Splash Beverage Group Files Q3 2024 10-Q

TL;DR

**Splash Beverage Group (SBEV) Q3 2024 10-Q filed. Check financials.**

AI Summary

Splash Beverage Group, Inc. filed its quarterly report for the period ending September 30, 2024. The company, formerly known as Canfield Medical Supply, Inc., is based in Fort Lauderdale, Florida. This filing covers the third quarter of 2024, with financial data presented for the nine months ended September 30, 2024, and comparative periods.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Splash Beverage Group, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company filing regular reports, there's inherent risk associated with financial performance and market conditions.

Key Numbers

• Q3 2024 — Reporting Period (Covers the third quarter of the fiscal year.)
• Nine months ended September 30, 2024 — Year-to-Date Period (Financials for the first nine months of the fiscal year.)

Key Players & Entities

• SPLASH BEVERAGE GROUP, INC. (company) — Filer
• Canfield Medical Supply, Inc. (company) — Former company name
• 20240930 (date) — Period of report
• 20241115 (date) — Filing date
• Fort Lauderdale, FL (location) — Business and mailing address

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 value per share SBEV NYSE American
• $250,000 — may exceed federally insured limits of $250,000. At September 30, 2024, the Company had
• $120,275 — At September 30, 2024, the Company had $120,275 in excess of the federally insured limi

Filing Documents

• e6111_10-q.htm (10-Q) — 871KB
• e6111_ex31-1.htm (EX-31.1) — 8KB
• e6111_ex31-2.htm (EX-31.2) — 8KB
• e6111_ex32-1.htm (EX-32.1) — 4KB
• e6111_ex32-2.htm (EX-32.2) — 4KB
• 0001731122-24-001822.txt ( ) — 5345KB
• sbev-20240930.xsd (EX-101.SCH) — 45KB
• sbev-20240930_cal.xml (EX-101.CAL) — 51KB
• sbev-20240930_def.xml (EX-101.DEF) — 162KB
• sbev-20240930_lab.xml (EX-101.LAB) — 354KB
• sbev-20240930_pre.xml (EX-101.PRE) — 279KB
• e6111_10-q_htm.xml (XML) — 910KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION ITEM 1:

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 1 Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Operations and Comprehensive Loss 3 Condensed Consolidated Statement of Changes in Shareholders' Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to the Condensed Consolidated Financial Statements 6 ITEM 2:

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 20 ITEM 3:

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 23 ITEM 4:

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 23

: OTHER INFORMATION

PART II: OTHER INFORMATION ITEM 1

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 24 ITEM 1A:

RISK FACTORS

RISK FACTORS 24 ITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 24 ITEM 3: DEFAULTS UPON SENIOR SECURITIES 24 ITEM 4: MINE SAFETY DISCLOSURES 24 ITEM 5: OTHER INFORMATION 24 ITEM 6: EXHIBITS 25

– FINANCIAL

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Splash Beverage Group, Inc. Condensed Consolidated Financial Statements September 30, 2024 1 Splash Beverage Group, Inc. Condensed Consolidated Balance Sheets September 30, 2024 and December 31, 2023 September 30, 2024 December 31, 2023 Assets (unaudited) Current assets: Cash and cash equivalents $ 456,889 $ 379,978 Accounts receivable, net 595,305 890,631 Prepaid expenses 406,493 220,320 Inventory 1,341,436 2,252,469 Other receivables 239,817 233,850 Total current assets 3,039,940 3,977,248 Non-current assets: Deposits $ 49,849 $ 49,446 Goodwill 256,823 256,823 Intangible assets, net 4,165,258 4,459,309 Investment in Salt Tequila USA, LLC 250,000 250,000 Right of use assets 360,654 556,140 Property and equipment, net 241,766 349,802 Total non-current assets 5,324,350 5,921,520 Total assets $ 8,364,290 $ 9,898,768 Liabilities and Stockholders' Equity Liabilities: Current liabilities Accounts payable and accrued expenses $ 5,580,252 $ 4,444,286 Right of use liability, current portion 274,574 262,860 Related party notes payable 389,000 380,000 Notes payable, net of discounts 8,974,659 7,748,518 Shareholder advances 200,000 200,000 Accrued interest payable 2,362,268 1,714,646 Total current liabilities 17,780,753 14,750,310 Long-term liabilities: Notes payable, net of discounts 1,322,870 457,656 Right of use liability – net of current portion 88,740 296,128 Total long-term liabilities 1,411,610 753,784 Total liabilities 19,192,363 15,504,094 Stockholders' equity: Preferred stock, $ 0.001 par value, 5,000,000 shares authorized, no shares issued — — Common Stock, $ 0.001 par, 300,000,000 shares authorized, 61,230,548 shares issued, 44,330,099 shares outstanding at September 30, 2024 and December 31, 2023 61,231 44,330 Additional paid in capital 135,842,349 127,701,710 Accumulated other comprehensive

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