Latest news for Iconic Brands (OTC:ICNB) Stock

Iconic Brands Inc is engaged in the development and sale of alcohol and non-alcohol brands that are Better-for-You (BFY) and Better-for-the-Planet. The company's brands include Bellissima by Christie Brinkley, a premium BFY collection of Prosecco, Sparkling Wines, and Still Wines, all certified vegan and made with organic grapes. The Company has two reportable segments: the sale of branded alcoholic beverages segment includes the development and sale of alcohol and non-alcohol brands that are BFY and better-for-the-planet and the specialty packaging segment includes the packaging of low-calorie, ready-to-go products, RTF products, and RTD products in sustainable, flexible and stand-up pouch packaging.

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Benzinga&#39;s Microcap Movers for Wednesday July 25, 2012

Iconic Brands Inc

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Stocks That Hit 52-Week Highs On Tuesday

Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:

HyperSolar

Shares of HyperSolar, (<a class="ticker" href="/stock/hysr#">HYSR</a>), the Santa Barbara, CA developer of technology to make renewable hydrogen using sunlight and any source of water, rose 15.62% Wednesday on 9.5 times average volume.

HyperSolar announced Wednesday that it has completed an end-to-end laboratory scale demonstration using renewable hydrogen produced from sunlight and water to generate electricity in a fuel cell.

HyperSolar closed at $0.04 on Wednesday.

Zale Corporation

Zale Corporation (NYSE: <a class="ticker" href="/stock/zlc#NYSE">ZLC</a>), the Irving, TX jewelry retailer, rose 22.73% Wednesday on 14 times average volume.

Zale announced that Tuesday it has secured a new $665 million credit facility, which includes an amended and extended $650 million Revolving Credit Facility and a new $15 million First-In, Last-Out Credit Facility. The company also announced that it utilized increased availability from these facilities to fund a prepayment of $60.5 million on its Senior Secured Term Loan. In addition, Zale amended and extended its Senior Secured Term Loan with Golden Gate Capital for the remaining $80 million.

Zale Corporation closed at $3.16 on Wednesday.

Iconoc Brands

Shares of Iconoc Brands (<a class="ticker" href="/stock/icnb#">ICNB</a>), the Lynbrook, NY development stage company , rose 400% Wednesday on 4.2 million shares.

Iconic Brands announced a corporate update Wednesday, as related to ongoing operations and forward looking plans. As previously announced in September of last year our wholly owned subsidiary, Iconic Imports Inc. was forced to file chapter 7 bankruptcy when a senior creditor foreclosed on the subsidiary assets. The bankruptcy hearing has been held without claim and is pending discharge. There is no effect on the capital structure; the company maintains approximately 52 million shares outstanding with approximately 20 million in the public float.

In the interim we have aggressively started the process to update our financials and engage in new business opportunities to create value for our shareholders. We anticipate having all of the financials updated by no later than the third quarter ending September 30th, 2012. We have put up a simple website to provide information while going through this process.

Iconic Brands closed at $0.03 on Wednesday.

The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment.

Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.

Benzinga's Microcap Movers for Wednesday July 25, 2012

Iconic Brands

As of Oct. 1, 1,080 cases of vaping-related illnesses have been reported in the U.S.,<a href="https://www.cdc.gov/tobacco/basic_information/e-cigarettes/severe-lung-disease.html"> according to the CDC</a>.

Forty-eight states and one U.S. territory have announced cases of lung disease associated with vaping, and there have been 19 confirmed deaths, with the latest being a 17-year-old boy in the Bronx, New York City <a href="https://www.nydailynews.com/new-york/ny-vape-death-bronx-teen-20191008-hna6332k2bfzrpmkstvxq7jb6u-story.html">whose death was reported Tuesday</a>.

Although research has not yet found a specific chemicals responsible for the outbreak, the CDC is recommending a halt on all vaping consumption while an investigation is ongoing.

