The_Gman
11 hours ago
Oh, and they are a holding company - whatever they're calling themselves these days - "that specializes in innovative product development."
MELBOURNE, Fla., April 25, 2024 /PRNewswire/ -- Kona Gold Beverages, Inc. (OTCPK: KGKG), a leading holding company specializing in innovative product development within the better-for-you and functional beverage sector, today announced that its board of directors and majority shareholders have approved a name change for the company. The process to change the company's name to NuVibe, Inc. and apply for the new ticker symbol VIBE has commenced following approval by the board of directors and majority of shareholders.
The decision to rebrand reflects NuVibe's strategic evolution into a diversified holding company, positioning itself for substantial growth and success across multiple sectors. This change marks a significant milestone for the company as it aims to reshape its identity and distance itself from prior associations and outdated affiliations.
https://www.prnewswire.com/news-releases/kona-gold-beverages-inc-announces-name-change-to-nuvibe-inc-and-initiation-of-ticker-symbol-application-process-302127549.html
The_Gman
1 week ago
The joint venture agreement between Apple Rush and KG was announced 4/11/2024.
From your Apple Rush PR link:
This is the second phase of our planned expansion that we undertook in 2023 and will be followed up with additional expansion over the coming months.
From the KG PR 7/17/2024
Kona Gold Beverages is pleased to announce the successful initiation of a production run for its HighDrate drinks. The initial production runs were smooth, with the cans boasting a striking appearance and the taste receiving positive feedback. However, subsequent to these runs, the manufacturer has been unresponsive and has proven unable to meet Kona Gold's large order demands. Consequently, Kona Gold Beverages is actively collaborating with several other manufacturers to ensure the timely and efficient production of HighDrate drinks, aiming to bring them back on track and to market as soon as possible.
justhefax
1 week ago
It would be good if they spent 30 minutes and update the most basic info on the site they refer PR readers to.
OTC has Covert mgt as CEO/CFO. Web site has Brandon Spikes.
No sign of Surge/Covert 'aquisitions' via links or information.
Dead links, dated emails
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The release makes the following statement
'The management team has conducted thorough research and data analysis, demonstrating that the past conversions and sales associated with its largest debt holder having yielded substantial returns.'
I assume this means substantial returns to the debt holders. Clearly the value of the company expressed in its capitalization, ongoing dilution, and share value for common holders has been terrible. So the phrasing seems to indicate that the priority is the opportunity for debt holders and those awarded options/convertibles and not common holders?
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It would be nice to assume common investors are supposed to be encouraged with this, but not clear.
Assume EOY forecast will be restated, given no products on market.
Love to see web updates and clarity w clear statements of common holders as real priority.
'Next few weeks' looks like we are into August/Sept before any news, launch or next steps, miss summer sales.