In This Article:
FORT LAUDERDALE, FL - April 22, 2025 (NEWMEDIAWIRE) - Splash Beverage Group, Inc. (NYSE American: SBEV) ("Splash" or "the Company"), a portfolio company of leading beverage brands, experienced unusually high trading activity as it enters the appeal process with NYSE regarding its listing.
Regarding the trading activity, the NYSE American Company Guide states the following:
Whenever unusual market action takes place in a listed company's securities, the company is expected to make an inquiry to determine whether rumors or other conditions requiring corrective action exist, and, if so, to take whatever action is appropriate. If, after this review, the unusual market action remains unexplained, it may be appropriate for the company to issue a "no news" release -- i.e., announce that there has been no material development in its business and affairs not previously disclosed or, to its knowledge, any other reason to account for the unusual market action.
The Company acknowledges that to the best of its knowledge, it has not experienced any material developments since its last announcement regarding its potential merger/acquisition with Western Son Vodka. Furthermore, the Company believes this unusual trading activity is due in part to algorithmic computer trading and short selling activities.
Regarding the appeal process, the Company states the following:
The Company will enter the appeal process with the Exchanges Listing Qualifications Panel and was informed that during the appeal process, (subject to any trading halts) it will continue to trade both common stock and warrants on the NYSE American.
The Company notified the Listing Qualification Panel within the required 7 days after receipt of the Notice. The Company believes and remains confident it will be able to cure the remaining deficiency in its shareholder equity within the 60-to-90-day appeal process.
The Company was out of compliance with Sections 1003(a)(i), (ii) and (iii) of the Listed Company Manual by the end of the 18-month compliance plan period, which expired on April 6, 2025. The Company maintains it will meet the requirements but there is no guarantee of success.
About Splash Beverage Group
Splash Beverage Group, an innovator in the beverage industry, owns a growing portfolio of alcoholic and non-alcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, Chispo tequila and Pulpoloco sangria. Splash's strategy is to rapidly develop early-stage brands already in its portfolio as well as acquire, and then accelerate, brands that have high visibility or are innovators in their categories. Led by a management team that has built and managed some of the top brands in the beverage industry and has led sales from product launch into the billions, Splash is rapidly expanding its brand portfolio and global distribution.