Corporate Update from Robert Nistico of Splash Beverage Group
MCAP Media Wire – A letter from Robert Nistico, chairman and CEO of Splash Beverage Group, Inc. (NYSE American: SBEV), a portfolio firm of well-known beverage brands, was published today.
“Dear Fellow Shareholders of the Splash Beverage Group,
I wanted to use this opportunity as we enter 2023 to provide our shareholders a brief update on some significant changes that have occurred at Splash Beverage Group since our previous corporate report.
We have continued to add distribution agreements and retail authorisations since our August update. This is due to our expanding industry reputation and our brand’s successful performance in current accounts. Remember that Splash receives additional revenue with each new distributor and/or retail chain.
These are some instances of authorisations from national and local retailers across the nation:
- Circle K, where all 7 Copa di Vino varietals are now available in West Coast stores.
- One of the top supermarkets in the United States, Publix, has approved TapouT Performance Drink.
- Target, where TapouT is currently approved, as well as our wholesalers are currently stocking shelves with our products.
- 7-Eleven, promoting Pulpoloco’s totally sustainable paper can as one of their Brands with Heart.
- TapouT is being distributed by one of our broadline distributors with approval from Winn Dixie Supermarkets.
Additionally, SALT Tequila has agreements for distribution in Maryland and Nevada as it continues to grow. The University of Alabama’s athletic department, which is home to the Crimson Tide football team and has one of the biggest fan bases in the SEC, announced that Copa di Vino will be the only wine offered at UA sporting events, furthering our goal of wide venue distribution.
To fill thousands of new shelves as we get ready for 2023, we added more than a dozen and a half new distributors and a half-dozen national and local retail chain authorisations. It takes time and effort to set up this many distributors and chains. However, as we continue to expand distribution across the United States, we believe we will be in a good position to experience the impact of these additional accounts beginning in early 2023.
Of course, in order to support the increased activity and guarantee we have enough inventory to fulfil requests, this growth demands money. Just that was accomplished during our most recent holiday raise, which came via the selling of long-term convertible promissory notes and the granting of warrants to buy common shares. These money originated from previous legacy investors and former board members who have invested in Splash in a long-term manner. We think that their investment shows how confident they continue to be in Splash Beverage Group because it improves our balance sheet as we start the new year.
Splash Beverage Group will shortly publish our 2022 full year financial results, but our third quarter results from November showed a 73% increase in gross sales from quarter to quarter and a 64% increase from nine months to nine months. We are convinced that eventually internal performance will surpass external market forces.
With so much extra business, we needed more staff to manage the growth, so we hired James Allred, a seasoned professional who was most recently with Anheuser-Busch InBev, to lead the sales team and spearhead new growth initiatives. Our success has garnered some celebrity endorsement in addition to new partnerships. With his large online following and fan base in the NFL, Drew Brees is now a spokesperson for TapouT.
We think we are in the right categories at the right moment since each of our brands capitalises on distinct trends in customer preferences. We are incredibly appreciative to having you as stockholders, and we look forward to maintaining your trust.”
Twitter users can follow Splash Beverage Group at @SplashBev.
With regards to Splash Beverage Group, Inc.
SALT-flavored tequilas, Pulpoloco sangria, TapouT performance hydration and recovery drink, among others, are among the alcoholic and non-alcoholic beverage brands owned by Splash Beverage Group, a pioneer in the beverage sector. Splash’s business strategy is to quickly advance the development of its portfolio’s early-stage businesses while also acquiring and accelerating highly visible or innovative brands. Splash is quickly growing its brand portfolio and international distribution under the direction of a management team that has created and managed some of the top brands in the beverage industry and driven sales from product launch into the billions.
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Splash Beverage Group
Copa di Vino – Do Anything Go Anywhere Premium Wine
PULPOLOCO SANGRÍA – Pulpoloco Sangría a refreshing wine cocktail in a cartocan
TAPOUT Performance Drink
The term “forward-looking statements” as used in the federal securities laws of the United States applies to this update. These forward-looking statements are indicated by words like “expect,” “estimate,” “project,” “budget,” forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” and similar phrases. You shouldn’t rely on any forward-looking statements as predictions of future events since they contain substantial risks and uncertainties that might cause the results to materially differ from what was anticipated. The risks detailed in the company’s Annual Report on Form 10-K filed with the SEC on March 31, 2022, as well as in the company’s other filings with the SEC, are only a few of the variables that may affect these forward-looking statements and result in such variations.
Readers are advised not to put undue faith in any forward-looking statements because they only reflect the situation at the time they were made. The Company disclaims any duty to revise or publicly publicise any changes to any forward-looking statements contained in this press release, unless otherwise required by law.
Splash Beverage Group
Phone: (917) 658-2602