SBEV - Splash Beverage Group Comments on Delayed Filing of 10-Q
FORT LAUDERDALE, FL - (NewMediaWire) - May 31, 2023 - Splash Beverage Group, Inc. (NYSE American: SBEV) (“Splash” or the “Company”), a portfolio company of leading beverage brands, today announced it had received a notice from the NYSE Regulation of noncompliance with the NYSE American continued listing standards as a result of the Company’s delayed filing of its Quarterly Report on Form 10-Q for the period ended March 31, 2023.
The Company was unable to file the 10-Q as reported on the Form 8-K filed with the SEC on May 30th, 2023. Earlier, on March 9, 2023, the Company had with the SEC filed the Form 8-K stating that the audit firm on record had changed structurally through a merger and was to be treated as a new firm. The Company and the premerger auditor had prepared the statements on time as in previous filings however the newly engaged auditor incorporated new procedures and an extra layer of partner approval requiring additional time to complete the review of the financial statements for the period ended March 31, 2023. The Company intends to file its 10-Q as soon as practicable.
Robert Nistico, CEO, said, “We are working with the newly merged audit group as they transition and implement new processes and approvals that have unexpectedly delayed the final review and filing of our 10-Q and are working to file as soon as possible.”
About Splash Beverage Group, Inc.
Splash Beverage Group, an innovator in the beverage industry, owns a growing portfolio of alcoholic and non-alcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, Pulpoloco sangria, and TapouT performance hydration and recovery drink. Splash’s strategy is to rapidly develop early-stage brands already in its portfolio as well as acquire and then accelerate brands that have high visibility or are innovators in their categories. Led by a management team that has built and managed some of the top brands in the beverage industry and led sales from product launch into the billions, Splash is rapidly expanding its brand portfolio and global distribution.
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Forward-Looking Statement
This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, the risks disclosed in the Company’s Annual Report on Form 10-K filed with the SEC on March 8, 2021, and in the Company’s other filings with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.
Contact Information:
Splash Beverage Group
954-745-5815
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