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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
REVENUE    
Sales $ 14,745,261 $ 4,960,016
Cost of sales 11,213,269 4,628,734
Gross Profit 3,531,992 331,282
OPERATING EXPENSES    
General and administrative expenses 19,412,328 10,453,730
Selling and marketing 1,036,620 716,727
Gain from the cancellation of accrued royalties 0 (577,590)
Total operating expenses 20,448,948 10,592,867
Loss from operations (16,916,956) (10,261,585)
Other income (expense):    
Change in fair value of contingent consideration 20,204,505 0
Loss on impairment of goodwill (15,976,877) 0
Loss on impairment of intangible assets 17,337,933 0
Gain on forgiveness of PPP loan 0 28,458
Interest expense (792,833) (271,749)
Other income, net 13,647 0
Total other expense (13,889,491) (243,291)
Net loss (30,806,447) (10,504,876)
Net loss income attributable to noncontrolling interests in subsidiaries (35,385) (40,882)
Net loss attributable to Iconic Brands, Inc. (30,771,062) (10,463,994)
Dividend of common stock to preferred shareholders (3,260,006) 0
Net loss attributable to common and preferred shareholders $ (34,031,068) $ (10,463,994)
Basic and diluted loss per share $ (0.34) $ (0.22)
Weighted average number of shares outstanding - basic and diluted 101,060,758 48,378,549

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