While the Trump administration<a href="https://www.fda.gov/news-events/press-announcements/trump-administration-combating-epidemic-youth-e-cigarette-use-plan-clear-market-unauthorized-non"> announced a plan</a> to ban all flavored e-cigarettes from the market, some states like Massachusetts have banned vaping sales altogether in response to the public health concerns.

Of 578 patients with information on the substances they used, about 78% reported using THC-containing products, and 37% reported exclusive use of THC-containing products, the CDC said.

A recent<a href="https://www.nbcnews.com/health/vaping/tests-show-bootleg-marijuana-vapes-tainted-hydrogen-cyanide-n1059356"> NBC News investigation</a> found toxic substances like hydrogen cyanide and vitamin E acetate in 13 out of 15 THC products purchased on the black market in California.

The same research found no toxic substances in three legal products that were also tested.

As the situation escalates and physicians remain in the dark as to the scientific reasons behind the epidemic, Benzinga reached out to two of the most prominent legal vaping brands for their take on the subject.

<a href="http://benzingacannabisconference.com/">Click here</a> for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.

<h3>TILT Holdings COO: No Dramatic Effect On Sales</h3>

Tim Conder, COO of TILT Holdings (OTC:<a href="https://www.benzinga.com/stock/tlltf#OTC"> TLLTF</a>) said his company has not seen a decrease in sales since the so-called &ldquo;vaping crisis&rdquo; became publicly known.

TILT owns and operates Jupiter Research, a brand that sells and develops vaping products, including THC-filled cartridges.

TILT generates over 70% of its revenue from vaping equipment and oils since the acquisition of Jupier in early 2019, according to a <a href="https://mjbizdaily.com/new-report-impact-outlook-for-investors-in-wake-of-cannabis-vape-crisis/">recent report</a> by MJBizDaily.

This level of exposure to the vaping market puts it second only to Greenlane Holdings (NASDAQ:<a class="ticker" href="/stock/GNLN#NASDAQ">GNLN</a>), which reported $181 million in annual revenue, with 80% coming from the vaping industry, versus TILT&rsquo;s $98 million.

&ldquo;The most important thing is to continue to offer our highest standards from manufacturing on our end and then to provide transparency into that process for our customers,&rdquo; Conder said.

Consumers should &ldquo;demand transparency throughout the supply chain&rdquo; and have an understanding of where the hardware is manufactured and under what guidelines the cannabis extracts have been produced, he said.

The company is not expecting these events to heavily affect the development of the cannabis vaping industry in the long term, the COO said.

&ldquo;From our perspective, we foresee a very robust vaping industry from the cannabis end, and we look forward to the growth of that part of the market,&rdquo; Conder said.

The biggest takeaway from the outbreak of lung illness will be the strengthening of brands and operators that have the tightest adherence to safe production practices, accompanied by an understanding of the importance of regulation to ensure consumer safety, he said.

<h3>Iconic Brands CEO: Pay Attention To Ingredients</h3>

The overall industry has seen a decrease of between 15% to 18% in sales of legal vaping products for recreational use since the outbreak of vaping related illnesses emerged in August,&nbsp;Iconic Brands (OTC:<a href="https://www.benzinga.com/stock/icnb#OTC"> ICNB</a>) CEO and Chairman John Gorst told Benzinga.

The Headset platform is showing a decline of cannabis vape sales of 5.1% in California and 6.2% in Colorado.

Between 75% and 80% of the lost vape share is going to flower, which has seen sales increases of 3.8% and 5.1% in California and Colorado, respectively, according to MJBizDaily.

Iconic Brands has not yet seen these numbers reflected in its own sales in most of the states where it operates, Gorst said.

&ldquo;The black market is probably going to be the one that&rsquo;s impacted the most by this information,&rdquo; he said, adding that an underregulated market is the main culprit of the lung disease outbreak.

&ldquo;Anytime you have unregulated markets, you&rsquo;re going to have a higher percentage of bad actors and people that are not following the rules.&rdquo;

In order to ensure the safety of its products, Iconic has partnered with Lucid Green and other providers to supply customers with updated lab information on the chemical composition of each product, including ingredients, cannabinoids and possible toxicity. This gives consumers a full insight into the safety of the product they&rsquo;re using, Gorst said.

