v3.19.3
Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities    
Net income (loss) attributable to Iconic Brands, Inc. $ (2,330,097) $ (1,042,472)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Net income (loss) attributable to noncontrolling interests in subsidiaries and variable interest entity (435,939) (451,593)
Note payable to consultant issued February 7, 2019 and charged to consulting fees 50,000
Stock-based consulting fees 775,700 23,250
Expense (income) from derivative liability (314,072)
Amortization of debt discounts (107,846)
Changes in operating assets and liabilities:    
Accounts receivable (79,431) 189,939
Inventories (460,878) (218,042)
Prepaid expenses (25,000)
Notes receivable from related parties of Green Grow Farms, Inc. (287,700)
Accounts payable and accrued expenses 359,473 235,487
Accrued interest payable 29,698
Net cash used in operating activities (2,408,872) (1,464,959)
Investing Activities:    
Leasehold improvements (15,000)
Net cash used in investing activities (15,000)
Financing Activities :    
Proceeds from sale of Series F Preferred Stock and warrants (net of placement agent fees of $322,500) 2,802,500
Proceeds from sale of Series E Preferred Stock and warrants 509,380 300,000
Proceeds from exercise of warrants 307,200
Loans payable to officer and affiliated entity (16,369) 62,107
Net cash provided by financing activities 3,602,711 362,107
Increase (decrease) in cash and cash equivalents 1,178,839 (1,102,852)
Cash and cash equivalents, beginning of period 191,463 1,237,432
SUPPLEMENTAL CASH FLOW INFORMATION:    
Income taxes paid
Interest paid
ACTIVITIES:    
Issuance of common stock to Escrow Agent in connection with Settlement Agreement and Amended Settlement Agreement $ 534 $ 344,921
Series E Preferred Stock issued in exchange for common stock pursuant to Share Exchange Agreement dated May 21, 2018 120,000
Issuance of common stock in exchange for surrender of Series Cand Series D Preferred Stock $ 2,000
Issuance of common stock in exchange for Series E Preferred Stock 989
Issuance of common stock and note payable in connection with acquisition of 51% of Green Grow Farms, Inc. 1,450,000
Exchange of Series E Preferred Stock for Series F Preferred Stock 681,250
Issuance of common stock to placement agent 781
Issuance of common stock in exchange for Series F Preferred Stock $ 227

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