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 </ix:header>
</div>


<p style="margin: 0">&#160;</p>

<!-- Field: Rule-Page --><div style="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><div style="border-top: Black 2pt solid; border-bottom: Black 1pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="margin: 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 14pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 14pt"><b>U.S.
SECURITIES AND EXCHANGE COMMISSION</b></span><b><span style="font-family: Times New Roman, Times, Serif; font-size: 12pt"><br />
Washington, D.C. 20549</span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 18pt"><b>FORM
<span id="xdx_909_edei--DocumentType_c20220101__20220331_z3lcsVjmXTz7"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" name="dei:DocumentType">10-Q</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 12pt"><b><span id="xdx_905_edei--DocumentQuarterlyReport_c20220101__20220331_ztK8PnIAb0ib"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" format="ixt:booleantrue" name="dei:DocumentQuarterlyReport">&#9746;</ix:nonNumeric></span>
</b></span><b><span style="font-family: Times New Roman, Times, Serif; font-size: 12pt">QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934</span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
the quarterly period ended <span id="xdx_901_edei--DocumentPeriodEndDate_c20220101__20220331_zMeOrtC667j4"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate">March
31, 2022</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 12pt"><b><span id="xdx_908_edei--DocumentTransitionReport_c20220101__20220331_zHKGEM9kGWic"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" format="ixt:booleanfalse" name="dei:DocumentTransitionReport">&#9744;</ix:nonNumeric></span></b></span><b><span style="font-family: Times New Roman, Times, Serif; font-size: 12pt">&#160;</span></b>&#160;<span style="font-family: Times New Roman, Times, Serif; font-size: 12pt"><b>TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
the transition period from _______ to _________</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Commission
File No. <span id="xdx_902_edei--EntityFileNumber_c20220101__20220331_zyVvyihQtgFc"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" name="dei:EntityFileNumber">001-40471</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 24pt"><b><span id="xdx_900_edei--EntityRegistrantName_c20220101__20220331_zl3dBy1cwaMk"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" name="dei:EntityRegistrantName">SPLASH BEVERAGE GROUP, INC.</ix:nonNumeric></span></b></span><b><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><br />
</span></b><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Exact name of registrant as specified in its charter)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
<td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: top; width: 50%; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_907_edei--EntityIncorporationStateCountryCode_c20220101__20220331_zbW3HRJjvoBa"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode">Nevada</ix:nonNumeric></span></b></span></td>
<td style="padding: 0pt; width: 1%; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: top; width: 49%; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_904_edei--EntityTaxIdentificationNumber_c20220101__20220331_zq4JT2K0UXwl"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" name="dei:EntityTaxIdentificationNumber">34-1720075</ix:nonNumeric></span></b></span></td></tr>
<tr>
<td style="padding: 0pt; vertical-align: top; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State
or other jurisdiction of<br /> incorporation or formation)</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; vertical-align: top; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S.
employer<br /> identification number)</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="padding: 0pt; width: 100%; text-align: center; text-indent: 0pt"><span id="xdx_902_edei--EntityAddressAddressLine1_c20220101__20220331_zgTGwqFLBRL9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" name="dei:EntityAddressAddressLine1">1314 E Las Olas Blvd.</ix:nonNumeric></b></span><b> <span id="xdx_903_edei--EntityAddressAddressLine2_c20220101__20220331_zyLQ6OfYQdxh" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" name="dei:EntityAddressAddressLine2">Suite 221</ix:nonNumeric></span></b></td></tr>
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1pt solid; padding: 0pt; text-align: center; text-indent: 0pt"><span id="xdx_900_edei--EntityAddressCityOrTown_c20220101__20220331_zwWDmLgQeMdi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" name="dei:EntityAddressCityOrTown">Fort Lauderdale</ix:nonNumeric></b></span><b><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, <span id="xdx_90F_edei--EntityAddressStateOrProvince_c20220101__20220331_zDn7EOFpLnTc"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" name="dei:EntityAddressStateOrProvince">FL</ix:nonNumeric></span>
</span></b><b><span id="xdx_908_edei--EntityAddressPostalZipCode_c20220101__20220331_zHXmu7SxT9vh" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" name="dei:EntityAddressPostalZipCode">33301</ix:nonNumeric></span></b></td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address
of principal executive offices) (Zip code)</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(<span id="xdx_906_edei--CityAreaCode_c20220101__20220331_zgizDBiPV6na"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" name="dei:CityAreaCode">954</ix:nonNumeric></span></b></span><b><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt">)
<span id="xdx_904_edei--LocalPhoneNumber_c20220101__20220331_z1zfcWvOdq92"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" name="dei:LocalPhoneNumber">745-5815</ix:nonNumeric></span></span></b><b><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><br />
</span></b><b><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(</span></b><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registrant&#8217;s
telephone number, including area code)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Not
Applicable<br />
</b>(Former name, former address and former fiscal year, if changed since last report)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities
registered pursuant to Section 12(b) of the Act:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="background-color: white">
<td style="border-bottom: black 1pt solid; padding: 0pt; white-space: nowrap; width: 35%; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Title
of each class</b></span></td>
<td style="padding: 0pt; white-space: nowrap; width: 1%; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: black 1pt solid; padding: 0pt; white-space: nowrap; width: 25%; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Trading
Symbol</b></span></td>
<td style="padding: 0pt; white-space: nowrap; width: 1%; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: black 1pt solid; padding: 0pt; white-space: nowrap; width: 38%; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name
of each exchange on which registered</b></span></td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="padding: 0pt; text-align: center"><span id="xdx_904_edei--Security12bTitle_c20220101__20220331__us-gaap--StatementClassOfStockAxis__custom--CommonStockNoParValuePerShareMember_zQ1FppwvOyz2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><ix:nonNumeric contextRef="From2022-01-012022-03-31_custom_CommonStockNoParValuePerShareMember" name="dei:Security12bTitle">Common
Stock, $0.001 value per share</ix:nonNumeric></b></span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-align: center; text-indent: 0pt"><span id="xdx_908_edei--TradingSymbol_c20220101__20220331__us-gaap--StatementClassOfStockAxis__custom--CommonStockNoParValuePerShareMember_zfpSjbXCutUc" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><ix:nonNumeric contextRef="From2022-01-012022-03-31_custom_CommonStockNoParValuePerShareMember" name="dei:TradingSymbol">SBEV</ix:nonNumeric></b></span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_901_edei--SecurityExchangeName_c20220101__20220331__us-gaap--StatementClassOfStockAxis__custom--CommonStockNoParValuePerShareMember_zLJPUzWgurzd"><ix:nonNumeric contextRef="From2022-01-012022-03-31_custom_CommonStockNoParValuePerShareMember" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName">NYSE</ix:nonNumeric></span>
American LLC</b></span></td></tr>
<tr style="background-color: White">
<td style="padding: 0pt; text-align: center; text-indent: 0pt"><span id="xdx_901_edei--Security12bTitle_c20220101__20220331__us-gaap--StatementClassOfStockAxis__custom--WarrantsToPurchaseOneWholeShareOfCommonStockAtExercisePriceOf4.60Member_zsa5vxi1hzYa" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><ix:nonNumeric contextRef="From2022-01-012022-03-31_custom_WarrantsToPurchaseOneWholeShareOfCommonStockAtExercisePriceOf4.60Member" name="dei:Security12bTitle">Warrants
to purchase one whole share of common stock at an exercise price of $4.60</ix:nonNumeric></b></span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-align: center; text-indent: 0pt"><span id="xdx_904_edei--TradingSymbol_c20220101__20220331__us-gaap--StatementClassOfStockAxis__custom--WarrantsToPurchaseOneWholeShareOfCommonStockAtExercisePriceOf4.60Member_z0AyzKe9lhma" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><ix:nonNumeric contextRef="From2022-01-012022-03-31_custom_WarrantsToPurchaseOneWholeShareOfCommonStockAtExercisePriceOf4.60Member" name="dei:TradingSymbol">SBEV-
WT</ix:nonNumeric></b></span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_90C_edei--SecurityExchangeName_c20220101__20220331__us-gaap--StatementClassOfStockAxis__custom--WarrantsToPurchaseOneWholeShareOfCommonStockAtExercisePriceOf4.60Member_z43qYQoMtt76"><ix:nonNumeric contextRef="From2022-01-012022-03-31_custom_WarrantsToPurchaseOneWholeShareOfCommonStockAtExercisePriceOf4.60Member" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName">NYSE</ix:nonNumeric></span>
American LLC</b></span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;&#160;<span id="xdx_906_edei--EntityCurrentReportingStatus_c20220101__20220331_zNBflgXwYzWd"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" name="dei:EntityCurrentReportingStatus">Yes</ix:nonNumeric>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;&#160;No</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule
405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant
was required to submit such files).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;&#160;<span id="xdx_90F_edei--EntityInteractiveDataCurrent_c20220101__20220331_zLfyrUQ5TLS7"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" name="dei:EntityInteractiveDataCurrent">Yes</ix:nonNumeric>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;&#160;No</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

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    <div style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company or an emerging growth company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221;
&#8220;smaller reporting company&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="padding: 0pt; width: 54%; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large
accelerated filer &#9744;</span></td>
<td style="padding: 0pt; width: 1%; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; width: 45%; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated
filer &#9744;</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_90D_edei--EntityFilerCategory_c20220101__20220331_z2wWjnGgrw0f" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" format="ixt-sec:entityfilercategoryen" name="dei:EntityFilerCategory">Non-accelerated filer</ix:nonNumeric></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting
company <span id="xdx_904_edei--EntitySmallBusiness_c20220101__20220331_zYLxwztb9Udf"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" format="ixt:booleantrue" name="dei:EntitySmallBusiness">&#9746;</ix:nonNumeric></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><br />
Emerging growth company <span id="xdx_905_edei--EntityEmergingGrowthCompany_c20220101__20220331_zT2Fytghovt5"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" format="ixt:booleanfalse" name="dei:EntityEmergingGrowthCompany">&#9744;</ix:nonNumeric></span></span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;&#160;Yes
&#9746;&#160;<span id="xdx_90A_edei--EntityShellCompany_c20220101__20220331_zfXv32bjSeM"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" format="ixt:booleanfalse" name="dei:EntityShellCompany">No</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after
the distribution of securities under a plan confirmed by a court. &#9744;&#160;Yes &#9744;&#160;No</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span>As
of May 16, 2022, there were <span id="xdx_90C_edei--EntityCommonStockSharesOutstanding_iI_c20220516_zBs3KZo46mhj"><ix:nonFraction name="dei:EntityCommonStockSharesOutstanding" contextRef="AsOf2022-05-16" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">36,669,828</ix:nonFraction>
</span>shares of Common Stock issued and outstanding.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<!-- Field: Page; Sequence: 2 -->
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    <div style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt; width: 100%; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SPLASH
    BEVERAGE GROUP, INC.</b></span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FORM
    10-Q</b></span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>March
    31, 2022</b></span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TABLE
OF CONTENTS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
<td colspan="2" style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Page</b></span></td></tr>
<tr style="background-color: #CCEEFF">
<td colspan="2" style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PART
I: FINANCIAL INFORMATION</b></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="background-color: white">
<td style="padding: 0pt; vertical-align: top; width: 10%; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
1:</span></td>
<td style="padding: 0pt; vertical-align: top; width: 85%; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_001">FINANCIAL
STATEMENTS</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; width: 5%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</span></td></tr>
<tr style="background-color: #CCEEFF">
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_002">Condensed
Consolidated Balance Sheets</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</span></td></tr>
<tr style="background-color: white">
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_003">Condensed
Consolidated Statements of Operations</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</span></td></tr>
<tr style="background-color: #CCEEFF">
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_004">Condensed
Consolidated Statement of Changes in Shareholders&#8217; Equity</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</span></td></tr>
<tr style="background-color: white">
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_005">Condensed
Consolidated Statements of Cash Flows</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</span></td></tr>
<tr style="background-color: #CCEEFF">
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_006">Notes
to the Condensed Consolidated Financial Statements</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</span></td></tr>
<tr style="background-color: white">
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
2:</span></td>
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><a href="#a_007"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">MANAGEMENT&#8217;S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</span></a></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</span></td></tr>
<tr style="background-color: #CCEEFF">
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
3:</span></td>
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_008">QUANTITATIVE
AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</span></td></tr>
<tr style="background-color: white">
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
4:</span></td>
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_009">CONTROLS
AND PROCEDURES</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</span></td></tr>
<tr style="background-color: #CCEEFF">
<td colspan="2" style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PART
II: OTHER INFORMATION</b></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="background-color: white">
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
1</span></td>
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_010">LEGAL
PROCEEDINGS</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</span></td></tr>
<tr style="background-color: #CCEEFF">
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
1A:</span></td>
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_011">RISK
FACTORS</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</span></td></tr>
<tr style="background-color: white">
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
2:</span></td>
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_012">UNREGISTERED
SALES OF EQUITY SECURITIES AND USE OF PROCEEDS</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</span></td></tr>
<tr style="background-color: #CCEEFF">
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
3:</span></td>
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_013">DEFAULTS
UPON SENIOR SECURITIES</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</span></td></tr>
<tr style="background-color: white">
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
4:</span></td>
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_014">MINE
SAFETY DISCLOSURES</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</span></td></tr>
<tr style="background-color: #CCEEFF">
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
5:</span></td>
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_015">OTHER
INFORMATION</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</span></td></tr>
<tr style="background-color: white">
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM
6:</span></td>
<td style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_016">EXHIBITS</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</span></td></tr>
<tr style="background-color: #CCEEFF">
<td colspan="2" style="padding: 0pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_017">SIGNATURES</a></span></td>
<td style="padding: 0pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></p>

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    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->i<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PART
I &#8211; FINANCIAL INFORMATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_001"></span>ITEM
1. FINANCIAL STATEMENTS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
Beverage Group, Inc.&#160;<br />
Condensed Consolidated Financial Statements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>March
31, 2022</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<b>&#160;</b></span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt; width: 100%; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
    Beverage Group, Inc</b>&#160;<b>.</b></span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_002"></span>Condensed
    Consolidated Balance Sheets</b></span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>March
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  <tr style="vertical-align: bottom">
    <td style="padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Unaudited)</b></span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<table cellpadding="0" cellspacing="0" id="xdx_303_111_ztMoQe5R6hgg" summary="xdx: Statement - Condensed Consolidated Balance Sheets (Unaudited)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">&#160;</td>
<td>&#160;</td>
<td colspan="3" id="xdx_496_20220331_zaKBjjNcKXZi" style="text-align: center">&#160;</td>
<td>&#160;</td>
<td colspan="3" id="xdx_497_20211231_zdWeAKbuzKdk" style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"></td>
<td style="padding-bottom: 1pt"></td>
<td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2022</td>
<td style="padding-bottom: 1pt"></td>
<td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2021</td></tr>
<tr id="xdx_406_eus-gaap--AssetsAbstract_iB_zuPvuWCPzZbl" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; font-weight: bold; text-align: center; text-indent: -10pt"><span style="text-decoration: underline">Assets</span></td>
<td style="padding-bottom: 1pt"></td>
<td colspan="3" style="text-align: center"></td>
<td style="padding-bottom: 1pt"></td>
<td colspan="3" style="text-align: center"></td></tr>
<tr id="xdx_40E_eus-gaap--AssetsCurrentAbstract_i01B_zojNyGfQMtle" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Current assets:</td>
<td></td>
<td colspan="3" style="text-align: center"></td>
<td></td>
<td colspan="3" style="text-align: center"></td></tr>
<tr id="xdx_406_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_maCzxJF_z93kpWTh381k" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 20pt; width: 56%; text-align: left; text-indent: -10pt">Cash and cash equivalents</td>
<td style="width: 8%"></td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 12%; text-align: right"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsAtCarryingValue" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">8,495,672</ix:nonFraction></td>
<td style="width: 1%; text-align: left">&#160;</td>
<td style="width: 8%"></td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 12%; text-align: right"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsAtCarryingValue" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,181,383</ix:nonFraction></td>
<td style="width: 1%; text-align: left">&#160;</td></tr>
<tr id="xdx_401_eus-gaap--AccountsReceivableNetCurrent_i02I_maCzxJF_zNEcZUv5F612" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Accounts Receivable, net</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:AccountsReceivableNetCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,394,293</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:AccountsReceivableNetCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,114,452</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_402_eus-gaap--PrepaidExpenseCurrent_i02I_maCzxJF_zIWRIrOWWFFj" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Prepaid Expenses</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:PrepaidExpenseCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">653,036</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:PrepaidExpenseCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">607,178</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_407_eus-gaap--InventoryNet_i02I_maCzxJF_zOKnZzPoLMmf" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Inventory, net</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:InventoryNet" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,056,985</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:InventoryNet" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,923,479</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40B_eus-gaap--OtherReceivablesNetCurrent_i02I_maCzxJF_zWaxyNKIce6c" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Other receivables</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:OtherReceivablesNetCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">45,811</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:OtherReceivablesNetCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">41,939</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40E_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent_i02I_maCzxJF_zUqe3CQ2rxU6" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Assets from discontinued operations</td>
<td style="padding-bottom: 1pt"></td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">252,297</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td>
<td style="padding-bottom: 1pt"></td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">473,461</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr id="xdx_40F_eus-gaap--AssetsCurrent_i02TI_mtCzxJF_maCzriu_z1cGVgu32ea8" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Total current assets</td>
<td style="padding-bottom: 1pt"></td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:AssetsCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">12,898,094</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td>
<td style="padding-bottom: 1pt"></td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:AssetsCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">8,341,892</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"></td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_405_eus-gaap--AssetsNoncurrentAbstract_i01B_zXIkdb7Dqswh" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Non-current assets:</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_405_eus-gaap--DepositAssets_i02I_maCzwLd_zzEguZSetfsd" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-indent: -10pt">Deposit</td>
<td></td>
<td style="text-align: left">$</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:DepositAssets" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">206,508</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td></td>
<td style="text-align: left">$</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:DepositAssets" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">330,886</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsNet_i02I_maCzwLd_z0Om9u5i5eei" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Intangible assets</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:FiniteLivedIntangibleAssetsNet" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,763,318</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:FiniteLivedIntangibleAssetsNet" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,861,335</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_408_eus-gaap--Investments_i02I_maCzwLd_zYxQ6kPh33a7" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Investment in Salt Tequila USA, LLC</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:Investments" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">250,000</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:Investments" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">250,000</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40F_eus-gaap--OperatingLeaseRightOfUseAsset_i02I_maCzwLd_zkeYijMrx179" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Right of use asset, net</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseRightOfUseAsset" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">950,851</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseRightOfUseAsset" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,031,472</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentNet_i02I_maCzwLd_zU86A5C7qxr1" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Property and equipment, net</td>
<td style="padding-bottom: 1pt"></td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">542,535</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td>
<td style="padding-bottom: 1pt"></td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">569,785</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr id="xdx_408_eus-gaap--AssetsNoncurrent_i02TI_mtCzwLd_maCzriu_zdwgKtZfpa3k" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Total non-current assets</td>
<td style="padding-bottom: 1pt"></td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:AssetsNoncurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,713,212</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td>
<td style="padding-bottom: 1pt"></td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:AssetsNoncurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">8,043,478</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"></td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_403_eus-gaap--Assets_i01TI_mtCzriu_zXxtN5JE6aee" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Total assets</td>
<td style="padding-bottom: 2.5pt"></td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:Assets" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">20,611,306</ix:nonFraction></td>
<td style="padding-bottom: 2.5pt; text-align: left">&#160;</td>
<td style="padding-bottom: 2.5pt"></td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:Assets" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">16,385,370</ix:nonFraction></td>
<td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"></td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40C_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td colspan="9" style="text-decoration: underline; font-weight: bold; text-align: center; padding-left: 5.4pt">Liabilities and Stockholders&#8217;
Equity</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"></td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40B_eus-gaap--LiabilitiesAbstract_i01B_zBnS93cK29r1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Liabilities:</td>
<td></td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40F_eus-gaap--LiabilitiesCurrentAbstract_i02B_zKFFin7TiLSl" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Current liabilities</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_406_eus-gaap--AccountsPayableCurrent_i03I_maCz2tF_zpH3fhW3bcp2" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Accounts payable and accrued expenses</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:AccountsPayableCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,517,305</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">$</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:AccountsPayableCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,901,535</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_401_ecustom--LiabilityToIssueSharesCurrent_i03I_maCz2tF_zv6sPTwHszVa" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Liability to issue shares</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="sbev:LiabilityToIssueSharesCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">476,667</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0106">&#151;</span></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40C_eus-gaap--SalesAndExciseTaxPayableCurrent_i03I_maCz2tF_zBIrnp4PfPUf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Sales tax payable</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:SalesAndExciseTaxPayableCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">15,322</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:SalesAndExciseTaxPayableCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">11,924</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityCurrent_i03I_maCz2tF_zI796UJsZeN3" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Right of use liability - current</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseLiabilityCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">284,372</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseLiabilityCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">294,067</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_403_eus-gaap--NotesPayableRelatedPartiesClassifiedCurrent_i03I_maCz2tF_zyI6ddATEKl6" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Related party notes payable</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:NotesPayableRelatedPartiesClassifiedCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">312,351</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:NotesPayableRelatedPartiesClassifiedCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">653,081</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_400_eus-gaap--NotesPayableCurrent_i03I_maCz2tF_zHxnZ1asb6ac" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Notes payable, current portion</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:NotesPayableCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,171,068</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:NotesPayableCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,967,812</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_405_eus-gaap--DueToOfficersOrStockholdersCurrent_i03I_maCz2tF_zN7eAgwbiX63" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Shareholder advances</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:DueToOfficersOrStockholdersCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">110,000</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:DueToOfficersOrStockholdersCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">390,500</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_406_eus-gaap--InterestPayableCurrent_i03I_maCz2tF_zrcluVCbi8U1" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Accrued interest payable</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:InterestPayableCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">154,209</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:InterestPayableCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">171,452</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40F_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent_i03I_maCz2tF_z2QRjWYu3U67" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Liabilities from discontinued operations</td>
<td style="padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">392,497</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td>
<td style="padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">389,086</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr id="xdx_406_eus-gaap--LiabilitiesCurrent_i03TI_mtCz2tF_maCzyZA_zOIfsd2ZRo2f" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Total current liabilities</td>
<td style="padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:LiabilitiesCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,433,791</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td>
<td style="padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:LiabilitiesCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,779,457</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40A_eus-gaap--LiabilitiesNoncurrentAbstract_i01B_z5L7gTKufUhh" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Long-term Liabilities:</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"></td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"></td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"></td>
<td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"></td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"></td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40B_ecustom--LiabilityToIssueSharesInApa_i02I_maCzbYs_zZtK6ahcEiNl" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Liability to issue shares in APA</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0135">&#151;</span></td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0136">&#151;</span></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilityNoncurrent_i02I_pp0p0_maCzbYs_zvgvSMCdAydf" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Right of use liability - noncurrent</td>
<td style="padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseLiabilityNoncurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">668,693</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td>
<td style="padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseLiabilityNoncurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">732,686</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr id="xdx_403_eus-gaap--LiabilitiesNoncurrent_i01TI_mtCzbYs_maCzyZA_zla1fNbXFY9i" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Total long-term liabilities</td>
<td style="padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:LiabilitiesNoncurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">668,693</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td>
<td style="padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:LiabilitiesNoncurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">732,686</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40A_eus-gaap--Liabilities_iTI_mtCzyZA_maCzlCJ_maLASEzy1C_zGjkjNlrQpki" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Total liabilities</td>
<td style="padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:Liabilities" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,102,484</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td>
<td style="padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:Liabilities" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,512,143</ix:nonFraction></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_407_eus-gaap--TreasuryStockValue_iI_msLASEzy1C_z9eiEoDReQK7" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Common stock, (mezzanine shares) 12,605,283 shares, contingently
convertible to notes payable at December 31, 2020</td>
<td style="padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0147">&#151;</span></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td>
<td style="padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0148">&#151;</span></td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_407_eus-gaap--StockholdersEquityAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Deficiency in stockholders&#8217; equity (deficit):</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_400_eus-gaap--CommonStockValue_i01I_maCzMAS_maSEzzLD_zNCP0AqY3q12" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Common Stock, $<span id="xdx_900_eus-gaap--CommonStockParOrStatedValuePerShare_c20211231_pdd"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.001</ix:nonFraction>
</span>par, <span id="xdx_90A_eus-gaap--CommonStockSharesAuthorized_c20211231_pdd"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">150,000,000</ix:nonFraction>
</span>shares authorized, <span id="xdx_906_eus-gaap--CommonStockSharesIssued_c20220331_pdd"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">36,669,828</ix:nonFraction>
</span>and <span id="xdx_901_eus-gaap--CommonStockSharesIssued_c20211231_pdd"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">33,596,232</ix:nonFraction>
</span>shares issued <span id="xdx_901_eus-gaap--CommonStockSharesOutstanding_c20220331_pdd"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">36,669,828</ix:nonFraction>
</span>and <span id="xdx_900_eus-gaap--CommonStockSharesOutstanding_c20211231_pdd"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">33,596,232</ix:nonFraction>
</span>outstanding, at March 31, 2022 and December 31, 2021, respectively</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:CommonStockValue" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">36,670</ix:nonFraction></td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right"><ix:nonFraction name="us-gaap:CommonStockValue" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">33,596</ix:nonFraction></td>
<td style="text-align: left">&#160;</td></tr>
<tr id="xdx_407_eus-gaap--AdditionalPaidInCapital_i01I_maCzMAS_maSEzzLD_zAJn63WeO7ak" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Additional paid in capital</td>
<td>&#160;</td>
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<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
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<td style="text-align: left">&#160;</td></tr>
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<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Accumulated deficit</td>
<td style="padding-bottom: 1pt">&#160;</td>
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<td style="padding-bottom: 1pt">&#160;</td>
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<td>&#160;</td>
<td style="text-align: left">&#160;</td>
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<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
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<td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
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<td style="padding-bottom: 2.5pt">&#160;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
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<td style="padding-bottom: 2.5pt; text-align: left">&#160;</td>
<td style="padding-bottom: 2.5pt">&#160;</td>
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<td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these condensed consolidated financial statements.&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: bottom">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>

