SPLASH BEVERAGE GROUP, INC.

Listed Company

SBEVCIK 0001553788NYSENon-AcceleratedSmaller ReportingBeveragesNevadaFY ends Dec 31

Period

FY 2025

Revenue

$73.1K

Net Income

$-25.23M

Total Assets

—

Equity

—

Shares Out

10.96M

Op. Cash Flow

$-4.82M

Business

SPLASH BEVERAGE GROUP, INC. is a portfolio beverage company that incubates, acquires, markets and distributes consumer beverage brands across alcoholic and non‑alcoholic categories. It offers branded products including SALT naturally flavored tequilas, Copa DI Vino® single‑serve wines, Pulpoloco sangria and other beverage SKUs, and operates e‑commerce storefronts. Key business segments include wholly owned brands, joint ventures and its Qplash e‑commerce division, plus manufacturing and co‑packing operations for certain products. Its products are sold through three‑tier alcohol distributors, national retail accounts, direct‑to‑consumer e‑commerce and international markets.

Summary from filing dated 2025-07-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenues	73,066	801,273	—	—	—
Cost of goods sold	−56,168	921,070	—	—	—
Gross margin	16,898	−119,797	6	6	4
Contracted services	760,446	928,377	1	2	2
Salary and wages	3	3	5	4	4
Non-cash share-based compensation	9	2	1	7	—
Other general and administrative	2	3	11	11	8
Sales and marketing	79,014	483,515	2	3	787,827
Total operating expenses	14	10	21	27	33
Loss from continuing operations	−14	−10	−15	−21	−29
Other Income/expense	234,996	−871	—	—	—
Interest income	—	1,991	2,634	6,068	643
Interest expense	−3	−4	−2	−251,497	−442,807
Legal reserve	0	−330,000	—	—	—
Amortization of debt discount	−2	−4	—	—	—
Loss on inventory write off	−449,205	0	—	—	—
Loss on Extinguishment of debt	−6	0	—	—	—
Change in FV derivative	−20,406	0	—	—	—
Total other expense	−10	−8	−6	−245,429	−262,450
Provision for income taxes	0	0	0	0	0
Net (loss) from continuing operations, net of tax	−24	−18	−21	−22	—
Loss from discontinued operations, net of tax	−885,563	−6	—	—	—
Net (loss) from discontinued operations	−885,563	−6	0	−199,154	294,550
Net loss	−25	−24	—	—	—
Preferred Stock Dividends	−831,944	—	—	—	—
Net loss available to common stockholders	−26	−24	—	—	—
Foreign currency translation gain (loss)	−47,352	97,763	3,889	−20,472	0
Total comprehensive loss	−25	−24	—	—	—
Loss per share - continuing operations, Basic	−11.56	−13.09	−19.79	−0.58	—
Loss per share - continuing operations, Diluted	−11.56	−13.09	−19.79	−0.58	—
Loss per share - discontinued operations, Basic	−0.41	−4.59	—	—	—
Loss per share - discontinued operations, Diluted	−0.41	−4.59	—	—	—
Loss per share - Basic	−11.97	−17.68	—	—	−1.02
Loss per share - Diluted	−11.97	−17.68	—	—	−1.02
Weighted average number of common shares outstanding - continuing operations, Basic	2	1	1	37	—
Weighted average number of common shares outstanding - continuing operations, Diluted	2	1	1	37	29

