Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUE        
Sales $ 6,654,221 $ 584,914 $ 10,701,018 $ 1,219,447
Cost of goods sold 4,920,674 325,206 7,125,713 643,839
Gross Profit 1,733,547 259,708 3,575,305 575,608
OPERATING EXPENSES        
General and administrative expenses 5,252,741 1,804,781 9,711,628 2,678,751
Selling and marketing 336,485 91,419 688,462 212,587
Total operating expenses 5,589,226 1,896,200 10,399,590 2,891,338
Loss from operations (3,855,679) (1,636,492) (6,824,285) (2,315,730)
Other income (expense):        
Gain on forgiveness of PPP loan 0 0 0 28,458
Interest expense (244,152) (30,754) (427,286) (30,754)
Other income, net 7,848   7,848  
Total other income (expense) (236,304) (30,754) (419,438) (2,296)
Net loss (4,091,983) (1,667,246) (7,243,723) (2,318,026)
Net (loss) income attributable to noncontrolling interests in subsidiaries (12,004) 8,772 (105,823) 24,946
Net loss attributable to Iconic Brands, Inc. $ (4,079,979) $ (1,676,018) $ (7,137,900) $ (2,342,972)
Basic and diluted loss per share $ (0.04) $ (0.10) $ (0.07) $ (0.14)
Weighted average number of shares outstanding 97,086,968 17,447,474 96,009,340 16,878,261