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    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
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  </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these condensed consolidated financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
Beverage Group, Inc.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_004"></span>Condensed
Consolidated Statement of Changes in Stockholders&#8217; Equity</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
the three months ended March 31, 2022 and 2021</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<table cellpadding="0" cellspacing="0" id="xdx_30A_114_z9BAEMI4F7Ma" summary="xdx: Statement - Condensed Consolidated Statement of Changes in Deficiency in Stockholders&apos; Equity (Unaudited)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2022</span></td>
<td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 1pt 10pt; width: 56%; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
stockholders&#8217; equity, beginning balances</span></td>
<td style="width: 8%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_988_eus-gaap--StockholdersEquity_iS_pp0p0_c20220101__20220331_ztp6MLnj5Wab" title="Beginning balance" style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">8,873,227</ix:nonFraction></span></td>
<td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 8%; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_98F_eus-gaap--StockholdersEquity_iS_pp0p0_c20210101__20210331_zsC9iYDiuMo7" title="Beginning balance" style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2020-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">9,350,724</ix:nonFraction></span></td>
<td style="width: 1%; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
stock and additional paid-in capital</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beginning
balances</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_985_eus-gaap--StockholdersEquity_iS_pp0p0_c20220101__20220331__us-gaap--StatementEquityComponentsAxis__custom--CommonStockAndAdditionalPaidInCapitalMember_z1XDClrWWWvl" title="Beginning balance" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-12-31_custom_CommonStockAndAdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">99,513,784</ix:nonFraction></span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_983_eus-gaap--StockholdersEquity_iS_pp0p0_c20210101__20210331__us-gaap--StatementEquityComponentsAxis__custom--CommonStockAndAdditionalPaidInCapitalMember_z763u41Rh1tb" title="Beginning balance" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2020-12-31_custom_CommonStockAndAdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">52,239,012</ix:nonFraction></span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance
of common stock upon conversion of<br />
convertible instruments</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_986_ecustom--IssuanceOfWarrantsOnConvertibleInstruments_c20220101__20220331__us-gaap--StatementEquityComponentsAxis__custom--CommonStockAndAdditionalPaidInCapitalMember_pp0p0" title="Issuance of warrants on convertible instruments" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="sbev:IssuanceOfWarrantsOnConvertibleInstruments" contextRef="From2022-01-012022-03-31_custom_CommonStockAndAdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,206,510</ix:nonFraction></span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance
of warrants for services</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_98C_ecustom--IssuanceOfWarrantsForServices_pp0p0_c20220101__20220331__us-gaap--StatementEquityComponentsAxis__custom--CommonStockAndAdditionalPaidInCapitalMember_zSVnarESidW7" title="Issuance of warrants for services" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="sbev:IssuanceOfWarrantsForServices" contextRef="From2022-01-012022-03-31_custom_CommonStockAndAdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,242,697</ix:nonFraction></span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_98A_ecustom--IssuanceOfWarrantsForServices_c20210101__20210331__us-gaap--StatementEquityComponentsAxis__custom--CommonStockAndAdditionalPaidInCapitalMember_pp0p0" title="Issuance of warrants for services" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="sbev:IssuanceOfWarrantsForServices" contextRef="From2021-01-012021-03-31_custom_CommonStockAndAdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,186,596</ix:nonFraction></span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance
of common stock for services</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_980_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20220101__20220331__us-gaap--StatementEquityComponentsAxis__custom--CommonStockAndAdditionalPaidInCapitalMember_pp0p0" title="Issuance of Common stock for services" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueIssuedForServices" contextRef="From2022-01-012022-03-31_custom_CommonStockAndAdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,113,395</ix:nonFraction></span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_982_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20210101__20210331__us-gaap--StatementEquityComponentsAxis__custom--CommonStockAndAdditionalPaidInCapitalMember_pp0p0" title="Issuance of Common stock for services" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueIssuedForServices" contextRef="From2021-01-012021-03-31_custom_CommonStockAndAdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">731,035</ix:nonFraction></span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance
of common stock for cash</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_989_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_c20220101__20220331__us-gaap--StatementEquityComponentsAxis__custom--CommonStockAndAdditionalPaidInCapitalMember_pp0p0" title="Issuance of Common stock for cash" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:SaleOfStockConsiderationReceivedPerTransaction" contextRef="From2022-01-012022-03-31_custom_CommonStockAndAdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">8,067,400</ix:nonFraction></span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_98F_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_c20210101__20210331__us-gaap--StatementEquityComponentsAxis__custom--CommonStockAndAdditionalPaidInCapitalMember_pp0p0" title="Issuance of Common stock for cash" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:SaleOfStockConsiderationReceivedPerTransaction" contextRef="From2021-01-012021-03-31_custom_CommonStockAndAdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">4,350,624</ix:nonFraction></span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 1pt 30pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassification
of Mezzanine shares</span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_986_eus-gaap--StockIssuedDuringPeriodValueOther_c20220101__20220331__us-gaap--StatementEquityComponentsAxis__custom--CommonStockAndAdditionalPaidInCapitalMember_pp0p0" title="Reclassification of Mezannine shares" style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0298">&#8212;</span></span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_980_eus-gaap--StockIssuedDuringPeriodValueOther_c20210101__20210331__us-gaap--StatementEquityComponentsAxis__custom--CommonStockAndAdditionalPaidInCapitalMember_pp0p0" title="Reclassification of Mezannine shares" style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueOther" contextRef="From2021-01-012021-03-31_custom_CommonStockAndAdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">9,248,720</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 1pt 20pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;Ending
balances</span></td>
<td style="padding-bottom: 1pt"></td>
<td style="padding-bottom: 1pt; text-align: left"></td>
<td id="xdx_982_eus-gaap--StockholdersEquity_iE_pp0p0_c20220101__20220331__us-gaap--StatementEquityComponentsAxis__custom--CommonStockAndAdditionalPaidInCapitalMember_zIGr9VEqRHgg" title="Ending balance" style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-03-31_custom_CommonStockAndAdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">111,143,786</ix:nonFraction></p><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
<td style="padding-bottom: 1pt; text-align: left"></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_986_eus-gaap--StockholdersEquity_iE_pp0p0_c20210101__20210331__us-gaap--StatementEquityComponentsAxis__custom--CommonStockAndAdditionalPaidInCapitalMember_zz3b79pbuxq3" title="Ending balance" style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-03-31_custom_CommonStockAndAdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">67,935,987</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated
deficit</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beginning
balances</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_982_eus-gaap--StockholdersEquity_iS_pp0p0_c20220101__20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_z7LNQL4I43d3" title="Beginning balance" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-12-31_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">90,640,557</ix:nonFraction></span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_989_eus-gaap--StockholdersEquity_iS_pp0p0_c20210101__20210331__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_zdstBfqzgsE3" title="Beginning balance" style="text-align: right">(<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2020-12-31_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">61,589,735</ix:nonFraction></span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 1pt 30pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
loss</span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_989_eus-gaap--NetIncomeLoss_pp0p0_c20220101__20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_z5w1RF6gQpz1" title="Net loss" style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2022-01-012022-03-31_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">5,994,407</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_980_eus-gaap--NetIncomeLoss_pp0p0_c20210101__20210331__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_zuit5JcfDBUi" title="Net loss" style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2021-01-012021-03-31_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">4,442,219</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 1pt 20pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ending
balances</span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_98D_eus-gaap--StockholdersEquity_iE_pp0p0_c20220101__20220331__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_zptRqxPEk1Ic" title="Ending balance" style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-03-31_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">96,544,694</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_98E_eus-gaap--StockholdersEquity_iE_pp0p0_c20210101__20210331__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_zhxYFk366Wgd" title="Ending balance" style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-03-31_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">66,031,954</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 30pt; display: none; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
loss</span></td>
<td style="display: none; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; display: none; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_98C_eus-gaap--NetIncomeLoss_pp0p0_c20220101__20220331_zRIxfjc0KMVd" title="Net loss" style="border-bottom: Black 1pt solid; display: none; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2022-01-01to2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">5,994,407</ix:nonFraction></span></td>
<td style="display: none; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td>
<td style="display: none; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; display: none; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_986_eus-gaap--NetIncomeLoss_pp0p0_c20210101__20210331_zIjT3DOS7Ore" title="Net loss" style="border-bottom: Black 1pt solid; display: none; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2021-01-012021-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">4,442,219</ix:nonFraction></span></td>
<td style="display: none; padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 1pt 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
stockholders&#8217; equity, ending balances</span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_985_eus-gaap--StockholdersEquity_iE_pp0p0_c20220101__20220331_znyqENHcym3i" title="Ending balance" style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">14,508,822</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_987_eus-gaap--StockholdersEquity_iE_pp0p0_c20210101__20210331_zLOIZCJ29cP2" title="Ending balance" style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,904,032</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these condensed consolidated financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 100%; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
    Beverage Group, Inc.</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_005"></span>Condensed
    Consolidated Statement Cash Flows </b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Unaudited)</b></span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;&#160;</p><table cellpadding="0" cellspacing="0" id="xdx_309_112_zncVvZIbeZq" summary="xdx: Statement - Condensed Consolidated Statement Cash Flows (Unaudited)" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td id="xdx_498_20220101__20220331_zoZhPpJ5EyH7" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td id="xdx_497_20210101__20210331_zYL2oD89FCfa" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom"><td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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  <tr id="xdx_405_ecustom--FinanceCharges_i01N_di_msCzS4c_zfNDnHpSWlBk" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_407_ecustom--BeneficialConversion_i01N_di_msCzS4c_z3Lzzpu5Rmna" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40D_ecustom--NoncashWarrantExpense_i01N_di_msCzS4c_z7xb1xceXvi" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_40B_eus-gaap--IncreaseDecreaseInOperatingCapitalAbstract_i01B_zUremYJTX54k" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40A_eus-gaap--IncreaseDecreaseInAccountsReceivable_i02N_di_msCzS4c_zYILXcncTZz4" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_402_eus-gaap--IncreaseDecreaseInInventories_i02N_di_msCzS4c_zqpxYxKP3oY4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory,
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  <tr id="xdx_408_eus-gaap--IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_i02N_di_msCzS4c_zsdzDDVJwMFf" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_401_eus-gaap--IncreaseDecreaseInDeposits_i02_maCzS4c_zDC30ByqPJCb" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 30pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deposits</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_408_eus-gaap--IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_i02_maCzS4c_zS83q19Ihhsi" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_40A_eus-gaap--IncreaseDecreaseInInterestPayableNet_i02_maCzS4c_zfVm9eOEw2nh" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_404_eus-gaap--NetCashProvidedByUsedInInvestingActivitiesAbstract_iB_zAqjeaZTSu6l" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_40C_eus-gaap--PaymentsToAcquireProductiveAssets_i01N_di_msCzxl3_zFmrmH1nWIj8" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_406_eus-gaap--PaymentsToAcquireInvestments_i01N_di_msCzxl3_zO4CeqRCgjr" style="vertical-align: bottom; background-color: White">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0384">&#151;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40E_eus-gaap--PaymentsToAcquireBusinessesNetOfCashAcquired_i01N_pp0p0_di_msCzxl3_z7YmZe09FfB5" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_401_eus-gaap--CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations_i01_maCzBRU_zVrzyHq1BXci" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_409_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_i01T_mtCzBRU_zR2yU4vfSjbi" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these condensed consolidated financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
Beverage Group, Inc.</b>&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_006"></span>Notes
to the Condensed Consolidated Financial Statements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock"><p id="xdx_80E_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_zdEfo9VC72f3" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
                                            1 &#8211; <span id="xdx_820_zlCPyBVPQgof">Business Organization and Nature of Operations</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Splash seeks to identify, acquire, and build early
stage or under-valued beverage brands that have strong growth potential within its distribution system. Splash&#8217;s distribution system
is comprehensive in the US and is now expanding to select attractive international markets. The Splash brand portfolio is growing and
diverse, covering multiple categories that are exhibiting strong growth in both the non-alcohol and alcohol sectors. Through its wholly
owned subsidiary Qplash, Splash&#8217;s distribution reach includes e-commerce access to both B-to-B and B-to-C customers. Q-plash markets
well known beverage brands to customers throughout the US that prefer delivery direct to their office, facilities and or homes.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
February 2021, Management initiated a plan to divest its Canfied Medical Supply, Inc. (&#8220;CMS&#8221;) business. As a result, the assets and operations of CMS have been retrospectively
reflected as discontinued operations. On November 12, 2021 the Company changed its state of Domicile from Colorado to Nevada.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
coordination with uplisting to the NYSE&#160;on June 11, 2021 the Company consummated a 1.0 for 3.0 reverse stock split. All common stock
shares stated herein have been adjusted on a retrospective basis to reflect the split.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:exclude><p id="xdx_23D_zqD4L7XGIoK3" style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 9; Value: 1 -->
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<ix:exclude><p id="xdx_234_zqQuOmBqrQz9" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p><ix:exclude><p id="xdx_23A_zAwbpk49pt3a" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
                                            Beverage Group, Inc.</b>&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23B_zGu9fbr23pTg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
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<ix:exclude><p id="xdx_235_zBCOXllo7izh" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:SignificantAccountingPoliciesTextBlock"><p id="xdx_80C_eus-gaap--SignificantAccountingPoliciesTextBlock_zkRK8ABg3qB8" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt; text-align: justify; text-indent: -72pt"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
                                            2 &#8211; <span id="xdx_829_zM9HHZnet7N1">Summary of Significant Accounting Policies </span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt; text-align: justify; text-indent: -72pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:ConsolidationPolicyTextBlock"><p id="xdx_845_eus-gaap--ConsolidationPolicyTextBlock_z3JGLz1DCFBk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_86D_zShrtiDrZbG1" style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Basis
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
condensed consolidated financial statements include the accounts of Splash Beverage Group and its wholly owned subsidiaries, Holdings, Copa di Vino, Inc.(&#8216;CdV&#8221;) and Splash Mexico., CMS is reflected as discontinued operations. All intercompany balances have been eliminated in consolidation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
accounting and reporting policies conform to accounting principles generally accepted in the United States of America (GAAP).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying condensed financial statements have been prepared by us without audit. In the opinion of management, all adjustments (which
include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for
the three months ended March 31, 2022 and 2021 have been made.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
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The results of operations for the period ended March 31, 2022 are not necessarily indicative of the operating results for the full year.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:UseOfEstimates"><p id="xdx_84E_eus-gaap--UseOfEstimates_zuczUC90BDge" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_869_zJnHmZDzmdpf" style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use
                                            of Estimates</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
preparation of condensed consolidated financial statements in conformity with GAAP requires our management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated
financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from
those estimates.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:CashAndCashEquivalentsPolicyTextBlock"><p id="xdx_844_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zVwRc5F55e85" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_860_zVkOrQ4pC2r1" style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cash
                                            Equivalents and Concentration of Cash Balance</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
consider all highly liquid securities with an original maturity of three months or less to be cash equivalents. We had <span id="xdx_906_eus-gaap--CashEquivalentsAtCarryingValue_iI_pp0p0_do_c20211231_zwwb55xKpNx3"><ix:nonFraction name="us-gaap:CashEquivalentsAtCarryingValue" contextRef="AsOf2021-12-31" format="ixt-sec:numwordsen" decimals="0" scale="0" unitRef="USD">no</ix:nonFraction></span>
</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">cash equivalents at March 31, 2022 or December
31, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our cash in bank deposit amounts, at times, may exceed
federally insured limits of $250,000. At March 31, 2022 we had $<span id="xdx_90E_eus-gaap--CashFDICInsuredAmount_c20220331_pp0p0"><ix:nonFraction name="us-gaap:CashFDICInsuredAmount" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">7,632,587</ix:nonFraction>
</span>in excess of the federally insured limits. Our bank deposit amounts in Mexico $<span id="xdx_900_eus-gaap--CashUninsuredAmount_c20220331_pp0p0"><ix:nonFraction name="us-gaap:CashUninsuredAmount" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">2,169</ix:nonFraction>
</span>are uninsured.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>


