Splash Beverage issues letter to shareholders

Splash Beverage Group issued a letter to shareholders from Robert Nistico, Chairman and CEO. "As we embark upon 2023, I wanted to take this opportunity to briefly update our shareholders on some key developments that have taken place at Splash Beverage Group since our last corporate update. Since our August update, we have continued to add distribution agreements and retail authorizations. This is a result of positive brand performance in existing accounts, and our growing reputation in the industry… All told, we added more than a dozen-and-a-half new distributors and half-a-dozen national and regional retail chain authorizations, adding thousands of new shelfs to fill in as we prepare for 2023. Setting up this many distributors and chains is an arduous process and takes time. However, we believe we are poised to realize the impact of these additional accounts beginning in early in 2023 and we are very pleased with our progress as we continue to build distribution throughout the U.S… We will be reporting our 2022 full year financial results soon, but our third quarter results reported in November reflected a 73% growth in gross sales on a quarter-to-quarter comparison, and 64% growth on a 9-month basis. We are confident our overall performance will eventually outpace external market influences."