ICONIC BRANDS INC - ICNB STOCK NEWS

Iconic Brands, Inc. (OTCQB: ICNB) announced its successful compliance with OTC Markets, regaining its listing on the OTCQB Market. The company has met all required standards, including timely financial filings and corporate governance compliance. Chairman Richard DeCicco emphasized the integration of their sustainable packaging business as a major milestone. He expressed optimism for 2023, indicating it will be a transformative year supported by investor confidence. Iconic develops brands and sustainable packaging solutions in the beverage market, serving prominent clients in the alcohol sector.

Iconic Brands, Inc. (OTC: ICNB) reported third-quarter revenue of $3,162,422, marking an increase of $315,985 from the same period in 2021. Cash on hand rose to $2,798,401 from $2,190,814 at the end of 2021. However, the company's operational challenges led to a net operating loss of $4,026,000, a 110% increase year-over-year. Iconic launched Pop Top Naturals and expanded its production capacity from 40 million to 80 million units. The firm noted challenges in securing equipment and licensing as contributing factors to its financial performance.

Iconic Brands, Inc. (OTC: ICNB) is set to participate in the Dawson James 7th Annual Small Cap Growth Conference on October 12, 2022, at the Wyndham Grand Hotel in Jupiter, Florida. Thomas Martin, the Interim CEO, will present in-person and conduct one-on-one investor meetings to discuss the company's strategic developments and milestones. Iconic focuses on developing sustainable packaging solutions and innovative beverage brands, operating with major Fortune 500 clients.

Iconic Brands, Inc. (OTC: ICNB) reported impressive second-quarter 2022 financial results, with total revenue of $6.65 million, a remarkable 1,038% increase year-over-year, surpassing the entire 2021 revenue of $4.9 million. For the first half of the year, revenue surged 778% to $10.7 million. Gross profit also rose 567% to $1.73 million. Cash reserves improved to $4.7 million as of June 30, 2022, from $2.19 million at the end of 2021. The Company continues to develop its product lines and innovate sustainable packaging solutions.

Iconic Brands (OTC: ICNB) reported a record Q1 2022 revenue of $4 million, a remarkable 538% increase year-over-year, largely driven by the acquisition of TopPop LLC's products. Gross profit rose to $1.8 million, up 483%. Cash reserves surged to $7.6 million. The company launched Bellissima Zero, a zero-sugar wine line, and appointed new sales team members. However, net operating losses climbed to $2.97 million, reflecting a 337% increase from last year, and total operating expenses rose significantly to $4.81 million.

Iconic Brands, Inc. (OTCQB: ICNB) has announced the appointment of Tom Martin as interim CEO, effective July 1, 2022. The company plans to change its name to TopPop Innovative Brands, Inc. and its ticker symbol to TPOP, reflecting its focus on sustainable packaging solutions. Major revenue is derived from the TopPop packaging business, indicating a shift toward innovation in alcohol and non-alcohol beverages. The company is set to manufacture around 80 million units in 2022, a significant increase from 8 million in 2020.

Iconic Brands reported a 74% increase in total revenue for the fiscal year 2021, amounting to $4,960,016. This surge is attributed mainly to the acquisition of TopPop LLC, which produced significant sales through its ready-to-freeze products. The unaudited pro forma revenue reached $14,853,763, a notable 192% increase.

Despite the revenue rise, the net loss attributable to Iconic was $10,463,994, while the operating loss from continuing operations was $10,261,585. The company aims to leverage its expanded facilities and product lines for future growth.

Iconic Brands, Inc. (OTCQB: ICNB) announced its Bellissima Prosecco & Wines were featured at the debut New York Bridal Fashion Week Runway Show by Lé Lauriér on April 10, 2022. The event, produced by "Sophisticated Weddings" Magazine, showcased exclusive bridal wear and was attended by over 300 guests. Bellissima was the sole alcohol served, highlighting its position in the market. CEO Larry Romer emphasized the event's alignment with Bellissima's brand goals, especially following the recent launch of the zero sugar wine line.

Iconic Brands (OTCQB: ICNB) has announced the appointment of seven new sales team members, enhancing its national product distribution strategy. This team boasts over 150 years of combined experience in the alcohol and beverage industry, having previously worked with major brands like Jim Beam and PepsiCo. The new hires, strategically located across various regions, aim to strengthen relationships with national retail and restaurant chains. CEO Larry Romer emphasized that this revitalized sales strategy is crucial for driving growth and an immediate return on investment.