Kona Gold
Beverage, Inc. Announces Highest Quarterly Revenue In Company
History Surpassing $1.5M In Revenue In Q1
Kona Gold Beverage Engages in
Acquisition Talks with Company Achieving Over $700K in Q1 and
Demonstrating Consistent Monthly Revenue Growth
MELBOURNE, FL -- April 9, 2024 --
InvestorsHub NewsWire -- Kona Gold Beverage, Inc. (OTCPK:
KGKG), a leading holding company specializing in innovative
product development within the better-for-you and functional
beverage sector, proudly announces that its wholly owned
subsidiary, Covert LLC, posted revenues of over $1.5M in Q1 of
2024. This marks Kona Gold Beverages' largest revenue quarter since
its inception in 2015. Kona Gold Beverage is on track to surpass
all of 2023's revenue of approximately $3M in just the first two
quarters of 2024.
The company has several more
revenue streams on the horizon that will help bolster Q2 revenues,
including the production of its Kona Gold Energy Drinks and its
all-new HighDrate D9 Seltzer Energy Drink. The company's
subsidiary, Covert LLC, is also hitting its stride as the company
enters its busy season of spring and summer when revenues tend to
climb.
Kona Gold Beverage is also
currently in negotiations to acquire a company in the beverage
sector that recently achieved over $700k in Q1 and has shown
month-over-month revenue growth over the last five months. This
acquisition could potentially add another $1M in revenue for Q2 of
2024, pushing Q2 revenue projections to over $3M.
"I am thrilled to share with our
shareholders that Kona Gold Beverage recently had its highest
grossing revenue quarter in company history," stated Jared Fisher,
CEO of Kona Gold Beverage, Inc. "This is a testament to the
direction and focus of the new management team, and as we enter our
busier seasons, we anticipate our revenue will continue to climb,
adding to shareholder value."
Brandon White, President of Kona
Gold Beverage, added, "We are currently in negotiations with a
company that is experiencing solid growth, has a great revenue
stream, and an experienced team in their market. We are working to
close this transaction in the next two weeks, which will have a
significant impact on bottom-line revenue for the current
quarter."
The Company is also pleased to
announce it is finalizing a manufacturing agreement with a
reputable beverage manufacturing company to produce several
products for Kona Gold Beverages, including the highly anticipated
Kona Gold Hemp Energy Drink, HighDrate D9 Seltzer, and a
Kratom-based beverage.
About Kona Gold Beverage, Inc.
Kona Gold Beverage, Inc., operates as a holding
company in the beverage industry. Through its
subsidiaries, Kona Gold LLC and Covert LLC, it offers a diverse
range of healthy energy drinks and products. Kona Gold's premium line of energy drinks caters
to health-conscious consumers, alongside its
innovative HighDrate D9 Drinks. Covert LLC specializes in
high-quality products, including Delta-8, THCa, THC-P, and Kratom. Headquartered in Melbourne, Florida, Kona Gold Beverage, Inc. is actively engaged in
expanding its market presence through strategic
acquisitions.
For more information
regarding Kona Gold Beverage, please
visit: https://konagoldbeverage.com/
Investor Relations
Contact:
Phone:
844-714-2224
Email: investorrelations@konagoldbeverage.com
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 Annual Reports on
Form 10-K and its other filings with the Securities and Exchange
Commission. 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.