Kona Gold Beverage, Inc. Announces Revenues through May of 2021 have Surpassed all Revenue of 2020
May 19 2021 - 9:00AM
InvestorsHub NewsWire
Kona Gold Beverage,
Inc. Announces Revenues through May of 2021 have Surpassed all
Revenue of 2020
Company Posts 128%
Increase in Revenue in Q1 of 2021 Compared to Q1 in
2020
Melbourne, FL -- May 19, 2021 -- InvestorsHub
NewsWire -- Kona Gold
Beverage, Inc. (OTCQB:
KGKG), a holding company focused on product development in the
better-for-you and hemp and CBD functional beverage sector, is
pleased to announce net revenues through May of fiscal year 2021
has surpassed net revenues for the total fiscal year 2020.
The Company recently posted its 10-Q with approximately $462,000 in
net revenues, which is approximately a 129% increase from the same
period quarter last year.
Kona
Gold Beverage recently announced it anticipates second quarter
revenues to be approximately $750,000, which it now anticipates to
hit by mid-June. This would make Q2 the Company’s largest quarterly
revenues in the Company’s history. Additional closings of
additional partnerships that the
Company is currently working on, could push Q2 revenues close to $1
million, which would be a huge milestone for the Company. The
Company anticipates a gross profit of approximately 30% from these
revenues.
“I am
excited to share with our stock holders the phenomenal growth we
are experiencing in 2021, which has been fueled by the acquisition
of our lemonade brand, Ooh La Lemin in early 2021,” stated Robert
Clark, CEO of Kona Gold Beverage, Inc. “Since the inception of Kona
Gold Beverage, our goal has been to create products that resonate
with consumers on a national scale, and we are executing on that
goal. Our focus is to continue expanding, grow market share, and
make our beverage portfolio available to everyone at their local
retailer across the U.S. Our strategy will not only continue
to increase bottom line revenue, but also shareholder
value.”
Kona Gold Beverage recently
received its largest purchase order to
date. The purchase order, which came in from a new vendor,
and was for the Company’s Ooh La Lemin Lemonade, was approximately
$250,000. The new vendor, which has over 300 stores across 15
states in the Midwestern united states, will receive half a pallet
of Ooh La Lemin Lemonade for each store. The Company is
working to fulfill this order in the next couple of
weeks.
For more
information regarding Kona Gold Beverage, please
visit:
https://konagoldbeverage.com/
About
Kona Gold Beverage, Inc.
Kona
Gold Beverage, 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 its website
at www.konagoldhemp.com.
HighDrate, LLC has developed the beverage industry’s first
CBD-Infused Energy Water, available in 6 delicious flavors; please
visit its website at www.highdrateme.com.
Gold Leaf Distribution, LLC was created to fill the Company’s
distribution needs in markets that it wants to enter quickly;
please visit its website at www.goldleafdist.com.
Kona Gold Beverage, Inc. recently acquired S&S Beverage, Inc.,
which manufactures and distributes LEMIN Superior Lemonade line;
please visit its website at www.drinklemin.com. Kona
Gold and its family of companies are located on the east coast of
Florida in Melbourne and in Greer, South
Carolina.
Safe
Harbor Statement:
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. The Company may
also make written or oral forward-looking statements in its filings
with the U.S. Securities and Exchange Commission, in press releases
and other written materials, and in oral statements made by its
officers, directors or employees to third parties. There can
be no assurance that such statements will prove to be
accurate. The Company cautions that these forward-looking
statements are further qualified by other factors including, but
not limited to, those set forth in the Company’s Registration
Statement on Form S-1. 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.
The Company does not
undertake any obligation to update publicly or to revise any
statements in this release, whether as a result of new information,
future events, or otherwise.
Investor
Relations Contact:
Robert
Clark
844-714-2224
investorrelations@konagoldbeverage.com
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