SPLASH BEVERAGE GROUP, INC. (SBEV): debt financing — Splash Beverage Q2 rev $5.2M (+15% YoY); net loss $5.6M; cash $903k; raised $2.7M + $10M facility

From May through July, the Company entered into a series of securities purchase agreements (the “Purchase Agreements”) with certain accredited investors (the “Purchasers”). Pursuant to the Purchase Agreements, the Company sold the Purchasers 12% convertible 12 to 18-month promissory notes (the “Notes”) convertible for up to 1,600,000 shares of the Company’s common stock, $0.001 par value per share and warrants exercisable into 800,000 shares of the Company’s common stock (the “Warrants”) and received aggregate gross proceeds of $1,600,000.

On February 28, 2023, Splash Beverage Group, Inc. (the “Company”) entered into a securities purchase agreement (the “SPA”) with an accredited investor (the “Investor”). Pursuant to the SPA, the Company sold to the Investor, convertible 12-month promissory notes (the “Investor Note”) convertible for up to 2,000,000 shares of the Company’s common stock, $0.001 par value per share and received aggregate gross proceeds of $2,000,000.

On August 10, 2023, the Company and Investor entered into an amendment to the SPA (“Amendment”), pursuant to which the Company sold and issued to the Investor, an additional note (the “Second Investor Note”) convertible for up to 1,100,000 shares of the Company’s common stock, $0.001 par value per share, for aggregate gross proceeds of $1,100,000.

● Net revenues for the second quarter period ending June 30, 2023, were $5.2 million to $4.5 million in the prior year period, an of 15% over the prior year period. For the six-month period, revenues reached $11.0 million to $8.4 million in the prior year period and an of 31%. The in revenue was primarily due to sales from our B2B and B2C e-commerce platform, Qplash, which reflected an in territory coverage, new products and larger purchases per customer. In the six-month period, overall e-commerce sales 43% over the prior year period and the beverage business 7%. ● Gross profit for the second quarter period ending June 30, 2023, was $1.7 million to $1.3 million in the prior year period. Gross margin in the second quarter of 32% was a 90-basis point improvement over the prior year period, with cost efficiencies and product mix driving the improvements. Six-month gross profit was $3.5 million to $2.6 million in the prior year period, a 34.6% increase. ● TapouT Energy Drink launched towa

On August 10, 2023, the Company and Investor entered into an amendment to the SPA (“Amendment”), pursuant to which the Company sold and issued to the Investor, an additional note (the “Second Investor Note”) convertible for up to 1,100,000 shares of the Company’s common stock, $0.001 par value per share, for aggregate gross proceeds of $1,100,000.

On February 28, 2023, Splash Beverage Group, Inc. (the “Company”) entered into a securities purchase agreement (the “SPA”) with an accredited investor (the “Investor”).

From May through July, the Company entered into a series of securities purchase agreements (the “Purchase Agreements”) with certain accredited investors (the “Purchasers”). Pursuant to the Purchase Agreements, the Company sold the Purchasers 12% convertible 12 to 18-month promissory notes (the “Notes”) convertible for up to 1,600,000 shares of the Company’s common stock, $0.001 par value per share and warrants exercisable into 800,000 shares of the Company’s common stock (the “Warrants”) and received aggregate gross proceeds of $1,600,000.