Income Statement
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| REVENUE | ||||
| Sales | $ 2,846,437 | $ 712,198 | $ 4,065,884 | $ 2,173,684 |
| Total revenue | 2,846,437 | 712,198 | 4,065,884 | 2,173,684 |
| Cost of goods sold | 2,151,088 | 269,763 | 2,794,927 | 850,249 |
| Gross Profit | 695,349 | 442,435 | 1,270,957 | 1,323,435 |
| OPERATING EXPENSES | ||||
| General and administrative expenses | 2,784,102 | 694,627 | 5,272,073 | 2,484,612 |
| Selling and marketing | 1,256,589 | 385,709 | 1,659,956 | 926,759 |
| Total operating expenses | 4,040,691 | 1,080,336 | 6,932,029 | 3,411,371 |
| Loss from operations | (3,345,342) | (637,901) | (5,661,072) | (2,087,936) |
| Other income (expense): | ||||
| Gain on forgiveness of PPP loan | 0 | 0 | 28,458 | 0 |
| Interest and amortization expense | (452,539) | 0 | (483,293) | 0 |
| Loss on investment in and receivable from Can B Corp | 0 | (557,307) | 0 | (483,472) |
| Other expense, net | (22,708) | 0 | (22,708) | 0 |
| Total other income (expense) | (475,247) | (557,307) | (477,543) | (483,472) |
| Net loss | (3,820,589) | (1,195,208) | (6,138,615) | (2,571,408) |
| Net (loss) income attributable to noncontrolling interests in subsidiaries | (163,024) | 23,893 | (138,078) | 37,321 |
| Net (loss) attributable to Iconic Brands, Inc. | $ (3,657,565) | $ (1,219,101) | $ (6,138,615) | $ (2,571,408) |
| Basic and diluted loss per share | $ (0.05) | $ (0.07) | $ (0.18) | $ (0.16) |
| Weighted average number of shares outstanding | 69,757,489 | 16,268,881 | 34,394,031 | 16,066,664 |
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. No definition available.
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings, excluding amortization of debt discount (premium) and financing costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Portion of net income (loss) attributable to nonredeemable noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of expense classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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