Kona Gold Beverage, Inc. Announces Record Big Revenue Month in October

Rhea-AI Summary

Kona Gold Beverage (OTCQB: KGKG) reported record revenue of approximately $327,000 in October 2021, making it their highest October revenue to date and third best month of the year. Kona Gold LLC and Gold Leaf Distribution LLC contributed $151,000 and $176,000 in revenues, respectively. The company is on pace to meet its projected 2021 revenues of $2.5 million to $3 million. Following a strong Q3 with $890,000 in revenue, the CEO expressed confidence in continuing growth, new product launches, and expansion of operations.

Positive

• Record revenue for October at approximately $327,000, highest in company history.
• Kona Gold LLC and Gold Leaf Distribution LLC achieved revenues of $151,000 and $176,000, respectively.
• On pace to meet 2021 projected revenues of $2.5 to $3 million.
• Strong Q3 performance with $890,000 in revenue.
• Expansion in workforce from 9 to 18 employees, indicating growth.

Negative

• Recent stock price decline despite positive revenue growth.

MELBOURNE, Fla., Nov. 10, 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 revenue in October was the highest when compared to all prior Octobers, and the Company's third best revenue month of 2021. The months of October, November, and December are generally the slowest months in the beverage industry, but Kona Gold Beverage's subsidiaries, Kona Gold LLC and Gold Leaf Distribution LLC continue to see phenomenal growth, even in the slower season.

Kona Gold LLC saw October revenues of approximately $151,000 with approximately $32,000 in Gross Profit. Gold Leaf Distribution LLC saw October revenues of approximately $176,000 with approximately $48,000 in Gross Profit, which was another record revenue month for Gold Leaf Distribution. The combined Kona Gold Beverage subsidiaries saw approximately $327,000 in combined revenue.

Kona Gold Beverage's announcement comes off last month's announcement of having a record revenue quarter in Q3, with approximately $890,000 in revenue. At the current pace, Kona Gold Beverage's Q4 revenues are on track to beat the previous quarters revenue, which would be a staple on the strong year the Company is having in 2021. The Company continues to be on pace to hit 2021 projected revenues of $2.5 to $3 million in revenue.

"I am pleased to announce to our shareholders that the Company continues to see exciting growth and our revenues are a reflection of that," stated Robert Clark, CEO of Kona Gold Beverage, Inc. "I understand our shareholders are frustrated with the beating our stock price has taken recently, but that is not a reflection of the outstanding work our entire team is doing and the growth we are experiencing from a business perspective. We continue to hit our numbers we put out for 2021 and are ramping up for an extremely exciting 2022 with new product launches, rebranding of existing products, and expanding distribution operations."

Clark continued, "To support the growth we are having, we recently hired a bookkeeper at our corporate location and 2 salesmen for our Gold Leaf Distribution operation. We started 2021 with 9 employees across all subsidiaries and we have grown to 18 employees to date."

Kona Gold will be announcing an exciting new product line that will launch in the next few weeks along with rebranding updates of its Kona Gold Hemp Energy Drinks. Gold Leaf Distribution's new Conway branch is now fully operational and the Company expects a substantial uptick in revenue from that location, adding to the phenomenal growth Gold Leaf is having in 2021.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 rebranded it's Lemin Lemonade to Ooh La Lemin Lemonade; please visit its website at www.oohlalemin.com. Kona Gold and its family of companies are located on the east coast of Florida in Melbourne and in Greer and Conway 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
+1 844-714-2224
investorrelations@konagoldbeverage.com

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SOURCE Kona Gold Beverage, Inc.

FAQ

What was Kona Gold Beverage's revenue in October 2021?

Kona Gold Beverage reported a record revenue of approximately $327,000 in October 2021.

How does Kona Gold Beverage's October performance compare to past years?

October 2021 was the highest revenue month for Kona Gold Beverage compared to all prior Octobers.

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

Kona Gold Beverage is on track to achieve projected revenues between $2.5 million and $3 million for 2021.

What was the revenue for Kona Gold LLC and Gold Leaf Distribution in October 2021?

Kona Gold LLC generated approximately $151,000, while Gold Leaf Distribution LLC generated about $176,000 in October 2021.

What did Kona Gold Beverage achieve in Q3 2021?

Kona Gold Beverage had a strong Q3 performance with approximately $890,000 in revenue.