Iconic Labs

ICON · Main Market · Technology · mcap £0.2m · 1.3p 1 open situation →

EV: £3.8m
EV / EBIT: –
Net debt: £3.5m
FCF yield: -186.7%
Revenue: £0k
Share price 1y: −42%
Insiders 12m: no deals
Next report: around 30 Mar

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2026 Going concern and funding dependence

Open · 1

Cash shell / net cash above market value

Going concern and funding dependence

Cash shell seeking target; no deal progressed

Iconic is a cash shell with no revenue, funded only by promissory notes to Alpha Blue Ocean. Its full-year results to 30 June 2026, announced 22 Oct 2026, say no targets were progressed in the year. The Board flags that funding may stop if no target is found soon.

Funder: Alpha Blue Ocean, sole funder via an affiliated vehicle, through promissory notes 22 Oct 2026 ↗
Revenue: None; Gay Star News generates no revenue 22 Oct 2026 ↗
Target threshold: Minimum market capitalisation of £30m 22 Oct 2026 ↗
Past deal: In The Style deal announced as not proceeding on 13 February 2025 22 Oct 2026 ↗
Dilution cap: Loan note holders cannot hold more than 29.9% under the Financing Facility 22 Oct 2026 ↗

Next: find a reverse takeover target before ABO funding lapses

22 Oct 2026 Cash shell seeking target; no deal progressed

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Company filings. Not investment advice.