Kona Gold Beverage, Inc. Announces Gold Leaf Distribution Subsidiary Post Biggest Monthly Revenue in May
Gold Leaf Distribution post profits through first two months of Q2
Melbourne, Florida--(Newsfile Corp. - June 7, 2021) - 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 its wholly owned subsidiary, Gold Leaf Distribution, posted record revenue in May. Gold Leaf's May revenues were approximately $120,000, with a profit margin of approximately 30% of revenue. Gold Leaf has been profitable through the first two months of Q2, and is on track to have its first profitable quarter in Company history.
Gold Leaf Distribution Revenue
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Kona Gold Beverage's other wholly owned subsidiary, Kona Gold, recently announced receiving its largest purchase order to date. The purchase order, which came in from a new vendor, and is for the Company's Ooh La Lemin Lemonade, was approximately $250,000. The new vendor has over 300 stores across 15 states in the Midwestern united states. They have begun to receive shipments across their multiple warehouses, and Ooh La Lemin is now available for purchase in their stores. Once the product is distributed to all their stores, Kona Gold anticipates a reorder within the next several weeks.
Kona Gold Beverage recently announced it anticipated second quarter revenues to be approximately $750,000, comprising of $300,000 from its subsidiary, Gold Leaf Distribution; and $450,000 from the Company's other subsidiaries. The Company has since revised anticipated second quarter revenues to be approximately $850,000, comprising of $350,000 from its subsidiary, Gold Leaf Distribution; and $500,000 from the Company's other subsidiaries.
"Once again, I am excited to share with our stockholders revenue growth that the Company continues see month-over-month in 2021," stated Robert Clark, CEO of Kona Gold Beverage, Inc. "This is an exciting time for the Company as we are experiencing phenomenal growth across all subsidiaries with no sign of slowing down. We are looking to grow our team by almost 50% over the next few months as we continue to grow our brands and expand into new markets."
Kona Gold Beverage is excited to announce it will be exhibiting its beverage portfolio at this year's NACS (National Association of Convenience Stores) Show October 5-8 in Chicago. The NACS Show is a premier trade show in the country, related to convenience and fuel retailing industry, where Kona Gold Beverage will be sampling its products to the industry's leading buyers.
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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.
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