Kona Gold Beverage, Inc. (OTCQB:KGKG) announced that it has beat its February revenue projections.
The company forecasted $325,000 in revenue for February and closed out the month with approximately $345,000 in revenue between its two subsidiaries, Kona Gold LLC and Gold Leaf Distribution LLC.
In addition, Kona Gold Beverage said that it’s on track to having its first quarter with one million plus in revenue.
The company is also seeing demand grow on a daily basis for its Ooh La Lemin Lemonades and new Sparkling Lemonades.
The rebranding of the company's popular hemp energy drink, Kona Gold, will debut in the second quarter.
In addition, the company anticipates to see big revenue growth over the same period with its beverage brands and has forecasted out production in 2022 to keep up with demand.
Gold Leaf Distribution, the company's distribution subsidiary is experiencing growth as it seeks to become one of the largest distributors in South Carolina. Gold Leaf now distributes to Target, Quik Trip, Piggly Wiggly, IGA, and soon-to-be other big box and grocery stores.
"I am very pleased to share with our shareholders that we have exceeded our February revenue forecast and are on track to have a very exciting year," Robert Clark, CEO of Kona Gold Beverage, said. "Between the demand for our beverage portfolio and distribution side, our team is working on many opportunities that will be coming to fruition in the coming weeks and months.”
Ooh La Lemin Lemonades Available In Walmart
Kona Gold recently announced its popular Ooh La Lemin Lemonades will be sold in Walmart brick and mortar stores.
The company's 16 oz Ooh La Lemin Lemonades, available in 4 flavors, will be included in modular sets in all stores with 12 ft or wider coolers in select states starting in June of 2022.
Kona Gold's Ooh La Lemin Lemonades are currently sold in popular chains such as Wawa, Plaid Pantry, Piggly Wiggly, Coborn's, Hyvee, and others.
The company is currently in talks with several other national retailors to carry its Ooh La Lemin Lemonades, and will update shareholders as those come to fruition.
Photo: Courtesy of Kaizen Nguyễn on Unsplash
