Iconic Brands (Iconic Brands) Long-Term Capital Lease Obligation : $4.59 Mil (As of Mar. 2023)

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What is Iconic Brands Long-Term Capital Lease Obligation?

Iconic Brands's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2023 was $4.59 Mil.

Iconic Brands's quarterly Long-Term Capital Lease Obligation declined from Sep. 2022 ($4.92 Mil) to Dec. 2022 ($4.76 Mil) and declined from Dec. 2022 ($4.76 Mil) to Mar. 2023 ($4.59 Mil).

Iconic Brands's annual Long-Term Capital Lease Obligation increased from Dec. 2020 ($0.00 Mil) to Dec. 2021 ($2.84 Mil) and increased from Dec. 2021 ($2.84 Mil) to Dec. 2022 ($4.76 Mil).

Iconic Brands Long-Term Capital Lease Obligation Historical Data

The historical data trend for Iconic Brands's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Iconic Brands Long-Term Capital Lease Obligation Chart

Iconic Brands Annual Data

Trend

Dec12

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Long-Term Capital Lease Obligation

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0.05

2.84

4.76

Iconic Brands Quarterly Data
	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															5.23	5.07	4.92	4.76	4.59

Iconic Brands (OTCPK:ICNB) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

Iconic Brands Long-Term Capital Lease Obligation Related Terms

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Iconic Brands (Iconic Brands) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Beverages - Alcoholic » Iconic Brands Inc (OTCPK:ICNB) » Definitions » Long-Term Capital Lease Obligation

Traded in Other Exchanges

N/A

Address

44 Seabro Avenue, Amityville, NY, USA, 11701

Website

https://www.iconicbrandsusa.com

Iconic Brands Inc is engaged in the development and sale of alcohol and non-alcohol brands that are Better-for-You (BFY) and Better-for-the-Planet. The company's brands include Bellissima by Christie Brinkley, a premium BFY collection of Prosecco, Sparkling Wines, and Still Wines, all certified vegan and made with organic grapes. The Company has two reportable segments: the sale of branded alcoholic beverages segment includes the development and sale of alcohol and non-alcohol brands that are BFY and better-for-the-planet and the specialty packaging segment includes the packaging of low-calorie, ready-to-go products, RTF products, and RTD products in sustainable, flexible and stand-up pouch packaging.

Executives

David R Allen	officer: Chief Financial Officer	C/O CONVERTED ORGANICS INC., 7A COMMERCIAL WHARF WEST, BOSTON MA 02110
Larry Romer	officer: Chief Executive Officer	44 SEABRO AVENUE, AMITYVILLE NY 11701
Roseann Faltings	director, officer: Vice President and Director	44 SEABRO AVENUE, AMITYVILLE NY 11701
Innoaccel Investments Llc	10 percent owner	247 E. DARK HOLLOW RD., PIPERSVILLE PA 18947
John Cosenza	officer: Chief Operating Officer	44 SEABRO AVENUE, AMITYVILLE NY 11701
Thomas A. Belton	10 percent owner	247 E. DARK HOLLOW RD., PIPERSVILLE PA 18947
Richard J Decicco	director, 10 percent owner, officer: CEO, Director	44 SEABRO AVENUE, AMITYVILLE NY 11701
William S. Blacker	officer: Chief Financial Officer, other: V.P of Finance & Adminstration	C/O HARBREW IMPORTS LTD. CORP., 102 BUFFALO AVENUE, FREEPORT NY 11520
Edd Cockerill	director, officer: President, CEO & CFO	1921 DENVER WEST COURT, #2022, GOLDEN CO 80401