The Alkaline Water Company Reports Record Revenue of $63.8 Million in Fiscal Year 2023, Posts 16% Growth and Makes Significant Strides Toward Profitability - Seite 3

Cash Flow and Operational Runway

The Company reported limited cash resources at the end of the fiscal year. As a result, the management team has remained focused on securing the necessary funds to keep operations running smoothly. The Company’s current credit facility, an asset-based loan, has been extended into the fall as management pursues another revolving financing agreement to continue pursuing the goal of profitable operations.

Fiscal 2023 Complete Financial Results

Complete results for the Company’s fiscal year 2023 will also be filed on SEDAR under the Company’s profile on www.sedar.com and on EDGAR at www.sec.gov.

Note on Reverse Split:

Effective April 5, 2023, The Company effected a one for fifteen reverse stock split of its authorized, issued and outstanding shares of common stock. As a result, the Company’s authorized common stock has decreased from 200,000,000 shares of common stock, with a par value of $0.001 per share, to 13,333,333 shares of common stock, with a par value of $0.001 per share, and the number of issued and outstanding shares of common stock has decreased from approximately 152,149,661 to approximately 10,185,898. Any fractional shares resulting from the reverse stock split were rounded up to the next nearest whole number.

Accordingly, all share and per-share amounts referenced above for the current period and prior periods have been adjusted to reflect the reverse stock split.

About The Alkaline Water Company:

The Alkaline Water Company is the Clean Beverage company making a difference in the water you drink and the world we share.

Founded in 2012, The Alkaline Water Company (NASDAQ: WTER) is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88, is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88 delivers perfect 8.8 pH alkaline drinking water with trace minerals and electrolytes and boasts our trademarked “Clean Beverage” label.

To purchase The Alkaline Water Company’s products online, visit us at www.alkaline88.com.

To learn more about The Alkaline Water Company, please visit www.thealkalinewaterco.com or connect with us on Facebook, Twitter, Instagram, or LinkedIn.

Notice Regarding Forward-Looking Statements

This news release contains “forward-looking statements.” Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the following: the statements relating to the Company’s pathway to profitability, including the statement that the pathway to profitability is an initiative to increase margins, cut costs and improve overall operational efficiency; that the Company acknowledges there’s still a ways to go on its pathway to profitability but it has made progress in fiscal year 2023 and trends continue in the right direction; that the Company has now identified approximately $22 million in cost savings and margin enhancement compared to fiscal year 2022 once all the changes are fully implemented; that the Company’s growth in topline sales and improvements in cost management and operational efficiency bring the Company closer to its goal of profitability; and that the Company is optimistic about what the future holds as it continues to strive for profitability, improve operational efficiencies and create value for its shareholders and customers.