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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUE        
Sales $ 3,162,422 $ 2,846,437 $ 13,863,440 $ 4,065,884
Cost of goods sold 2,546,965 2,151,088 9,672,678 2,794,927
Gross Profit 615,457 695,349 4,190,762 1,270,957
OPERATING EXPENSES        
General and administrative expenses 4,493,080 1,355,637 14,204,208 3,843,608
Selling and marketing 148,377 1,256,589 836,839 1,659,956
Total operating expenses 4,641,457 2,612,226 15,041,047 5,503,564
Loss from operations (4,026,000) (1,916,877) (10,850,285) (4,232,607)
Other income (expense):        
Change in fair value of contingent consideration 12,984,661 0 12,984,661 0
Loss on impairment of Goodwill (10,694,448) 0 (10,694,448) 0
Gain on forgiveness of PPP loan 0 0 0 28,458
Interest expense (191,764) (452,539) (619,050) (483,293)
Other income (expense), net 8,935 (22,708) 16,783 (22,708)
Total other income (expense) 2,107,384 (475,247) 1,687,946 (477,543)
Net loss (1,918,616) (2,392,124) (9,162,339) (4,710,150)
Net loss attributable to noncontrolling interests in subsidiaries (1,000) (163,024) (106,823) (138,078)
Net loss attributable to Iconic Brands, Inc. (1,917,616) (2,229,100) (9,055,516) (4,572,072)
Dividend to preferred shareholders (3,260,006) 0 (3,260,006) 0
Net loss attributable to common stockholders $ (5,177,622) $ (2,229,100) $ (12,315,522) $ (4,572,072)
Basic and diluted loss per common share $ (0.05) $ (0.03) $ (0.12) $ (0.14)
Weighted average number of shares outstanding, basic and diluted 104,959,149 69,757,489 98,967,135 34,394,031

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