I had mentioned this earlier. This Q1 report is the financials as of March 31, 2017. ICNB came out with the following announcement on April 27 (after the Q1 FINS).

The majority of those notes have been (or shortly will be) settled based on the following PR.

This is why it would be nice for a PR to tie in the 4/27 developments with the Q1 FINS and also perhaps some bread crumbs with new developments.


Iconic Brands Debt Settlement News

AMITYVILLE, NY -- (Marketwired) -- 04/27/17 -- Iconic Brands, Inc.
(OTC PINK: ICNB) today further clarified the definitive settlement
terms representing over 80% of the company's debt, as well announced
the company expects the balance to be settled shortly.

Under the prior terms, the company's existing debt could have
converted into an unknown and potentially exorbitant amount of common
shares and interest would have continued to accrue at a relatively
rapid rate. This coupled with the potential to disrupt the daily flow
of the market for the Company's shares has now been eliminated.