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	281,435	13,789	379,978	4	4
Accounts receivable, net	15,748	191,991	890,631	2	1
Prepaid expenses	208,051	271,791	220,320	348,036	607,178
Inventory	33,538	319,104	2	4	2
Other receivables	93,221	234,770	233,850	344,376	41,939
Assets of discontinued operations	—	872,674	—	0	473,461
Total current assets	631,993	2	4	11	8
Deposit	22,734	48,922	49,446	49,290	330,886
Investment in Salt Tequila USA, LLC	250,000	250,000	250,000	250,000	250,000
Right of use assets	48,041	351,336	556,140	750,042	1
Property and equipment, net	12,926	22,210	349,802	489,597	569,785
Assets of discounted operations	—	182,598	—	—	—
Total non-current assets	333,701	855,066	6	7	8
Total assets	965,694	3	10	17	16
Accounts payable and accrued expenses	5	4	4	3	2
Derivative liability	189,582	—	—	—	—
Dividends payable	831,944	—	—	—	—
Right of use liability, current portion	50,720	58,840	262,860	268,749	294,067
Related party notes payable	389,000	389,000	380,000	0	653,081
Notes payable, net of discounts	6	10	8	1	3
Stockholder advances	0	200,000	200,000	0	—
Accrued interest payable	2	4	2	141,591	171,452
Liabilities of discontinued operations	1	2	—	0	389,086
Total current liabilities	16	19	15	5	6
Notes payable, net of discounts	3,418	2	457,656	3	300,000
Right of use liability, net of current portion	2,976	53,697	296,128	480,666	732,686
Total long-term liabilities	6,394	2	753,784	3	1
Total liabilities	16	21	16	8	8
Common Stock, $0.001 par, 400,000,000 shares authorized, 2,998,799 and 1,669,835 shares issued and outstanding, at December 31, 2025 and December 31, 2024, respectively	2,998	1,670	1,108	41,086	33,596
Additional paid in capital	167	137	128	122	99
Accumulated other comprehensive income	33,828	81,180	−16,583	−20,472	0
Accumulated deficit	−182	−156	−133	−112	−91
Total stockholders deficit	−15	−19	−6	9	9
Total liabilities and stockholders deficit	965,694	3	10	17	16

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
(Income) loss from discontinued operations	885,564	2	—	—	—
Depreciation and amortization	9,284	401,602	545,977	936,020	111,567
Amortization of debt discount	2	4	—	—	—
ROU assets, net	−24,093	5,900	3,474	4,093	−7,239
Loss from intangible impairment	—	4	—	—	—
Non-cash share-based compensation	9	2	1	7	—
Change in FV of derivative liability	20,406	—	—	—	—
Loss on extinguishment of debt	6	—	—	—	—
Accounts receivable, net	176,244	334,579	921,479	−697,658	−629,594
Inventory, net	285,566	595,649	1	−2	−1
Prepaid expenses and other current assets	205,287	−53,542	238,241	−43,294	−384,784
Deposits	26,188	524	−157	281,596	—
Accounts payable and accrued expenses	728,690	640,806	1	2	446,146
Accrued interest payable	2	2	2	−29,861	−271,296
Liability to issue shares	—	—	—	—	—
Net cash used in operating activities - continuing operations	−5	−7	−10	−14	−15
Capital expenditures	—	—	−14,113	−102,698	0
Net cash used in investing activities - continuing operations	—	—	−14,113	−102,698	0
Cash advance (repayment) from related party	—	9,000	380,000	0	—
Proceeds from issuance of debt	4	10	7	4	—
Proceeds from sale of preferred stock	1	—	—	—	—
Principal repayment of debt	−580,308	−2	−1	−636,560	—
Net cash provided by financing activities - continuing operations	5	8	6	14	19
Operating cash flows	30,879	−492,756	—	—	—
Investing cash flows	—	—	—	—	—
Financing cash flows	—	—	—	—	—
Net cash provided by (used in) discontinued operations	30,879	−492,756	—	—	—
Net cash effect of exchange rates on cash	−47,352	97,763	3,889	−20,472	—
Net change in cash and cash equivalents	267,646	−153,379	−4	250,362	4
Cash paid for Interest	132,863	795,022	243,087	204,594	—
Notes payable and accrued interest converted to Common Stock (944,685 shares in 2025 & 171,536 shares in 2024,)	3	2	—	—	—
Non-cash debt discount in the form of issuance of equity instruments in conjunction with convertible notes	747,558	3	—	—	—
Series-B Convertible Preferred Stock Issued 126,710 shares exchanged for notes payable and accrued interest	13	—	—	—	—

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