One stock you may not have caught up with is Kona Gold Solutions Inc (OTCMKTS:KGKG). It’s obliquely in the cannabis space by way of hemp beverages. Shares have been red hot in recent action, breaking out again early this week, and now up over 300% in the past few weeks. To further augment that story and help to foster this latest acceleration higher, the company recently announced that it has entered into a distribution agreement with Liquid Culture Enterprises.
According to the release, “Liquid Culture will be distributing the Company’s Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters in the seven counties of South Carolina they cover. The agreement with Liquid Culture comes under Kona Gold’s recent V.P. of Sales hire, Chris Selinger, who is an experienced leader in the beverage industry and is the second distribution agreement he has secured in as many weeks.”
Kona Gold Solutions Inc (OTCMKTS:KGKG) promulgates itself as a company that, through its subsidiary, Kona Gold LLC, focuses on the development of hemp energy drinks, energy patches, hemp apparel, and hemp shampoo.
Kona Gold Solutions, Inc. is a premier hemp lifestyle brand focused on product development in the functional beverage sector.
Kona Gold Solutions, Inc. has created wholly-owned subsidiaries, Kona Gold LLC and HighDrate, LLC. Kona Gold, LLC has developed a premium Hemp Infused Energy Drink line, Energy shots, and Apparel. HighDrate, LLC has developed the beverage industry’s first CBD Energy Water, available in 4 delicious flavors.
Kona Gold has expanded to their new warehouse and office space in Florida that gives the Company the space needed to store and distribute their new hemp energy drink, CBD energy waters, and expand rapidly. It also focuses on engaging in hydroponics activities.
The company is headquartered in Charleston, South Carolina.
According to company materials, “Kona Gold Solutions, Inc., a Delaware Corporation, has created wholly-owned subsidiaries, Kona Gold LLC and HighDrate, LLC. Kona Gold, LLC has developed a premium Hemp Infused Energy Drink line; please visit the Company’s website at www.konagoldhemp.com. HighDrate, LLC has developed the beverage industry’s first CBD Energy Water, available in 4 delicious flavors; please visit the Company’s website at www.highdrateme.com. The Companies are located on the east coast of Florida in Melbourne.”
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As noted above, KGKG shareholders were pleased to get word of the company’s announcement that it had entered into a distribution agreement with Liquid Culture Enterprises. In all, traders will note nearly 270% piled on for shareholders of the name during the trailing month.
Moreover, the company has witnessed a pop in interest, as transaction volume levels have recently pushed 470% over the long run average.
“I am excited to be announcing the distribution agreement between Kona Gold and Liquid Culture, who will be distributing our products in seven key counties in South Carolina, including popular Charleston, SC,” stated Robert Clark, CEO of Kona Gold Solutions, Inc. “Kona Gold’s products will be a great compliment to Liquid Culture’s portfolio of quality hand-picked products that are distributed throughout the Lowcountry area of South Carolina.”
Earning a current market cap value of $16M, KGKG has virtually no cash on the books, which stands against virtually no total current liabilities. The company has pulled in negligible revenues to date, though with some minor top-line growth if you look at it under a microscope. We will update the story again as soon as developments transpire. Sign-up for continuing coverage on shares of $KGKG stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $KGKG, either long or short, and we have not been compensated for this article.