Malt Scotch Whisky, St. Andrews The Champion Whisky, and Bench 5 and Bench 15 Premium Scotch Whisky brands to distributors and retail licensees. Iconic Brands, Inc. was founded in 1999 and is based in Lindenhurst, New York.
History:  INCORPORATED in Nevada Oct. 21, 2005, as Paw Spa, Inc.; name changed to Iconic Brands, Inc. May 7, 2009. On June 10, 2009, the company acquired Harbrew Imports Ltd. (Harbrew New York), a New York corporation incorporated on Sept. 8, 1999, through the merger of a wholly owned subsidiary of the company into Harbrew New York. Prior to the merger, Harbrew New York was a wholly owned subsidiary of Harbrew Imports Ltd. Corp., a Florida corporation. In the merger, the company issued to the designees of Harbrew New York 27,151,984 Common shares. Harbrew New York later changed its name to Iconic Imports, Inc.
 
Subsidiaries:
Iconic Imports, Inc.
 
 
 
 
  
 
 Management

 

Management
OfficersPosition
 Richard J. DeCiccoChairman, President, Secretary & Chief Executive Officer
 William S. BlackerChief Financial Officer, Chief Accounting Officer & Chief Administrative Officer

Directors
 Richard J. DeCicco
 Daniel L. Martinez
 Mark A. Wood
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20092008
REVENUES
Sales773,5551,565,520
EXPENSES
Cost of Goods Sold(613,494)(1,163,042)
License & Permits(4,315)(37,254)
Occupancy and Warehousing(155,793)(233,187)
Selling and Marketing: Promotion(331,306)(455,700)
Office(36,678)(40,741)
Professional Fees(692,062)(492,492)
Administrative Compensation and Benefits(860,275)(1,327,161)
Others(40,764)(39,979)
Travel and Entertainment(115,787)(227,670)
Interest Expense(656,818)(1,227,627)
Other Income98,411-
Stock-based Compensation Issued in Connection with Merger(2,272,108)-
Net Income (Loss)(4,907,434)(3,679,333)
SUPPLEMENTARY INFO
Gross Profit/loss160,061402,478
Operating Income (Loss)(4,349,027)(2,451,706)
Basic EPS - Continuing Operations(0.20)(183.36)
 
Balance Sheet
  20092008
CURRENT ASSETS
Cash and Cash Equivalents23,88910,970
Accounts Receivables254,268484,164
Inventories393,811738,507
Prepaid Expenses and Other Current Assets391,140595,769
Total Current Assets1,063,1081,829,410
NON CURRENT ASSETS
Property, Plant and Equipment, Net7,2736,294
Restricted: Cash and Cash Equivalents75,000100,000
Total Assets1,145,3811,935,704
CURRENT LIABILITIES
Accounts Payable1,290,6801,481,916
Accrued Expenses and Other Current Liabilities1,500,652938,494
Current Portion of Debt803,0644,422,393
Total Current Liabilities3,594,3966,842,803
NON CURRENT LIABILITIES
Long-term Debt1,774,9442,292,380
Preferred Stock Non Redeemable1-
Preferred Stock Convertible1,833,206-
SHAREHOLDERS' EQUITY
Common Stock - Par Value448-
Additional Paid in Capital7,327,9551,278,656
Retained Earnings (Deficit)(13,385,570)(8,478,135)
Total Shareholders Equity(4,223,959)(7,199,479)
Total Liabilities & Shareholders Equity1,145,3811,935,704
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2010   1270,000
  2009   180,000
  2009   2250,000
  2009   3160,000
  2009   4280,000
  2009   Full Year 770,000
  2008   1510,000
  2008   2290,000
  2008   3250,000
  2008   4510,000
  2008   Full Year 1,600,000
  2007   1170,000
  2007   2180,000
  2007   3360,000
  2007   4950,000
  2007   Full Year 1,660,000
  2006   4460,000
  2006   Full Year 1,250,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2010   1(760,000)
  2009   3(510,000)
  2009   4(670,000)
  2009   Full Year (4,910,000)
  2008   Full Year (3,680,000)
  2007   Full Year (3,400,000)
  2006   Full Year (1,250,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2010   1(.02)
  2009   1(29.24)
  2009   2(.31)
  2009   3(.01)
  2009   4(.01)
  2009   Full Year (.20)
  2008   1(41.19)
  2008   2(69.01)
  2008   3(42.03)
  2008   4(36.31)
  2008   Full Year (.18)
  2007   1(30.77)
  2007   2(76.62)
  2007   3(66.71)
  2007   4(58.70)
  2007   Full Year (235.94)
  2006   4(37.85)
  2006   Full Year (100.44)
 
  
 
 Stock Data

 
 
Capitalization as of 03/31/2010:
 
 Authorized SharesOutstanding Shares
Common $0.00001 par100,000,00047,712,957
Preferred $0.00001 par100,000,000916,604so2
 
LONG TERM DEBT: $1,665,487.
 
Common $0.00001 par
 
Stockholders:  03/31/2010, 362.
Transfer Agent:  Island Stock Transfer   St. Petersburg , FL
 
OTC Bulletin Board( Primary): ICNB
 
ExchangeYearHighLow
OTC Bulletin Board20090.60000.0600
 
DIVIDENDS: Common $0.00001 par: No cash. Common split 20-for-1, May 12, 2009.
 
 
  so2Closely held. Consists of 1 Series A share and 916,603 Series B shares. Each Series B share is convertible into one Common share at the lower of $2.00 per share or the volume weighted average price per share for the 20 trading days immediately prior to the conversion date. Series B has a liquidation preference of $2.00 per share.