As we stated a few days ago, Kona Gold Solutions Inc (OTCMKTS:KGKG) was possibly on the verge of a breakout move to the upside. Since that time, we have already seen evidence of that technical predisposition, with shares of the stock moving as much as 15% higher to kick off this week. To further flesh out the narrative, the company just announced the sponsorship of World Ranked #1 professional skier, Ryan Dodd.
According to the release, “Ryan Dodd has signed a two-year agreement with Kona Gold where he will represent the brand’s Kona Gold Hemp Energy Drinks on a global level as he travels and competes in events around the world. Ryan Dodd, who resides in Palm Bay, FL, is the current International Waterski Federation Athlete of the year, 2-time World Champion, and is currently ranked #1 in the World. Ryan has accumulated 45 career pro wins during his career and has set out to have an undefeated season this year and to extend his current Guinness Book of World Records Jump of 254 feet to 260 feet. Ryan has a host of sponsors, with Kona Gold being his beverage sponsor through 2021. Out of the water, Ryan is a dedicated husband and father who runs a charity, RD Homes of Hope, where he has set a goal to build and donate 100 homes in a year.”
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 just announced the sponsorship of World Ranked #1 professional skier, Ryan Dodd.
We’ve witnessed 54% during the past month in terms of shareholder gains in the listing. What’s more, the name has witnessed a pop in interest, as transaction volume levels have recently pushed just shy of 110% above its longer-run average levels.
“I’m excited to be announcing the sponsorship of Ryan Dodd, who is not only a leader in his sport, but also an entrepreneur, coach, and family man, making him a perfect fit to our Kona Gold Team,” stated Robert Clark, CEO of Kona Gold Solutions, Inc. “Ryan brings so much to our brand and what our brand represents and we look forward to cultivating our relationship as Kona Gold brings more exposure to the water ski world and Ryan brings more exposure to Kona Gold.”
At this time, carrying a capital value in the market of $288.27k, KGKG has virtually no cash on the books, which is balanced by virtually no total current liabilities. KGKG is pulling in trailing 12-month revenues of $211K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 1356.6%. We will update the story again soon as further details emerge. 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.