Splash Beverage abandons core business, explores cannabinoid pivot amid 98% revenue collapse

Filed May 20, 2026 · Period ending March 31, 2026 · Compared to 10-Q Jul 11, 2025 · ~1 min read

Key Changes

• high

  Quarterly revenue collapsed from $400k to under $10k (98% decline) as company admits beverage business failed due to lack of capital; now operates only one product line (Chispo tequila) sold exclusively to Senor Frog locations.

  MD&A: Revenue & Business Model verify on EDGAR →
• high

  Strategic pivot announced alongside workforce cuts ($530k salary reduction), discontinued Copa Di Vino brand, and rising debt service ($890k quarterly interest vs $640k prior year), suggesting aspirational rather than executed positioning in wellness/cannabinoid markets.

  MD&A: Strategic Transition & Operating Expenses verify on EDGAR →
• high

  Company needs $10 million to close proposed Medterra CBD acquisition but states it lacks sufficient capital for next 12 months; cash position improved to $381k from $0 via equity-line proceeds but remains inadequate for acquisition or operations.

  MD&A: Liquidity & Capital Requirements verify on EDGAR →