[Image] Splash Beverage Group Reports Third Quarter 2022 Financial Results Revenues Increase 73% with $5.1 Million in Gross Sales Fort Lauderdale, Florida, Nov. 15, 2022 (GLOBE NEWSWIRE) -- [Splash Beverage Group, Inc.]( (NYSE American: SBEV) ("Splash" or the "Company"), a portfolio company of leading beverage brands, today reported financial results for the third quarter period ended June 30, 2022. Investors are encouraged to read the Companyâs quarterly report on Form 10-Q which was filed with the Securities and Exchange Commissions (the âSECâ), contains additional information, and is posted at [(. Third Quarter Financial Performance - Gross sales for the second quarter were $5.1 million compared to $2.9 million in the prior year period, an increase of 73% over the prior year period. The increase in revenue were primarily due to increased sales from e-commerce as well as increased sales through a number of retail authorizations. On a nine-month basis, revenues increased to $14.0 million from $8.6 million in the prior year period, a 64% increase.
- Company reported nine new or expanded distribution/sales agreements with distributors or retailers.
- Gross profit in the second quarter increased 40% to $1.1 million vs. $0.8 million in the prior year period, and in the nine-month period to $2.6 million from $2.2 million in the prior year, an 18% increase.
- Third quarter net loss from continued operation narrowed to $5.1 million compared to a loss of $12.1 million in the prior year period. For the nine-month period, the net loss narrowed to $16.6 million from $22.9 million in the prior year period. The decrease in net loss is due primarily to an increase in revenues as well as lower operating expenses and non-cash items.
- As of June 30, 2022, the company had total cash and cash equivalents of $2.6 million, compared with $4.1 million at December 31, 2021.
- The company is currently evaluating various credit facility offers in hand to augment inventory needs as the company grows and has more traditional lending opportunities. Robert Nistico, Splash Beverage Groupâs Chairman and CEO, commented, âWe continue to execute our business strategy, and our third quarter results reflect those efforts. Distribution is key to the beverage industry for success. We continue to focus expanding our distribution network with (9) nine new distribution/sales agreements with distributors and retailers this quarter alone. Inventory build is a vital component of growth as we add more retail and distribution partners. Weâve accessed the capital markets to help fund this growth, and as mentioned above, we intend to activate various traditional credit facilities that are on the table as we speak. We will keep a close eye on expenses, evidenced by our reduced operating expenses this quarter as we work towards a revenue neutral/positive position. We are opportunistic, with good reason regarding our ability to further our expansion of distribution and retail support, which ultimately builds revenue and profitability.â About Splash Beverage Group, Inc.
Splash Beverage Group, an innovator in the beverage industry, owns a growing portfolio of alcoholic and non-alcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, Pulpoloco sangria, and TapouT performance hydration and recovery drink. Splashâs strategy is to rapidly develop early-stage brands already in its portfolio as well as acquire and then accelerate brands that have high visibility or are innovators in their categories. Led by a management team that has built and managed some of the top brands in the beverage industry and led sales from product launch into the billions, Splash is rapidly expanding its brand portfolio and global distribution. For more information visit:
[www.SplashBeverageGroup.com](
[www.copadivino.com](
[www.drinksalttequila.com](
[www.pulpo-loco.com](
[www.tapoutdrinks.com]( Forward-Looking Statement
This press release includes âforward-looking statementsâ within the meaning of U.S. federal securities laws. Words such as âexpect,â âestimate,â âproject,â âbudget,â âforecast,â âanticipate,â âintend,â âplan,â âmay,â âwill,â âcould,â âshould,â âbelieves,â âpredicts,â âpotential,â âcontinueâ and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, the risks disclosed in the Companyâs Annual Report on Form 10-K filed with the SEC on March 31, 2022, and in the Companyâs other filings with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release. Contact Information:
Splash Beverage Group
[Info@SplashBeverageGroup.com](
954-745-5815 Learn More about Splash Beverage Group by gaining access to the latest research report [DOWNLOAD REPORT]( This Website Is Wholly Owned By Tradigital Marketing Group, Inc. (D/B/A âTradigital Irâ). Our Reports Are Advertorials And Are For General Information Purposes Only. Never Invest In Any Stock Featured On Our Site Or Emails Unless You Can Afford To Lose Your Entire Investment. The Disclaimer Is To Be Read And Fully Understood Before Using Our Services, Joining Our Email List, As Well As Any Social Networking Platforms We May Use. Please Note Well: Tradigital Ir And Its Employees Are Not Registered Investment Advisors, Broker-Dealers, Or Member(S) Of Any Association For Other Research Providers In Any Jurisdiction Whatsoever. Release Of Liability: Through Use Of This Website, Viewing Or Using You Agree To Hold Tradigital Ir, Its Operators, Owners, And Employees Harmless And To Completely Release Them From Any And All Liability Due To Any And All Loss (Monetary Or Otherwise), Damage (Monetary Or Otherwise), Or Injury (Monetary Or Otherwise) That You May Incur. The Information Contained Herein Is Based On Sources That We Believe To Be Reliable But Is Not Guaranteed By Us As Being Accurate And Does Not Purport To Be A Complete