An Update On Iconic Brands Inc (OTCMKTS:ICNB)

It's been a while since we last covered Iconic Brands Inc (OTCMKTS:ICNB) back in February. We've been eagerly awaiting who the celebrity spokesperson was going to be for its line of organic Prosecco Italian sparkling wines. At the time, we speculated that it was most likely going to be Danny DeVito or Christie Brinkley. Well, this month we found out that the deal was done with Christie Brinkley. With all the press Iconic Brands has gotten because of Christie Brinkley, the run in ICNB could be just getting started.First up, a little background on the company for those that are not familiar. Iconic Brands Inc 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.Iconic Brands first popped up on our radar last December after celebrity Chazz Palminteri was behind the company's BiVi 100% Sicilian Vodka. BiVi Vodka proved quite popular and was awarded the prestigious “Gold” medal from the Artisan Spirits Awards of San Francisco after scoring a “91” rating. BiVi Vodka is distributed in Nevada, Illinois, New York, New Jersey, Connecticut, Rhode Island, Massachusetts, Washington DC, Georgia and Florida. Southern Wine and Spirits of Nevada, which supplies almost all of the Las Vegas casinos and nightclubs, is a large distributor of BiVi Vodka.BiVi Vodka is a great brand, but it didn't move the needle on the stock price in 2016. Shares were in a downtrend off the February highs and had been as low as $.0001 at one point. This weakness all changed this month with Bellissima Prosecco, www.BellissimaProsecco.com, developed by CEO Richard DeCicco in conjunction with International Celebrity and entrepreneur Christie Brinkley. Iconic Brands now controls a 51% interest in Bellissima.Bellissima is a line of Organic Prosecco that was launched a few months ago, with demand already outpacing the company's expectations. The line includes a DOC Brut, Sparkling Rose and a Zero Sugar, Zero Carb option which are All Natural and Gluten Free with all Certified Organic and Vegan. The brand is currently available in 12 markets with 18 pending approvals and distribution through Southern Glazers, Empire Brands, Allied Distributing, Horizon Beverage Group, and Empire Distributing.Bellissima aims to be the Premium Product in the Prosecco category. In the US, the Prosecco market is approaching 5 million case sales annually and grew 34% last year. The UK market is even more robust, where last year for the first time ever Prosecco over took its French rival Champagne in sales.The latest news from the company is that BLADE, www.flyblade.com, will be pouring Bellissima in all Blade Lounges and aboard BLADEone. BLADEone claims the most unique jet service between Manhattan and Miami. CEO Richard DeCiccio said:

"Bellissima is a unique and special product, and BLADE is a unique and special air service. We are happy to associate our brand with other forward thinking companies and look forward to many additional partnerships."

Iconic Brands is also working to reduce its outstanding share count, which ballooned to 814,790,609 common shares as of December 15. On December 16, the company said:

Additionally Management is pleased to announce that Iconic has reached an agreement with its existing note holders, whereby terms of conversion have been renegotiated to not less than $.0015 and whereby no more than $20,000 USD can be sold in any single month without prior written approval from Management. Additionally, Management reserves the right to negotiate a final purchase of all outstanding debt during the 1 year term. Management wants to thank Iconic debt holders for working with the Company and assisting its growth. Iconic has updated its Security Details on OTC Markets to accurately reflect the current share structure, and Management is working towards completing current financial reports.

Currently trading with a market cap of $2.68 million, ICNB is an exciting story among small caps. Signing a deal with a celebrity like Christie Brinkley is a big deal for any company, let alone a company on the OTC Markets. We look forward to the company updating its financials and regaining full compliance status. This will provide a much clearer picture for investors and keep the stock on an upward trajectory. This is the only argument the bears can make about ICNB and one which we hope the company can silence within the coming weeks. We will be updating our subscribers as soon as we know more. For the latest updates on ICNB, sign up below!Disclosure: We have no position in ICNB and have not been compensated for this article.