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.
To view the full press release, visit https://ibn.fm/BDe6F
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.
NOTE TO INVESTORS: The latest news and updates relating to SBEV are available in the company’s newsroom at https://ibn.fm/SBEV
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.
With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.
Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.
For more information, please visit https://www.InvestorWire.com
InvestorWire is part of the InvestorBrandNetwork.