INVESTMENT IN BIVI LLC

12 Months Ended

Dec. 31, 2020

INVESTMENT IN BIVI LLC

4. INVESTMENT IN BIVI LLC

On May15, 2015, Iconic entered into a Securities Exchange Agreement by and among the members of BiVi LLC, a Nevada limited liability company (“BiVi”), under which Iconic acquired a 51 % majority interest in BiVi in exchange for the issuance of (a) 1,000,000 shares of restricted common stock and (b) 1,000 shares of newly created Series C Convertible Preferred Stock.

Prior to May 15, 2015, BiVi was beneficially owned and controlled by Richard De Cicco, the controlling shareholder, President, CEO and Director of Iconic Brands, Inc.