<ix:exclude><p id="xdx_23D_z2hBeMIIsHgj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23F_zlNYs7ajME6k" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 10; Value: 1 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_235_zsyvbQIR2Sp2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_232_zuWI7khCDXf2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
            Beverage Group, Inc.</b>&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_235_zIkFV4p965Jg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
            to the Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23C_z1QDNjXhrSCe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_238_zAHP5z3kJMHl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
            2 &#8211; Summary of Significant Accounting Policies, continued</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23B_zozRlchQBuck" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:ReceivablesPolicyTextBlock"><p id="xdx_84C_eus-gaap--ReceivablesPolicyTextBlock_zp1Lbw6sKCu3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_869_zpPifS4KbF69" style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Accounts
                                            Receivable and Allowance for Doubtful Accounts</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts
receivable are carried at their estimated recoverable amounts and are periodically evaluated for collectability based on past credit
history with clients and other factors. We establish provisions for losses on accounts receivable on the basis of loss experience, known
and inherent risk in the account balance, and current economic conditions. At March 31, 2022 and December 31, 2021, our accounts receivable
amounts are reflected net of allowances of $<span id="xdx_90E_eus-gaap--AccountsReceivableNet_c20220331_pp0p0"><ix:nonFraction name="us-gaap:AccountsReceivableNet" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">13,949</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_90F_eus-gaap--AccountsReceivableNet_c20211231_pp0p0"><ix:nonFraction name="us-gaap:AccountsReceivableNet" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">45,203</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">,
respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:InventoryPolicyTextBlock"><p id="xdx_847_eus-gaap--InventoryPolicyTextBlock_zxGKwPso4tJ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_863_zdN4IVRtGNAk" style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Inventory</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory
is stated at the lower of cost or net realizable value, accounted for using the weighted average cost method. The inventory balances
at March 31, 2022 and December 31, 2021 consisted of raw materials, work-in-process, and finished goods held for distribution. The cost
elements of inventory consist of purchase of products, transportation, and warehousing. We establish provisions for excess or inventory
near expiration are based on management&#8217;s estimates of forecast turnover of inventories on hand and under contract. A significant
change in the timing or level of demand for certain products as compared to forecast amounts may result in recording additional provisions
for excess or expired inventory in the future. Provisions for excess inventory are included in cost of goods sold and have historically
been adequate to provide for losses on inventory.&#160;We manage inventory levels and purchase commitments in an effort to maximize utilization
of inventory on hand and under commitments. The amount of our reserve was $<span id="xdx_909_eus-gaap--InventoryValuationReserves_c20220331_pp0p0"><ix:nonFraction name="us-gaap:InventoryValuationReserves" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">253,703</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_90E_eus-gaap--InventoryValuationReserves_c20211231_pp0p0"><ix:nonFraction name="us-gaap:InventoryValuationReserves" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">223,223</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">at March 31, 2022 and December 31, 2021, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:PropertyPlantAndEquipmentPolicyTextBlock"><p id="xdx_841_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zFWFpDVR17ql" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_86B_zPuyAPk7E4x2" style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Property
                                            and Equipment</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
record property and equipment at cost when purchased. Depreciation is recorded for property, equipment, and software using the straight-line
method over the estimated economic useful lives of assets, which range from <span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20220101__20220331__srt--RangeAxis__srt--MinimumMember_zpsiboMX8dHj"><ix:nonNumeric contextRef="From2022-01-012022-03-31_srt_MinimumMember" format="ixt-sec:duryear" name="us-gaap:PropertyPlantAndEquipmentUsefulLife">3</ix:nonNumeric></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-<span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20220101__20220331__srt--RangeAxis__srt--MaximumMember_znawhcczlrE1"><ix:nonNumeric contextRef="From2022-01-012022-03-31_srt_MaximumMember" format="ixt-sec:duryear" name="us-gaap:PropertyPlantAndEquipmentUsefulLife">39</ix:nonNumeric>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">years. Company management reviews the recoverability
of all long-lived assets, including the related useful lives, whenever events or changes in circumstances indicate that the carrying
amount of a long-lived asset might not be recoverable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation
expense totaled $<span id="xdx_906_eus-gaap--Depreciation_pp0p0_c20220101__20220331_zlM2NgaEW4pl"><ix:nonFraction name="us-gaap:Depreciation" contextRef="From2022-01-01to2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">30,695</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_902_eus-gaap--Depreciation_c20210101__20210331_pp0p0"><ix:nonFraction name="us-gaap:Depreciation" contextRef="From2021-01-012021-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">43,487</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for the three months ended March 31, 2022 and
March 31, 2021, respectively. Property and equipment as of March 31, 2022 and December 31, 2021 consisted of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:PropertyPlantAndEquipmentTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_89C_eus-gaap--PropertyPlantAndEquipmentTextBlock_zVeHkf377KKa" summary="xdx: Disclosure - Summary of Significant Accounting Policies (Details)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8BD_zI0Qfuzk3de" style="display: none">Schedule
    of Property and equipment</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td colspan="3" style="text-align: center">2022</td><td>&#160;</td>
    <td colspan="3" style="text-align: center">2021</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Machinery &amp; equipment</td><td style="width: 8%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_c20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_pp0p0" title="Property and equipment, at cost" style="width: 12%; text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="AsOf2022-03-31_us-gaap_MachineryAndEquipmentMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,108,870</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_c20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_pp0p0" title="Property and equipment, at cost" style="width: 12%; text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="AsOf2021-12-31_us-gaap_MachineryAndEquipmentMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,108,870</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Buildings</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_c20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingMember_pp0p0" title="Property and equipment, at cost" style="text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="AsOf2022-03-31_us-gaap_BuildingMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">282,988</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_c20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingMember_pp0p0" title="Property and equipment, at cost" style="text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="AsOf2021-12-31_us-gaap_BuildingMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">279,543</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Leasehold improvements</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_c20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_pp0p0" title="Property and equipment, at cost" style="text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="AsOf2022-03-31_us-gaap_LeaseholdImprovementsMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">662,537</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zHS7XccuvVqe" title="Property and equipment, at cost" style="text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="AsOf2021-12-31_us-gaap_LeaseholdImprovementsMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">662,537</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Office furniture &amp; equipment</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_c20220331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_pp0p0" title="Property and equipment, at cost" style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="AsOf2022-03-31_us-gaap_FurnitureAndFixturesMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">70,960</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_c20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_pp0p0" title="Property and equipment, at cost" style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="AsOf2021-12-31_us-gaap_FurnitureAndFixturesMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">70,960</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total cost</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98F_eus-gaap--PropertyPlantAndEquipmentGross_c20220331_pp0p0" title="Property and equipment, at cost" style="text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">2,125,355</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20211231_zAqAR72s6hA2" title="Property and equipment, at cost" style="text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">2,121,910</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Accumulated depreciation</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td id="xdx_98B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20220331_zXIkALFVruD3" title="Accumulated depreciation" style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,582,820</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td>
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</ix:nonNumeric><p id="xdx_8AD_z0sjC57B6Dak" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span>&#160;</p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="sbev:ExciseTaxesPolicyTextBlock"><p id="xdx_846_ecustom--ExciseTaxesPolicyTextBlock_zINnxe2WjHNd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_86E_zC5N32d3vSnd" style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Excise
                                            taxes</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company pays alcohol excise taxes based on product sales to both the Oregon Liquor Control Commission and to the U.S. Department of the
Treasury, Alcohol and Tobacco Tax and Trade Bureau (TTB). The Company is liable for the taxes upon the removal of product from the Company&#8217;s
warehouse on a per gallon basis. The federal tax rate is affected by a small winery tax credit provision which decreases based upon the
number of gallons of wine production in a year rather than the quantity sold.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:exclude><p id="xdx_239_zx83vRZx4fe4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 11; Value: 1 -->
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<ix:exclude><p id="xdx_237_zsYaQQuyLx41" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_23B_zTQHKl347Jw5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
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<ix:exclude><p id="xdx_235_zH1YFKU0QCfg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
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<ix:exclude><p id="xdx_23E_zVqMTXOGEEt4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23C_z19aXgNO6eOd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
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<ix:exclude><p id="xdx_233_zKQsUOBiI3uh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:FinancialInstrumentsDisclosureTextBlock"><p id="xdx_842_eus-gaap--FinancialInstrumentsDisclosureTextBlock_zyDKsAxVnAZ4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_865_zR94w3AWLQK9" style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Fair
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial
Accounting Standards (&#8220;FASB&#8221;) guidance specifies a hierarchy of valuation techniques based on whether the inputs to those
valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable
inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical
assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of
the fair value hierarchy are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="padding: 0pt; width: 5%; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; width: 8%; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
1 -</span></td>
<td style="padding: 0pt; width: 87%; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unadjusted
quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement
date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments
and listed equities.</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 -</span></td>
<td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inputs
other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g.,
quoted prices of similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in
markets that are not active).</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 - </span></td>
<td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unobservable
inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models,
discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable.</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
liabilities and indebtedness presented on the condensed consolidated financial statements approximate fair values at March 31, 2022 and
December 31, 2021, consistent with recent negotiations of notes payable and due to the short duration of maturities and market rates
of interest.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span>&#160;</p>

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<ix:exclude><p id="xdx_23A_zH33cbVnr4s4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><p id="xdx_23E_z5yNGILtrN83" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23C_z5x17TKU9coa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
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<ix:exclude><p id="xdx_232_zrml2iaIn8Q1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
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<ix:exclude><p id="xdx_23E_z5Mi6sQQArG6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_231_zjX6EAPJt76c" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p></ix:exclude>

<ix:exclude><p id="xdx_233_zD0v0EMagIFf" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt; text-align: justify; text-indent: -72pt"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
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<ix:exclude><p id="xdx_23D_zeGfpZVtHzB5" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt; text-align: justify; text-indent: -72pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span>&#160;</p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:RevenueRecognitionAllowances"><p id="xdx_842_eus-gaap--RevenueRecognitionAllowances_zTdPilm0QBi4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_868_zz6AFG5kNKIh" style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Revenue
                                            Recognition</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
recognize revenue under ASC 606, Revenue from Contracts with Customers (Topic 606). This guidance sets forth a five-step model which
depicts the recognition of revenue in an amount that reflects what we expect to receive in exchange for the transfer of goods or services
to customers.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
recognize revenue when our performance obligations under the terms of a contract with the customer are satisfied. Product sales occur
once control of our products is transferred upon delivery to the customer. Revenue is measured as the amount of consideration that we
expect to receive in exchange for transferring goods and is presented net of provisions for customer returns and allowances. The amount
of consideration we receive and revenue we recognize varies with changes in customer incentives we offer to our customers and their customers.
Sales taxes and other similar taxes are excluded from revenue.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distribution
expenses to transport our finished goods products, where applicable, and warehousing expense are accounted for within operating expenses.
Distribution expense is capitalized as part of inventory as the materials are received by our distillery, co-packer or internal/external
warehouse.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:CostOfSalesPolicyTextBlock"><p id="xdx_841_eus-gaap--CostOfSalesPolicyTextBlock_zQBlXmH8QfC5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_86E_zr34ZkzcQrm9" style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cost
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost
of goods sold include the costs of products, packaging, transportation, warehousing, and costs associated with valuation allowances for
expired, damaged or impaired inventory.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We account for stock-based compensation in accordance
with ASC 718,&#160;&#8220;<i>Compensation - Stock Compensation&#8221;</i>. Under the fair value recognition provisions, cost is measured
at the grant date based on the fair value of the award and is recognized as expense ratably over the requisite service period, which
is generally the award&#8217;s vesting period. We use the Black-Scholes option pricing model to determine the fair value of stock-based
awards. We early adopted ASU 2018-07, &#8220;Improvements to Nonemployee Share-Based Payment Accounting&#8221;, which aligns accounting
treatment for such awards to non-employees with the existing guidance on employee share-based compensation in ASC 718.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:IncomeTaxPolicyTextBlock"><p id="xdx_845_eus-gaap--IncomeTaxPolicyTextBlock_zbMdL8zYWrvj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_86C_zHg0MUWIJVgk" style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Income
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
use the liability method of accounting for income taxes as set forth in ASC 740,&#160;&#8220;<i>Income Taxes&#8221;</i>. Under the liability
method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and
liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. We record a valuation allowance
when it is not more likely than not that the deferred tax assets will be realized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Company
management assesses its income tax positions and records tax benefits for all years subject to examination based upon its evaluation
of the facts, circumstances and information available at the reporting date. In accordance with ASC 740-10, for those tax positions where
there is a greater than 50% likelihood that a tax benefit will be sustained, our policy is to record the largest amount of tax benefit
that is more likely than not to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant
information.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
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likelihood that a tax benefit will be sustained, no tax benefit will be recognized in the financial statements. Company management has
determined that there are no material uncertain tax positions at March 31, 2022 and December 31, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:exclude><p id="xdx_234_z8XZ7Rgqjwz2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

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<ix:exclude><p id="xdx_23A_zljzZOkxMGX4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_231_zTcjB6EVIza1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
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<ix:exclude><p id="xdx_23E_z4BcqJNhJm32" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p></ix:exclude>

<ix:exclude><p id="xdx_236_zNTkI4wuxNp9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
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<ix:exclude><p id="xdx_232_zF3VnZ9ioIe6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23B_zkHcgwMFdyx9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
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<ix:exclude><p id="xdx_23B_zfcbZfZxoyCi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:EarningsPerSharePolicyTextBlock"><p id="xdx_843_eus-gaap--EarningsPerSharePolicyTextBlock_za04NOKcAdyf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_865_zIwpmqNu7Ulg" style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Net
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding.
Warrants, stock options, and common stock issuable upon the conversion of the Company&#8217;s convertible debt or preferred stock (if
any), are not included in the computation if the effect would be anti-dilutive.</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span>&#160;</p>



<p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted
average number of shares outstanding for awards granted from 2021 to 2022 excludes&#160;anti-dilutive common stock equivalents, including
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<p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:AdvertisingCostsPolicyTextBlock"><p id="xdx_843_eus-gaap--AdvertisingCostsPolicyTextBlock_zJxutz6D5PH8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_865_zKiXuX77XXG7" style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Advertising</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
conduct advertising for the promotion of our products. In accordance with ASC 720-35, advertising costs are charged to operations when
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</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for the three-months ended March 31, 2022 and
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill
represents the excess of acquisition cost over the fair value of the net assets acquired and is not subject to amortization. The Company
reviews goodwill annually in the fourth quarter for impairment or when circumstances indicate carrying value may exceed the fair value.
This evaluation is performed at the reporting unit level. If a qualitative assessment indicates that it is more likely than not that
the fair value is less than carrying value, a quantitative analysis is completed using either the income or market approach, or a combination
of both. The income approach estimates fair value based on expected discounted future cash flows, while the market approach uses comparable
public companies and transactions to develop metrics to be applied to historical and expected future operating results.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Intangible assets consist of customer lists, brands
and license agreements acquired in the acquisition of CdV. The Company amortizes intangible assets with finite lives on a straight-line
basis over their estimated useful lives of 15 years.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;&#160;&#160;</p>

<ix:exclude><p id="xdx_236_z5iqQCtZmcAc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 14; Value: 1 -->
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<ix:exclude><p id="xdx_236_zqCZTEbJBWn8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_238_zwVmsJkQm0Xa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
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<ix:exclude><p id="xdx_237_zptVInRz0eR1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p></ix:exclude>

<ix:exclude><p id="xdx_237_zJjT3EnjsSb3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
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<ix:exclude><p id="xdx_236_zAHRbZivdDsg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23B_zK8qGZQNiPOa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
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<ix:exclude><p id="xdx_23C_zwgBO9C5bwQa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock"><p id="xdx_84A_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zM28fAYatj08" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_86D_zmdBzAUZw7sg" style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Long-lived
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company evaluates long-lived assets for impairment on an annual basis, when relocating or closing a facility, or when events or changes
in circumstances may indicate the carrying amount of the asset group, generally an individual warehouse, may not be fully recoverable.
For asset groups held and used, including warehouses to be relocated, the carrying value of the asset group is considered recoverable
when the estimated future undiscounted cash flows generated from the use and eventual disposition of the asset group exceed the respective
carrying value. In the event that the carrying value is not considered recoverable, an impairment loss is recognized for the asset group
to be held and used equal to the excess of the carrying value above the estimated fair value of the asset group. For asset groups classified
as held-for-sale (disposal group), the carrying value is compared to the disposal group&#8217;s fair value less costs to sell. The Company
estimates fair value by obtaining market appraisals from third party brokers or using other valuation techniques.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock"><p id="xdx_841_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zGHRuaXJXtrd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_861_zVBZaYaAkwu6" style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Recent
                                            Accounting Pronouncements</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
does not believe that any other recently issued, but not yet effective, accounting standards could have a material effect on the accompanying
financial statements. As new accounting pronouncements are issued, we will adopt those that are applicable under the circumstances.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:PriorPeriodReclassificationAdjustmentDescription"><p id="xdx_848_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zkZ5wUMPX2ib" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain prior period amounts have been reclassified
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<ix:exclude><p id="xdx_23B_zH2b8NIDncPd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

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<ix:exclude><p id="xdx_231_zHAfNJIJ3d3i" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_231_z0JoG0Dev0L4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
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<ix:exclude><p id="xdx_233_zOxwS8naAebd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:exclude><p id="xdx_238_zIaTNtOvqV5j" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p></ix:exclude>

</ix:nonNumeric></ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:ConvertibleDebtTableTextBlock"><p id="xdx_808_eus-gaap--ConvertibleDebtTableTextBlock_zgGKnnjfuU24" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:ScheduleOfDebtTableTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--ScheduleOfDebtTableTextBlock_z8oWj4bKt344" summary="xdx: Disclosure - Notes Payable, Related Party Notes Payable, Convertible Bridge Loans Payable, Revenue Financing Arrangements and Bridge Loan Payable (Details)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span id="xdx_8B4_zHDK29m4Rdif" style="display: none">Schedule of Notes payable</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
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    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Interest<br />
    Rate</td><td style="padding-bottom: 1pt; color: black; font-weight: bold">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: center">March 31, <br />
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    <td style="padding: 0pt 0pt 0pt 10pt; color: black; font-weight: bold; text-align: left; text-indent: -10pt">Notes Payable and Convertible
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; width: 52%; color: black; text-align: left; text-indent: -10pt">In March 2014, we entered into
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="padding: 0pt 0pt 0pt 10pt; color: black; text-align: left; text-indent: -10pt">In September 2021, we entered into a twelve-month
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="color: black; text-align: left">&#160;</td><td title="Total notes payable" style="color: black; text-align: right">&#160;</td><td style="color: black; text-align: left">&#160;</td><td style="color: black">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; color: black; text-align: left; text-indent: -10pt">In December 2020, we entered into a 56
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="padding: 0pt 0pt 0pt 10pt; color: black; text-align: left; text-indent: -10pt">In April 2021, we entered into a six-month
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; color: black; text-align: left; text-indent: -10pt">In April 2021, we entered into a six-month
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    <td style="color: black; text-align: left">&#160;</td><td id="xdx_986_eus-gaap--NotesPayable_c20211231__us-gaap--ShortTermDebtTypeAxis__custom--NotesPayables5Member_pp0p0" title="Total notes payable" style="color: black; text-align: right"><ix:nonFraction name="us-gaap:NotesPayable" contextRef="AsOf2021-12-31_custom_NotesPayables5Member" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">84,000</ix:nonFraction></td><td style="color: black; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; color: black; text-align: left; text-indent: -10pt">In May 2021, we entered into a six-month
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    The loan had an original maturity of October 2021 with principal and interest due at maturity. The loan was extended to August 2022.</td><td style="color: black">&#160;</td>
    <td style="color: black; text-align: left">&#160;</td><td style="color: black; text-align: right"><span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20220101__20220331__us-gaap--ShortTermDebtTypeAxis__custom--NotesPayables6Member_zbgjouDnddt7"><ix:nonFraction name="us-gaap:DebtInstrumentInterestRateDuringPeriod" contextRef="From2022-01-012022-03-31_custom_NotesPayables6Member" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">7</ix:nonFraction></span></td><td style="color: black; text-align: left">%</td><td style="color: black">&#160;</td>
    <td style="color: black; text-align: left">&#160;</td><td id="xdx_984_eus-gaap--NotesPayable_c20220331__us-gaap--ShortTermDebtTypeAxis__custom--NotesPayables6Member_pp0p0" title="Total notes payable" style="color: black; text-align: right"><ix:nonFraction name="us-gaap:NotesPayable" contextRef="AsOf2022-03-31_custom_NotesPayables6Member" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">50,000</ix:nonFraction></td><td style="color: black; text-align: left">&#160;</td><td style="color: black">&#160;</td>
    <td style="color: black; text-align: left">&#160;</td><td id="xdx_987_eus-gaap--NotesPayable_c20211231__us-gaap--ShortTermDebtTypeAxis__custom--NotesPayables6Member_pp0p0" title="Total notes payable" style="color: black; text-align: right"><ix:nonFraction name="us-gaap:NotesPayable" contextRef="AsOf2021-12-31_custom_NotesPayables6Member" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">50,000</ix:nonFraction></td><td style="color: black; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; color: black; text-align: left; text-indent: -10pt">In May 2021, we entered into a six-month
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    The loan had an original maturity of October 2021 with principal and interest due at maturity. The principal and interest was converted
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    <td style="color: black; text-align: left">&#160;</td><td style="color: black; text-align: right"><span id="xdx_901_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20220101__20220331__us-gaap--ShortTermDebtTypeAxis__custom--NotesPayables7Member_zg9nOeS91L8j"><ix:nonFraction name="us-gaap:DebtInstrumentInterestRateDuringPeriod" contextRef="From2022-01-012022-03-31_custom_NotesPayables7Member" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">7</ix:nonFraction></span></td><td style="color: black; text-align: left">%</td><td style="color: black">&#160;</td>
    <td style="color: black; text-align: left">&#160;</td><td id="xdx_989_eus-gaap--NotesPayable_iI_pp0p0_c20220331__us-gaap--ShortTermDebtTypeAxis__custom--NotesPayables7Member_z8N9rL4fActa" title="Total notes payable" style="color: black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0626">&#8212;</span></td><td style="color: black; text-align: left">&#160;</td><td style="color: black">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; color: black; text-align: left; text-indent: -10pt">In May 2021, we entered into a six-month
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    The loan had an original maturity of October 2021 with principal and interest due at maturity. The loan was extended to August 2022.</td><td style="color: black">&#160;</td>
    <td style="color: black; text-align: left">&#160;</td><td style="color: black; text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20220101__20220331__us-gaap--ShortTermDebtTypeAxis__custom--NotesPayables8Member_zyYQsQk2i63j"><ix:nonFraction name="us-gaap:DebtInstrumentInterestRateDuringPeriod" contextRef="From2022-01-012022-03-31_custom_NotesPayables8Member" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">7</ix:nonFraction></span></td><td style="color: black; text-align: left">%</td><td style="color: black">&#160;</td>
    <td style="color: black; text-align: left">&#160;</td><td id="xdx_982_eus-gaap--NotesPayable_c20220331__us-gaap--ShortTermDebtTypeAxis__custom--NotesPayables8Member_pp0p0" title="Total notes payable" style="color: black; text-align: right"><ix:nonFraction name="us-gaap:NotesPayable" contextRef="AsOf2022-03-31_custom_NotesPayables8Member" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">10,000</ix:nonFraction></td><td style="color: black; text-align: left">&#160;</td><td style="color: black">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td style="color: black; padding-bottom: 1pt">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td style="color: black; padding-bottom: 2.5pt">&#160;</td>
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</ix:nonNumeric><p id="xdx_8A6_zMNdFN5i3vOd" style="margin: 0">&#160;</p>

