01 January 2020 | News
Company finalizing requirements to move to the OTCQB market tier
Kona Gold Solutions, a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, is pleased to announce it has projected revenue of $1.5 million ($1,500,000) from its Gold Leaf Distribution subsidiary in 2020. Gold Leaf Distribution is the Company's product distribution arm that not only distributes Kona Gold, HighDrate, and Storm products, but also products from other vendors.
Gold Leaf Distribution, which was established in January of 2019, has experienced significant growth in the fourth quarter of 2019. Gold Leaf currently operates in Florida and South Carolina, has 3 delivery trucks, two full time employees, one part time employee, and currently has established over 300 accounts. Those accounts include grocery stores, restaurants, C-stores, specialty stores, and smoke shops. Gold Leaf is currently adding 30-40 accounts a month and is averaging $20,000 a month in the last two months of 2019. The Company plans to add two more beverage delivery trucks and two additional full time employees in the first quarter of 2019 and anticipates a large increase in revenue as Spring and Summer approach, which is the busy season in the beverage industry.
"I'm excited to announce to our shareholders the growth our distribution Company, Gold Leaf, has experience late in 2019," stated Robert Clark, CEO of Kona Gold Solutions, Inc. "This growth is attributed to adding key additional products to Gold Leaf's portfolio and opening a significant number of accounts in Q4. Gold Leaf is nearing profitability and we anticipate it to be profitable by Q1 of 2020. Gold Leaf's product portfolio consists of a wide array of products that helps the Company open new accounts in almost any type of retail establishment from Grocery to restaurants and C-stores to specialty stores. We have recently launched Gold Leaf's website, which lists our product portfolio and has an interactive store locator."
Kona Gold has also announced it is finalizing requirements to move to the OTCQB market tier and will be updating shareholders very soon with exciting details on this and filing its S-1.