Splash Beverage (OTCQB: SBEV), a holding company with a leading portfolio of beverage brands, announced that it has file its Q1 2021 Report for the period ending March 31, 2021. Highlights of the report include the company’s quarter-over-quarter sales growth and increase in cash equivalents. The company reported that it had cash and cash equivalents totaling $1,225,406, compared to $380,000 on Dec. 31, 2020. The report noted that the increase is primarily due to cash received from SBEV’s PPM, an offering comprised of 3,636,364 shares of common stock at a purchase price of $1.10 per share resulting in total gross proceeds of $4 million. In addition, the report showed year-over-year sales growth with revenue for Q1 reaching $2,417,701 compared to revenues of $112,003 for the same quarter in 2020. The report tied the increase to growth within Qplash, the company’s vertically integrated B2B and B2C e-commerce distribution platform, which sells goods on both Amazon and Shopify; the report also noted the company’s increased sales from its single-serve wine business. The company also announced that its successful capital raise, completed in February 2021 and totaling an estimated $9 million, opens the door for new opportunities and closes the door on the ability for to convert equity to debt.
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About Splash Beverage Group Inc.
Splash Beverage Groupspecializes in manufacturing, distribution, sales and marketing of various beverages across multiple channels. SBEV operates in both the nonalcoholic and alcoholic beverage segments, which the company believes leverages efficiencies and dilutes risk. SBEV believes its business model is unique because it only develops and accelerates brands it perceives to have highly visible pre-existing brand awareness or pure category innovation. For more information about the company, please visit www.SplashBeverageGroup.com.
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