Splash Beverage Group, Inc. is a U.S.-based company in the consumer beverage industry that manufactures, distributes, and markets various beverage brands, including flavored tequila, single-serve wine, and sangria, with an international presence and a focus on online sales.

# Company Summary: Splash Beverage Group, Inc.

## Overview
- **Industry:** Consumer beverage industry with both non-alcoholic and alcoholic segments.
- **Core Business:** Manufacturing, distribution, and marketing of various beverage brands across multiple channels.
- **Products & Brands:**
  - SALT Naturally Flavored Tequila (flavored tequila including citrus, berry, and chocolate flavors)
  - Copa DI Vino (single-serve wine by the glass, with nine varietals and large keg wine business)
  - Pulpoloco Sangria (encased in eco-friendly cans, available in three flavors)
  - License rights for TapouT sports beverages (terminated in Q1 2024)
- **Distribution:** Extensive network including third-party distributors, direct sales via NYSE American-listed securities, and e-commerce platform (Qplash).

## Operations & Capabilities
- Outsourced manufacturing to third-party co-packers and distillers; some production handled internally (e.g., Copa DI Vino in Oregon).
- Vertically integrated e-commerce division (Qplash) selling online through their website and third-party platforms like Amazon.
- Management team with significant beverage industry experience, including founders from Red Bull, Gallo Winery, and other major beverage companies.

## Market & Customer Base
- Distribution channels include national chains, independent local markets, regional chains, and specialty stores.
- International presence in Mexico, Guatemala, Japan, and ongoing growth efforts.
- No specific customer numbers are provided, but the company sells to retail stores, restaurants, and distributors globally.

## Employees & Revenue
- **Employees:** 21 full-time staff members.
- **Revenue:**
  - Fiscal year 2024: **$4.2 million**
  - Fiscal year 2023: **$18.9 million**
- **Net Loss:**
  - 2024: **$23.8 million**
  - 2023: **$21.0 million**
- The significant revenue decline in 2024 primarily due to lower sales, especially in the e-commerce segment, which decreased about 88.5% due to low inventory and liquidity issues.

## Financial & Business Status
- Going concern doubts due to recurring losses, negative cash flow, and limited liquidity.
- Total cash as of December 31, 2024: **$15,346** (vs. $379,978 in 2023).
- Significant debt and convertible notes leading to high interest expenses.
- Major recent transactions include issuance of preferred stock, debt exchanges (notably converting $12.7 million of debt into equity), and an acquisition of water rights in Costa Rica estimated at approximately $20 million in value.
- The company’s stock is listed on NYSE American under the symbols “SBEV” (common stock) and “SBEV-WT” (warrants).

## Key Assets & Operations
- Owns the Copa DI Vino production facility in Oregon.
- Owns trademarks related to Copa DI Vino.
- Owns a 22.5% interest in SALT Tequila USA, LLC (investment accounted at cost).
- Focused on expanding its beverage brands both domestically and internationally, leveraging partnerships, licensing, and acquisitions within its portfolio.

**Note:** The company emphasizes its strategic focus on acquiring and scaling brands with pre-existing awareness, leveraging its distribution expertise, and expanding through online channels.

Splash Beverage Group, Inc. is a portfolio company focused on acquiring and managing a variety of beverage brands, both alcoholic and non-alcoholic, to bolster sales and market presence.

# Company Overview: Splash Beverage Group, Inc.

## Business Model
Splash Beverage Group, Inc. (SBG) is a portfolio company focused on managing multiple beverage brands across both alcoholic and non-alcoholic segments. Splash is geared towards efficiently incubating and acquiring brands to accelerate sales revenue and volume. 

## Product Portfolio
The company's current offerings include:

1. **SALT Naturally Flavored Tequila**
   - 100% agave tequila with unique flavors: Citrus, Berry, Chocolate.
   - Distributed through Anheuser-Busch & Miller-Coors as well as in Mexico, Guatemala, and Japan.

2. **TapouT Performance Beverages**
   - A line of sports drinks, including TapouT Performance and TapouT Energy.
   - Unique, functional ingredient blends aimed at physical and mental performance.
   - Associated with the TapouT brand, primarily recognized from mixed martial arts and sporting events.

3. **Copa DI Vino®**
   - The leading producer of premium single-serve wine by the glass in the U.S.
   - Offers nine varietals, including Pinot Grigio, Riesling, Merlot, Chardonnay, and others.
   - Also includes a keg wine business for on-premise establishments.

4. **Pulpoloco Sangria**
   - A unique product encased in eco-friendly fiber-based cans imported from Spain.

## Operating Model 
- Splash typically outsources manufacturing to third-party co-packers and distillers, with some production handled at their own facility in The Dalles, Oregon. 
- The sales channels include national chains, independent markets, and direct-to-consumer via their e-commerce platform, Qplash.

## Customer Base
- The company targets a diverse customer base through its multi-channel distribution strategy that includes independent retailers, national chains, and direct consumers.
  
## Workforce
- Splash employs **32 full-time employees**. The management team collectively possesses over **120 years of experience** in the beverage industry.

## Financial Performance
- **Revenue & Income**: For the fiscal year ending December 31, 2023, the company reported a **net loss of $21.0 million**, and their accumulated deficit increased to **$133.3 million**.
- The company's financial condition is concerning enough that their auditors have raised doubts about the ability to continue as a going concern.

## Operational Strategy
- Splash aims to innovate and expand its market presence by focusing on brands with pre-existing recognition or innovative attributes, thereby mitigating risk and reducing development costs. They also emphasize building strong partnerships with distributors for efficient market reach.

The company has not been successful in achieving profitability, a situation deeply woven into its operational strategies and growth plans. Future improvements are expected as they increase brand presence and expand their distribution capabilities.

SPLASH BEVERAGE GROUP, INC.

10-K / July 11, 2025

10-K / March 29, 2024

10-K / July 11, 2025

Company Summary: Splash Beverage Group, Inc.

Overview

Operations & Capabilities

Market & Customer Base

Employees & Revenue

Financial & Business Status

Key Assets & Operations