This is better than I expected.... Forget the $
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Posted On: 04/18/2017 7:46:21 PM
Re: PennyStockin #2457
This is better than I expected....
Forget the $5M loss, it is all from the toxic debt being written off at the lowest possible exercise price (so very conservative), not operations.
On the debt, I think they are almost out of the woods.
This is the key...
NOTE 11. SUBSEQUENT EVENTS
On March 28, 2017, the Company executed a Settlement Agreement and Release (the “Settlement Agreement”) with 4 holders of convertible notes payable. Notes payable and accrued interest totaling $892,721 were satisfied through the Company’s issuance of a total of 482,926,829 shares of its common stock.
Total Current Liabilities @ 12/31/2016 = $1.832M
The $7M booked for "derivative liability" is the value of the stock issued to the toxic blood suckers in excess of the original cash borrowed. They do not owe this in cash. When the notes get paid off, whether by cash or stock issuance, this number goes down too and it is not 'negative cash flow'.
Toxic Notes Payable and accrued interest (From Note 6) = $1.065M
$1,065,000 - $892,721 (see Note 11) = $172, 279 <---- This is what is left in toxic debt.
I want to look at the share structure, not sure what the preferred stock is doing.
I think the royalties and compensation to Chaz and Christie are more than reasonable for the value added. I would love Christie to exercise that 1% and gobble up a bunch more.
This is really a sweet investment, because of the product and the celebrities combined. The old debt is almost history fellas....blue horseshoe loves ICNB...somebody may just buy this whole thing quicker than you think.
Forget the $5M loss, it is all from the toxic debt being written off at the lowest possible exercise price (so very conservative), not operations.
On the debt, I think they are almost out of the woods.
This is the key...
NOTE 11. SUBSEQUENT EVENTS
On March 28, 2017, the Company executed a Settlement Agreement and Release (the “Settlement Agreement”) with 4 holders of convertible notes payable. Notes payable and accrued interest totaling $892,721 were satisfied through the Company’s issuance of a total of 482,926,829 shares of its common stock.
Total Current Liabilities @ 12/31/2016 = $1.832M
The $7M booked for "derivative liability" is the value of the stock issued to the toxic blood suckers in excess of the original cash borrowed. They do not owe this in cash. When the notes get paid off, whether by cash or stock issuance, this number goes down too and it is not 'negative cash flow'.
Toxic Notes Payable and accrued interest (From Note 6) = $1.065M
$1,065,000 - $892,721 (see Note 11) = $172, 279 <---- This is what is left in toxic debt.
I want to look at the share structure, not sure what the preferred stock is doing.
I think the royalties and compensation to Chaz and Christie are more than reasonable for the value added. I would love Christie to exercise that 1% and gobble up a bunch more.
This is really a sweet investment, because of the product and the celebrities combined. The old debt is almost history fellas....blue horseshoe loves ICNB...somebody may just buy this whole thing quicker than you think.
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(0)Iconic Brands, Inc. (ICNB) Stock Research Links
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