Iconix Brand Group Inc (ICON) Quote

another page turned, another chapter finished.

so long ICON -it's been fun.

$ICON on the move.....

I like this 10Q. Expenses continue to be managed well and reduced. Interest expense lower due to continued debt reduction.

"...we have had a very strong start to the year. Year to date, we have signed 93 license agreements representing $47 million of aggregate minimum royalties over the life of these contracts. This represents a 127% increase in the numbers of deals signed versus last year to date and a 98% increase in the amount of minimum royalties. This performance is due to the continued dedication and hard work of our team.”


remember, they continue to explore "strategic options' including asset sales, brand sales, debt restructuring, etc. The next PR on this front will really pop this low float stock. only $25 Million market cap guys. that's less than 1/4 sales!!!

$ICON

this may get interesting tomorrow....

$ICON

* * $ICON Video Chart 12-04-2020 * *

Link to Video - click here to watch the technical chart video

Big news...$ICON

On December 2, 2020, Red Diamond Holdings S.à r.l. (“Red Diamond”), an indirect wholly-owned subsidiary of Iconix Brand Group, Inc. (the “Company”), entered into a share purchase agreement (the “SPA”) to sell all of the equity interests of Lee Cooper China Limited, a wholly-owned subsidiary of Red Diamond (the “Lee Cooper China Sale”), for consideration of $16.0 million.

He we go, big buyers coming in.

$ICON

Headed for a $1 handle.

$ICON

Added here


$ICON

This is primed for a buyout, this market cap is ridiculous.

Buy the dips and sell the rips. This is primed to get back over a dollar.

$ICON

Ya just gotta love these low float penny plays :0)

I exited my position around lunch today at .88 and my account is once again at a new high!

SHO ME DA LOOT! :0)

NEWS: $ICON Penny Stocks on Robinhood To Buy Under $1 Right Now

Are These Robinhood Penny Stocks on Your List Right Now? Whether you’re trading penny stocks on Robinhood , TD Ameritrade, Etrade, etc. the goal is the same: make money, repeat. This might be easier said than done but the fact that there are now millions of new retail traders...

Got this from ICON - Penny Stocks on Robinhood To Buy Under $1 Right Now

Nice move, looking to break out above a dollar.

$ICON

Should break over a dollar today,only 11m float.

$ICON

Buying coming in already,buyout rumors.

$ICON

Volume is pouring in,news must be leaking.

$ICON

* * $ICON Video Chart 10-12-2020 * *

Link to Video - click here to watch the technical chart video

News; $ICON Does Your List Of Penny Stocks To Buy Have These 5 On It In October?

Are These Penny Stocks To Buy Or Sell This Month? Whether you’re looking to put together a list of penny stocks to buy now or just a simple watch list, you’ve got to keep a few things in mind. First, are there certain sectors gaining interest, overall? An example o...

Got this from ICON - Does Your List Of Penny Stocks To Buy Have These 5 On It In October?

guys - this could be big news but totally under the radar:

Iconix is back in walmart:


https://www.walmart.com/browse/umbro/YnJhbmQ6VU1CUk8ie

https://www.walmart.com/browse/iconix/YnJhbmQ6SWNvbml4

$ICON

* * $ICON Video Chart 08-04-2020 * *

Link to Video - click here to watch the technical chart video

Nice news...62 million sale, market cap a fraction of that.

* * $ICON Video Chart 07-14-2020 * *

Link to Video - click here to watch the technical chart video

https://www.iconixbrand.com/brands/

conix Brand Group (NASDAQ:ICON) reported quarterly losses of $(1.860) per share. This is a 18500 percent decrease over losses of $(0.010) per share from the same period last year. The company reported $27.951 million in sales this quarter. This is a 22.23 percent decrease over sales of $35.942 million the same period last year.

creeping higher, even in a sloppy market.

tiny market cap and float, this will spike much higher sooner or later.

new mgmt is all business, no fluff, with huge incentives in their comp packages to maximize the stock price.

$ICON

Added $1.11 at the close. I'll keep my $1.05 bid open just for giggles. $ICON

Missed my $1.05 bid by...that much yesterday but yeah I'm in! $ICON

I hope you caught some near the lows.

looks like the rebound is beginning.

$ICON

.

#1295 back at ya.....

yes , it is. the investigation had been disclosed previously, and this is the final resolution.

so yes, whew - it's only a $5MM hit.

you are a talented muckraker with a large following, and due much respect.

but in this case, we have a molehill, not a mountain.

new mgmt is solid, no fluff, and all business.

