InvestorNewsBreaks – Iconic Brands Inc. (ICNB) Releases Q3 2022 Financial Report
Dec 6, 2022
Iconic Brands (OTCQB: ICNB), a leader in the development, design and delivery of alcohol and nonalcohol beverages, is reporting its financial and corporate results for the third quarter ended Sept. 30, 2022. Highlights of the report include total revenue for the quarter totaling $3,162,422, which is up $315,985 from the same quarter in 2021, and cash on hand at the end of the quarter reaching $2,798,401, an increase from numbers reported Dec. 31, 2021. Corporate highlights include the launch of Pop Top Naturals Juice Pouches, a healthy, portion-controlled box designed to be a solution for the kid’s juice box space, and the premiere of Bellissima Zero Still Wines on QVC. In addition, the company has doubled its production capacity; Iconic now has the capacity to produce 80 million product units, with those products including frozen ice pops, various stand-up flexible pouches, single-serve shots, organic juice pops and dog treats in 2022. “Historically, TopPop’s second half of the year has represented our ‘softest’ from a revenue perspective, since the traditional frozen cocktail market is highly seasonal,” said Iconic Brands interim CEO Tom Martin in the press release. “It is also the part of the year that we typically book new business and prepare to manufacture for deliveries in the first quarter. Because we are a fast-growing business, this has an effect on our operations as we develop new product categories and broaden our customer base to even out this inconsistency in our quarterly results. . . . However, our bookings are strong, and our business is expanding into new areas while we continue to demonstrate our growth trajectory and commitment to building a platform of solutions within the industry. We believe that during this quarter, the fruits of our labor and investments began to pay off, as our production facilities made great progress with the ready to freeze, ready to drink ice pops and pouches.”
To view the full press release, visit https://ibn.fm/QcOcN
About Iconic Brands Inc.
Iconic Brands, together with its wholly owned subsidiary, TopPop, develops brands, innovates products and creates sustainable packaging solutions for the alcohol and nonalcohol beverage market. Iconic offers a collection of brands in the wine & spirits, ready-to-drink cocktail, ready-to-freeze ice pop, and premixed ready-to-go categories. In addition, TopPop offers turnkey solutions, from design to delivery, in sustainable packaging for major alcohol and nonalcohol beverage and frozen food brands. Iconic prides itself on its commitment to brand expansion and to delivering purpose-driven brands that strive to lead the change in the “Better-for-You” and “Better-for-the-Planet” categories. In July, Iconic announced its intention to change its name to TopPop Innovative Brands to better reflect the focus and fundamental drivers of the business. Iconic operates in multiple states, with worldwide distribution and a number of Fortune 500 customers, including some of the world’s largest alcohol beverage companies and brands. For more information about the company, please visit www.IconicBrandsUSA.com and www.TopPopPkg.com.
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