Kona Gold Solutions Inc (OTCMKTS:KGKG) shares were down 12.28% on Friday to $0.00500 and unchanged in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.01. The company has a market cap of $14,200.00 at 2.50 million shares outstanding.
Formerly Union Equity Inc, Kona Gold Solutions Inc is a lifestyle hemp company that intends to develop, design and market products in the energy drink, energy shot, energy patch and apparel markets. The company is in the process of developing a hemp infused product line.
Through its subsidiary, Kona Gold LLC, the company intends to develop Hemp Energy Drinks, Energy Patches, Hemp Apparel and Hemp Shampoo. Kona Gold, LLC focuses on marketing products, which include Kona Gold 8.4oz energy drink, Kona Gold 2.0oz energy shot, Kona Gold energy patches, Kona Gold apparel (to include t-shirts and hats) and Kona Gold single plant hydroponic system. The company’s product line includes Energy Drinks and Energy Shots. The Company offers approximately two varieties of Kona Gold energy drinks, such as regular and sugar-free. It offers approximately three flavors of Kona Gold energy shots, such as berry, grape and orange.
In a press release, Kona Gold Solutions Inc announced that has reduced its debt by $48,000, thereby trimming its liabilities to $100,468. The company’s management team negotiated with two debt holders to pay off its liabilities without issuing new shares and is in negotiations to reduce its total outstanding liabilities by an additional $70,000.
We are beyond thrilled with the progress we have already made in 2017” stated Robert Clark, CEO of Kona Gold Solutions Inc. “We have not only drastically reduced our liabilities to help increase value for our shareholders, we have new products hitting shelves in less than 2 weeks and we have begun the process of vetting legal consul and an auditing firm to assist us in moving to a higher exchange. We are convinced moving up market tiers will solidify Kona Gold as the dominant nationally recognized leader in the hemp infused product industry. 2017 is the year for Gold, Kona Gold!”
To add to that, Kona Gold Solutions Inc also mentioned that the firm has placed their preliminary order for their sugar-free hemp infused energy beverage, which will be accessible for purchase coming month. The company has added this product to their line to complement its already great tasting and popular hemp energy beverages currently available in the industry.
According to Clark, the team has outperformed themselves and have developed, hands down, the premium tasting sugar free energy beverage available on the market. He also mentioned that feedback from their retail locations, partners and distributors has been very promising, highlighting that the branding really has an impact when coming to new retail locations. Kona Gold Solutions Inc has initiated discussions with industry partners and leaders on bringing several exciting and new products to industry very soon, which will offer the firm with a robust product portfolio.
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