KONA GOLD BEVERAGE INC.

0.0001+0.00 (+0%)

Oct 29, 4:00:00 PM EDT · OTC Markets OTCPK · KGKG · USD

Upcoming Earnings

Report date

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Key Stats

Market Cap

781.67K

P/E (TTM)

Basic EPS (TTM)

0.00

Dividend Yield

Recent Filings

8-K

Leadership overhaul at Kona Gold

1/18/24Jan 18, 2024

Kona Gold Beverages shook up its leadership on November 30, 2023, appointing Brandon White as President and Chairman, Jermain Strong as CEO and Director—replacing Robert Clark who resigned—and accepting CFO Lori Radcliffe's departure, all effective immediately. White brings sales prowess from Fortune 50 stints, while Strong eyes athlete-network expansion to boost the beverage brand. Leadership reset. Offices shifted to Rockledge, Florida.

8-K

Authorized shares reduced sharply

1/18/24Jan 18, 2024

Kona Gold Beverage slashed its authorized common shares from 10.5 billion to 5.614 billion on December 30, 2023, trimming excess capacity amid ongoing operations. Earlier, on November 30, it designated 8 million shares of Series E preferred stock, potentially bolstering financing options. This dual move streamlines capital structure. No immediate dilution risks disclosed.

8-K

Debt-to-equity exchange

1/18/24Jan 18, 2024

Kona Gold Beverage swapped $1,310,500 in debt for 8,000,000 Preferred E Shares on November 7, 2023, clearing the balance sheet of an unsecured line of credit from April 2019. This exchange strengthens the company's financial position by converting liabilities to equity. Debt erased cleanly.

8-K

Director resigns amicably

11/30/23Nov 30, 2023

Kona Gold Beverages lost a board member on November 1, 2023, when Matthew Crystal resigned as Director, effective immediately. The departure stemmed from no disagreements over operations, policies, or practices. This leaves the board leaner amid the company's emerging growth status. Smooth transition ahead.

10-Q

Q3 FY2023 results

11/14/23Nov 14, 2023

Kona Gold Beverage's Q3 results show revenue dipping 39% year-over-year to $687,797, driven by a 30% drop in retail sales and divestiture of its lemonade line, while gross profit held at 27.1% of sales. Operating loss narrowed to $469,866 from $817,817, thanks to SG&A expenses falling 39% amid reorganization. Net loss improved to $518,092, with the gap from operating loss tied to interest expense and debt extinguishment losses exceeding 20%. Cash climbed to $369,931 on $350,392 in financing inflows, though total debt stands at $8.5M including $1.8M related-party notes; divestiture fetched $500,000 in proceeds. Shares outstanding ballooned to 2.38B, diluting EPS to $(0.00). Vendor concentration poses supply risks.

About

NuVibe, Inc., a lifestyle company, develops and sells hemp and cannabidiol (CBD) products in the functional beverage and fitness markets in the United States. It offers hemp energy drinks and CBD energy water; and alkaline waters, beverages for kids, energy drinks, fruit-flavored sodas, low-carb lemonade, healthy aloe juice drinks, snack products, and CBD-infused jellybeans. The company also sells shirts, tanks, hats, and towels. It sells its products to beverage distributors and resellers, retail grocery, smoke shops and specialty stores, wholesalers, merchandisers, vape shops, and convenience stores; and provides beverage services. The company was formerly known as Kona Gold Beverage, Inc. and changed its name to NuVibe, Inc. in April 2024. NuVibe, Inc. was incorporated in 1997 and is headquartered in Rockledge, Florida.

CEO

Mr. Christopher Selinger

IPO

9/26/1997

Website

https://konagoldbeverage.com

Employees

Sector

Consumer Defensive

Industry

Beverages - Non-Alcoholic