FORT LAUDERDALE, FL - July 16, 2025 (NEWMEDIAWIRE) - Splash Beverage Group, Inc. (NYSE American: SBEV) (“Splash” or the “Company”), a portfolio company of beverage brands, today announced financial results for the first quarter ended March 31, 2025, and provided an update on recent corporate developments.
First Quarter 2025 Financial Update
As disclosed in the Company’s Quarterly Report on Form 10-Q filed with the SEC on July 11, 2025, financial results for the first quarter reflected the Company’s transition period as it addressed prior liquidity constraints. These factors affected sales activity and financial performance during the quarter. However, subsequent balance sheet improvements and strategic initiatives have positioned the Company to pursue opportunities with an improved financial foundation.
Balance Sheet Strengthening and Strategic Developments
Following March 31, 2025, the Company executed several transactions aimed at enhancing its financial position:
- Debt Reduction: Splash exchanged approximately $12.7 million of outstanding convertible notes and accrued interest for newly designated preferred equity, significantly reducing debt obligations and improving shareholder equity.
- Strategic Asset Acquisition: The Company issued $20 million of preferred shares to acquire contractual and governmental water rights associated with a volcanic aquifer located in Garabito, Puntarenas, Costa Rica. Testing of the spring water from the aquifer indicates exceptional purity, naturally occurring electrolytes, and a stable, alkaline pH of 7.8. These rights represent a strategic asset supporting potential future initiatives and further strengthens the Company’s balance.
Leadership Updates
During the quarter, Splash appointed William Devereux as Chief Financial Officer. Mr. Devereux brings extensive capital markets and corporate finance experience, supporting the Company’s efforts to strengthen its financial structure and pursue growth opportunities. Additionally, Tom Fore joined the Company’s Board of Directors as Chair of the Audit Committee, further enhancing governance and oversight.
Operational Continuity
Despite recent challenges, Splash has maintained its core team and operational infrastructure. Management believes the Company is positioned to resume broader commercial activities as liquidity improves.
Management Commentary
“We recognize the challenges our shareholders have experienced as we worked through limited liquidity,” said Bill Meissner, President and Chief Marketing Officer. “The transactions we’ve completed in recent months represent important steps to improve our balance sheet, reduce debt, and position Splash for future opportunities.”
“I’m pleased to join Splash at this pivotal stage,” added William Devereux, Chief Financial Officer. “With an improved capital structure and enhanced governance, we are focused on executing strategies that support long-term shareholder value.”
About Splash Beverage Group, Inc.
Splash Beverage Group, Inc. owns and operates a portfolio of alcoholic and non-alcoholic beverage brands, including Copa di Vino wine by the glass, Chispo tequilas, and Pulpoloco sangria. The Company’s strategy includes developing early-stage brands, as well as acquiring and accelerating brands with established market presence or category innovation. Led by an experienced management team, Splash is focused on expanding its portfolio and global distribution network.
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Forward-Looking Statements
This press release includes forward-looking statements within the meaning of U.S. federal securities laws. Forward-looking statements reflect management’s current expectations and assumptions regarding future events and performance, and they involve risks and uncertainties. Actual results may differ materially from those expressed or implied in these statements due to various factors, including but not limited to risks disclosed in the Company’s filings with the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. The Company undertakes no obligation to update any forward-looking statements, except as required by applicable law.
SBEV has 1,552,693 shares issued and outstanding with a float of 1,381,427 shares.
Contact Information:
Splash Beverage Group / 954-745-5815
Info@SplashBeverageGroup.com
Dennis Burns / 567-237-4132
dburns@SplashBeverageGroup.com
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