Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities:    
Net loss attributable to Iconic Brands, Inc. $ (837,920) $ (672,667)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Net loss attributable to noncontrolling interests in subsidiaries and variable interest entity (74,178) (309,697)
Issuance of note payable to consultant 50,000
Stock-based compensation 243,081 290,700
Depreciation and amortization 4,615
Changes in operating assets and liabilities:    
Accounts receivable 325,782 9,566
Inventories (64,344) 41,768
Prepaid expenses (66,318)
Accounts payable and accrued expenses (153,575) 220,754
Net cash used in operating activities (622,857) (369,576)
Investing Activities:    
Leasehold improvements
Furniture and equipment (8,708)
Net cash used in investing activities (8,708)
Financing Activities:    
Proceeds from sale of Series G Preferred Stock and warrants (net of placement agent fees of $150,000) 1,325,000
Proceeds from sale of Series E Preferred Stock and warrants 340,630
Repayment of note payable (25,000)
Loans payable to officer and affiliated entity (15,387)
Net cash provided by financing activities 1,284,613 340,630
Increase (decrease) in cash and cash equivalents 653,048 (28,946)
Cash and cash equivalents, beginning of period 263,638 191,463
Cash and cash equivalents, end of period 916,686 162,517
Income taxes paid
Interest paid
Issuance of common stock in exchange for the surrender of Series C Preferred Stock and Series D Preferred Stock 2,000
Issuance of common stock in exchange for Series E Preferred Stock 270
Issuance of common stock in exchange for Series F Preferred Stock 304
Issuance of common stock to Escrow Agent in connection with Settlement Agreement and Amended Settlement Agreement $ 534