v3.20.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 916,686 $ 263,638
Accounts receivable (less allowance for doubtful accounts of $26,513 and $26,513, respectively) 247,965 573,747
Inventories 638,144 573,800
Prepaid expenses 126,005
Total current assets 1,928,800 1,411,185
Right-of-use assets, less accumulated amortization of $148,317 and $125,921, respectively 114,440 136,836
Leasehold improvements, furniture, and equipment (less accumulated depreciation and amortization of $4,615 and $0, respectively) 24,093 20,000
Investment in and receivable from Can B Corp 1,000,000 1,000,000
Total assets 3,067,333 2,568,021
Current liabilities:    
Current portion of operating lease liabilities 84,286 90,982
Accounts payable and accrued expenses 1,698,492 1,852,563
Loans payable to officer and affiliated entity-noninterest bearing and due on demand 29,744 45,131
Note payable 15,000 40,000
Total current liabilities 1,827,522 2,028,676
Non-current portion of operating lease liabilities 33,943 49,147
Total liabilities 1,861,465 2,077,823
Commitments and contingencies (Note 13)
Stockholders' equity:    
Preferred stock value
Common stock, $.001 par value; authorized 200,000,000 shares, 15,985,681 and 14,576,681 shares issued and outstanding respectively 15,986 14,577
Additional paid-in capital 21,624,713 21,282,679
Accumulated deficit (23,763,668) (22,925,748)
Total Iconic Brands, Inc. stockholders' equity 2,319,897 1,530,049
Noncontrolling interests in subsidiaries and variable interest entity (1,114,029) (1,039,851)
Total stockholders' equity 1,205,868 490,198
Total liabilities and stockholders' equity 3,067,333 2,568,021
Preferred Stock Series A [Member]    
Stockholders' equity:    
Preferred stock value 1 1
Preferred Stock Series B [Member]    
Stockholders' equity:    
Preferred stock value 2,115 2,790
Preferred Stock Series F [Member]    
Stockholders' equity:    
Preferred stock value 2,965,750 3,155,750
Preferred Stock Series G [Member]    
Stockholders' equity:    
Preferred stock value $ 1,475,000 $ 0

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