<p style="margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:exclude><p id="xdx_238_zPYxvZwit5Di" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 16; Value: 1 -->
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<ix:exclude><p id="xdx_236_zRZQlY6Ky68" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_23D_zMmtaI9X07c4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
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<ix:exclude><p id="xdx_23E_zF8BVD5endW8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
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<ix:exclude><p id="xdx_23D_zeU6eKMqguqh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23E_zdHBtjE0KxVb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
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<ix:exclude><p id="xdx_237_zxn9PzrGhwt5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

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<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span id="xdx_8B1_za1BZjkH9wO8" style="display: none">&#160;Schedule of Related Party Notes Payable</span></td>
<td>&#160;</td>
<td style="text-align: right">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 1pt 10pt; text-align: center">&#160;</td>
<td style="padding-bottom: 1pt; text-align: center; color: black; font-weight: bold">&#160;</td>
<td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; color: black; font-weight: bold; text-align: center">Interest&#160;Rate</td>
<td style="padding-bottom: 1pt; text-align: center; color: black; font-weight: bold">&#160;</td>
<td colspan="3" style="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: center">March 31, 2022</td>
<td style="padding-bottom: 1pt; text-align: center; color: black; font-weight: bold">&#160;</td>
<td colspan="3" style="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: center"><b>December</b> 31,
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-decoration: underline; color: black; font-weight: bold; text-align: left; text-indent: -10pt">Related Parties Notes Payable</td>
<td>&#160;</td>
<td style="text-align: right">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td>
<td>&#160;</td>
<td style="text-align: right">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; width: 54%; color: black; text-align: left; text-indent: -10pt">In December 2020, we entered into an 18 month loan with an individual in the amount of $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_c20220331__us-gaap--ShortTermDebtTypeAxis__custom--RelatedPartiesNotesPayable1Member_pp0p0"><ix:nonFraction name="us-gaap:DebtInstrumentFaceAmount" contextRef="AsOf2022-03-31_custom_RelatedPartiesNotesPayable1Member" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">2,000,000</ix:nonFraction></span>. The loan requires 18 monthly amortized payments of principal and interest in the amount of $<span id="xdx_901_eus-gaap--DebtInstrumentPeriodicPayment_c20220101__20220331__us-gaap--ShortTermDebtTypeAxis__custom--RelatedPartiesNotesPayable1Member_pp0p0"><ix:nonFraction name="us-gaap:DebtInstrumentPeriodicPayment" contextRef="From2022-01-012022-03-31_custom_RelatedPartiesNotesPayable1Member" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">114,444</ix:nonFraction> </span>with the final payment due June 2022.</td>
<td style="width: 3%; color: black; padding-bottom: 1pt">&#160;</td>
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<td style="width: 3%; color: black; padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; width: 1%; color: black; text-align: left">&#160;</td>
<td id="xdx_98B_eus-gaap--NotesAndLoansPayableCurrent_iI_pp0p0_c20220331__us-gaap--ShortTermDebtTypeAxis__custom--RelatedPartiesNotesPayable1Member_zkE8T4Fo3cH6" title="Related Parties Notes Payable" style="border-bottom: Black 1pt solid; width: 11%; color: black; text-align: right"><ix:nonFraction name="us-gaap:NotesAndLoansPayableCurrent" contextRef="AsOf2022-03-31_custom_RelatedPartiesNotesPayable1Member" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">312,351</ix:nonFraction></td>
<td style="width: 1%; padding-bottom: 1pt; color: black; text-align: left">&#160;</td>
<td style="width: 3%; color: black; padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; width: 1%; color: black; text-align: left">&#160;</td>
<td id="xdx_98D_eus-gaap--NotesAndLoansPayableCurrent_iI_pp0p0_c20211231__us-gaap--ShortTermDebtTypeAxis__custom--RelatedPartiesNotesPayable1Member_zh4iOzTCSxU3" title="Related Parties Notes Payable" style="border-bottom: Black 1pt solid; width: 11%; color: black; text-align: right"><ix:nonFraction name="us-gaap:NotesAndLoansPayableCurrent" contextRef="AsOf2021-12-31_custom_RelatedPartiesNotesPayable1Member" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">653,081</ix:nonFraction></td>
<td style="width: 1%; padding-bottom: 1pt; color: black; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td>
<td>&#160;</td>
<td style="text-align: right">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td>
<td>&#160;</td>
<td style="text-align: right">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td>
<td style="color: black; padding-bottom: 1pt">&#160;</td>
<td style="color: black; text-align: right; padding-bottom: 1pt">Less current portion</td>
<td style="color: black; padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; color: black; text-align: left">&#160;</td>
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<td style="padding-bottom: 1pt; color: black; text-align: left">)</td>
<td style="color: black; padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; color: black; text-align: left">&#160;</td>
<td id="xdx_98A_ecustom--RelatedPartiesNotesPayableClassifiedCurrent_iNI_pp0p0_di_c20211231_zzt6iYhNnhKi" title="Less current portion" style="border-bottom: Black 1pt solid; color: black; text-align: right">(<ix:nonFraction name="sbev:RelatedPartiesNotesPayableClassifiedCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">653,081</ix:nonFraction></td>
<td style="padding-bottom: 1pt; color: black; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td>
<td>&#160;</td>
<td style="text-align: right">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td>
<td>&#160;</td>
<td style="text-align: left">&#160;</td>
<td style="text-align: right">&#160;</td>
<td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td>
<td style="color: black; padding-bottom: 2.5pt">&#160;</td>
<td style="color: black; text-align: right; padding-bottom: 2.5pt">Long-term notes payable</td>
<td style="color: black; padding-bottom: 2.5pt">&#160;</td>
<td style="border-bottom: Black 2.5pt double; color: black; text-align: left">$</td>
<td id="xdx_98E_ecustom--NotesPayableRelatedPartiesNoncurrents_iI_pp0p0_c20220331_zAatdgazAzWk" title="Long-term notes payable" style="border-bottom: Black 2.5pt double; color: black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0683">&#8212;</span></td>
<td style="padding-bottom: 2.5pt; color: black; text-align: left">&#160;</td>
<td style="color: black; padding-bottom: 2.5pt">&#160;</td>
<td style="border-bottom: Black 2.5pt double; color: black; text-align: left">$</td>
<td id="xdx_989_ecustom--NotesPayableRelatedPartiesNoncurrents_iI_pp0p0_c20211231_z1N1KmzjsR98" title="Long-term notes payable" style="border-bottom: Black 2.5pt double; color: black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0685">&#8212;</span></td>
<td style="padding-bottom: 2.5pt; color: black; text-align: left">&#160;</td></tr>
</table>


</ix:nonNumeric><p id="xdx_8A9_z84HsW1RYP72" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
expense on related party notes payable was $<span id="xdx_90F_eus-gaap--InterestExpenseDebt_c20220101__20220331__us-gaap--ShortTermDebtTypeAxis__custom--RelatedPartiesNotesPayableMember_pp0p0"><ix:nonFraction name="us-gaap:InterestExpenseDebt" contextRef="From2022-01-012022-03-31_custom_RelatedPartiesNotesPayableMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">2,602</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_90D_eus-gaap--InterestExpenseDebt_c20210101__20210331__us-gaap--ShortTermDebtTypeAxis__custom--RelatedPartiesNotesPayableMember_pp0p0"><ix:nonFraction name="us-gaap:InterestExpenseDebt" contextRef="From2021-01-012021-03-31_custom_RelatedPartiesNotesPayableMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">0</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for the three months ended March 31, 2022 and
2021, respectively. Accrued interest was $<span id="xdx_90E_eus-gaap--InterestPayableCurrent_iI_pp0p0_c20220331__us-gaap--ShortTermDebtTypeAxis__custom--RelatedPartiesNotesPayableMember_z6MDZA196zTa"><ix:nonFraction name="us-gaap:InterestPayableCurrent" contextRef="AsOf2022-03-31_custom_RelatedPartiesNotesPayableMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">0</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">as of March 31, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<ix:exclude><p id="xdx_234_z9qlMSEfPcXl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 17; Value: 1 -->
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<ix:exclude><p id="xdx_23C_zOwl3yKQOV5f" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><p id="xdx_23D_z2HkODS347Ca" style="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_233_zjUjYtBAnUag" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
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<ix:exclude><p id="xdx_23B_zQuWJT1Ekh8a" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
            to the Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:exclude><p id="xdx_23B_zH8Df5jaeKh2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="sbev:LicensingAgreementAndRoyaltyPayableTextBlock"><p id="xdx_805_ecustom--LicensingAgreementAndRoyaltyPayableTextBlock_z14jgxFd0ti" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
                                            4 &#8211; <span id="xdx_82F_zdgHhD3aPsn2">Licensing Agreement and Royalty Payable</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have a licensing agreement with ABG TapouT, LLC
(&#8220;TapouT&#8221;), providing us with licensing rights to the brand &#8220;TapouT&#8221; on energy drinks, energy shots, water, teas
and sports drinks for beverages sold in the United States of America, its territories, possessions, U.S. military bases and Mexico. Under
the terms of the agreement, we are required to pay a 6% royalty on net sales, as defined. We are required to make minimum monthly payments
of $<span id="xdx_907_eus-gaap--PaymentsForFees_c20220101__20220331_zYVcB1zsmVp5"><ix:nonFraction name="us-gaap:PaymentsForFees" contextRef="From2022-01-01to2022-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">54,450</ix:nonFraction>
</span>in 2022 and $<span id="xdx_90D_eus-gaap--PaymentsForFees_c20210101__20210331_zNf47i5J5Vic"><ix:nonFraction name="us-gaap:PaymentsForFees" contextRef="From2021-01-012021-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">49,500</ix:nonFraction>
</span>in 2021.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
were no unpaid royalties at March 31, 2022. We paid the guaranteed minimum royalty payments of $<span id="xdx_90A_eus-gaap--PaymentsForRoyalties_pp0p0_c20220101__20220331_zTUU2eeAoIta"><ix:nonFraction name="us-gaap:PaymentsForRoyalties" contextRef="From2022-01-01to2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">163,350</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_90B_eus-gaap--PaymentsForRoyalties_c20210101__20210331_pp0p0"><ix:nonFraction name="us-gaap:PaymentsForRoyalties" contextRef="From2021-01-012021-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">148,500</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for the three-months ended March 31, 2022 and
2021, which is included in general and administrative expenses.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
                                            connection with the Copa APA, we acquired the license to certain patents from 1/4 Vin SARL
                                            (&#8220;1/4 Vin&#8221;) On February 16, 2018, the CdV entered into three separate license
                                            agreements with 1/4 Vin SARL, (1/4 Vin). 1/4 Vin has the right to license certain patents
                                            and patent applications relating to inventions, systems, and methods used in our manufacturing
                                            process. In exchange for notes payable, 1/4 Vin granted us a nonexclusive, royalty-bearing,
                                            non-assignable, nontransferable, terminable license which would continue until the subject
                                            equipment is no longer in service or the patents expire. Amortization is approximately $31,000
                                            annually until the license agreement is fully amortized. The asset is being amortized over
                                            a <span id="xdx_907_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20220101__20220331_zMk5Y9qtEUl1"><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" format="ixt-sec:duryear" name="us-gaap:AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife">10</ix:nonNumeric></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-year
                                            useful life.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:StockholdersEquityNoteDisclosureTextBlock"><p id="xdx_806_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_z38Zb3O2eONk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
                                            5&#8211; <span id="xdx_827_zMzzkY0O2MR5">Stockholders&#8217; Equity </span></b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Common
Stock</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
March 31, 2021, we issued <span id="xdx_90D_ecustom--StockIssuedInExchangeForServicesShares_c20210101__20210331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_pdd"><ix:nonFraction name="sbev:StockIssuedInExchangeForServicesShares" contextRef="From2021-01-012021-03-31_us-gaap_CommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">168,333</ix:nonFraction> </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares
of common stock in exchange for services provided to us. At September 30, 2021, we issued <span id="xdx_906_ecustom--StockIssuedInExchangeForServicesShares_c20210101__20210930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_pdd"><ix:nonFraction name="sbev:StockIssuedInExchangeForServicesShares" contextRef="From2021-01-012021-09-30_us-gaap_CommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,136,819</ix:nonFraction> </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares
of common stock in exchange for services provided to us. At December 31, 2021, we issued <span id="xdx_90D_ecustom--StockIssuedInExchangeForServicesShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_pdd"><ix:nonFraction name="sbev:StockIssuedInExchangeForServicesShares" contextRef="From2021-01-012021-12-31_us-gaap_CommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">977,497</ix:nonFraction> </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares
of common stock in exchange for services provided to us. At March 31, 2022, we issued <span id="xdx_903_ecustom--StockIssuedInExchangeForServicesShares_c20220101__20220331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zmapCJKaktzj" title="Stock issued in exchange for services shares"><ix:nonFraction name="sbev:StockIssuedInExchangeForServicesShares" contextRef="From2022-01-012022-03-31_us-gaap_CommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">550,000</ix:nonFraction> </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares
of common stock in exchange for services, and <span id="xdx_905_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20220101__20220331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zuAD6xEv8ab7" title="Number of shares converted"><ix:nonFraction name="us-gaap:DebtConversionConvertedInstrumentSharesIssued1" contextRef="From2022-01-012022-03-31_us-gaap_CommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,300,000</ix:nonFraction></span> as part of our S3 drawdown and convertible instruments. For the
three-month-ended March 31, 2022 the shares were valued at a fair market value stock price based on the agreement date. We
recognized share-based compensation expense for the three-months ended March 31, 2022 of $<span id="xdx_909_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20220101__20220331__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zY2siXRIcML5"><ix:nonFraction name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="From2022-01-012022-03-31_us-gaap_GeneralAndAdministrativeExpenseMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">2,355,542</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">,
which is classified within the other general and administrative line on our Condensed Consolidated Statements of
Operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Private
Placement Memorandum (PPM)</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
January 2021, the Board of Directors approved a private placement offering of <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220101__20220331__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_pdd"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-01-012022-03-31_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,212,121</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of the common stock of the Company, $<span id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20210131__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zOdGI6FXv2Fb"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2021-01-31_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.001</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">value per share at a purchase price of $<span id="xdx_901_eus-gaap--SaleOfStockPricePerShare_iI_c20210131__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zyqHKwmBNyef"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-01-31_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.30</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per share for aggregate gross proceeds of $<span id="xdx_900_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pp0p0_c20220101__20220331__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zSwQ2TnycjCl"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOrSaleOfEquity" contextRef="From2022-01-012022-03-31_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">4,000,000</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(&#8220;PPM&#8221;). As part of the PPM, each
purchaser&#160;received a warrant to purchase one share for every two shares purchased. In February 2021, we completed our PPM by issuing
a total of <span id="xdx_90A_ecustom--SaleOfStockInPrivatePlacement_c20210201__20210228__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zla66NFrbydc" title="Number of shares sale"><ix:nonFraction name="sbev:SaleOfStockInPrivatePlacement" contextRef="From2021-02-012021-02-28_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,212,355</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of shares and <span id="xdx_90B_ecustom--WarrantsReceived_iI_c20210228_zkbmtunIJTAk" title="Warrants recevied"><ix:nonFraction name="sbev:WarrantsReceived" contextRef="AsOf2021-02-28" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">606,178</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">warrants receiving gross proceeds of&#160;approximately
$<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pp0p0_c20210201__20210228__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zRSN86yHVxM2"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfPrivatePlacement" contextRef="From2021-02-012021-02-28_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">4,000,000</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:exclude><p id="xdx_230_z92EwaTtgox6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 18; Value: 1 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence -->&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_236_z17yBQ79gYA4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><ix:exclude><p id="xdx_23B_zfDioWSjs5Xe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
                                            Beverage Group, Inc.</b>&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_237_zAfuKOxO2oa4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
            to the Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_237_zNUeXfxRYdzc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_234_zKeskHggh8Pb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
            5 &#8211; Stockholders&#8217; Equity, continued</b></span></p></ix:exclude>


<ix:exclude><p id="xdx_237_zRq7ETWsNH6f" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Stock
Plans</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2020
Plan</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 2020, the Board adopted the 2020 Stock Incentive
Plan (the &#8220;2020 Plan&#8221;), which provides for the grant of Options, Restricted Stock Awards, Stock Appreciation Rights, Performance
Units and Performance Bonuses to consultants and eligible recipients. The total number of shares that may be issued under the 2020 plan
was <span id="xdx_904_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_c20220331__us-gaap--PlanNameAxis__custom--N2020PlanMember_pdd" title="Common Stock, Capital Shares Reserved for Future Issuance"><ix:nonFraction name="us-gaap:CommonStockCapitalSharesReservedForFutureIssuance" contextRef="AsOf2022-03-31_custom_N2020PlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,313,133</ix:nonFraction></span> at the time the 2020 plan was adopted</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The 2020 Plan has an &#8220;EVERGREEN&#8221; feature,
which provides for the annual increase in the number of shares issuable under the plan by an amount equal to 5% of the number of issued
and outstanding common shares at year end, unless otherwise adjusted by the board. At January 1, 2021 AND 2022, the number of shares issuable
under the 2020 plan increased by <span id="xdx_90F_ecustom--NumberOfOptionsGranted_c20210101__20210131__us-gaap--PlanNameAxis__custom--N2020PlanMember_z7ILjBwIjC0e" title="Number of options granted"><ix:nonFraction name="sbev:NumberOfOptionsGranted" contextRef="From2021-01-012021-01-31_custom_N2020PlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,057,852</ix:nonFraction></span> and <span id="xdx_901_ecustom--OptionRemaining_c20220101__20220131__us-gaap--PlanNameAxis__custom--N2020PlanMember_zSsfkmpaEjDl" title="Option remaining"><ix:nonFraction name="sbev:OptionRemaining" contextRef="From2022-01-012022-01-31_custom_N2020PlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,679,812</ix:nonFraction></span> shares, respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three-month period ended March 31, 2022,
the company granted <span id="xdx_90C_ecustom--NumberOfOptionsGranted_c20220101__20220331__us-gaap--PlanNameAxis__custom--N2020PlanMember_pdd" title="Number of options granted"><ix:nonFraction name="sbev:NumberOfOptionsGranted" contextRef="From2022-01-012022-03-31_custom_N2020PlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">773,596</ix:nonFraction></span> shares under the 2020 plan. At March 31, 2022, the total number of awards that may be issued under the 2020
plan was <span id="xdx_90A_ecustom--OptionRemaining_c20220101__20220331__us-gaap--PlanNameAxis__custom--N2020PlanMember_pdd" title="Option remaining"><ix:nonFraction name="sbev:OptionRemaining" contextRef="From2022-01-012022-03-31_custom_N2020PlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,123,703</ix:nonFraction></span>.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The fair value of stock options recognized in the
period has been estimated using the Black-Scholes option pricing model.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The company did not grant any new options, warrants,
or shares in Q1 2022 that would fall under the 2020 plan.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>



<ix:exclude><p id="xdx_23A_zN752nNl7eK" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<ix:exclude><p id="xdx_23F_zbajlFPJPume" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shareholder
Advances and Liability to Issue Stock and Warrants</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">We have various agreements
with consultants in the amount of 0.5 million shares to be issued by in Q2 2022. The stock price will be valued </span><span style="font-size: 8pt">&#160;&#160;</span><span style="font-size: 10pt">using
the 10-day average price of the company&#8217;s stock from the issuance date. As part of our private placement memoranda, we owe an investor
33,333 shares at $3.30 of the Company&#8217;s common stock which will be issued in Q2 2022.&#160;</span></p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span>&#160;</p>

<ix:exclude><p id="xdx_23C_zabv4q3nFDy8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>



