Kona Gold Beverage, Inc. Announces Q2 Guidance Subsidiary, Gold Leaf Distribution, Post Record Revenue Month in April

Rhea-AI Summary

Kona Gold Beverage (OTCQB: KGKG) has announced Q2 guidance, projecting approximately $750,000 in revenues, with $300,000 from Gold Leaf Distribution and $450,000 from other subsidiaries. The company reported record revenues of over $100,000 in April for both Gold Leaf and Kona Gold. Anticipating a gross profit of $225,000, Kona Gold is also preparing to launch its rebranded Ooh La Lemin in Q2 and is hiring additional staff to support growth. An international order for its Hemp Energy Drinks is expected soon.

Positive

• Projected Q2 revenues of approximately $750,000.
• Gold Leaf Distribution reported record revenue of over $100,000 in April.
• Anticipated gross profit of $225,000 for Q2.
• Launch of rebranded Ooh La Lemin and expansion into Amazon.com.
• First international order expected for Kona Gold Hemp Energy Drinks.

Negative

• None.

MELBOURNE, Fla., May 3, 2021 /PRNewswire/ -- Kona Gold Beverage, Inc. (OTCQB: KGKG), a holding company focused on product development in the better-for-you and hemp and CBD functional beverage sector, is pleased to announce Q2 guidance to shareholders. Kona Gold Beverage has experienced strong growth across its subsidiaries, Kona Gold LLC and Gold Leaf Distribution LLC in 2021. Revenue growth has continued from the first quarter of this year into the second quarter, with strong revenue in April. The Companies Distribution Subsidiary, Gold Leaf Distribution continues to experience revenue growth month-over-month and posted another record revenue month in April, crossing over the $100,000 mark for the first time. Kona Gold, the Companies beverage subsidiary also posted revenues of over $100,000 in April and continues to see strong demand for its beverage portfolio.

Kona Gold Beverage anticipates second quarter revenues to be approximately $750,000, comprising of $300,000 from its subsidiary, Gold Leaf Distribution; and $450,000 from the Company's other subsidiaries. These revenues are calculated based on the Company's continued growth and does not include additional large partnership deals the Company is currently working on, which could take second quarter revenues much higher. The Company anticipates a gross profit of approximately $225,000 from these revenues.

The Company will be launching its much anticipated and rebranded Ooh La Lemin website in Q2, along with website refreshes of its current brand websites, Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters. Ooh La Lemin will launch on Amazon.com in Q2, and it will be available for the first time in 12 pack cases.  In addition, the new 12 pack cases will be available on Ooh La Lemin's new website at launch. 

Gold Leaf Distribution and Kona Gold are both hiring personnel in Q2 to assist with the Company's growth of both subsidiaries. Gold Leaf will be hiring an additional sales person/driver in the Florida market to assist in growth as the Company is now distributing products to 22 Targets in Central Florida. Kona Gold expects it will hire 1 to 2 Sales staff who will travel to distribution partners throughout various regions of the U.S. every week, with their objective to focus and grow markets in these regions.

Kona Gold is expecting to receive its first international order in the coming weeks for its Kona Gold Hemp Energy Drinks, taking the number one selling hemp energy drink outside the United States for the first time. The Company will update shareholders regarding execution of this deal and other deals as they come to fruition. 

For more information regarding Kona Gold Beverage, please visit: https://konagoldbeverage.com/   

About Kona Gold Beverage, Inc.

Kona Gold Beverage, Inc., a Delaware corporation, has created wholly-owned subsidiaries, Kona Gold LLC, HighDrate, LLC, and Gold Leaf Distribution, LLC.  Kona Gold, LLC has developed a premium Hemp-Infused Energy Drink line; please visit its website at www.konagoldhemp.com.  HighDrate, LLC has developed the beverage industry's first CBD-Infused Energy Water, available in 6 delicious flavors; please visit its website at www.highdrateme.com. Gold Leaf Distribution, LLC was created to fill the Company's distribution needs in markets that it wants to enter quickly; please visit its website at www.goldleafdist.com. Kona Gold Beverage, Inc. recently acquired S&S Beverage, Inc., which manufactures and distributes LEMIN Superior Lemonade line; please visit its website at www.drinklemin.com. Kona Gold and its family of companies are located on the east coast of Florida in Melbourne and in Greer, South Carolina.Safe Harbor Statement: 

The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions.  The Company may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties.  There can be no assurance that such statements will prove to be accurate.  The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company's Registration Statement on Form S-1. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated.  These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.  The Company does not undertake any obligation to update publicly or to revise any statements in this release, whether as a result of new information, future events, or otherwise.

Investor Relations Contact: 
Robert Clark
844-714-2224
investorrelations@konagoldbeverage.com

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SOURCE Kona Gold Beverage, Inc.

FAQ

What are the projected revenues for Kona Gold Beverage in Q2 2021?

Kona Gold Beverage projects approximately $750,000 in revenues for Q2 2021.

How much revenue did Gold Leaf Distribution generate in April 2021?

Gold Leaf Distribution generated over $100,000 in revenue in April 2021.

What is the expected gross profit for Kona Gold Beverage in Q2 2021?

The expected gross profit for Kona Gold Beverage in Q2 2021 is approximately $225,000.

When will the rebranded Ooh La Lemin website launch?

The rebranded Ooh La Lemin website is set to launch in Q2 2021.

Is Kona Gold Beverage planning to hire new staff in 2021?

Yes, Kona Gold Beverage is hiring new personnel to assist with the growth of its subsidiaries in Q2 2021.