Thats a good question. there is a lot of information we can gather from it.
prior to that PR you quoted, ICNB released another one in December:
http://www.marketwired.com/press-release/upda...181142.htm
Controlling interest occurs when a shareholder, or a group acting in kind, holds a majority of a company's stock. By definition, this figure is 50% of the outstanding shares, plus one.
http://www.investopedia.com/terms/c/controllinginterest.asp..
..ICNB did this with 51%
http://greatideas.people.com/2016/04/15/chris...ellissima/
It gives ICNB the majority vote. This means then that the remaining 49% is minority interest (technically called NCI aka noncontrolling interest).
Its been a while since i dealt with this stuff, but if im not mistaken, the remaining 49% ends up on ICNB's balance sheet, meaning when ICNB files with the SEC, we'll see ICNB's 51% interest, including revenues, debts, etc etc.. but also we'll see the remaining 49% interest in the same filings showing the remaining 49% revenues.
I see what youre asking. Youre asking if $14 million profit is made this year, does only 51% of that ($7,140,000) show up on ICNB's filings. My assumtion is no. We'll see $7,140,000 profit but also the remaining $6,860,000 in a different section.
I have no information as to if ICNB plans on ownig 100% interest in the brand. right now, thats not even important to consider. Once we get May's 10Q we'll know much more, and all these 'guesses' we're making will be confirmed with actual numbers.
Note
I could be completely wrong. I havent dealt with this stuff in years.
prior to that PR you quoted, ICNB released another one in December:
http://www.marketwired.com/press-release/upda...181142.htm
Quote:announced today a Letter of Intent "LOI" to acquire controlling interest of Bellissima Prosecco
Controlling interest occurs when a shareholder, or a group acting in kind, holds a majority of a company's stock. By definition, this figure is 50% of the outstanding shares, plus one.
http://www.investopedia.com/terms/c/controllinginterest.asp..
..ICNB did this with 51%
Quote:Brinkley will introduce officially Bellissima at the biggest wine and spirits assembly in the U.S. — the WSWA Annual Convention & Exposition — in Las Vegas, on April 19 – 20.
http://greatideas.people.com/2016/04/15/chris...ellissima/
It gives ICNB the majority vote. This means then that the remaining 49% is minority interest (technically called NCI aka noncontrolling interest).
Its been a while since i dealt with this stuff, but if im not mistaken, the remaining 49% ends up on ICNB's balance sheet, meaning when ICNB files with the SEC, we'll see ICNB's 51% interest, including revenues, debts, etc etc.. but also we'll see the remaining 49% interest in the same filings showing the remaining 49% revenues.
I see what youre asking. Youre asking if $14 million profit is made this year, does only 51% of that ($7,140,000) show up on ICNB's filings. My assumtion is no. We'll see $7,140,000 profit but also the remaining $6,860,000 in a different section.
I have no information as to if ICNB plans on ownig 100% interest in the brand. right now, thats not even important to consider. Once we get May's 10Q we'll know much more, and all these 'guesses' we're making will be confirmed with actual numbers.
Note
I could be completely wrong. I havent dealt with this stuff in years.
1
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