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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.
Kona Gold Beverages (KGKG) has initiated negotiations with its largest debt holder to purchase and remove the debt from its financial statements. This move aims to eliminate future debt conversions and strengthen the company's financial position. The company is also addressing production challenges for its HighDrate drinks, collaborating with new manufacturers to bring the product to market. Additionally, Kona Gold is in the process of changing its name to NuVibe, Inc., with legal work underway.
The company operates through subsidiaries Kona Gold , Covert , and Surge Distribution , offering a range of healthy energy drinks, Delta-8, THCa, THC-P, and Kratom products. Kona Gold is focused on expanding its market presence through strategic acquisitions.
Kona Gold Beverages, Inc. proudly announces April revenues exceeding $586,000, with Covert contributing significantly. Surge Distribution also reported revenue over $210,000, showcasing diversified business success. The company introduces three new beverage lines and anticipates the launch of HighDrate D9 Drinks, aiming to meet consumer demands and drive growth. The subsidiaries' performance highlights innovation and quality, with a strategic focus on expanding offerings and meeting evolving consumer preferences.
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