The pattern in Kona Gold Solutions Inc (OTCMKTS:KGKG) continues to remain constructive following a sharp bullish breakout in April. The key level to hold is clearly the $0.10 area, which was held with gusto earlier this week. To add color to the story, the company just announced it has beat Second Quarter protected revenue of $400,000 by over $320,000. The company also noted that it had its first-ever profitable quarter on revenue of over $720,000 from sales of its popular Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters.
According to the release, “The Company will surpass $1 million in revenue for 2019 this month. Kona Gold continues to experience exponential growth as the Company adds distribution partners in new and current states. The Company’s two product line, Kona Gold and HighDrate, can now be purchased in 31 states in popular convenience stores, grocery stores, and specialty stores. Product re-orders from distributors are at its highest pace as demand for the Company’s products strengthens.”
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 that it has beaten Second Quarter protected revenues of $400,000 by over $320,000 with its first and only profitable quarter on revenue of over $720,000 from sales of its popular Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters.
The chart shows 3% during the past week in terms of shareholder gains in the company. In addition, the listing has registered increased average transaction volume recently, with the past month seeing 19% beyond its prior sustained average level.
“I am excited to announce to our shareholders that Kona Gold has surpassed revenue projections by over $320,000, almost doubling Q2 projections,” stated Robert Clark, CEO of Kona Gold Solutions, Inc. “Our Strong revenues is a testament to how well our products are doing in the market place and how fast the Company is growing. We are proving to be the leader in the hemp energy and CBD beverage market and with success of our product line extensions, great tasting beverages, and top notch team, we plan to continue to execute on all fronts as Kona Gold grows into a national brand.”
Now commanding a market cap of $76.7M, KGKG has virtually no cash on the books, which compares with virtually no total current liabilities. KGKG is pulling in trailing 12-month revenues of $472K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 2437.9%. You can bet we will update this one again as new information comes into view. 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.