<ix:exclude><p id="xdx_23E_zK4cTDAcBRr1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:RelatedPartyTransactionsDisclosureTextBlock"><p id="xdx_802_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zgFfTNxuEx7i" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
                                            6 &#8211; <span id="xdx_82A_zXmnsqr4Ngv8">Related Parties</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
are related party notes payable of $<span id="xdx_902_eus-gaap--NotesPayableRelatedPartiesCurrentAndNoncurrent_iI_pp0n3_dm_c20220331__us-gaap--ShortTermDebtTypeAxis__custom--RelatedPartiesNotesPayableMember_zHB6mPApadaf"><ix:nonFraction name="us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent" contextRef="AsOf2022-03-31_custom_RelatedPartiesNotesPayableMember" format="ixt:numdotdecimal" decimals="0" scale="6" unitRef="USD">0.3</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_90B_eus-gaap--NotesPayableRelatedPartiesCurrentAndNoncurrent_iI_pp0n3_dm_c20211231__us-gaap--ShortTermDebtTypeAxis__custom--RelatedPartiesNotesPayableMember_z5DVpcuPHhYb"><ix:nonFraction name="us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent" contextRef="AsOf2021-12-31_custom_RelatedPartiesNotesPayableMember" format="ixt:numdotdecimal" decimals="0" scale="6" unitRef="USD">0.7</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million outstanding as of March 31, 2022 and
December 31,2021, respectively.&#160;See note 3.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:InvestmentTextBlock"><p id="xdx_80A_eus-gaap--InvestmentTextBlock_zumxQxNAPZ86" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
                                            7 &#8211; <span id="xdx_827_zfFYnIH7FTAe">Investment in Salt Tequila USA, LLC</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have a marketing and distribution agreement with
SALT Tequila USA, LLC (&#8220;SALT&#8221;) for the manufacturing of our Tequila product line in Mexico.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have  <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
<span id="xdx_903_eus-gaap--InvestmentInterestRate_iI_dp_c20220331__srt--OwnershipAxis__custom--SALTTequilaUSALLCMember_zUO6AYzYvDTd"><ix:nonFraction name="us-gaap:InvestmentInterestRate" contextRef="AsOf2022-03-31_custom_SALTTequilaUSALLCMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">22.5</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%
percentage ownership interest in SALT, have the right to increase our ownership to <span id="xdx_90A_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_dp_c20220331__srt--OwnershipAxis__custom--SALTTequilaUSALLCMember_zbt3NtJq7Zt"><ix:nonFraction name="us-gaap:MinorityInterestOwnershipPercentageByParent" contextRef="AsOf2022-03-31_custom_SALTTequilaUSALLCMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">37.5</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%.
This investment is accounted for at cost, due to our inability to exercise significant influence over the assets and operations</span>.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:exclude><p id="xdx_234_zUu8sCgzJNAf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 19; Value: 1 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence -->&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_23A_z6YOh6xCltlf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_23A_zwj5LuV5hhpi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
            Beverage Group, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_236_zKolOhqJbySc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
            to the Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_235_zasYSxqOpDz5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:LesseeOperatingLeasesTextBlock"><p id="xdx_804_eus-gaap--LesseeOperatingLeasesTextBlock_zsrZTr3nBfG8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
                                            8 &#8211; <span id="xdx_825_zB730Ak8yua5">Operating Lease Obligations</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
July 2018, we entered into a lease agreement for the right to use and occupy office space. The lease term commenced <span id="xdx_90A_ecustom--LeaseCommencementDate_dd_c20220101__20220331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--FirstLeaseMember_z9n6rICb13N" title="Lease commencement date"><ix:nonNumeric contextRef="From2022-01-012022-03-31_custom_FirstLeaseMember" format="ixt:datemonthdayyearen" name="sbev:LeaseCommencementDate">July
1, 2018</ix:nonNumeric></span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and is scheduled to expire
after <span id="xdx_90A_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtM_c20220331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--FirstLeaseMember_zRGaQ9s6kA15"><ix:nonNumeric contextRef="AsOf2022-03-31_custom_FirstLeaseMember" format="ixt-sec:durmonth" name="us-gaap:OperatingLeaseWeightedAverageRemainingLeaseTerm1">36</ix:nonNumeric>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">months, on <span id="xdx_90E_eus-gaap--LeaseExpirationDate1_dd_c20220101__20220331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--FirstLeaseMember_zQrTkrKPdmOd"><ix:nonNumeric contextRef="From2022-01-012022-03-31_custom_FirstLeaseMember" format="ixt:datemonthdayyearen" name="us-gaap:LeaseExpirationDate1">June
30, 2021</ix:nonNumeric></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. In July 2021, we executed
a two-year renewal at the same monthly amount.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
November 2019, we entered into a new lease with Interport Logistics, LLC. The lease term commenced on <span id="xdx_90D_ecustom--LeaseCommencementDate_dd_c20220101__20220331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--ThirdLeaseMember_z6FQKqOsYnjk" title="Lease commencement date"><ix:nonNumeric contextRef="From2022-01-012022-03-31_custom_ThirdLeaseMember" format="ixt:datemonthdayyearen" name="sbev:LeaseCommencementDate">November
11, 2019</ix:nonNumeric></span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and is scheduled to expire
on <span id="xdx_90C_eus-gaap--LeaseExpirationDate1_dd_c20220101__20220331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--ThirdLeaseMember_zrOKwngNjeG6"><ix:nonNumeric contextRef="From2022-01-012022-03-31_custom_ThirdLeaseMember" format="ixt:datemonthdayyearen" name="us-gaap:LeaseExpirationDate1">November
11, 2022</ix:nonNumeric></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
May 2019, we entered into a new lease in Mexico. The lease commenced <span id="xdx_907_ecustom--LeaseCommencementDate_dd_c20220101__20220331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--FourthLeaseMember_zjfXSUzP5eI3" title="Lease commencement date"><ix:nonNumeric contextRef="From2022-01-012022-03-31_custom_FourthLeaseMember" format="ixt:datemonthdayyearen" name="sbev:LeaseCommencementDate">May
1, 2019</ix:nonNumeric></span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and is scheduled to expire
after 24 months, on April 1, 2021. Our new <span id="xdx_90F_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20220331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--FourthLeaseMember_z2D1firhXQqf"><ix:nonNumeric contextRef="AsOf2022-03-31_custom_FourthLeaseMember" format="ixt-sec:duryear" name="us-gaap:OperatingLeaseWeightedAverageRemainingLeaseTerm1">1</ix:nonNumeric>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">year lease agreement is renewed annually.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
January 2021, we entered into a lease agreement for the right to use and occupy office space. The lease term commenced <span id="xdx_903_ecustom--LeaseCommencementDate_dd_c20220101__20220331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--FifthLeaseMember_z5eYJaPCXIb1" title="Lease commencement date"><ix:nonNumeric contextRef="From2022-01-012022-03-31_custom_FifthLeaseMember" format="ixt:datemonthdayyearen" name="sbev:LeaseCommencementDate">January
18, 2021</ix:nonNumeric></span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and is scheduled to expire
after <span id="xdx_90D_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtM_c20220331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--FifthLeaseMember_z4OgIPvSBsZe"><ix:nonNumeric contextRef="AsOf2022-03-31_custom_FifthLeaseMember" format="ixt-sec:durmonth" name="us-gaap:OperatingLeaseWeightedAverageRemainingLeaseTerm1">18</ix:nonNumeric>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">months, on <span id="xdx_908_eus-gaap--LeaseExpirationDate1_dd_c20220101__20220331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--FifthLeaseMember_zDQUeL1TYrHk"><ix:nonNumeric contextRef="From2022-01-012022-03-31_custom_FifthLeaseMember" format="ixt:datemonthdayyearen" name="us-gaap:LeaseExpirationDate1">July
31, 2022</ix:nonNumeric></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
January 2021, we entered into a lease agreement for the right to use and occupy office and manufacturing space. The lease term commenced
<span id="xdx_908_ecustom--LeaseCommencementDate_dd_c20220101__20220331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--SixthLeaseMember_zCMBMPAvugKf" title="Lease commencement date"><ix:nonNumeric contextRef="From2022-01-012022-03-31_custom_SixthLeaseMember" format="ixt:datemonthdayyearen" name="sbev:LeaseCommencementDate">January
1, 2021</ix:nonNumeric></span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and is scheduled to expire
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</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">months, on <span id="xdx_90D_eus-gaap--LeaseExpirationDate1_dd_c20220101__20220331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--SixthLeaseMember_zhCfbw26Isy9"><ix:nonNumeric contextRef="From2022-01-012022-03-31_custom_SixthLeaseMember" format="ixt:datemonthdayyearen" name="us-gaap:LeaseExpirationDate1">December
31, 2025</ix:nonNumeric></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table presents the discounted present value of minimum lease payments for our office and warehouses to the amounts reported
as financial lease liabilities on the condensed consolidated balance sheet at March 31, 2022:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:LesseeOperatingLeaseLiabilityMaturityTableTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_898_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_z4zmX5GEGVL4" summary="xdx: Disclosure - Operating Lease Obligations (Details)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8BB_zoQpeely88p8" style="display: none">Schedule of maturities
    of lease liabilities</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_49D_20220331_zyT92VpRpI3e" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; padding: 0pt 0pt 0pt 10pt; font-weight: bold; text-align: left; text-indent: -10pt">Undiscounted
    Future Minimum Lease Payments</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating Lease</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td colspan="3" style="text-align: center">&#160;</td></tr>
  <tr id="xdx_40A_eus-gaap--OperatingLeasesFutureMinimumPaymentsDueCurrent_iI_pp0p0_maOLFMPzGuH_zvyryfPlo9m7" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; width: 70%; text-align: left; text-indent: -10pt">2022 (Nine months remaining)</td><td style="width: 10%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 18%; text-align: right"><ix:nonFraction name="us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">252,723</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr id="xdx_403_eus-gaap--OperatingLeasesFutureMinimumPaymentsDueInTwoYears_iI_pp0p0_maOLFMPzGuH_zG5bUgrggske" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2023</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:OperatingLeasesFutureMinimumPaymentsDueInTwoYears" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">279,790</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_400_eus-gaap--OperatingLeasesFutureMinimumPaymentsDueInThreeYears_iI_pp0p0_maOLFMPzGuH_zX56jVEVLpd3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2024</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:OperatingLeasesFutureMinimumPaymentsDueInThreeYears" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">252,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40E_eus-gaap--OperatingLeasesFutureMinimumPaymentsDueInFourYears_iI_pp0p0_maOLFMPzGuH_ziCMXyaMOPkk" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2025</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFourYears" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">252,000</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_404_eus-gaap--OperatingLeasesFutureMinimumPaymentsDue_iTI_pp0p0_mtOLFMPzGuH_z4XELUhmZ0Nk" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Total</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:OperatingLeasesFutureMinimumPaymentsDue" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,036,513</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pp0p0_di_zZxINf46mrld" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Amount representing imputed interest</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="us-gaap:LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">83,448</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
  <tr id="xdx_40F_eus-gaap--OperatingLeaseLiability_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total operating lease liability</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseLiability" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">953,065</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40D_ecustom--CurrentPortionOfOperatingLeaseLiability_iI_pp0p0" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Current portion of operating lease liability</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="sbev:CurrentPortionOfOperatingLeaseLiability" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">284,372</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_405_ecustom--OperatingLeaseLiabilitiesNoncurrent_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Operating lease liability, non-current</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="sbev:OperatingLeaseLiabilitiesNoncurrent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">668,693</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>




</ix:nonNumeric><p id="xdx_8AB_z04P1w0xCaAd" style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
table below presents information for lease costs related to our operating leases at March 31, 2022:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:LeaseCostTableTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_890_eus-gaap--LeaseCostTableTextBlock_zLaJBXtO3ylf" summary="xdx: Disclosure - Operating Lease Obligations (Details 1)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 20pt; text-align: left; text-indent: -10pt"><span id="xdx_8BE_zVWfyKJqMtCd">Schedule
    of lease costs</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_49B_20220101__20220331_zv1TlxnhHg46" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40E_eus-gaap--LeaseCostAbstract_iB" style="vertical-align: bottom">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Operating lease cost:</td><td>&#160;</td>
    <td colspan="3" style="text-align: center">&#160;</td></tr>
  <tr id="xdx_40B_eus-gaap--AmortizationOfLeasedAsset_i01_pp0p0_maOLCz1AC_zqZpzLEYPJ47" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 20pt; width: 70%; text-align: left; text-indent: -10pt">Amortization of leased assets</td><td style="width: 10%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right"><ix:nonFraction name="us-gaap:AmortizationOfLeasedAsset" contextRef="From2022-01-01to2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">386,475</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr id="xdx_404_eus-gaap--FinanceLeaseInterestExpense_i01_pp0p0_maOLCz1AC_zFsMLfyGrpRe" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Interest of lease liabilities</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:FinanceLeaseInterestExpense" contextRef="From2022-01-01to2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">71,811</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_403_eus-gaap--OperatingLeaseCost_i01T_pp0p0_mtOLCz1AC_zINWmlP7yq49" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">&#160;&#160;&#160;Total operating lease cost</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:OperatingLeaseCost" contextRef="From2022-01-01to2022-03-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">458,286</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8A2_zZeMmPSP5Ic5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span>&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
table below presents lease-related terms and discount rates at March 31, 2022:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="sbev:SummaryOfLeaserelatedTermsAndDiscountRatesTableTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--SummaryOfLeaserelatedTermsAndDiscountRatesTableTextBlock_zktxJLollDFd" summary="xdx: Disclosure - Operating Lease Obligations (Details 2)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B0_zNSOyiMSqoub">Summary of lease-related
    terms and discount rates</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Remaining term on leases</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span id="xdx_903_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtM_c20220331__srt--RangeAxis__srt--MinimumMember_zZdXNkzeW9t9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonNumeric contextRef="AsOf2022-03-31_srt_MinimumMember" format="ixt-sec:durmonth" name="us-gaap:LesseeOperatingLeaseRemainingLeaseTerm">4</ix:nonNumeric>
                                            </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">to <span id="xdx_907_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtM_c20220331__srt--RangeAxis__srt--MaximumMember_zpbGJLOcOVjf"><ix:nonNumeric contextRef="AsOf2022-03-31_srt_MaximumMember" format="ixt-sec:durmonth" name="us-gaap:LesseeOperatingLeaseRemainingLeaseTerm">45</ix:nonNumeric>
                                            </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">months</span></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; width: 70%; text-align: left; text-indent: -10pt">Incremented borrowing rate</td><td style="width: 10%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 18%; text-align: right"><span id="xdx_903_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_dp_c20220331_zUnamSSKwcui"><ix:nonFraction name="us-gaap:OperatingLeaseWeightedAverageDiscountRatePercent" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">5.0</ix:nonFraction></span></td><td style="width: 1%; text-align: left">%</td></tr>
  </table>


</ix:nonNumeric><p id="xdx_8A5_zl59OhLqaXr5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">&#160;</p>

<ix:exclude><!-- Field: Page; Sequence: 20; Value: 1 -->
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<ix:exclude><p id="xdx_23A_zeTk5gGqP5xe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></p>

<ix:exclude><p id="xdx_234_zYwBTeF9tfhj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_233_zfyyW2ry6mig" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
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<ix:exclude><p id="xdx_233_zOKC6xjOh4P9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p></ix:exclude>

<ix:exclude><p id="xdx_23D_zF9LVyPSrfia" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
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<ix:exclude><p id="xdx_239_zlHtslLUbwR7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:BusinessCombinationDisclosureTextBlock"><p id="xdx_80D_eus-gaap--BusinessCombinationDisclosureTextBlock_zcadlVNAF56a" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
                                            9 &#8211; <span id="xdx_824_z3t122C8RtHb">Business Combination</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
consummated the acquisition of CdV on December 24, 2020. The purchase price consideration was comprised of $1.5 million in debt, $0.5
million in cash and $2.0 million in contingent shares, and a note payable for $2.0 million (see note 4) for total consideration of approximately
$6.0 million.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;The
following summarizes our allocation of the updated purchase price for the acquisition:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:BusinessCombinationSeparatelyRecognizedTransactionsTableTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_88C_eus-gaap--BusinessCombinationSeparatelyRecognizedTransactionsTableTextBlock_zyfL9UEIKGI9" summary="xdx: Disclosure - Business Combinations (Details)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B0_zhjHpMe8bU07" style="display: none">Schedule of purchase
    price for the acquisition</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_496_20220331__us-gaap--BusinessCombinationSeparatelyRecognizedTransactionsAxis__custom--PreliminaryPurchaseAccountingMember_zCvmOLEf5qSh" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_497_20220331__us-gaap--BusinessCombinationSeparatelyRecognizedTransactionsAxis__custom--FinalPurchaseAccountingMember_zveb0sct9Iok" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding: 0pt 0pt 1pt 10pt; font-size: 11pt; text-align: center; text-indent: -10pt"><b>&#160;</b></td><td style="padding-bottom: 1pt"><b>&#160;</b></td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center"><b>Preliminary Purchase Accounting</b></td><td style="padding-bottom: 1pt"><b>&#160;</b></td>
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    <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Accounts receivable, net</td><td style="width: 8%">&#160;</td>
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    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Other current assets</td><td>&#160;</td>
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  <tr id="xdx_40C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Inventory, net</td><td>&#160;</td>
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  <tr id="xdx_409_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pp0p0" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Property and equipment, net</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment" contextRef="AsOf2022-03-31_custom_FinalPurchaseAccountingMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">663,273</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_401_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLicenseAgreementNet_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">License agreement, net</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="sbev:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLicenseAgreementNet" contextRef="AsOf2022-03-31_custom_PreliminaryPurchaseAccountingMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">222,095</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="sbev:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLicenseAgreementNet" contextRef="AsOf2022-03-31_custom_FinalPurchaseAccountingMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">222,095</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40E_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBrands_iI_pp0p0_zB8qjObn3Bs1" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Brands</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0836">&#151;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="sbev:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBrands" contextRef="AsOf2022-03-31_custom_FinalPurchaseAccountingMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">4,459,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_404_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCustomerLists_iI_pp0p0_zduPWshxQcT9" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Customer lists</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0839">&#151;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="sbev:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCustomerLists" contextRef="AsOf2022-03-31_custom_FinalPurchaseAccountingMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">957,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_pp0p0" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Goodwill</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet" contextRef="AsOf2022-03-31_custom_PreliminaryPurchaseAccountingMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">5,672,823</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet" contextRef="AsOf2022-03-31_custom_FinalPurchaseAccountingMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">256,823</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_403_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndAssetsAssumedNet_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total indentifiable assets</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="sbev:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndAssetsAssumedNet" contextRef="AsOf2022-03-31_custom_PreliminaryPurchaseAccountingMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">6,931,509</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; font-size: 11pt; text-indent: -10pt">&#160;</td><td style="font-size: 11pt">&#160;</td>
    <td style="font-size: 11pt; text-align: left">&#160;</td><td style="font-size: 11pt; text-align: right">&#160;</td><td style="font-size: 11pt; text-align: left">&#160;</td><td style="font-size: 11pt">&#160;</td>
    <td style="font-size: 11pt; text-align: left">&#160;</td><td style="font-size: 11pt; text-align: right">&#160;</td><td style="font-size: 11pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Accounts payable and accrued expenses</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable" contextRef="AsOf2022-03-31_custom_PreliminaryPurchaseAccountingMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">882,297</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr id="xdx_402_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesNotePayable_iI_pp0p0" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Note payable</td><td>&#160;</td>
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  <tr id="xdx_40E_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesEquity_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Equity</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="sbev:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesEquity" contextRef="AsOf2022-03-31_custom_PreliminaryPurchaseAccountingMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">5,980,000</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
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  <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_pp0p0" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total liabilities and equity</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" contextRef="AsOf2022-03-31_custom_PreliminaryPurchaseAccountingMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">6,931,509</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
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  </table></ix:nonNumeric>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>



<p style="margin-top: 0; margin-bottom: 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>



<p id="xdx_8A6_zYwDd4S1rT3d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">&#160;</p>

<ix:exclude><!-- Field: Page; Sequence: 21; Value: 1 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence -->&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_23C_zqLrMHByLQz3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></p></ix:exclude>

<ix:exclude><p id="xdx_236_z0qMENKAozRl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_232_zW7OhkYBPMo5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Splash
            Beverage Group, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_235_zRzmhDnviTN2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p></ix:exclude>

