Splash Beverage Group, Inc. (NYSE American: SBEV) has shared its first quarter 2025 financial outcomes, marking a pivotal transition phase aimed at addressing past liquidity issues. The company's strategic financial adjustments have notably improved its balance sheet, featuring a considerable debt reduction and the acquisition of key assets, laying the groundwork for upcoming ventures.
Post-March 31, 2025, Splash executed critical financial strategies, including converting $12.7 million in convertible notes to preferred equity, which significantly decreased its debt levels and improved shareholder equity. Furthermore, the issuance of $20 million in preferred shares secured water rights in Costa Rica, enhancing the company's balance sheet and providing access to high-purity spring water for future projects.
The quarter also welcomed leadership additions, with William Devereux stepping in as Chief Financial Officer and Tom Fore as Chair of the Audit Committee, reinforcing the company's financial governance. Despite operational challenges, Splash has preserved its infrastructure, with leadership hopeful about expanding commercial activities as financial conditions stabilize.
Bill Meissner, President and Chief Marketing Officer, recognized the difficulties encountered by stakeholders but highlighted the progress towards financial health and expansion. New CFO William Devereux voiced optimism about the revamped capital structure's ability to generate lasting value for shareholders.
