Kona Gold Solutions, Inc Beats Revenue Projections for Q2 with $729,000 in Revenue
The Company continues impressive growth in U.S. Markets
Melbourne, FL -- August 19, 2019 -- InvestorsHub NewsWire -- Kona Gold Solutions, Inc. (OTC Pink: KGKG), a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, is pleased to announce it has beat Second Quarter projected revenue of $400,000 by $329,000 on revenue of $729,000. Sales from the Company’s Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters beat Company estimates by a huge margin. The signing of 16 new distribution partners, the launch of two new Kona Gold Hemp Energy Drink flavors, and the strong demand for the Company’s products during the second quarter of 2019 pushed revenue to new heights.
Kona Gold continues to have impressive growth in the third quarter of 2019. During the current quarter, the Company has added 14 new distribution partners, with several more in negotiation, continues to expand market presence in new states, and announced the recent partnership with the American Breast Cancer Foundation, in which the Company will launch its all new Kona Pink beverage, a Pink Grapefruit Flavored Hemp Energy Drink, at the end of September. Kona Gold has set projected revenue of $800,000 for the third quarter.
“We had an unbelievable second quarter signing, on average, a new distributor every week and almost moving double the amount of product as we projected,” stated Robert Clark, CEO of Kona Gold Solutions, Inc. “Our team continues to fire on all cylinders and our products are making a huge impact in the market place. Our premium beverage products are now available in 35 states in convenient stores, restaurants, grocery chains, specialty stores, bowling alleys, smoke shops, and more.”
Clark continued, “Early in the year the Company projected $1.5 - $2 million in revenue for 2019, which it will hit by the end of Q3. This is a huge accomplishment for the Company as it pushes to have its first profitable year in 2019.”
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Kona Gold Solutions, Inc.:
Kona Gold Solutions, 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 the Company’s website at www.konagoldhemp.com. HighDrate, LLC has developed the beverage industry’s first CBD Energy Water, available in 4 delicious flavors; please visit the Company’s website at www.highdrateme.com. Gold Leaf Distribution, LLC was created to fill the Company’s distribution needs in markets it wants to quickly enter. The Companies are located on the east coast of Florida in Melbourne.
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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. 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.
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