IBG.NASDAQInnovation Beverage Group LTD

F-1/A: Innovation Beverage Group Limited Files Amendment No. 29 to Form F-1 Registration Statement

Sentiment:

Registration Statement Amendment

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Innovation Beverage Group Limited files Amendment No. 29 to its Form F-1 registration statement primarily to include the consent of its independent accountants, Accell Audit & Compliance, P.A.

Capital raiseThe document is a registration statement, indicating the company's intent to raise capital through a public offering.

Summary

  • Innovation Beverage Group Limited has filed Amendment No. 29 to its Form F-1 registration statement with the SEC.
  • The primary purpose of this amendment is to include Exhibit 23.1, the consent of Accell Audit & Compliance, P.A., regarding their audit of the company's financial statements for the years ended December 31, 2023, and 2022.
  • No other changes have been made to the registration statement beyond updating the cover page and exhibit index.
  • The amendment does not include copies of the public offering prospectus, which remains unchanged from Amendment No. 28 filed on August 14, 2024.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The filing of the amendment is a necessary step towards a potential public offering, which is generally viewed positively. However, the document itself is purely procedural.

Positives

  • The filing of the accountant's consent is a necessary step for the registration statement to become effective, indicating progress towards a potential public offering.

Future Outlook

The registration statement is being amended to include necessary documentation for a potential public offering, with the commencement of the proposed sale to the public to occur as soon as practicable after the effective date of the registration statement.

Industry Context

The filing is a standard step for companies seeking to go public, ensuring compliance with SEC regulations and providing investors with audited financial information.

Stakeholder Impact

  • The filing of the amendment is a step towards a potential public offering, which could benefit existing shareholders.
  • A successful public offering could provide the company with capital to grow its business, potentially creating jobs and benefiting suppliers and customers.

Next Steps

  • The SEC will review the amended registration statement.
  • The company will need to satisfy any SEC comments and potentially file further amendments.
  • The registration statement will need to be declared effective by the SEC before the company can proceed with its public offering.

Key Dates

DateDescription
December 22, 2016Manufacturing Agreement between Europa International Pty Ltd and Coca-Cola Amatil (Australia) Pty Ltd
July 2, 2018Deed of Novation by and among Europa International Pty Ltd, Coca-Cola Amatil (Australia) Pty Ltd, and Australian Boutique Spirits Pty Ltd
October 29, 2018Transfer of Lease, Mortgage or Charge (lease registered number AH858213) between Europa International Pty Ltd and Australian Boutique Spirits Pty Ltd
January 9, 2019Notice Under 2016 Europa Manufacturing Agreement
July 31, 2020Manufacturing Supply and License Agreement between Australian Boutique Spirits Pty Ltd and Elegance Brands, Inc.
March 10, 2021Amendment Agreement between Australian Boutique Spirits Pty Ltd and Elegance Brands, Inc.
June 14, 2021Termination of BevMart Agreement and Amendment to Manufacturing Agreement between Australian Boutique Spirits Pty Ltd and Elegance Brands, Inc.
November 1, 2021Executive Services Agreement between Australian Boutique Spirits Pty Ltd, Beri Beverages Pty Ltd and Sahil Beri
December 27, 2021Novation of Debt Agreement between Amit Beri and Meena Beri
February 15, 2022Consulting Agreement between Australian Boutique Spirits Pty Ltd and Great Plains Development, Inc.
April 29, 2022Non-Executive Directors Agreement between Australian Boutique Spirits Pty Ltd and Sally E. Cardillo, Sameer Sethi, and Kristopher Salinger
July 14, 2022Note Purchase Agreement between Innovation Beverage Group Limited and Dean Huge
July 19, 2022Note Purchase Agreement between Innovation Beverage Group Limited and Anil Beri
October 11, 2022Note Purchase Agreement between Innovation Beverage Group Limited and Elizabeth Beri
October 21, 2022Amendment Agreement between Innovation Beverage Group Limited and Sway Energy Corp.
November 15, 2022Note Purchase Agreement between Innovation Beverage Group Limited and Clive Coleman
August 25, 2023Amendment to Rutherford, NJ Sublease for REG Liquors, LLC Property
February 15, 2024Non-Executive Directors Agreement between Innovation Beverage Group Limited and Daniel Lanskey
February 29, 2024Non-Executive Directors Agreement between Innovation Beverage Group Limited and Shawn Messner
March 18, 2024IBG Treasury Stock Deed dated by and among Meena Beri, 114 Assets Inc. and Innovation Beverage Group Limited
May 12, 2024Date of Accell Audit & Compliance, P.A.'s audit report for the years ended December 31, 2023 and 2022
August 3, 2024Restated and Amended IBG Treasury Stock Deed dated by and among Meena Beri, 114 Assets Inc. and Innovation Beverage Group Limited
August 14, 2024Filing date of Amendment No. 28 to the Registration Statement
September 17, 2024Filing date of Amendment No. 29 to the Registration Statement

Keywords

Form F-1, registration statement, Innovation Beverage Group Limited, Accell Audit & Compliance, consent, SEC, audit, financial statements, public offering

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