Innovation Beverage Group Limited was incorporated in Australia as "Australian Boutique Spirits PTY LTD" on April 20, 2018 and changed its name to "Innovation Beverage Group PTY Limited" on May 2, 2022. They are developers, manufacturers, marketers, exporters and retailers of a growing beverage portfolio, covering 70 formulas from 14 alcoholic and non-alcoholic brands. Their focus is on high-end and ultra-high-end brands. Innovative Beverage Group Co., Ltd. has two subsidiaries. IBG USA LLC (" IBG USA ") was established to import, manufacture, market and wholesale through co-packers a portfolio of brands owned by Innovative Beverage Group, LLC in the United States. IBG USA has not conducted any such activities.