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KONA GOLD BEVERAGE INC - KGKG STOCK NEWS

Welcome to our dedicated page for KONA GOLD BEVERAGE news (Ticker: KGKG), a resource for investors and traders seeking the latest updates and insights on KONA GOLD BEVERAGE stock.

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.

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Kona Gold Beverage has successfully raised $3 million through a Securities Purchase Agreement with YA II PN, LTD. The funds will support growth initiatives for its subsidiaries, including a rebranding of the Kona Gold Hemp Energy Line and expansion of the Ooh La Lemin product line. The company plans to enhance marketing efforts and hire key personnel to boost distribution in new markets. Robert Clark, the CEO, noted record revenues in 2021 and anticipates Gold Leaf Distribution could generate between $3 million to $5 million in revenue for 2022.

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Kona Gold Beverage, Inc. (OTCQB: KGKG) announced a strong Q2 performance, exceeding revenue estimates by $40,000, totaling approximately $790,000. This marks a 248% increase year-over-year and a 71% increase from the previous quarter. The company is on track to meet its 2021 revenue targets of $2.5-$3 million. Their growth strategy includes expanding their workforce from 9 to 14 employees, with plans to hire more. Sales of Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters have surged due to effective sales management.

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Kona Gold Beverage, Inc. (OTCQB: KGKG) has announced a new distribution partnership with Wisconsin's Central City Distribution Company to expand the reach of its Kona Gold Hemp Energy drinks. This partnership aims to penetrate key retail locations across Wisconsin, where Central City Distribution Co operates. The company reported record revenues for Q2 2021, with approximately $830,000 and an expectation of $1,000,000 for the third quarter. This partnership and revenue growth indicate a strategic move to enhance market share in the health-focused beverage sector.

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Kona Gold Beverage, Inc. (OTCQB: KGKG) reported record Q2 revenues of approximately $830,000, marking the highest quarterly revenue in the company's nearly six-year history. The company has additional open sales orders worth $45,000. Gross profit for the quarter was around $167,000, with revenues split between Kona Gold LLC ($496,000) and Gold Leaf Distribution ($334,000). Looking forward, Q3 revenues are anticipated to reach $1,000,000, which would be a first for the company. CEO Robert Clark expressed optimism about continued growth.

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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.

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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.

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On April 16, 2021, Kona Gold Beverage (OTCQB: KGKG) shared an update with shareholders about its progress and 2021 outlook. The company grew its beverage portfolio and uplisted to OTCQB despite challenges from the COVID-19 pandemic. Key achievements in 2020 included raising $1 million and acquiring Lemin Lemonade, enhancing revenue streams. For 2021, Kona Gold projects revenue of $2.5-$3 million and anticipates continued growth, especially from Ooh La Lemin Lemonade and its subsidiary, Gold Leaf Distribution, which aims for over $100K in monthly sales.

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Kona Gold Beverage, Inc. (OTCQB: KGKG), based in Melbourne, Florida, reported significant month-over-month revenue growth in Q1 2021, driven by increased demand for its beverage products. March revenues surpassed February, with Kona Gold LLC experiencing over a 22% revenue increase, while Gold Leaf Distribution posted a remarkable 37% growth. March revenues totaled over $140,000 for Kona Gold compared to $115,000 in February. The company expects continued revenue increases in Q2 as it engages with new distribution partners for the busy beverage seasons ahead.

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Kona Gold Beverage (OTCQB: KGKG) has received its largest purchase order to date, exceeding $62,000, for its OOH LA Lemin Lemonade brand. This order is from a new vendor with over 800 convenience retail stores across the eastern U.S., serving more than 200 stores in Florida and additional locations in the Southeast. February 2021 marked the company's highest monthly revenue in 15 months, and Kona Gold expects to surpass these figures in March, targeting a record first quarter.

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Kona Gold Beverage, Inc. (KGKG) reported its highest monthly revenues in February 2021, surpassing the previous 15 months. Kona Gold LLC generated over $115,000, marking its best performance since November 2019, while Gold Leaf Distribution achieved nearly $60,000 in revenue. The impressive growth is driven by the acquisition of S&S Beverage and increased sales in its product lineup. The company anticipates strong sales momentum continuing through 2021, especially during the busy beverage seasons of spring and summer.

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FAQ

What is the current stock price of KONA GOLD BEVERAGE (KGKG)?

The current stock price of KONA GOLD BEVERAGE (KGKG) is $0.0002 as of December 20, 2024.

What is the market cap of KONA GOLD BEVERAGE (KGKG)?

The market cap of KONA GOLD BEVERAGE (KGKG) is approximately 917.7K.

What does Kona Gold Beverage Inc. specialize in?

Kona Gold Beverage Inc. specializes in the better-for-you and functional beverage sector, offering a range of healthy energy drinks and hemp-derived products.

Who leads Kona Gold Beverage Inc.?

The company is led by CEO Jared Fisher and Co-founder Elliot Eichler, who bring extensive expertise and strategic vision to the organization.

What are the recent achievements of Kona Gold Beverage Inc.?

Recent achievements include the launch of HighDrate D9 Energy Seltzer, the unveiling of Federally Legal D9 Gummies, and the introduction of a new eCommerce platform for Covert LLC.

What are the key products offered by Kona Gold Beverage Inc.?

Key products include Kona Gold’s premium energy drinks and HighDrate D9 Drinks, as well as Covert LLC’s Delta-8, THCa, THC-P, and Kratom products.

How is Kona Gold Beverage Inc. performing financially?

The company reported $3 million in revenues for 2023 and achieved a record $1.5 million in Q1 2024, with further growth anticipated from new product launches and strategic acquisitions.

What strategic partnerships has Kona Gold Beverage Inc. formed?

Kona Gold has formed a joint venture with Apple Rush Co., Inc. and acquired Surge Distribution LLC to expand its product reach and market presence.

What are Kona Gold Beverage Inc.’s future plans?

Future plans include rebranding as NuVibe, Inc., launching new products like the HighDrate D9 Drinks, and expanding into new markets such as Central Florida and Charlotte, NC.

How is Kona Gold Beverage Inc. enhancing shareholder value?

The company is enhancing shareholder value through strategic acquisitions, debt reduction, new product launches, and a commitment to financial stewardship and innovation.

Where is Kona Gold Beverage Inc. headquartered?

Kona Gold Beverage Inc. is headquartered in Melbourne, Florida.

How can investors contact Kona Gold Beverage Inc.?

Investors can contact Kona Gold Beverage Inc. through their Investor Relations at phone number 844-714-2224 or via email at investorrelations@konagoldbeverage.com.

KONA GOLD BEVERAGE INC

OTC:KGKG

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917.73k
4.49B
2.08%
Drug Manufacturers - Specialty & Generic
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