<ix:exclude><p id="xdx_230_zYmXMNdLvDmb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to the Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23B_zBA5MgdpTaNk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:SegmentReportingDisclosureTextBlock"><p id="xdx_806_eus-gaap--SegmentReportingDisclosureTextBlock_zFQLErdly3rh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
                                            10 &#8211; <span id="xdx_825_zWyRbvWSZIj2">Segment Reporting</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company evaluates segment reporting in accordance with the FASB Accounting Standards Codification Topic 280, Segment Reporting, each
reporting period, including evaluating the reporting package reviewed by&#160;the Chief Executive Officer and Chief Financial Officer.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note:
The CdV business is included in our Splash Beverage Group segment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_888_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zDAiUwfc0zKg" summary="xdx: Disclosure - Segment Reporting (Details)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
<td style="color: black; text-align: left"><span id="xdx_8BE_z8N1MV7elwVe" style="display: none">Schedule of Segment Reporting Information</span></td>
<td style="color: black">&#160;</td>
<td style="color: black; text-align: left">&#160;</td>
<td style="color: black; text-align: right">&#160;</td>
<td style="color: black; text-align: left">&#160;</td>
<td style="color: black">&#160;</td>
<td style="color: black; text-align: left">&#160;</td>
<td style="color: black; text-align: right">&#160;</td>
<td style="color: black; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
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<tr style="vertical-align: bottom; background-color: White">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<tr style="vertical-align: bottom; background-color: White">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1pt solid; color: black; font-weight: bold; text-align: left">Total assets</td>
<td style="color: black; padding-bottom: 1pt">&#160;</td>
<td colspan="3" style="border-bottom: Black 1pt solid; color: black; text-align: center">2022</td>
<td style="color: black; padding-bottom: 1pt">&#160;</td>
<td colspan="3" style="border-bottom: Black 1pt solid; color: black; text-align: center">2021</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 56%; color: black; text-align: left">Splash Beverage Group</td>
<td style="width: 8%; color: black">&#160;</td>
<td style="width: 1%; color: black; text-align: left">&#160;</td>
<td id="xdx_98B_eus-gaap--AssetsNet_iI_pp0p0_c20220331__srt--ProductOrServiceAxis__custom--SplashBeverageGroupMember_zhyhet4ug5qj" title="Total assets" style="width: 12%; color: black; text-align: right"><ix:nonFraction name="us-gaap:AssetsNet" contextRef="AsOf2022-03-31_custom_SplashBeverageGroupMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">19,188,887</ix:nonFraction></td>
<td style="width: 1%; color: black; text-align: left">&#160;</td>
<td style="width: 8%; color: black">&#160;</td>
<td style="width: 1%; color: black; text-align: left">&#160;</td>
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<td style="width: 1%; color: black; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="color: black; text-align: left">E-Commerce</td>
<td style="color: black">&#160;</td>
<td style="color: black; text-align: left">&#160;</td>
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<td style="color: black; text-align: left">&#160;</td>
<td style="color: black">&#160;</td>
<td style="color: black; text-align: left">&#160;</td>
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<td style="color: black; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="color: black; text-align: left"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Total assets discontinued operations</p></td>
<td style="color: black">&#160;</td>
<td style="color: black; text-align: left">&#160;</td>
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<td style="color: black; text-align: left">&#160;</td>
<td style="color: black">&#160;</td>
<td style="color: black; text-align: left">&#160;</td>
<td id="xdx_986_eus-gaap--AssetsNet_iI_pp0p0_c20211231__srt--ProductOrServiceAxis__custom--AssetDiscontinuedOperationsMember_zFfpx5ew5p6g" title="Total assets" style="color: black; text-align: right"><ix:nonFraction name="us-gaap:AssetsNet" contextRef="AsOf2021-12-31_custom_AssetDiscontinuedOperationsMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">473,461</ix:nonFraction></td>
<td style="color: black; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">&#160;</td>
<td style="padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td>
<td style="padding-bottom: 1pt">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
<td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="color: black; text-align: left">Total Assets</td>
<td style="color: black; padding-bottom: 2.5pt">&#160;</td>
<td style="border-bottom: Black 2.5pt double; color: black; text-align: left">&#160;</td>
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<td style="padding-bottom: 2.5pt; color: black; text-align: left">&#160;</td>
<td style="color: black; padding-bottom: 2.5pt">&#160;</td>
<td style="border-bottom: Black 2.5pt double; color: black; text-align: left">&#160;</td>
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<td style="padding-bottom: 2.5pt; color: black; text-align: left">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:CommitmentsAndContingenciesDisclosureTextBlock"><p id="xdx_800_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zMNDRDqWL2oi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are a party to asserted claims and are subject to regulatory actions in the ordinary course of business. The results of such proceedings
cannot be predicted with certainty, but we do not anticipate that the outcome, if any, arising out of any such matter will have a material
adverse effect on its business, financial condition or results of operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-03-31" escape="true" name="us-gaap:SubsequentEventsTextBlock"><p id="xdx_801_eus-gaap--SubsequentEventsTextBlock_zdcJlbEJSU4k" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
                                            12 &#8211; <span id="xdx_82F_zUD5LyZpkMMe">Subsequent Events</span></b></span></p>

</ix:nonNumeric><p id="xdx_817_zB8jIdZTsEe1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">None</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_007"></span>ITEM
2. MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cautionary
Statement Regarding Forward-Looking Statements</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>The
information in this discussion may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve risks and uncertainties,
including statements regarding our capital needs, business strategy and expectations. Any statements that are not of historical fact
may be deemed to be forward-looking statements. These forward-looking statements involve substantial risks and uncertainties. In some
cases you can identify forward-looking statements by terminology such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221;
&#8220;expect,&#8221; &#8220;plan,&#8221; &#8220;intend,&#8221; &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221;
&#8220;predict,&#8221; &#8220;potential,&#8221; or &#8220;continue&#8221;, the negative of the terms or other comparable terminology.
Actual events or results may differ materially from the anticipated results or other expectations expressed in the forward-looking statements.
In evaluating these statements, you should consider various factors, including the risks included from time to time in other reports
or registration statements filed with the United States Securities and Exchange Commission. These factors may cause our actual results
to differ materially from any forward-looking statements. We disclaim any obligation to publicly update these statements or disclose
any difference between actual results and those reflected in these statements.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Unless
the context otherwise requires, references in this Form 10-Q to &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; or the &#8220;Company&#8221;
refer to Splash Beverage Group and its subsidiaries.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following discussion and analysis should be read in conjunction with the Condensed Financial Statements (unaudited) and Notes to Condensed
Financial Statements (unaudited) filed herewith.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Business
Overview</b>&#160;</span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Splash seeks to identify, acquire, and build early
stage or under-valued beverage brands that have strong growth potential within its distribution system. Splash&#8217;s distribution system
is comprehensive in the US and is now expanding to select attractive international markets. The Splash brand portfolio is growing and
diverse, covering multiple categories that are exhibiting strong growth in both the non-alcohol and alcohol sectors. Through its wholly
owned subsidiary Qplash, Splash&#8217;s distribution reach includes e-commerce access to both B-to-B and B-to-C customers. Q-plash markets
well known beverage brands to customers throughout the US that prefer delivery direct to their office, facilities and or homes.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 24, 2020, SBG consummated an Asset Purchase
Agreement (the &#8220;Copa APA&#8221;) with Copa di Vino Corporation (&#8220;CdV&#8221;), to purchase certain assets and assume certain
liabilities that comprise the Copa di Vino business for a total purchase price of $5,980,000, payable in the combination of $2,000,000
in cash (&#8220;Cash Consideration&#8221;), $2,000,000 convertible promissory note (the &#8220;Convertible Note&#8221;) to Seller and
a variable number of shares of the Company&#8217;s common stock based on a attainment of revenue hurdles. CdV is one of the leading producers
of premium wine by the glass in the United States with its primary offices and facilities in The Dalles, Oregon.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 2021, Management initiated a plan to
divest its CMS business. As a result, the assets and operations of CMS have been retrospectively reflected as discontinued operations.
On November 12, 2021 the Company changed its state of Domicile from Colorado to Nevada.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In coordination with uplisting to the NYSE&#160;on
June 11, 2021 the Company consummated a 1.0 for 3.0 reverse stock split.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The 2020 Plan has an &#8220;EVERGREEN&#8221; feature,
which provides for the annual increase in the number of shares issuable under the plan by an amount equal to 5% of the number of issued
and outstanding common shares at year end, unless otherwise adjusted by the board. At January 1, 2021 AND 2022, the number of shares issuable
under the 2020 plan increased by 1,057,852 and 1,679,812 shares, respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b>Results of Operations
for the Three Months Ended March 31, 2022 compared to Three Months Ended March 31, 2021.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Revenue</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Revenues for the three months ended March 31, 2022
were $3,926,573 compared to revenues of $2,138,924 for the three months ended March 31, 2021. The $1,787,649 increase in sales is due
to an increase from CdV ($505105) and within our vertically integrated B2B and B2C e-commerce distribution platform called Qplash ($1,135,233).
Qp;ash sells goods on both Amazon and Shopify. ). Cost of goods sold for the three months ended March 31, 2022 were $3,094,571 compared
to cost of goods sold for the three months ended March 31, 2021 of $1,621,504. The $1,473,066 increase in cost of goods sold for the three-month
period ended March 31, 2022 is primarily due to our increased sales, and as our sales increased, our cost of sales for those sales correspondingly
increased.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Operating Expenses</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Operating expenses for the three months ended March
31, 2022 were $6,515,955 compared to $5,066,349 for the three months ended March 31, 2021. The $1,449,606 increase in our operating expenses
was primarily a result of recording the warrants issued pursuant to certain private placements conducted by the Company ($888,158), marketing
spend ($633,389) and shipping costs ($296,941) offset by other operating expenses. The net loss for the three months ended March 31, 2022
was $5,994,407 as compared to a net loss of $4,442,219 for the three months ended March 31, 2021. The increase in net loss is due to our
increase in operating expenses offset by our increase in revenues.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Interest Expense</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Interest expenses for the three months ended March
31, 2022 were $85,879 compared to $92,211 for the three months ended March 31, 2021.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>LIQUIDITY AND CAPITAL RESOURCES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Liquidity is the ability of a company to generate
funds to support its current and future operations, satisfy its obligations, and otherwise operate on an ongoing basis. Significant factors
in the management of liquidity are funds generated by operations, levels of accounts receivable and accounts payable and capital expenditures.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of March 31, 2022, we had total cash and cash equivalents of $8,495,672, as compared with $4,181,383 at December 31, 2021. The increase
is primarily due to the gross proceeds of $8,100,000 received from the sale of 2.3 million shares of the Company&#8217;s registered common
stock in February 2022 pursuant to the Company&#8217;s shelf registration statement on Form S-3.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net cash used for operating activities during the
three months ended March 31, 2022 was $4,675,886 as compared to the net cash used by operating activities for the three months ended March
31, 2021 of $3,620,039. The primary reasons for the change in net cash used is due to losses sustained and increases in inventory, offset
by non-cash expenses relating to warrant expense ($1,242,697) and share-based compensation ($1,112,845).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the period March 31, 2022 and 2021, did not use
or receive cash relating to investing activities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net cash provided by financing activities during the
three months ended March 31, 2022 was $8,765,000 compared to $4,505,526 provided from financing activities for the three months ended
March 31, 2021. During the three months ended March 31, 2022, we received $9,203,074 from investors, which was offset by repayments debt
holders of $437,474.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CONTRACTUAL
OBLIGATIONS</b>&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Share obligation:</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Symbol; font-size: 10pt">&#183;</span><span style="font-family: Times New Roman, Times, Serif; font-size: 7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b style="font-style: normal; font-weight: normal">The
company has</b></span><b style="font-style: normal; font-weight: normal"> <span style="font-size: 10pt">a obligation to issue 500K
shares to two marketing firms of which the cost associated to 167K shares was accrued for in Q1 2022.</span></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Minimum
Royalty Payments:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have a licensing agreement with ABG TapouT, LLC (&#8220;TapouT&#8221;). Under the licensing agreement, we have minimum royalty payments
to TapouT for the next two years.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="padding: 0pt; width: 29px; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="padding: 0pt; width: 29px; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2022
    &#160;$653,000 </span></td></tr>
  </table>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="padding: 0pt; width: 29px; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="padding: 0pt; width: 29px; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2023
    &#160;$653,000 </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration: underline; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Inventory
Purchase Commitments</b></span><b><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">:</span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Off-Balance
Sheet Arrangements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
do not have any off-balance sheet arrangements (as that term is defined in Item 303 of Regulation S-K) that are reasonably likely to
have a current or future material effect on our financial condition, revenue or expenses, results of operations, liquidity, capital expenditures
or capital resources.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_008"></span>ITEM
3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
required for Smaller Reporting Companies.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_009"></span>ITEM
4. CONTROLS AND PROCEDURES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="padding: 0pt; width: 29px; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Evaluation of
    Disclosure Controls and Procedures</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our Securities and
Exchange Commission Act of 1934 reports is recorded, processed, summarized, and reported within the time periods specified in the Securities
and Exchange Commission&#8217;s rules and forms and that such information is accumulated and communicated to our management, including
our chief executive officer and chief financial officer, as appropriate, to allow for timely decisions regarding required disclosure.
In designing and evaluating the disclosure controls and procedures, we recognize that any controls and procedures, no matter how well
designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management is required
to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
further discussed below, we carried out an evaluation, under the supervision and with the participation of our management, including
our chief executive officer and chief financial officer, of the effectiveness of the design and operation of our disclosure controls
and procedures, as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act. Based on that evaluation, our chief executive officer
and chief financial officer concluded that, because of certain material weaknesses in our internal control over financial reporting our
disclosure controls and procedures as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act were not effective as of March 31,
2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
hired a consultant to advise on technical issues related to U.S. generally accepted accounting principles as related to the maintenance
of our accounting books and records and the preparation of our consolidated financial statements. Although we are aware of the risks
associated with not having dedicated accounting personnel, we are also at an early stage in the development of our business. We anticipate
expanding our accounting functions with dedicated staff and improving our internal accounting procedures and separation of duties when
we can absorb the costs of such expansion and improvement with additional capital resources. In the meantime, management will continue
to observe and assess our internal accounting function and make necessary improvements whenever they may be required. If our remedial
measures are insufficient to address the material weakness, or if additional material weaknesses or significant deficiencies in our internal
control over financial reporting are discovered or occur in the future, our consolidated financial statements may contain material misstatements,
and we could be required to restate our financial results. In addition, if we are unable to successfully remediate this material weakness
and if we are unable to produce accurate and timely financial statements, our stock price may be adversely affected and we may be unable
to maintain compliance with applicable stock exchange listing requirements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="padding: 0pt; width: 29px; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes in Internal
    Controls over Financial Reporting</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">Our management is responsible
for establishing and maintaining adequate internal control over financial reporting. Our internal control over financial reporting is
a process designed to provide reasonable, but not absolute, assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally accepted accounting principles. Because of its inherent limitations,
internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness
to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">A material weakness is a deficiency,
or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material
misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our management assessed the effectiveness of the
Company&#8217;s internal control over financial reporting at March 31, 2022, and this assessment identified some deficiencies in our
internal control over financial reporting.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Remediation plan</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">The company has established
two procedures to begin addressing the controls area. Each quarter Senior Managers respond to a questionnaire to identify areas that
would impact the company&#8217;s financial statements to be reviewed against the reported financial statements. Also, quarterly financial
packages are collected and reviewed with each subsidiary to analyze and ensure completeness of their financial statements.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">The remediation plan includes:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">&#9679;&#9;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Walk
through and document critical process.</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#9;Review
resources and organizational structure to address segregation of duty issues and support the jobs assigned.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#9679;&#9;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Implement
a BI tool that will replace Excel worksheets that can be prone to errors.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

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    <div style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PART
II &#8211; OTHER INFORMATION</b></span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_010"></span>ITEM
1. LEGAL PROCEEDINGS.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_011"></span>ITEM
1A. RISK FACTORS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><b style="font-style: normal; font-weight: normal">No new risk factors noted since our Annual
Report on Form 10-K for the year ended December 31, 2021.</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;<i>&#160;&#160;</i></b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_012"></span>ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_013"></span>ITEM
3. DEFAULTS UPON SENIOR SECURITIES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_014"></span>ITEM
4. MINE SAFETY DISCLOSURES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
disclosure required.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_015"></span>ITEM
5. OTHER INFORMATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_016"></span>ITEM
6. EXHIBITS</b>&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
Exhibits required by Item 601 of Regulation S-K.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-bottom: black 1pt solid; padding: 0pt; width: 10%; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exhibits</b></span></td>
<td style="padding: 0pt; width: 2%; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: black 1pt solid; padding: 0pt; width: 88%; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Description</b></span></td></tr>
<tr style="vertical-align: top; background-color: #CCEEFF">
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">31.1</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="e3719_ex31-1.htm">Certification
of CEO and Principal Executive Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) - Filed herewith electronically</a></span></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">31.2</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="e3719_ex31-2.htm">Certification
of CFO and Principal Financial and Accounting Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) - Filed herewith electronically</a></span></td></tr>
<tr style="vertical-align: top; background-color: #CCEEFF">
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">32.1</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="e3719_ex32-1.htm">Certification
of CEO and Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 - Filed herewith electronically</a></span></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">32.2</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="e3719_ex32-2.htm">Certification
of CFO and Principal Financial and Accounting Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 - Filed herewith electronically</a></span></td></tr>
<tr style="vertical-align: top; background-color: #CCEEFF">
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">XBRL
Exhibits </span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_017"></span>SIGNATURES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="2" style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SPLASH
BEVERAE GROUP, INC.</b></span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0pt; width: 45%; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; width: 5%; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; width: 50%; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: May 16, 2022
</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
<td style="border-bottom: black 1pt solid; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>/s/
Robert Nistico</i></span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Robert Nistico,
Chairman and CEO </span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0pt; text-indent: 0pt">&#160;</td>
<td style="padding: 0pt; text-indent: 0pt">&#160;</td>
<td style="padding: 0pt; text-indent: 0pt">(principal executive officer)</td></tr>
<tr style="vertical-align: top">
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: May 16, 2022</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
<td style="border-bottom: black 1pt solid; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>/s/
Ron Wall</i></span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ron Wall, CFO</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0pt; text-indent: 0pt">&#160;</td>
<td style="padding: 0pt; text-indent: 0pt">&#160;</td>
<td style="padding: 0pt; text-indent: 0pt">(principal accounting officer and principal financial officer)&#160;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">26</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 6pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 6pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>









































