LINDENHURST, NY--(Marketwired - Oct 18, 2016) - Iconic Brands, Inc. (OTC PINK: ICNB) announced today a brief corporate update, management is committed to moving the company and its brands in positive direction, we have been in negotiations and executed standstill agreements with our major debt holders as we work towards a disposition and resolution, although there can be no assurance that we reach an acceptable settlement, we are confident this matter will be resolved shortly in a manner which will allow Iconic to realize its value and attract appropriate support.
Additionally we have retained a new accounting firm to bring all our books and records back to current and compliant status.
As it relates to our brands the company looks forward to sharing extremely positive and exciting news with our shareholders very soon. Richard DeCicco stated, "While these have been some of the most exciting times from a product perspective, they've also been very challenging times as it relates to our shareholder value, I'm confident were on the cusp of getting all in order and I look forward to sharing with our loyal shareholders".
About Iconic Brands, Inc. Iconic Brands Inc. ("Iconic") 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.
Forward-Looking Statements This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could", "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with the Securities and Exchange Commission and available at www.sec.gov.