Splash Beverage Group, Inc. (SBEV) experienced an increase of 4.1% in premarket. However, the last trading session closed at $1.22 with an increase of 17.31%.
Digital Communication Provider – What’s up?
On 15th December 2021, SBEV announced that the company has appointed a prominent digital and financial media communications agency named TraDigital IR. Splash will work with TraDigital to expand its financial marketing footprint and build new partnerships within the investing community.
SBEV is excited to collaborate with TraDigital on the communication initiatives. Since the shares were uplisted to NYSE American in June, the company has achieved a number of key milestones, along with a newly announced distribution partnership with AB One as well as new and improved product lines. Furthermore, TraDigital’s capital markets and industry experience will aid the company in the entire communications efforts, particularly in raising the profile among investors.
Third Quarter 2021 Results – Latest Updates
SBEV announced third quarter 2021 results on 16th November 2021. The company reported revenues of $2,827,393, $692,974 more than that of the third quarter of 2020. Moreover, the revenue increased by 578 percent. Furthermore, the firm lost $12.2 million from ongoing operations. All the brands help to grow sales year over year, with Copa di Vino and Pulpoloco showing exceptional success.
The cash and equivalents balance sheet is solid, with over $8 million in cash and equivalents, although non-cash costs accounted for the majority of the expenses. In addition, the company negotiated four distribution agreements to increase the reach and generate sales. Last but not the least, SBEV predicts robust growth in the fourth quarter as the company plans to sign more important distribution partnerships and benefit from those inked in the third quarter.
TapouT Performance Drink Gets Rebrand – What’s new?
On 4th November 2021, SBEV announced that TapouT, a performance hydration and recovery drink, will be rebranded on January 2022. The redesign is meant to boost consumer market appeal and enable TapouT to win major distribution networks into extended retail and shelf space as the $7 billion performance drink market continues to grow.
TapouT is a multinational lifestyle brand that has expanded beyond its fundamental position at the forefront of Mixed Martial Arts (MMA). Moreover, TapouT has been rebranded with a completely bilingual label, including all text in both English and Spanish. The ergonomic form of the bottle was created for active lifestyle customers to enjoy when working out or simply on the run. Furthermore, the new label highlights TapouT’s delectable flavor and clean formula, which includes zero sugar, no artificial sweeteners, colors, or flavors, the number of calories, 5 electrolytes, 6 B vitamins, and 3 antioxidants, as well as a unique combination of nutrients for both hydration and recovery.