Kona Gold Beverage, Inc. Receives $250,000 Purchase Order from New Vendor

Rhea-AI Summary

Kona Gold Beverage, Inc. (OTCQB: KGKG) has announced a significant purchase order worth approximately $250,000 for its Ooh La Lemin Lemonade from a new vendor with over 300 stores across 15 states. The company anticipates second-quarter revenues of around $750,000, with a gross profit margin expected at 30%. CEO Robert Clark expressed excitement over the company's growth and the successful closing of long-term deals. However, an anticipated international order for the Kona Gold Hemp Energy Drinks has been delayed due to a COVID-related lockdown.

Positive

• Largest purchase order to date valued at approximately $250,000.
• Projected second-quarter revenues of around $750,000.
• Expected gross profit margin of 30% from revenues.
• Successful entry into new markets with Ooh La Lemin Lemonade.

Negative

• Delay in anticipated international order for Kona Gold Hemp Energy Drinks due to COVID lockdown.

MELBOURNE, Fla., May 11, 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 it has received its largest purchase order to date.  The purchase order, which came in from a new vendor, and is for the Company's Ooh La Lemin Lemonade, is approximately $250,000.  The new vendor, which has over 300 stores across 15 states in the Midwestern united states, will receive half a pallet of Ooh La Lemin Lemonade for each store.

Kona Gold Beverage recently announced it 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 revenue projections did not include additional large partnership deals such as this purchase order, which could take second quarter revenues much higher.  The Company anticipates a gross profit of approximately 30% from these revenues.

"Our team has been working diligently to close deals that we have been working on for months, some deals for years, and I am excited to be announcing to our shareholders, that one of those deals has closed and the Company has received its largest purchase order to date, and it is a substantial one at that," stated Robert Clark, CEO of Kona Gold Beverage, Inc. "Our Ooh La Lemin Lemonade brand is growing rapidly and doing extremely well in its current and new markets.  We recently launched Ooh La Lemin in an 800+ convenience store chain where its performance has exceeded expectations and that vendor has already placed multiple reorders."

Kona Gold was 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, but that country has recently locked down due to COVID, and the order has been delayed.  The Company will keep shareholders up-to-date 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 is the value of the latest purchase order for Kona Gold Beverage?

The latest purchase order is valued at approximately $250,000.

What are the projected revenues for Kona Gold Beverage in the second quarter?

Kona Gold Beverage anticipates second-quarter revenues of around $750,000.

What is the expected gross profit margin for Kona Gold Beverage?

The expected gross profit margin is approximately 30%.

Why is Kona Gold Beverage's international order delayed?

The international order is delayed due to a COVID-related lockdown.

How many stores will receive Ooh La Lemin Lemonade from the latest order?

The lemonade will be distributed to over 300 stores across 15 states.