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MELBOURNE, Fla., Nov. 13, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Kona Gold Solutions, Inc. (OTC Pink: KGKG), a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, is pleased to announce 1,845% year-over-year revenue growth. The Company posted revenue of just $73k through the first three quarters in 2018 and $1.42 million through the first three quarters of 2019. During the same period, the Company’s increase in revenue was reflected in its market capitalization.
In the first three quarters, Kona Gold has made a significant impact in the functional beverage market with its hemp and CBD product lines. During that time, the Company has expanded operation into South Carolina with its 30,000 sq ft distribution center, partnered with over 60 distributors in 36 states, expanded its Kona Gold Hemp Energy Drink and HighDrate CBD Energy Water lines from 9 SKUs to 15 SKUs, launched its new product line - Storm CBD High Alkaline Water, and signed key partnerships with the American Breast Cancer Foundation and World Champion Ski Jumper, Ryan Dodd.
In January of 2019, Kona Gold forecasted $1.5 to $2 million in revenue, which the Company has already hit in early October. The Company has recently set projections of $6-$8 million for 2020 based on demand for its current products, new product launches for 2020, and current developments in the last quarter of 2019.
“I’m excited to announce to our shareholders the phenomenal growth Kona Gold has experienced over the last year,” stated Robert Clark, CEO of Kona Gold Solutions, Inc. “The Company’s revenue has grown over 1,800%, year-over-year, which is not only amazing, but a testament to the hard work our team has put in. We anticipate our growth to continue into Q4 of this year and into 2020, as our team continues to execute and grow our market presence.”
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Kona Gold Solutions, Inc.:
Kona Gold Solutions, 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 the Company’s 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 the Company’s website at www.highdrateme.com. Gold Leaf Distribution, LLC was created to fill the Company’s distribution needs in markets it wants to quickly enter. The Companies are located on the east coast of Florida in Melbourne.
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. 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.
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