&ldquo;Inhaling any type of products in your lungs is not exactly healthy. But we believe that vaping with a reputable company is still safer than smoking flower,&rdquo; the CEO said, adding that he is advising consumers to stay vigilant for black market products from unlicensed sellers.

See Also: <a href="https://www.benzinga.com/markets/cannabis/19/10/14561856/what-cannabis-advocates-and-activists-are-saying-about-the-vaping-crisis-on-social-media">What Cannabis Advocates And Activists Are Saying About The Vaping Crisis On Social Media</a>

<h3>Safeguarding In The Legal Industry</h3>

Both execs said they&#39;re confident that buying legal products from reputable brands at licensed retailers should guarantee a safe vaping experience.

Cannalysis, a California testing lab, recently developed a new method for identifying vitamin E acetate, which is believed to be one of the main agents responsible for the vaping-related illnesses.

The response to the illnesses has been almost too reactionary and alarmist, said Swetha Kaul, Ph.D, Cannalysis&#39; chief scientific officer.

The California Department of Public Health recently<a href="https://www.cdph.ca.gov/Programs/CCDPHP/Pages/Vaping-Health-Advisory.aspx"> issued a statement</a> urging citizens to refrain from vaping altogether.

Legal brands are taking the right approach to the recent outbreak, Kaul said.

Many licensed operators showed immediate interest in testing for vitamin E acetate after the compound was identified in 55% of the initial cases, she said.

&quot;The legal cannabis industry has extremely rigorous testing requirements. In California, we are required to test cannabis products for heavy metals, pesticides, residual solvents, microbial contamination, water activity, moisture content and foreign materials. These testing requirements mean that legal cannabis in California is safer to consume than some fruits and vegetables.&quot;

Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:

HyperSolar

Shares of HyperSolar, (<a class="ticker" href="/stock/hysr#">HYSR</a>), the Santa Barbara, CA developer of technology to make renewable hydrogen using sunlight and any source of water, rose 15.62% Wednesday on 9.5 times average volume.

HyperSolar announced Wednesday that it has completed an end-to-end laboratory scale demonstration using renewable hydrogen produced from sunlight and water to generate electricity in a fuel cell.

HyperSolar closed at $0.04 on Wednesday.


Zale Corporation

Zale Corporation (NYSE: <a class="ticker" href="/stock/zlc#NYSE">ZLC</a>), the Irving, TX jewelry retailer, rose 22.73% Wednesday on 14 times average volume.

Zale announced that Tuesday it has secured a new $665 million credit facility, which includes an amended and extended $650 million Revolving Credit Facility and a new $15 million First-In, Last-Out Credit Facility. The company also announced that it utilized increased availability from these facilities to fund a prepayment of $60.5 million on its Senior Secured Term Loan. In addition, Zale amended and extended its Senior Secured Term Loan with Golden Gate Capital for the remaining $80 million.

Zale Corporation closed at $3.16 on Wednesday.


Iconoc Brands

Shares of Iconoc Brands (<a class="ticker" href="/stock/icnb#">ICNB</a>), the Lynbrook, NY development stage company , rose 400% Wednesday on 4.2 million shares.

Iconic Brands announced a corporate update Wednesday, as related to ongoing operations and forward looking plans. As previously announced in September of last year our wholly owned subsidiary, Iconic Imports Inc. was forced to file chapter 7 bankruptcy when a senior creditor foreclosed on the subsidiary assets. The bankruptcy hearing has been held without claim and is pending discharge. There is no effect on the capital structure; the company maintains approximately 52 million shares outstanding with approximately 20 million in the public float.

In the interim we have aggressively started the process to update our financials and engage in new business opportunities to create value for our shareholders. We anticipate having all of the financials updated by no later than the third quarter ending September 30th, 2012. We have put up a simple website to provide information while going through this process.

Iconic Brands closed at $0.03 on Wednesday.


The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment.

Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.

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