Statement Or Summary Of The Available Data. Tradigital Ir Encourages Readers And Investors To Supplement The Information In These Reports With Independent Research And Other Professional Advice. All Information On Featured Companies Is Provided By The Companies Profiled Or Is Available From Public Sources And Tradigital Ir Makes No Representations, Warranties, Or Guarantees As To The Accuracy Or Completeness Of The Disclosure By The Profiled Companies. None Of The Materials Or Advertisements Herein Constitute Offers Or Solicitations To Purchase Or Sell Securities Of The Companies Profiled Herein And Any Decision To Invest In Any Such Company Or Other Financial Decisions Should Not Be Made Based Upon The Information Provided Herein. Instead, Tradigital Ir Strongly Urges You To Conduct A Complete And Independent Investigation Of The Respective Companies And Consideration Of All Pertinent Risks. Tradigital Irâs Full Disclosure Is To Be Read And Fully Understood Before Using Tradigital Ir's Website, Or Joining Tradigital Ir's Email Or Text List. From Time To Time, Tradigital Ir Will Disseminate Information About A Company Via Website, Email, Sms, And Other Points Of Media. By Viewing Tradigital Ir's Website And/Or Reading Tradigital Ir's Email Or Text Newsletter You Are Agreeing ----> [(. All Potential Percentage Gains Discussed In Any Communications Are Based On Calculations From The Low To The High Of The Day. We Are Engaged In The Business Of Marketing And Advertising Companies For Monetary Compensation. in Compliance With Section 17(B) Of The Securities Act We Are Disclosing That We have Been compensated A Fee Pursuant To An Agreement Between Tradigital And Splash Beverage Group, Inc. Tradigital Was Hired For A Period Beginning December 2021 And Ending June 2022 To Publicly Disseminate Information About Splash Beverage Group, Inc. Via Website, Email, And Sms. We Were Paid Four Hundred And Fifty-Five Thousand Usd Via Ach. We Own Five Hundred Thousand Restricted Common Shares Of Splash Beverage Group, Inc., Which Are Eligible For Sale On 06/02/2022. For The Purpose Of This Disclaimer, We Suggest That You Assume We Will Sell All Of Our Shares Once The Restriction Is Lifted On 06/02/2022. Tradigital Was Also Hired For A Period Beginning March 2022 And Ending June 2022 To Publicly Disseminate Information About Splash Beverage Group, Inc. Via Website, Email, And Sms. We Were Paid Six Hundred Thousand Usd Via Ach. We Own Four Hundred Thousand Restricted Common Shares Of Splash Beverage Group, Inc., Which Are Eligible For Sale On 09/05/2022. For The Purpose Of This Disclaimer, We Suggest That You Assume We Will Sell All Of Our Shares Once The Restriction Is Lifted On 09/05/2022. Tradigital Was Subsequently Hired For A Period In June 2022 To Publicly Disseminate Information About Splash Beverage Group, Inc. Via Website, Email, And Sms. We Were Paid Seventy-Five Thousand Usd Via Ach. Readers Are Advised To Review Sec Periodic Reports: Forms 10-Q, 10k, Form 8-K, Insider Reports, Forms 3, 4, 5 Schedule 13d. Tradigital Ir Is Compliant With The Can-Spam Act Of 2003. tradigital Ir Does Not Offer Investment Advice Or Analysis, And Tradigital Ir Further Urges You To Consult Your Own Independent Tax, Business, Financial, And Investment Advisors. Investing In Micro-Cap, Small-Cap, And Growth Securities Is Highly Speculative And Carries An Extremely High Degree Of Risk. It Is Possible That An Investor's Investment May Be Lost Or Impaired Due To The Speculative Nature Of The Companies Profiled.The Private Securities Litigation Reform Act Of 1995 Provides Investors A Safe Harbor In Regard To Forward-Looking Statements. Any Statements That Express Or Involve Discussions With Respect To Predictions, Expectations, Beliefs, Plans, Projections, Objectives, Goals, Assumptions Or Future Events, Or Performance Are Not Statements Of Historical Fact May Be Forward-Looking Statements. Forward-Looking Statements Are Based On Expectations, Estimates, And Projections At The Time The Statements Are Made That Involve A Number Of Risks And Uncertainties Which Could Cause Actual Results Or Events To Differ Materially From Those Presently Anticipated. Forward-Looking Statements In This Action May Be Identified Through The Use Of Words Such As Projects, Foresee, Expects, Will, Anticipates, Estimates, Believes, Understands, Or That By Statements Indicating Certain Actions & Quotes; May, Could, Or Might Occur. Understand There Is No Guarantee Past Performance Will Be Indicative Of Future results In Preparing This Publication, Tradigital Ir Has Relied Upon Information Supplied By Its Clients, As Well As Its Clientsâ Publicly Available Information And Press Releases Which It Believes To Be Reliable; However, Such Reliability Can Not Be Guaranteed. Investors Should Not Rely On The Information Contained On This Website. Rather, Investors Should Use The Information Contained In This Website As A Starting Point For Doing Additional Independent Research On The Featured Companies. The Advertisements In This Website Are Believed To Be Reliable, However, Tradigital Ir And Its Owners, Affiliates, Subsidiaries, Officers, Directors, Representatives, And Agents Disclaim Any Liability As To The Completeness Or Accuracy Of The Information Contained In Any Advertisement And For Any Omissions Of Materials Facts From Such Advertisement. tradigital Ir Is Not Responsible For Any Claims Made By The Companies Advertised Herein, Nor Is Tradigital Ir Responsible For Any Other Promotional Firm, Its Program, Or Its Structure. tradigital Ir Is Not Affiliated With Any Exchange, Electronic Quotation System, The Securities Exchange Commission, Or Finra. Rua Frei Tome de Jesus N18 1Dto
Lisboa Lisboa 1700-215
PORTUGAL [Unsubscribe]( | [Change Subscriber Options](