The_Gman
7 days 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.
TucsonPhil
2 weeks ago
Here is what happened, you and many others believed their continued line of BS and may have bought more of their printed shares, based upon that announcement.
Then management, pushed the additional income into the books and most likely, took some of that money to pay themselves handsomely.
The rest of the money probably went to keep the lights and printers on, until the next OS increase. Rinse and repeat.
BirdsOfFire
3 weeks ago
I hope this is not the reason why the drinks are not on the store shelves yet. We know RC doesn't care for product quality, I am concerned if the new company, Nuvibe hired RC to develop something for the company and put brominated vegetable oil in our drinks. On some level, I think Nuvibe hired RC with payment in shares to perform some service for the company? See the article below:
https://www.usatoday.com/story/news/health/2024/07/03/fda-bvo-ban-brominated-vegetable-oil/74290512007/
HEALTH
Which sodas contain BVO? What to know as FDA bans brominated vegetable oil
The U.S. Food and Drug Administration announced Wednesday it is revoking the regulation authorizing the use of brominated vegetable oil in food, effective Aug. 2.
The ingredient was previously authorized by the agency for use in small amounts to "keep the citrus flavor from separating and floating to the top of some beverages," according to the agency, but the FDA determined in 1970 the ingredient was no longer "Generally Recognized As Safe" - an official designation of the FDA - and began overseeing its use under its food additive regulations.
IMO
TucsonPhil
3 weeks ago
Per your statement, "I think they are now at the moment where only real results ( products, $, websites, mgt, plans) will matter." That moment was a long time ago!
So, they have missed another busy drink season and associated Holidays.
I do not think marketing or due diligence are in their repertoire.
They are very good at adding shares and dilution, though.
justhefax
3 weeks ago
unfortunately they only claimed to be eagerly awaiting its first run of ONE product in May.
Clearly that did not happen.
They announced the name / ticker change before doing full diligence on the availability, and so assume having to rethink or adjust.
I imagine this will mean an adjustment of the forecast revs as well.
I think they are now at the moment where only real results ( products, $, websites, mgt, plans) will matter.
It is hard to know what the company primary mission is at this point. Bevs? If so what kind? Local Distribution? That won't excite or make anyone rich. Covert THC? Who knows anything really about that 'aquisition' except they are new (who are they?) mgrs and presumably stakeholders.
LOTS to clean up/ catch up.
But at .0011 the companys tax loss value is probably worth more.
So even if they can just hit a solid single, without amateur copy or error, with an actual product (s) actually out there being pushed the value could triple.
But to be clear this is not 'investment', it is speculation.