Company Posts Annual Percent Growth Rate of 960%
MELBOURNE, Florida, March 31, 2020 /PRNewswire/ — 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 it has hit its 2019 revenue projection estimate of $1.5 – $2 million set back in January of 2019. The Company closed out 2019 with revenues of $1,631,653, an annual percent growth rate of 960% from 2018.
Kona Gold had a phenomenal growth year in 2019. The Company executed on all fronts. This growth included hiring key personnel, opening its 30,000 sq ft distribution center in South Carolina, the signing of over 60 distributors in 36 states, and bringing amazing new products to market in the way of current brand line extensions and new products. The Company’s record revenue in 2019 comes off the sales of its Kona Gold Hemp Energy Drinks (70%), HighDrate CBD Energy Waters (21%), and Storm CBD Waters (2%). The remaining 7% of revenue came from shipping revenue and apparel.
“I am very excited to announce to our shareholders the Company experienced 960% growth in 2019 from the previous year, hitting our revenue projections with over $1.6 million in sales,” stated Robert Clark, CEO of Kona Gold Solutions, Inc. “Very few companies experience this kind of growth and we can attribute it to many key hires we made in 2019, along with our great product lines that resonate with our consumers. We have positioned our Company as the leader in the hemp and CBD functional beverage space and will continue to grow our market share in 2020.”
Clark continued, “The Global and US economy is experiencing unprecedented times with the Covid-19 pandemic. Our Company’s subsidiaries are still fully operational and we continue to execute our strategic plan for 2020. We look forward to continuing the growth we experienced in 2019 into 2020, growing Kona Gold into a strong national brand.”
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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; please visit the Company’s website at www.goldleafdist.com. The Companies are located on the east coast of Florida in Melbourne and 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. 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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SOURCE Kona Gold Solutions, Inc.