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Splash Beverage Group, Inc. (f/k/a Canfield Medical Supply, Inc.) Reports Second Quarter 2020 Results Including Impactful Increase in Sales Compared to Q2 2019; Highlights Ongoing Covid-19 Risk Factors
Fort Lauderdale, Florida--(Newsfile Corp. - August 17, 2020) - Splash Beverage Group, Inc. (OTC Pink: SBEV) ("The Company") announces today the filing of its second quarter 2020 Form 10-Q for the period ended June 30, 2020. The report was posted to OTC Markets on Thursday, August 13, 2020 and can be viewed here: Splash Beverage 10Q 2020 Q2 Report
The Q2 report highlights impactful increase in revenues, liquidity and capital resources as well as company strategy amidst COVID-19, alongside appointment of new management
Splash Beverage Group CEO Robert Nistico estimates the Company will have net sales between $750,000 to $1,000,000 for the 13-week third quarter ended September 30, 2020.
"We are thrilled with the progress the Company has made since completion of the merger," states Nistico. "I am confident we are well positioned for exponential growth in our growing portfolio of beverage brands and concepts toward an increase in market opportunities and overall shareholder value," states Nistico.
Q2 Business Highlights:
Company Name Change:
On July 2020, we received a Certificate of Good Standing from the State of Colorado. This certificate will allow us to change our name from Canfield Medical Supply, Inc. to Splash Beverage Group, Inc. a Colorado company. In July 2020, we received approval from FINRA to change the Company's name from Canfield Medical Supply, Inc. to Splash Beverage Group, Inc, trading under the symbol SBEV on OTC Markets.
The Company announced appointments of Beverage mavens Robert Nistico (CEO) and William Meissner (President and CMO) as officers of the Company, each with extensive experience in the industry.
|·||Robert Nistico is a 26-year beverage industry veteran and was the fifth employee and VP/General Manager for Red Bull North America, where he led the start-up from zero sales to $1.45 billion. Robert is the founder and CEO of Marley Beverages and was responsible for framing out the long-term vision for the company. He also held executive positions with Diageo and Gallo. His experience has included direct and indirect sales management, strategic brand marketing, production, co-packing, packaging, budgeting, forecasting, profit and loss management, financial modeling, operations and logistics.|
|·||William Meissner is a proven leader with more than twenty years of success in growing consumer brand companies with both large multinational and medium sized entrepreneurial organizations. Prior to joining SBG, Meissner served as President and Chief Executive Office for Sweet Leaf and Tradewinds Tea, a premium beverage vertical designed to build emerging brands, Chief Executive Officer for Genesis Today, Inc. a leader in the organic nutritional supplements category, Chief Executive Officer of Tazza Pronto a joint venture between Distant Lands Coffee, Inc. and Caffita Systems SPA, Chief Executive Officer of Jones Soda, President of Talking Rain Beverages, Chief Marketing Officer of Fuze & NOS Beverages (Coca-Cola), Brand Director of SoBe Beverages (Pepsi-Co) and Nutritional Category Manager at Tetra Pak, USA Inc.|
The following information was filed by Canfield Medical Supply, Inc. (SBEV) on Tuesday, August 18, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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