Iconic Brands Update on Audits

AMITYVILLE, N.Y.--(BUSINESS WIRE)--Iconic Brands, Inc. (Iconic) (Pinks: ICNB)
As previously stated the company hoped to have the updated audits completed by the end of September, first we are disappointed that this process has not been completed yet, but would like to assure the shareholders that were in the processes of finalizing the report for the amended 2010 audit, additionally during this process a lot of the work for the 2011 audit and first half 2012 audit has been completed as required for “subsequent events” for the 2010 foot notes, accordingly we expect the 2011 and 2012 audits to move much more expeditiously. We apologize for the delay but again assure you we are working on this daily and it’s an immediate priority for Iconic to regain fully reporting status.

About Iconic Brands Inc.

Headquartered in Amityville, NY Iconic Brands Inc. develops markets and distributes high-quality branded alcoholic beverages.

Forward-Looking Statements Disclosure

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimated" and "intend," among others. These forward-looking statements are based on the Company's current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, history of losses; speculative nature of Celebrity Branded products; the highly competitive Spirits Industry; substantial capital requirements: lack of diversification; competition; global financial conditions; ability to market and distribute products produced; and ability to acquire new license agreements. The Company does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in historic and future periodic reports filed with the Securities and Exchange Commission. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date hereof.