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Kona Gold Beverage Inc. (OTCPK: KGKG) is a dynamic holding company specializing in the better-for-you and functional beverage sector. Headquartered in Melbourne, Florida, the company operates through its subsidiaries, Kona Gold LLC and Covert LLC, to offer a diverse range of healthy energy drinks and hemp-derived products.
Products and Innovation: Kona Gold's portfolio includes premium energy drinks targeting health-conscious consumers, such as the innovative HighDrate D9 Drinks, available in flavors like Blue Raspberry and Pina Colada. Covert LLC complements this with high-quality Delta-8, THCa, THC-P, and Kratom products, ensuring a robust lineup of health-focused beverages.
Recent Achievements: In recent news, Kona Gold unveiled new images for its HighDrate D9 Energy Seltzer and launched a new eCommerce platform for Covert LLC, enhancing digital consumer engagement. Notably, the introduction of Federally Legal D9 Gummies marks a significant milestone, reflecting the company’s commitment to product innovation and safety.
Strategic Growth: Under the visionary leadership of CEO Jared Fisher and Co-founder Elliot Eichler, Kona Gold has achieved remarkable revenue growth, including a record-breaking $1.5 million in Q1 2024. The acquisition of Surge Distribution LLC, expected to bring in $5 million in annual revenue, exemplifies their strategic expansion efforts.
Financial Highlights: Despite the challenges of 2023, Kona Gold reported steady revenues of $3 million. The company is poised for substantial growth in 2024, with projected revenue enhancements from new product launches and strategic acquisitions. The successful reduction of $1.3 million in debt and a significant decrease in authorized shares further solidified their financial standing.
Partnerships and Acquisitions: Kona Gold’s joint venture with Apple Rush Co., Inc. aims to revolutionize the beverage industry by leveraging collective expertise in product innovation and manufacturing. In addition, the company’s acquisition of Covert LLC and Surge Distribution LLC underscores its commitment to expanding its market presence and product reach.
Future Prospects: With plans to rebrand as NuVibe, Inc. (Ticker: VIBE), the company is set to diversify its portfolio and enhance shareholder value. Upcoming projects include the launch of the HighDrate D9 Drinks and continued expansion into lucrative markets such as Central Florida and Charlotte, NC.
Kona Gold Beverage Inc. continues to drive innovation and growth, delivering premium, health-conscious products while fostering shareholder confidence through strategic initiatives and financial stewardship.
Kona Gold Beverage (OTCPK: KGKG) reported a record revenue of almost $1.3M for Q1 2023, reflecting a 79% year-over-year increase for fiscal year 2022. This growth was driven by a remarkable 154% increase from its subsidiary, Gold Leaf Distribution, and a 17% increase in sales of its Ooh La Lemin Lemonades. The company anticipates achieving $6.8M-$7M in revenue for 2023, with a projection of 200,000 case sales. Kona Gold's products will soon be available in 60 Town Pump convenience stores in Montana, expanding its market presence. CEO Robert Clark expressed confidence in the company's growth trajectory, aiming for a long-term goal of one million cases sold by 2026.
Kona Gold Beverage has officially launched its Ooh La Lemin Lemonades in Tennessee through a partnership with Lipman Brothers, a leading distributor in the region. This marks a significant milestone for Kona Gold, as the launch saw the sale of several hundred cases within just three days. The product will be available at major retailers, including Walmart. Furthermore, the company plans to expand distribution to Town Pump convenience stores in Montana, further enhancing its market presence.
Kona Gold Beverage, Inc. (OTC-PINK: KGKG) announced its Ooh La Lemin Lemonades will be available at Hot Spot convenience stores in North and South Carolina. Six of the ten SKUs will be stocked across all 40 locations, supported by a new distribution partnership with MR Williams. This expansion follows other distribution agreements, including one with A&B Distributors in Arkansas, Oklahoma, and Texas, targeting a combined population of 14 million. CEO Robert Clark expressed optimism about the brand's growth through these strategic partnerships.
Kona Gold Beverage, Inc. (OTC-PINK: KGKG) has signed a distribution agreement with A&B Distributors to market its Ooh La Lemin Lemonades in Arkansas, Oklahoma, and Texas. This partnership aims to expand the company’s presence in these new markets, which collectively have a population of approximately 14 million. A&B Distributors will cover all of Arkansas and Oklahoma, plus 19 counties in Texas, including Dallas. This move follows previous distribution agreements in San Francisco, Illinois, and Minnesota, supporting Kona Gold's goal of achieving 100% DSD distribution nationwide within 2-3 years.
Kona Gold Beverage (OTCPK: KGKG) announced a record-breaking monthly revenue of $500,000 for January, marking a significant increase from $275,000 in January last year. This milestone is noteworthy considering January is typically a slow month for the beverage industry. The company's subsidiaries, Kona Gold LLC and Gold Leaf Distribution LLC, achieved their revenue targets, with Gold Leaf experiencing an all-time high in revenue. The company has also signed a distribution agreement with Norman Distribution for its Ooh La Lemin Lemonades in the Chicago area, aiming for further growth as spring and summer months approach.
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