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{"company-data": {"conformed-name": "SPLASH BEVERAGE GROUP, INC.", "cik": "0001553788", "assigned-sic": "2080", "irs-number": "341720075", "state-of-incorporation": "CO", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "10-Q", "act": "34", "file-number": "001-40471", "film-number": "22927779"}, "business-address": {"street1": "1314 E LAS OLAS BLVD, SUITE 221", "city": "FORT LAUDERDALE", "state": "NV", "zip": "33301", "phone": "954.745.5815"}, "mail-address": {"street1": "1314 E LAS OLAS BLVD, SUITE 221", "city": "FORT LAUDERDALE", "state": "NV", "zip": "33301"}, "former-company": {"former-conformed-name": "Canfield Medical Supply, Inc.", "date-changed": "20120709"}}
U.S.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
10-Q
☒
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For
the quarterly period ended
March
31, 2022
☐
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For
the transition period from _______ to _________
Commission
File No.
001-40471
SPLASH BEVERAGE GROUP, INC.
(Exact name of registrant as specified in its charter)
Nevada
34-1720075
(State
or other jurisdiction of
incorporation or formation)
(I.R.S.
employer
identification number)
1314 E Las Olas Blvd.
Suite 221
Fort Lauderdale
,
FL
33301
(Address
of principal executive offices) (Zip code)
(
954
)
745-5815
(
Registrant's
telephone number, including area code)
Not
Applicable
(Former name, former address and former fiscal year, if changed since last report)
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
Trading
Symbol
Name
of each exchange on which registered
Common
Stock, $0.001 value per share
SBEV
NYSE
American LLC
Warrants
to purchase one whole share of common stock at an exercise price of $4.60
SBEV-
WT
NYSE
American LLC
Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.
☒
Yes
☐ No
Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule
405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant
was required to submit such files).
☒
Yes
☐ No
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer,"
"smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large
accelerated filer ☐
Accelerated
filer ☐
Non-accelerated filer
☒
Smaller reporting
company
☒
Emerging growth company
☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
☐ Yes
☒
No
Check
whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after
the distribution of securities under a plan confirmed by a court. ☐ Yes ☐ No
As
of May 16, 2022, there were
36,669,828
shares of Common Stock issued and outstanding.
SPLASH
    BEVERAGE GROUP, INC.
FORM
    10-Q
March
    31, 2022
TABLE
OF CONTENTS
Page
PART
I: FINANCIAL INFORMATION
ITEM
1:
FINANCIAL
STATEMENTS
1
Condensed
Consolidated Balance Sheets
2
Condensed
Consolidated Statements of Operations
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
20
ITEM
3:
QUANTITATIVE
AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
22
ITEM
4:
CONTROLS
AND PROCEDURES
22
PART
II: OTHER INFORMATION
ITEM
1
LEGAL
PROCEEDINGS
24
ITEM
1A:
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
SIGNATURES
26
i
PART
I – FINANCIAL INFORMATION
ITEM
1. FINANCIAL STATEMENTS
Splash
Beverage Group, Inc.
Condensed Consolidated Financial Statements
March
31, 2022
1
Splash
    Beverage Group, Inc
.
Condensed
    Consolidated Balance Sheets
March
    31, 2022 and December 31, 2021
(Unaudited)
March 31, 2022
December 31, 2021
Assets
Current assets:
Cash and cash equivalents
$
8,495,672
$
4,181,383
Accounts Receivable, net
1,394,293
1,114,452
Prepaid Expenses
653,036
607,178
Inventory, net
2,056,985
1,923,479
Other receivables
45,811
41,939
Assets from discontinued operations
252,297
473,461
Total current assets
12,898,094
8,341,892
Non-current assets:
Deposit
$
206,508
$
330,886
Intangible assets
5,763,318
5,861,335
Investment in Salt Tequila USA, LLC
250,000
250,000
Right of use asset, net
950,851
1,031,472
Property and equipment, net
542,535
569,785
Total non-current assets
7,713,212
8,043,478
Total assets
$
20,611,306
$
16,385,370
Liabilities and Stockholders'
Equity
Liabilities:
Current liabilities
Accounts payable and accrued expenses
1,517,305
$
1,901,535
Liability to issue shares
476,667
—
Sales tax payable
15,322
11,924
Right of use liability - current
284,372
294,067
Related party notes payable
312,351
653,081
Notes payable, current portion
2,171,068
2,967,812
Shareholder advances
110,000
390,500
Accrued interest payable
154,209
171,452
Liabilities from discontinued operations
392,497
389,086
Total current liabilities
5,433,791
6,779,457
Long-term Liabilities:
Liability to issue shares in APA
—
—
Right of use liability - noncurrent
668,693
732,686
Total long-term liabilities
668,693
732,686
Total liabilities
6,102,484
7,512,143
Common stock, (mezzanine shares) 12,605,283 shares, contingently
convertible to notes payable at December 31, 2020
—
—
Deficiency in stockholders' equity (deficit):
Common Stock, $
0.001
par,
150,000,000
shares authorized,
36,669,828
and
33,596,232
shares issued
36,669,828
and
33,596,232
outstanding, at March 31, 2022 and December 31, 2021, respectively
36,670
33,596
Additional paid in capital
111,107,116
99,480,188
Accumulated deficit
(
96,634,964
)
(
90,640,557
)
Total deficiency in stockholders' equity
14,508,822
8,873,227
Total liabilities, mezzanine shares and deficiency in stockholders'
equity
$
20,611,306
$
16,385,370
The
accompanying notes are an integral part of these condensed consolidated financial statements.
2
Splash Beverage Group, Inc.
Condensed
    Consolidated Statements of Operations
For
    the Three Months Ended March 31, 2022 and 2021
(Unaudited)
Three months ended March 31,
2022
2021
Gross sales
$
4,071,356
$
2,190,525
Customer discounts
(
144,783
)
(
51,601
)
Net revenues
3,926,573
2,138,924
Cost of goods sold
(
3,094,571
)
(
1,621,504
)
Gross profit
832,002
517,420
Operating expenses:
Contracted services
431,545
276,511
Salary and wages
785,651
833,851
Salary and wages - non-cash share-based compensation
1,242,697
1,186,596
Other general and administrative
2,222,238
2,072,659
Other general and administrative - non-cash share-based
    compensation
1,112,845
654,854
Sales and marketing
720,979
41,878
Total operating expenses
6,515,955
5,066,349
Loss from continuing operations
(
5,683,953
)
(
4,548,929
)
Other income/(expense):
Interest expense
(
85,879
)
(
92,097
)
Gain from debt extinguishment
—
1,319
Total other (expense)
(
85,879
)
(
90,778
)
Provision for income taxes
—
—
Net loss from continuing operations, net of tax
(
5,769,831
)
(
4,639,707
)
Net loss /income from discontinued operations, net of
    tax
(
224,576
)
197,488
Net loss
$
(
5,994,408
)
$
(
4,442,219
)
Loss per share - continuing operations
Basic
$
(
0.16
)
$
(
0.19
)
Dilutive
(
0.16
)
(
0.19
)
Weighted average number of common shares outstanding - continuing operations
Basic and dilutive
35,188,404
24,642,532
Income/(loss) per share - discontinued operations
Basic
$
(
0.00
)
$
(
0.00
)
Dilutive
$
(
0.00
)
$
(
0.00
)
Weighted average number of common shares outstanding - discontinued operations
Basic
35,188,404
24,642,532
Dilutive
35,188,404
26,965,927
The
accompanying notes are an integral part of these condensed consolidated financial statements.
3
Splash
Beverage Group, Inc.
Condensed
Consolidated Statement of Changes in Stockholders' Equity
For
the three months ended March 31, 2022 and 2021
2022
2021
Total
stockholders' equity, beginning balances
8,873,227
(
9,350,724
)
Common
stock and additional paid-in capital
Beginning
balances
99,513,784
52,239,012
Issuance
of common stock upon conversion of
convertible instruments
1,206,510
Issuance
of warrants for services
1,242,697
1,186,596
Issuance
of common stock for services
1,113,395
731,035
Issuance
of common stock for cash
8,067,400
4,350,624
Reclassification
of Mezzanine shares
—
9,248,720
Ending
balances
111,143,786
67,935,987
Accumulated
deficit
Beginning
balances
(
90,640,557
)
(
61,589,735
)
Net
loss
(
5,994,407
)
(
4,442,219
)
Ending
balances
(
96,544,694
)
(
66,031,954
)
Total
stockholders' equity, ending balances
14,508,822
1,904,032
The
accompanying notes are an integral part of these condensed consolidated financial statements.
4
Splash
    Beverage Group, Inc.
Condensed
    Consolidated Statement Cash Flows
For
    the Three Months Ended March 31, 2022 and 2021
(Unaudited)
2022
2021
Net
    loss
$
(
5,994,407
)
$
(
4,442,219
)
Adjustments
    to reconcile net loss to net cash used in operating activities:
Depreciation
    and amortization
205,888
76,506
Finance
    charges
(
1,128,000
)
—
Beneficial
    conversion
106,061
—
Non-cash
    warrant expense
1,242,697
1,186,596
Share-based
    compensation
1,112,845
731,035
Other
    noncash changes
64,896
(
362,516
)
Changes
    in working capital items:
Accounts
    receivable, net
(
279,841
)
(
318,194
)
Inventory,
    net
(
133,506
)
(
70,391
)
Prepaid
    expenses and other current assets
(
114,626
)
22,453
Deposits
124,378
—
Accounts
    payable and accrued expenses
97,776
(
469,562
)
Accrued
    Interest payable
19,953
26,253
Net
    cash used in operating activities - continuing operations
(
4,675,886
)
(
3,620,039
)
Net
    cash used in operating activities - discontinued operations
224,575
(
40,082
)
Cash
    Flows from Investing Activities:
Capital
    Expenditures
—
—
Investment
    in Salt Tequila USA, LLC
—
—
Cash
    used for Copa acquisition
—
—
Net
    cash acquired in Canfield merger
—
—
Net
    cash used in investing activities - continuing operations
—
—
Net
    cash used in investing activities - discontinued operations
—
Cash
    Flows from Financing Activities:
Proceeds
    from issuance of Common stock
9,203,074
4,530,624
Cash
    advance from shareholder
—
416,201
Repayment
    of cash advance
(
107,966
)
Proceeds
    from issuance of debt
—
Principal
    repayment of debt
(
437,474
)
(
333,333
)
Net
    cash provided by financing activities - continuing operations
8,765,600
4,505,526
Net
    cash provided by financing activities - discontinued operations
—
—
Net
    Change in Cash and Cash Equivalents
4,314,289
845,405
Cash
    and Cash Equivalents, beginning of year
4,181,383
380,000
Cash
    and Cash Equivalents, end of year
$
8,495,672
$
1,225,405
Supplemental
    Disclosure of Cash Flow Information:
Cash
    paid for Interest
$
10,000
$
—
Supplemental
    Disclosure of Non-Cash Investing and Financing Activities
Notes
    payable and accrued interest converted to common stock (
223,596
shares)
843,480
—
The
accompanying notes are an integral part of these condensed consolidated financial statements.
5
Splash
Beverage Group, Inc.
Notes
to the Condensed Consolidated Financial Statements
Note
                                            1 –
Business Organization and Nature of Operations
Splash seeks to identify, acquire, and build early
stage or under-valued beverage brands that have strong growth potential within its distribution system. Splash's distribution system
is comprehensive in the US and is now expanding to select attractive international markets. The Splash brand portfolio is growing and
diverse, covering multiple categories that are exhibiting strong growth in both the non-alcohol and alcohol sectors. Through its wholly
owned subsidiary Qplash, Splash's distribution reach includes e-commerce access to both B-to-B and B-to-C customers. Q-plash markets
well known beverage brands to customers throughout the US that prefer delivery direct to their office, facilities and or homes.
On
February 2021, Management initiated a plan to divest its Canfied Medical Supply, Inc. ("CMS") business. As a result, the assets and operations of CMS have been retrospectively
reflected as discontinued operations. On November 12, 2021 the Company changed its state of Domicile from Colorado to Nevada.
In
coordination with uplisting to the NYSE on June 11, 2021 the Company consummated a 1.0 for 3.0 reverse stock split. All common stock
shares stated herein have been adjusted on a retrospective basis to reflect the split.
6
Splash
                                            Beverage Group, Inc.
Notes
            to the Condensed Consolidated Financial Statements
Note
                                            2 –
Summary of Significant Accounting Policies
Basis
                                            of Presentation and Consolidation
These
condensed consolidated financial statements include the accounts of Splash Beverage Group and its wholly owned subsidiaries, Holdings, Copa di Vino, Inc.('CdV") and Splash Mexico., CMS is reflected as discontinued operations. All intercompany balances have been eliminated in consolidation.
Our
accounting and reporting policies conform to accounting principles generally accepted in the United States of America (GAAP).
The
accompanying condensed financial statements have been prepared by us without audit. In the opinion of management, all adjustments (which
include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for
the three months ended March 31, 2022 and 2021 have been made.
Certain
information and footnote disclosures normally included in consolidated financial statements prepared in GAAP have been condensed or omitted.
The results of operations for the period ended March 31, 2022 are not necessarily indicative of the operating results for the full year.
Use
                                            of Estimates
The
preparation of condensed consolidated financial statements in conformity with GAAP requires our management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated
financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from
those estimates.
Cash
                                            Equivalents and Concentration of Cash Balance
We
consider all highly liquid securities with an original maturity of three months or less to be cash equivalents. We had
no
cash equivalents at March 31, 2022 or December
31, 2021.
Our cash in bank deposit amounts, at times, may exceed
federally insured limits of $250,000. At March 31, 2022 we had $
7,632,587
in excess of the federally insured limits. Our bank deposit amounts in Mexico $
2,169
are uninsured.
7
Splash
            Beverage Group, Inc.
Notes
            to the Condensed Consolidated Financial Statements
Note
            2 – Summary of Significant Accounting Policies, continued
Accounts
                                            Receivable and Allowance for Doubtful Accounts
Accounts
receivable are carried at their estimated recoverable amounts and are periodically evaluated for collectability based on past credit
history with clients and other factors. We establish provisions for losses on accounts receivable on the basis of loss experience, known
and inherent risk in the account balance, and current economic conditions. At March 31, 2022 and December 31, 2021, our accounts receivable
amounts are reflected net of allowances of $
13,949
and $
45,203
,
respectively.
Inventory
Inventory
is stated at the lower of cost or net realizable value, accounted for using the weighted average cost method. The inventory balances
at March 31, 2022 and December 31, 2021 consisted of raw materials, work-in-process, and finished goods held for distribution. The cost
elements of inventory consist of purchase of products, transportation, and warehousing. We establish provisions for excess or inventory
near expiration are based on management's estimates of forecast turnover of inventories on hand and under contract. A significant
change in the timing or level of demand for certain products as compared to forecast amounts may result in recording additional provisions
for excess or expired inventory in the future. Provisions for excess inventory are included in cost of goods sold and have historically
been adequate to provide for losses on inventory. We manage inventory levels and purchase commitments in an effort to maximize utilization
of inventory on hand and under commitments. The amount of our reserve was $
253,703
and $
223,223
at March 31, 2022 and December 31, 2021, respectively.
Property
                                            and Equipment
We
record property and equipment at cost when purchased. Depreciation is recorded for property, equipment, and software using the straight-line
method over the estimated economic useful lives of assets, which range from
3
-
39
years. Company management reviews the recoverability
of all long-lived assets, including the related useful lives, whenever events or changes in circumstances indicate that the carrying
amount of a long-lived asset might not be recoverable.
Depreciation
expense totaled $
30,695
and $
43,487
for the three months ended March 31, 2022 and
March 31, 2021, respectively. Property and equipment as of March 31, 2022 and December 31, 2021 consisted of the following:
2022
2021
Machinery & equipment
1,108,870
1,108,870
Buildings
282,988
279,543
Leasehold improvements
662,537
662,537
Office furniture & equipment
70,960
70,960
Total cost
2,125,355
2,121,910
Accumulated depreciation
(
1,582,820
)
(
1,552,125
)
Property, plant & equipment, net
542,535
569,785
Excise
                                            taxes
The
Company pays alcohol excise taxes based on product sales to both the Oregon Liquor Control Commission and to the U.S. Department of the
Treasury, Alcohol and Tobacco Tax and Trade Bureau (TTB). The Company is liable for the taxes upon the removal of product from the Company's
warehouse on a per gallon basis. The federal tax rate is affected by a small winery tax credit provision which decreases based upon the
number of gallons of wine production in a year rather than the quantity sold.
8
Splash
            Beverage Group, Inc.
Notes
            to the Condensed Consolidated Financial Statements
Note
            2 – Summary of Significant Accounting Policies, continued
Fair
                                            Value of Financial Instruments
Financial
Accounting Standards ("FASB") guidance specifies a hierarchy of valuation techniques based on whether the inputs to those
valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable
inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical
assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of
the fair value hierarchy are as follows:
Level
1 -
Unadjusted
quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement
date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments
and listed equities.
Level 2 -
Inputs
other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g.,
quoted prices of similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in
markets that are not active).
Level 3 -
Unobservable
inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models,
discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable.
The
liabilities and indebtedness presented on the condensed consolidated financial statements approximate fair values at March 31, 2022 and
December 31, 2021, consistent with recent negotiations of notes payable and due to the short duration of maturities and market rates
of interest.
9
Splash
            Beverage Group, Inc.
Notes
            to the Condensed Consolidated Financial Statements
Note
            2 – Summary of Significant Accounting Policies, continued
Revenue
                                            Recognition
We
recognize revenue under ASC 606, Revenue from Contracts with Customers (Topic 606). This guidance sets forth a five-step model which
depicts the recognition of revenue in an amount that reflects what we expect to receive in exchange for the transfer of goods or services
to customers.
We
recognize revenue when our performance obligations under the terms of a contract with the customer are satisfied. Product sales occur
once control of our products is transferred upon delivery to the customer. Revenue is measured as the amount of consideration that we
expect to receive in exchange for transferring goods and is presented net of provisions for customer returns and allowances. The amount
of consideration we receive and revenue we recognize varies with changes in customer incentives we offer to our customers and their customers.
Sales taxes and other similar taxes are excluded from revenue.
Distribution
expenses to transport our finished goods products, where applicable, and warehousing expense are accounted for within operating expenses.
Distribution expense is capitalized as part of inventory as the materials are received by our distillery, co-packer or internal/external
warehouse.
Cost
                                            of Goods Sold
Cost
of goods sold include the costs of products, packaging, transportation, warehousing, and costs associated with valuation allowances for
expired, damaged or impaired inventory.
Stock-Based
                                            Compensation
We account for stock-based compensation in accordance
with ASC 718, "
Compensation - Stock Compensation"
. Under the fair value recognition provisions, cost is measured
at the grant date based on the fair value of the award and is recognized as expense ratably over the requisite service period, which
is generally the award's vesting period. We use the Black-Scholes option pricing model to determine the fair value of stock-based
awards. We early adopted ASU 2018-07, "Improvements to Nonemployee Share-Based Payment Accounting", which aligns accounting
treatment for such awards to non-employees with the existing guidance on employee share-based compensation in ASC 718.
Income
                                            Taxes
We
use the liability method of accounting for income taxes as set forth in ASC 740, "
Income Taxes"
. Under the liability
method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and
liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. We record a valuation allowance
when it is not more likely than not that the deferred tax assets will be realized.
Company
management assesses its income tax positions and records tax benefits for all years subject to examination based upon its evaluation
of the facts, circumstances and information available at the reporting date. In accordance with ASC 740-10, for those tax positions where
there is a greater than 50% likelihood that a tax benefit will be sustained, our policy is to record the largest amount of tax benefit
that is more likely than not to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant
information.
For
those income tax positions where there is less than
50
%
likelihood that a tax benefit will be sustained, no tax benefit will be recognized in the financial statements. Company management has
determined that there are no material uncertain tax positions at March 31, 2022 and December 31, 2021.
10
Splash
            Beverage Group, Inc.
Notes
            to the Condensed Consolidated Financial Statements
Note
            2 – Summary of Significant Accounting Policies, continued
Net
                                            income (loss) per share
The
net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding.
Warrants, stock options, and common stock issuable upon the conversion of the Company's convertible debt or preferred stock (if
any), are not included in the computation if the effect would be anti-dilutive.
Weighted
average number of shares outstanding for awards granted from 2021 to 2022 excludes anti-dilutive common stock equivalents, including
warrants to purchase
3
million shares of common stock for nominal consideration.
Advertising
We
conduct advertising for the promotion of our products. In accordance with ASC 720-35, advertising costs are charged to operations when
incurred. We recorded advertising expense of $
87,590
and $
1,987
for the three-months ended March 31, 2022 and
2021, respectively.
Goodwill
                                            and Intangibles Assets
Goodwill
represents the excess of acquisition cost over the fair value of the net assets acquired and is not subject to amortization. The Company
reviews goodwill annually in the fourth quarter for impairment or when circumstances indicate carrying value may exceed the fair value.
This evaluation is performed at the reporting unit level. If a qualitative assessment indicates that it is more likely than not that
the fair value is less than carrying value, a quantitative analysis is completed using either the income or market approach, or a combination
of both. The income approach estimates fair value based on expected discounted future cash flows, while the market approach uses comparable
public companies and transactions to develop metrics to be applied to historical and expected future operating results.
Intangible assets consist of customer lists, brands
and license agreements acquired in the acquisition of CdV. The Company amortizes intangible assets with finite lives on a straight-line
basis over their estimated useful lives of 15 years.
11
Splash
            Beverage Group, Inc.
Notes
            to the Condensed Consolidated Financial Statements
Note
            2 – Summary of Significant Accounting Policies, continued
Long-lived
                                            assets
The
Company evaluates long-lived assets for impairment on an annual basis, when relocating or closing a facility, or when events or changes
in circumstances may indicate the carrying amount of the asset group, generally an individual warehouse, may not be fully recoverable.
For asset groups held and used, including warehouses to be relocated, the carrying value of the asset group is considered recoverable
when the estimated future undiscounted cash flows generated from the use and eventual disposition of the asset group exceed the respective
carrying value. In the event that the carrying value is not considered recoverable, an impairment loss is recognized for the asset group
to be held and used equal to the excess of the carrying value above the estimated fair value of the asset group. For asset groups classified
as held-for-sale (disposal group), the carrying value is compared to the disposal group's fair value less costs to sell. The Company
estimates fair value by obtaining market appraisals from third party brokers or using other valuation techniques.
Recent
                                            Accounting Pronouncements
Management
does not believe that any other recently issued, but not yet effective, accounting standards could have a material effect on the accompanying
financial statements. As new accounting pronouncements are issued, we will adopt those that are applicable under the circumstances.
Reclassifications
Certain prior period amounts have been reclassified
to conform with the current year presentation.
12
Splash
            Beverage Group, Inc.
Notes
            to the Condensed Consolidated Financial Statements
Note
                                            3 –
Notes Payable, Related Party Notes Payable, Convertible
                                            Bridge Loans Payable, Revenue Financing Arrangements and Bridge Loan Payable
Notes
payable are generally nonrecourse and secured by all Company owned assets.
Interest
Rate
March 31,
2022
December 31,
2021
Notes Payable and Convertible
    Notes Payable
In March 2014, we entered into
    a short-term loan agreement with an entity in the amount of $
200,000
.
    The note included warrants for
272,584
shares of common stock at $
0.94
per share. The warrants expired unexercised on
February
    28, 2017
. The loan matured and remains in default.
8
%
200,000
200,000
In September 2021, we entered into a twelve-month
    loan with a company in the amount of $
208,000
.
    The loan requires 12 amortized payments with the final payment due August 2022.
4.8
%
46,870
116,478
In December 2020, we entered into a 56
    month loan with a company in the amount of $
1,578,237
.
    The loan requires payments of
3.75
%
    of the previous months revenue. Note is due September 2025
17
%
1,396,198
1,423,334
In April 2021, we entered into a six-month
    convertible loan with an individual in the amount of $
84,000
.
    The loan had an original maturity of October 2021 with principal and interest due at maturity. The loan was extended to August 2022.
