Kona Gold Beverage, Inc. Post Highest November Revenue

Rhea-AI Summary

Kona Gold Beverage, Inc. (OTCQB: KGKG) announced record revenues of approximately $236,000 for November 2021, marking a remarkable 330% increase year-over-year. Its subsidiary, Gold Leaf Distribution, contributed significantly, achieving over $183,000 in sales. The company anticipates further growth, projecting monthly revenues exceeding $300,000 by early 2022, aided by expanding operations and product launches, including the new Ooh La Lemin Sparkling Lemonade. CEO Robert Clark expressed optimism about exceeding 2021 revenue projections.

Positive

• November 2021 revenues reached approximately $236,000, a 330% increase year-over-year.
• Gold Leaf Distribution achieved record revenues with over $183,000 in sales for November.
• Projected monthly revenues of over $300,000 in early 2022 as operations expand.
• Launch of new product line, Ooh La Lemin Sparkling Lemonade, expected to enhance sales.

Negative

• None.

Subsidiary Gold Leaf Distribution has another record month

Melbourne, FL, Dec. 13, 2021 (GLOBE NEWSWIRE) -- 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 it has posted the highest November Revenue in Company history.  November revenues increased over 330% compared to the prior-year November, which is a significant increase.  Total Revenues for November were approximately $236,000.

Kona Gold Beverage’s subsidiary, Gold Leaf Distribution, led revenues in November posting another record revenue month with over $183,000 in sales.  Sales for Gold Leaf continue to climb, and the Company expects to see substantial revenue growth as its new Conway, South Carolina distribution center takes root and develops market share in that territory.  Gold Leaf Distribution has seen substantial growth in 2021, with 9 delivery trucks, 10 employees, and nearing profitability.

“I am pleased to announce to our shareholders that the Company continues to hit revenue projections, and we continue to grow, month-over-month,” stated Robert Clark, CEO of Kona Gold Beverage, Inc. “We have already hit our revenue projections for 2021 and our team is currently laying out the groundwork for a successful 2022, where we will see much higher revenue projections and will announce that to shareholders in early January.”

Clark continued, “We anticipate our Gold Leaf operation to grow to approximately $300,000 + in revenue per month in early 2022 as the beverage season goes into full swing and our new Conway, SC branch gets established.  We are seeing exciting developments around our new Sparkling Ooh La Lemin Lemonades and anticipate that brand to have an extremely successful launch early next year.  Along with the rebranding of our Kona Gold Hemp Energy Drinks, which is anticipated to roll out in March of next year, we are planning for a huge Q1 in 2022.”

Kona Gold recently announced it has developed and will be launching a new line of beverages, Ooh La Lemin Sparkling Lemonade, which will launch in early Q1 of 2022.  Ooh La Lemin Sparkling will be produced in 12oz sleek cans; it will be made with all natural ingredients; it is gluten and GMO free; and it has 10 low calories.  Ooh La Lemin Sparkling will be available in six delicious flavors: Blue Raspberry, Citrus Splash, Cucumber Watermelon, Huckleberry, Original, and Pineapple Mango.

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 its 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
844-714-2224
investorrelations@konagoldbeverage.com

FAQ

What were Kona Gold Beverage's revenues for November 2021?

Kona Gold Beverage reported revenues of approximately $236,000 for November 2021, a 330% increase compared to the previous year.

What is the revenue contribution from Gold Leaf Distribution for November 2021?

Gold Leaf Distribution contributed over $183,000 in sales for November 2021.

What future revenue projections does Kona Gold Beverage have for early 2022?

Kona Gold Beverage projects monthly revenues exceeding $300,000 in early 2022.

What new products is Kona Gold Beverage launching?

Kona Gold Beverage plans to launch a new line of Ooh La Lemin Sparkling Lemonade in early Q1 of 2022.

How much did Kona Gold Beverage's revenues increase year-over-year?

Kona Gold Beverage's revenues increased by 330% year-over-year for November 2021.