Iconic Brands Inc (OTCMKTS:ICNB) is a micro-cap name that has started to engage great focus among traders and investors as prices get monstrous traction in bounce mode. The stock has been on fire of late. Among recent catalysts, the company just announced that Bellissima Prosecco finished the last 8 weeks of 2016 (an initial sales cycle) with sales nearing 7,000 cases, and additional case sales were only limited by initial inventory. According to the release, the company is positioned with current monthly allocated capacity of 30,000 cases, which can be increased based on demand.
The chart shows in excess of 1100% piled on for shareholders of the stock during the trailing month. The situation may be worth watching. ICNB has a history of dramatic rallies. In addition, the company has benefitted from a jump in recent trading volume to the tune of greater than 1700% beyond what we have been seeing over the larger time frame.
Iconic Brands Inc (OTCMKTS:ICNB) bills itself as a company that produces wines. The company is based in Amityville, New York.
According to company materials, “Iconic Brands Inc. is a beverage company with the highest expertise of developing, from inception to completion, alcoholic beverages for itself and third parties. Iconic Brands markets and places products into national distribution through long-standing industry relationships. Iconic is also a leader in “Celebrity Branding” of beverages, procuring superior and unique products from around the world and branding its products with internationally recognized celebrities.”
Find out when $ICNB stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
The company recently took a controlling interest in Bellissima Prosecco, accounting for the rocket launch in share prices in the last few weeks. Management has been duly excited.
CEO Richard DeCicco stated, “In all my years in the industry and having been party to many successful brands over the years, I can honestly say my excitement and enthusiasm for this brand, our brand partner and the market timing has never been higher. I look forward to consumers enjoying the finest prosecco on earth.”
Additionally, management is recently announced that ICNB reached an agreement with its existing note holders, whereby terms of conversion have been renegotiated to not less than $.0015 and whereby no more than $20,000 USD can be sold in any single month without prior written approval from Management. Additionally, Management reserves the right to negotiate a final purchase of all outstanding debt during the 1-year term. Management wants to thank Iconic debt holders for working with the Company and assisting its growth. Iconic has updated its Security Details on OTC Markets to accurately reflect the current share structure, and Management is working towards completing current financial reports.
As noted in the company’s most recent press, Bellissima is currently available in 10 states, New York, New Jersey, Connecticut, Massachusetts, Florida, Texas, Nevada, Pennsylvania, South Carolina, and Illinois with the following state registrations either complete or pending and coming on line in phase two of the launch program no later than February 15th: Vermont, Georgia, Tennessee, Alabama, Louisiana, Oklahoma, California, Washington State, Arizona, Minnesota, Wisconsin, Montana, Ohio, Kentucky, Rhode Island, New Hampshire, North Carolina, Maine and Michigan.
CEO Richard DeCicco stated, “The initial demand for Bellissima Prosecco has been overwhelmingly positive and strong. It’s our goal to become the brand of choice in what’s currently an unbranded category; some say Prosecco, we say Bellissima!”
Additionally, the company is finalizing the quarterly financial reports, and expects to file them imminently.
At this time, carrying a capital value in the market of $0.2M, ICNB has virtually no cash on the books, which stands against about $892K in total current liabilities. One should also note that debt has been growing over recent quarters. ICNB is pulling in negligible trailing 12-month revenues of $5K. This is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of $ICNB stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!