Splash Beverage Group, Inc. (NYSE:SBEV) (“Splash” or the “Company”), a portfolio company of leading beverage brands, issued a statement today reaffirming its commitment to sustainable growth and long-term success despite a going concern opinion. This advisement does not represent any change or amendment to the Company’s financial statements or to its Annual Report on Form 10-K for the fiscal year ended December 31, 2023
The management team at the Company acknowledges concerns regarding the going concern status published in the recent 10-K. We want to assure our stakeholders, including shareholders, employees, customers, and partners, that we have actively been taking measures to address these concerns and strengthen our financial position. Despite the challenges posed by limited operating capital, The Company remains confident in the underlying strength of our business model, the dedication of our workforce, and our ability to adapt to changing capital market conditions.
“We have always understood the importance of transparency and open communication with our shareholders,” said Company CEO, Robert Nistico. “While we recognize the challenges, we have faced in executing our plan with limited operating capital in the back half of 2023, we are confident that the additional resources will be in place within enough time to ensure that our aggressive growth and acquisition plan can be fully implemented.” Bill Meissner, the Company’s President and CMO, commented further, “During this time of limited liquidity, we have made the most progress in the company’s history with securing new chain business for our beverage brands.” Splash will continue to provide updates on its progress and remains committed to delivering value to all stakeholders.