7
%
84,000
84,000
In April 2021, we entered into a six-month
    convertible loan with an individual in the amount of $
84,000
.
    The loan had an original maturity of October 2021 with principal and interest due at maturity. The loan was extended to August 2022.
7
%
84,000
84,000
In May 2021, we entered into a six-month
    convertible loan with an individual in the amount of $
50,000
.
    The loan had an original maturity of October 2021 with principal and interest due at maturity. The loan was extended to August 2022.
7
%
50,000
50,000
In May 2021, we entered into a six-month
    convertible loan with an individual in the amount of $
500,000
.
    The loan had an original maturity of October 2021 with principal and interest due at maturity. The principal and interest was converted
    into shares of common stock in February 2022.
7
%
—
500,000
In May 2021, we entered into a six-month
    convertible loan with an individual in the amount of $
10,000
.
    The loan had an original maturity of October 2021 with principal and interest due at maturity. The loan was extended to August 2022.
7
%
10,000
10,000
In May 2021, we entered into a six-month
    convertible loan with an individual in the amount of $
200,000
.
    The loan had an original maturity of October 2021 with principal and interest due at maturity. The principal and interest was converted
    into shares of common stock in February 2022.
7
%
—
200,000
In November 2021, we entered into a one-year
    convertible loan with an individual in the amount of $
300,000
.
    The loan expires November 2022 with the principal and interest due at maturity.
7
%
300,000
300,000
Total
                                            notes payable
and convertible notes payable
$
2,171,068
$
2,967,812
Less
                                            current portion
(
2,171,068
)
(
2,967,812
)
Long-term
                                            notes payable
and convertible notes payable
$
—
$
—
Interest
expense on notes payable was $
81,700
and $
9,625
for the three months ended March 31, 2022 and
2021, respectively. Accrued interest was $
154,209
at March 31, 2022.
13
Splash
            Beverage Group, Inc.
Notes
            to the Condensed Consolidated Financial Statements
Note
            3– Notes Payable, Related Party Notes Payable, Convertible Bridge Loans Payable, Revenue Financing Arrangements and
            Bridge Loan Payable, continued
Interest Rate
March 31, 2022
December
31,
2021
Related Parties Notes Payable
In December 2020, we entered into an 18 month loan with an individual in the amount of $
2,000,000
. The loan requires 18 monthly amortized payments of principal and interest in the amount of $
114,444
with the final payment due June 2022.
2.0
%
312,351
653,081
Less current portion
(
312,351
)
(
653,081
)
Long-term notes payable
$
—
$
—
Interest
expense on related party notes payable was $
2,602
and $
0
for the three months ended March 31, 2022 and
2021, respectively. Accrued interest was $
0
as of March 31, 2022.
14
Splash
            Beverage Group, Inc.
Notes
            to the Condensed Consolidated Financial Statements
Note
                                            4 –
Licensing Agreement and Royalty Payable
We have a licensing agreement with ABG TapouT, LLC
("TapouT"), providing us with licensing rights to the brand "TapouT" on energy drinks, energy shots, water, teas
and sports drinks for beverages sold in the United States of America, its territories, possessions, U.S. military bases and Mexico. Under
the terms of the agreement, we are required to pay a 6% royalty on net sales, as defined. We are required to make minimum monthly payments
of $
54,450
in 2022 and $
49,500
in 2021.
There
were no unpaid royalties at March 31, 2022. We paid the guaranteed minimum royalty payments of $
163,350
and $
148,500
for the three-months ended March 31, 2022 and
2021, which is included in general and administrative expenses.
In
                                            connection with the Copa APA, we acquired the license to certain patents from 1/4 Vin SARL
                                            ("1/4 Vin") On February 16, 2018, the CdV entered into three separate license
                                            agreements with 1/4 Vin SARL, (1/4 Vin). 1/4 Vin has the right to license certain patents
                                            and patent applications relating to inventions, systems, and methods used in our manufacturing
                                            process. In exchange for notes payable, 1/4 Vin granted us a nonexclusive, royalty-bearing,
                                            non-assignable, nontransferable, terminable license which would continue until the subject
                                            equipment is no longer in service or the patents expire. Amortization is approximately $31,000
                                            annually until the license agreement is fully amortized. The asset is being amortized over
                                            a
10
-year
                                            useful life.
Note
                                            5–
Stockholders' Equity
Common
Stock
At
March 31, 2021, we issued
168,333
shares
of common stock in exchange for services provided to us. At September 30, 2021, we issued
2,136,819
shares
of common stock in exchange for services provided to us. At December 31, 2021, we issued
977,497
shares
of common stock in exchange for services provided to us. At March 31, 2022, we issued
550,000
shares
of common stock in exchange for services, and
2,300,000
as part of our S3 drawdown and convertible instruments. For the
three-month-ended March 31, 2022 the shares were valued at a fair market value stock price based on the agreement date. We
recognized share-based compensation expense for the three-months ended March 31, 2022 of $
2,355,542
,
which is classified within the other general and administrative line on our Condensed Consolidated Statements of
Operations.
Private
Placement Memorandum (PPM)
In
January 2021, the Board of Directors approved a private placement offering of
1,212,121
shares of the common stock of the Company, $
0.001
value per share at a purchase price of $
3.30
per share for aggregate gross proceeds of $
4,000,000
("PPM"). As part of the PPM, each
purchaser received a warrant to purchase one share for every two shares purchased. In February 2021, we completed our PPM by issuing
a total of
1,212,355
of shares and
606,178
warrants receiving gross proceeds of approximately
$
4,000,000
.
15
Splash
                                            Beverage Group, Inc.
Notes
            to the Consolidated Financial Statements
Note
            5 – Stockholders' Equity, continued
Stock
Plans
2020
Plan
On August 2020, the Board adopted the 2020 Stock Incentive
Plan (the "2020 Plan"), which provides for the grant of Options, Restricted Stock Awards, Stock Appreciation Rights, Performance
Units and Performance Bonuses to consultants and eligible recipients. The total number of shares that may be issued under the 2020 plan
was
2,313,133
at the time the 2020 plan was adopted
The 2020 Plan has an "EVERGREEN" feature,
which provides for the annual increase in the number of shares issuable under the plan by an amount equal to 5% of the number of issued
and outstanding common shares at year end, unless otherwise adjusted by the board. At January 1, 2021 AND 2022, the number of shares issuable
under the 2020 plan increased by
1,057,852
and
1,679,812
shares, respectively.
During the three-month period ended March 31, 2022,
the company granted
773,596
shares under the 2020 plan. At March 31, 2022, the total number of awards that may be issued under the 2020
plan was
2,123,703
.
The fair value of stock options recognized in the
period has been estimated using the Black-Scholes option pricing model.
The company did not grant any new options, warrants,
or shares in Q1 2022 that would fall under the 2020 plan.
Shareholder
Advances and Liability to Issue Stock and Warrants
We have various agreements
with consultants in the amount of 0.5 million shares to be issued by in Q2 2022. The stock price will be valued
using
the 10-day average price of the company's stock from the issuance date. As part of our private placement memoranda, we owe an investor
33,333 shares at $3.30 of the Company's common stock which will be issued in Q2 2022.
Note
                                            6 –
Related Parties
There
are related party notes payable of $
0.3
and $
0.7
million outstanding as of March 31, 2022 and
December 31,2021, respectively. See note 3.
Note
                                            7 –
Investment in Salt Tequila USA, LLC
We have a marketing and distribution agreement with
SALT Tequila USA, LLC ("SALT") for the manufacturing of our Tequila product line in Mexico.
We have
a
22.5
%
percentage ownership interest in SALT, have the right to increase our ownership to
37.5
%.
This investment is accounted for at cost, due to our inability to exercise significant influence over the assets and operations
.
16
Splash
            Beverage Group, Inc.
Notes
            to the Condensed Consolidated Financial Statements
Note
                                            8 –
Operating Lease Obligations
Effective
July 2018, we entered into a lease agreement for the right to use and occupy office space. The lease term commenced
July
1, 2018
and is scheduled to expire
after
36
months, on
June
30, 2021
. In July 2021, we executed
a two-year renewal at the same monthly amount.
Effective
November 2019, we entered into a new lease with Interport Logistics, LLC. The lease term commenced on
November
11, 2019
and is scheduled to expire
on
November
11, 2022
.
Effective
May 2019, we entered into a new lease in Mexico. The lease commenced
May
1, 2019
and is scheduled to expire
after 24 months, on April 1, 2021. Our new
1
year lease agreement is renewed annually.
Effective
January 2021, we entered into a lease agreement for the right to use and occupy office space. The lease term commenced
January
18, 2021
and is scheduled to expire
after
18
months, on
July
31, 2022
.
Effective
January 2021, we entered into a lease agreement for the right to use and occupy office and manufacturing space. The lease term commenced
January
1, 2021
and is scheduled to expire
after
60
months, on
December
31, 2025
.
The
following table presents the discounted present value of minimum lease payments for our office and warehouses to the amounts reported
as financial lease liabilities on the condensed consolidated balance sheet at March 31, 2022:
Undiscounted
    Future Minimum Lease Payments
Operating Lease
2022 (Nine months remaining)
252,723
2023
279,790
2024
252,000
2025
252,000
Total
1,036,513
Amount representing imputed interest
(
83,448
)
Total operating lease liability
953,065
Current portion of operating lease liability
284,372
Operating lease liability, non-current
$
668,693
The
table below presents information for lease costs related to our operating leases at March 31, 2022:
Schedule
    of lease costs
Operating lease cost:
Amortization of leased assets
$
386,475
Interest of lease liabilities
71,811
Total operating lease cost
$
458,286
The
table below presents lease-related terms and discount rates at March 31, 2022:
Summary of lease-related
    terms and discount rates
Remaining term on leases
4
to
45
months
Incremented borrowing rate
5.0
%
17
Splash
            Beverage Group, Inc.
Notes
            to the Condensed Consolidated Financial Statements
Note
                                            9 –
Business Combination
We
consummated the acquisition of CdV on December 24, 2020. The purchase price consideration was comprised of $1.5 million in debt, $0.5
million in cash and $2.0 million in contingent shares, and a note payable for $2.0 million (see note 4) for total consideration of approximately
$6.0 million.
The
following summarizes our allocation of the updated purchase price for the acquisition:
Preliminary Purchase Accounting
Final Purchase Accounting
Accounts receivable, net
88,131
88,131
Other current assets
11,236
11,236
Inventory, net
273,951
273,951
Property and equipment, net
663,273
663,273
License agreement, net
222,095
222,095
Brands
—
4,459,000
Customer lists
—
957,000
Goodwill
5,672,823
256,823
Total indentifiable assets
6,931,509
6,931,509
Accounts payable and accrued expenses
882,297
882,297
Note payable
69,212
69,212
Equity
5,980,000
5,980,000
Total liabilities and equity
6,931,509
6,931,509
18
Splash
            Beverage Group, Inc.
Notes
to the Condensed Consolidated Financial Statements
Note
                                            10 –
Segment Reporting
The
Company evaluates segment reporting in accordance with the FASB Accounting Standards Codification Topic 280, Segment Reporting, each
reporting period, including evaluating the reporting package reviewed by the Chief Executive Officer and Chief Financial Officer.
Note:
The CdV business is included in our Splash Beverage Group segment.
Revenue
2022
2021
Splash Beverage Group
1,478,158
825,742
E-Commerce
2,448,415
1,313,182
Total Revenues continuing operations
3,926,573
2,138,924
Total Revenues discontinuing operations
114,071
278,777
Total assets
2022
2021
Splash Beverage Group
19,188,887
14,998,597
E-Commerce
1,170,122
913,312
Total assets discontinued operations
187,401
473,461
Total Assets
20,611,306
16,385,370
Note
                                            11 –
Commitment and Contingencies
We
are a party to asserted claims and are subject to regulatory actions in the ordinary course of business. The results of such proceedings
cannot be predicted with certainty, but we do not anticipate that the outcome, if any, arising out of any such matter will have a material
adverse effect on its business, financial condition or results of operations.
Note
                                            12 –
Subsequent Events
None
19
ITEM
2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Cautionary
Statement Regarding Forward-Looking Statements
The
information in this discussion may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve risks and uncertainties,
including statements regarding our capital needs, business strategy and expectations. Any statements that are not of historical fact
may be deemed to be forward-looking statements. These forward-looking statements involve substantial risks and uncertainties. In some
cases you can identify forward-looking statements by terminology such as "may," "will," "should,"
"expect," "plan," "intend," "anticipate," "believe," "estimate,"
"predict," "potential," or "continue", the negative of the terms or other comparable terminology.
Actual events or results may differ materially from the anticipated results or other expectations expressed in the forward-looking statements.
In evaluating these statements, you should consider various factors, including the risks included from time to time in other reports
or registration statements filed with the United States Securities and Exchange Commission. These factors may cause our actual results
to differ materially from any forward-looking statements. We disclaim any obligation to publicly update these statements or disclose
any difference between actual results and those reflected in these statements.
Unless
the context otherwise requires, references in this Form 10-Q to "we," "us," "our," or the "Company"
refer to Splash Beverage Group and its subsidiaries.
The
following discussion and analysis should be read in conjunction with the Condensed Financial Statements (unaudited) and Notes to Condensed
Financial Statements (unaudited) filed herewith.
Business
Overview
Splash seeks to identify, acquire, and build early
stage or under-valued beverage brands that have strong growth potential within its distribution system. Splash's distribution system
is comprehensive in the US and is now expanding to select attractive international markets. The Splash brand portfolio is growing and
diverse, covering multiple categories that are exhibiting strong growth in both the non-alcohol and alcohol sectors. Through its wholly
owned subsidiary Qplash, Splash's distribution reach includes e-commerce access to both B-to-B and B-to-C customers. Q-plash markets
well known beverage brands to customers throughout the US that prefer delivery direct to their office, facilities and or homes.
On December 24, 2020, SBG consummated an Asset Purchase
Agreement (the "Copa APA") with Copa di Vino Corporation ("CdV"), to purchase certain assets and assume certain
liabilities that comprise the Copa di Vino business for a total purchase price of $5,980,000, payable in the combination of $2,000,000
in cash ("Cash Consideration"), $2,000,000 convertible promissory note (the "Convertible Note") to Seller and
a variable number of shares of the Company's common stock based on a attainment of revenue hurdles. CdV is one of the leading producers
of premium wine by the glass in the United States with its primary offices and facilities in The Dalles, Oregon.
On February 2021, Management initiated a plan to
divest its CMS business. As a result, the assets and operations of CMS have been retrospectively reflected as discontinued operations.
On November 12, 2021 the Company changed its state of Domicile from Colorado to Nevada.
In coordination with uplisting to the NYSE on
June 11, 2021 the Company consummated a 1.0 for 3.0 reverse stock split.
The 2020 Plan has an "EVERGREEN" feature,
which provides for the annual increase in the number of shares issuable under the plan by an amount equal to 5% of the number of issued
and outstanding common shares at year end, unless otherwise adjusted by the board. At January 1, 2021 AND 2022, the number of shares issuable
under the 2020 plan increased by 1,057,852 and 1,679,812 shares, respectively.
20
Results of Operations
for the Three Months Ended March 31, 2022 compared to Three Months Ended March 31, 2021.
Revenue
Revenues for the three months ended March 31, 2022
were $3,926,573 compared to revenues of $2,138,924 for the three months ended March 31, 2021. The $1,787,649 increase in sales is due
to an increase from CdV ($505105) and within our vertically integrated B2B and B2C e-commerce distribution platform called Qplash ($1,135,233).
Qp;ash sells goods on both Amazon and Shopify. ). Cost of goods sold for the three months ended March 31, 2022 were $3,094,571 compared
to cost of goods sold for the three months ended March 31, 2021 of $1,621,504. The $1,473,066 increase in cost of goods sold for the three-month
period ended March 31, 2022 is primarily due to our increased sales, and as our sales increased, our cost of sales for those sales correspondingly
increased.
Operating Expenses
Operating expenses for the three months ended March
31, 2022 were $6,515,955 compared to $5,066,349 for the three months ended March 31, 2021. The $1,449,606 increase in our operating expenses
was primarily a result of recording the warrants issued pursuant to certain private placements conducted by the Company ($888,158), marketing
spend ($633,389) and shipping costs ($296,941) offset by other operating expenses. The net loss for the three months ended March 31, 2022
was $5,994,407 as compared to a net loss of $4,442,219 for the three months ended March 31, 2021. The increase in net loss is due to our
increase in operating expenses offset by our increase in revenues.
Interest Expense
Interest expenses for the three months ended March
31, 2022 were $85,879 compared to $92,211 for the three months ended March 31, 2021.
LIQUIDITY AND CAPITAL RESOURCES
Liquidity is the ability of a company to generate
funds to support its current and future operations, satisfy its obligations, and otherwise operate on an ongoing basis. Significant factors
in the management of liquidity are funds generated by operations, levels of accounts receivable and accounts payable and capital expenditures.
As
of March 31, 2022, we had total cash and cash equivalents of $8,495,672, as compared with $4,181,383 at December 31, 2021. The increase
is primarily due to the gross proceeds of $8,100,000 received from the sale of 2.3 million shares of the Company's registered common
stock in February 2022 pursuant to the Company's shelf registration statement on Form S-3.
Net cash used for operating activities during the
three months ended March 31, 2022 was $4,675,886 as compared to the net cash used by operating activities for the three months ended March
31, 2021 of $3,620,039. The primary reasons for the change in net cash used is due to losses sustained and increases in inventory, offset
by non-cash expenses relating to warrant expense ($1,242,697) and share-based compensation ($1,112,845).
For the period March 31, 2022 and 2021, did not use
or receive cash relating to investing activities.
Net cash provided by financing activities during the
three months ended March 31, 2022 was $8,765,000 compared to $4,505,526 provided from financing activities for the three months ended
March 31, 2021. During the three months ended March 31, 2022, we received $9,203,074 from investors, which was offset by repayments debt
holders of $437,474.
21
CONTRACTUAL
OBLIGATIONS
Share obligation:
·
The
company has
a obligation to issue 500K
shares to two marketing firms of which the cost associated to 167K shares was accrued for in Q1 2022.
Minimum
Royalty Payments:
We
have a licensing agreement with ABG TapouT, LLC ("TapouT"). Under the licensing agreement, we have minimum royalty payments
to TapouT for the next two years.
●
2022
     $653,000
●
2023
     $653,000
Inventory
Purchase Commitments
:
None.
Off-Balance
Sheet Arrangements
We
do not have any off-balance sheet arrangements (as that term is defined in Item 303 of Regulation S-K) that are reasonably likely to
have a current or future material effect on our financial condition, revenue or expenses, results of operations, liquidity, capital expenditures
or capital resources.
ITEM
3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Not
required for Smaller Reporting Companies.
ITEM
4. CONTROLS AND PROCEDURES
(a)
Evaluation of
    Disclosure Controls and Procedures
We
maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our Securities and
Exchange Commission Act of 1934 reports is recorded, processed, summarized, and reported within the time periods specified in the Securities
and Exchange Commission's rules and forms and that such information is accumulated and communicated to our management, including
our chief executive officer and chief financial officer, as appropriate, to allow for timely decisions regarding required disclosure.
In designing and evaluating the disclosure controls and procedures, we recognize that any controls and procedures, no matter how well
designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management is required
to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.
As
further discussed below, we carried out an evaluation, under the supervision and with the participation of our management, including
our chief executive officer and chief financial officer, of the effectiveness of the design and operation of our disclosure controls
and procedures, as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act. Based on that evaluation, our chief executive officer
and chief financial officer concluded that, because of certain material weaknesses in our internal control over financial reporting our
disclosure controls and procedures as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act were not effective as of March 31,
2022.
22
We
hired a consultant to advise on technical issues related to U.S. generally accepted accounting principles as related to the maintenance
of our accounting books and records and the preparation of our consolidated financial statements. Although we are aware of the risks
associated with not having dedicated accounting personnel, we are also at an early stage in the development of our business. We anticipate
expanding our accounting functions with dedicated staff and improving our internal accounting procedures and separation of duties when
we can absorb the costs of such expansion and improvement with additional capital resources. In the meantime, management will continue
to observe and assess our internal accounting function and make necessary improvements whenever they may be required. If our remedial
measures are insufficient to address the material weakness, or if additional material weaknesses or significant deficiencies in our internal
control over financial reporting are discovered or occur in the future, our consolidated financial statements may contain material misstatements,
and we could be required to restate our financial results. In addition, if we are unable to successfully remediate this material weakness
and if we are unable to produce accurate and timely financial statements, our stock price may be adversely affected and we may be unable
to maintain compliance with applicable stock exchange listing requirements.
(b)
Changes in Internal
    Controls over Financial Reporting
Our management is responsible
for establishing and maintaining adequate internal control over financial reporting. Our internal control over financial reporting is
a process designed to provide reasonable, but not absolute, assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally accepted accounting principles. Because of its inherent limitations,
internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness
to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.
A material weakness is a deficiency,
or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material
misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis.
Our management assessed the effectiveness of the
Company's internal control over financial reporting at March 31, 2022, and this assessment identified some deficiencies in our
internal control over financial reporting.
Remediation plan
The company has established
two procedures to begin addressing the controls area. Each quarter Senior Managers respond to a questionnaire to identify areas that
would impact the company's financial statements to be reviewed against the reported financial statements. Also, quarterly financial
packages are collected and reviewed with each subsidiary to analyze and ensure completeness of their financial statements.
The remediation plan includes:
●	             Walk
through and document critical process.
●             	Review
resources and organizational structure to address segregation of duty issues and support the jobs assigned.
●	             Implement
a BI tool that will replace Excel worksheets that can be prone to errors.
23
PART
II – OTHER INFORMATION
ITEM
1. LEGAL PROCEEDINGS.
None.
ITEM
1A. RISK FACTORS
No new risk factors noted since our Annual
Report on Form 10-K for the year ended December 31, 2021.
ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
None.
ITEM
3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM
4. MINE SAFETY DISCLOSURES
No
disclosure required.
ITEM
5. OTHER INFORMATION
None.
24
ITEM
6. EXHIBITS
(a)
Exhibits required by Item 601 of Regulation S-K.
Exhibits
Description
31.1
Certification
of CEO and Principal Executive Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) - Filed herewith electronically
31.2
Certification
of CFO and Principal Financial and Accounting Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) - Filed herewith electronically
32.1
Certification
of CEO and Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 - Filed herewith electronically
32.2
Certification
of CFO and Principal Financial and Accounting Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 - Filed herewith electronically
101
XBRL
Exhibits
25
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
SPLASH
BEVERAE GROUP, INC.
Date: May 16, 2022
By:
/s/
Robert Nistico
Robert Nistico,
Chairman and CEO
(principal executive officer)
Date: May 16, 2022
By:
/s/
Ron Wall
Ron Wall, CFO
(principal accounting officer and principal financial officer)
26