Whew, that's a relief.

yep -deeds done 5 years ago by former mgmt, who all left 4 years ago.

https://www.businesswire.com/news/home/20191205005855/en/Iconix-Brand-Group-Resolves-Previously-Disclosed-Issues/

Iconix Brand Group Resolves Previously Disclosed Issues with Securities and Exchange Commission
December 05, 2019 03:31 PM Eastern Standard Time
NEW YORK--(BUSINESS WIRE)--Iconix Brand Group, Inc. (Nasdaq: ICON) (“Iconix” or the “Company”) announced today that it has reached an agreement with the U.S. Securities and Exchange Commission (the “SEC”) to resolve a previously disclosed investigation into certain accounting and reporting issues occurring during 2013 through the third quarter of 2015. Iconix and its Board of Directors have cooperated with the SEC throughout the duration of its investigation. During the four years since these issues came to light, Iconix and its Board of Directors have appointed new executive leadership and have taken significant steps to remediate and strengthen the Company’s compliance and reporting functions.

“I am pleased that we were able to resolve this legacy matter that arose under previous management over four years ago”

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As part of the settlement, which is subject to court approval and was previously disclosed in the Company’s most recent Form 10-Q filing, Iconix has agreed to pay a civil penalty of $5.5 million to fully resolve all outstanding SEC claims related to this matter. In agreeing to settle with the SEC, Iconix has neither admitted nor denied the SEC’s allegations.

“I am pleased that we were able to resolve this legacy matter that arose under previous management over four years ago,” said Bob Galvin, Chief Executive Officer and President. “Working alongside our Board of Directors over the past several years, Iconix has put in place significant, additional measures to ensure that the Company’s financial reporting, compliance, and governance practices fully meet legal and good governance standards. In putting this legacy legal matter behind us, the Iconix team members are excited to continue to be able to focus on what we do best – managing and growing iconic brands.”

In addition to today’s announcement with respect to the Company’s SEC matter, the United States Attorney’s Office for the Southern District of New York unsealed charges today against former individual officers of the Company who resigned from Iconix over four years ago.

The Company will continue to cooperate with the United States Attorney’s Office and the SEC with respect to these matters.

The SEC litigation release was dated today, Dec. 5,2019.

The 51 page SEC complaint was also dated today, Dec. 5,2019:

https://www.sec.gov/litigation/complaints/2019/comp-pr2019-251-iconix.pdf

this all happened 5 years ago. how about posting the rest of the ICON news for today, Renee?

don't worry - I'll do it.

SEC Charges Iconix Brand Group and Former Top Executives with Accounting Fraud

https://www.sec.gov/litigation/litreleases/2019/lr24682.htm

https://www.sec.gov/litigation/complaints/2019/comp-pr2019-251-iconix.pdf

Litigation Release No. 24682 / December 5, 2019

Securities and Exchange Commission v. Neil R. Cole and Seth Horowitz, No. 19-CV-11148 (S.D.N.Y., filed December 5, 2019)
The Securities and Exchange Commission today charged brand-management company Iconix Brand Group, Inc. and three of its former top executives with fraud. Iconix and two of its former executives have agreed to settle. The SEC's litigation is proceeding against Iconix's former CEO.

The SEC's complaint against former Iconix CEO Neil Cole and former Chief Operating Officer Seth Horowitz alleges that Cole and Horowitz devised a fraudulent scheme to create fictitious revenue, allowing Iconix to meet or beat Wall Street analysts' consensus estimates in the second and third quarters of 2014. According to the complaint, Cole and Horowitz realized substantial profits on Iconix stock sales as a result of the alleged fraud. In order to hide the fraud, as alleged, Cole and Horowitz also deleted emails and caused Iconix to make false and misleading statements in response to an SEC inquiry.

The SEC separately charged Iconix with fraud for recognizing false revenue and manipulating its reported earnings in 2014, entering into transactions to conceal distressed finances at two licensees who could not meet licensing royalty payments owed to Iconix, and failing to recognize over $239 million in impairment charges for three brands over a multi-year period. Additionally, Iconix and its former Chief Financial Officer Warren Clamen failed to recognize losses from Iconix's failing licensees, disclose that Iconix entered into transactions to secretly and temporarily bolster its licensees' finances, and properly test for impairment. As a result of these accounting improprieties, Iconix overstated net income by hundreds of millions of dollars between 2013 and the third quarter of 2015.

In parallel actions, the U.S. Attorney's Office for the Southern District of New York today announced criminal charges against Cole and Horowitz. Horowitz has pleaded guilty to those charges.

The two SEC complaints, filed in the U.S. District Court for the Southern District of New York, charge: (1) Iconix with violating Sections 10(b), 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Securities and Exchange Act of 1934 ("Exchange Act") and Rules 10b-5, 12b-20, 13a-1, 13a-11, 13a-13, and 13a-15(a) thereunder, as well as Section 17(a) of the Securities Act of 1933 ("Securities Act"); (2) Cole with violating Sections 10(b) and 13(b)(5) of the Exchange Act and Rules 10b-5, 13a-14(a), 13b2-1, and 13b2-2 thereunder, Section 17(a) of the Securities Act, and Section 304(a) of the Sarbanes-Oxley Act of 2002, and aiding and abetting Iconix's violations of Exchange Act Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) and Exchange Act Rules 12b-20, 13a-1, 13a-11, and 13a-13; and (3) Horowitz with violating Sections 10(b) and 13(b)(5) of the Exchange Act and Rules 10b-5(a) and (c), 13b2-1, and 13b2-2 thereunder, Section 17(a) of the Securities Act, and aiding and abetting Iconix's violations of Exchange Act Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) and Exchange Act Rules 12b-20, 13a-1, 13a-11, and 13a-13. The SEC's administrative order against Clamen finds that he willfully violated Securities Act Sections 17(a)(2) and (3) and Exchange Act Rules 13b2-1 and 13b2-2, and caused Iconix's violations of Exchange Act Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B), and Exchange Act Rules 12b-20, 13a-1, 13a-11, and 13a-13.

Without admitting or denying the allegations, Iconix agreed to injunctive relief and to pay a $5.5 million penalty, an amount that reflects the company's cooperation and remediation efforts. Horowitz, who is cooperating with the SEC, has consented to injunctive relief and a permanent officer and director bar and has agreed to disgorgement and prejudgment interest of over $147,000, and a penalty in an amount to be determined at a later date. The settlements are subject to court approval.

In its litigation against Cole, the SEC is seeking monetary and injunctive relief, including a permanent officer and director bar, and reimbursement to Iconix of certain incentive-based compensation pursuant to Section 304(a) of the Sarbanes-Oxley Act.

Clamen, without admitting or denying the SEC's findings, has agreed to cease and desist from future violations of the securities laws and pay disgorgement and prejudgment interest of nearly $50,000 and a $150,000 penalty. The order suspends Clamen from appearing and practicing before the Commission as an accountant and provides Clamen the right to apply for reinstatement after three years.

The SEC's investigation was conducted by Danette R. Edwards and Kristen Dieter, and was supervised by Gregory G. Faragasso and Ms. Bandy. The litigation against Cole will be led by Thomas A. Bednar, Sarah H. Concannon, and Fernando Campoamor Sanchez. The SEC appreciates the assistance of the U.S. Attorney's Office for the Southern District of New York, the Federal Bureau of Investigation, and the SEC's Office of the Inspector General.

Motivated seller. May freak some others out. Gonna stay on the sideline and see what happens tomorrow. $ICON

Edit: stop losses getting hammered!

just bought around $1.38.

$ICON lost the 200ma today. Where are you reloading? Support at $1.20? $1.15?

I'm in bigly...

Still nobody here on this one? I’m making a killing today.

https://www.iconixbrand.com/iconix-brand-group-inc-continues-to-grow-home-business-in-the-middle-east/

I got some of these cheapies.....looking back those who didn't load up will be regretting it! IMO GLTA

I'm counting on it.

Huge upside potential here.

$ICON

Now with the lawsuit settled and paid for by their insurance this thing should take off and get back to the $3-4 range soon. IMO GLTA

My HP knew what to do but I choked bigly! Had a bid at $1.40 just as it was rising. Stepped out for the day and it ran without me! There's always a next time for the really patient trader! $ICON

a higher power must be looking out for you.

I hope you got back in this morning.

Thanks. I’m doing ok on that oil stock you like too. It needed to cool down but I think it will fill the little gap at $1.70 by weeks end.

I'm glad you've done well on this one. I'm a big fan of the company's new mgmt.

I've been fooled before, but I expect the nice uptrend to resume tomorrow.

$ICON