Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter

First Profitable Quarter in the Company’s History with Significant Financial Improvements and Debt Reductions

Kona Gold Beverage, Inc. (OTCPK:KGKG)

MELBOURNE, FL, UNITED STATES, September 10, 2024 /EINPresswire.com/ -- Kona Gold Beverage Inc. (OTC: KGKG), is pleased to announce its first-ever profitable quarter, marking a significant milestone in the company’s growth trajectory. For the most recent quarter, Kona Gold Beverage Inc. reported approximately $1,225,000 in revenue with a net profit of approximately $133,000. Following the publication of the Company’s current disclosure, it anticipates being current with the OTC Markets within the next few days

This achievement comes as the company continues to make strides in reducing liabilities and strengthening its financial position. Year-over-year, Kona Gold Beverage Inc. has successfully reduced its liabilities by over $1.5 million. These efforts reflect the company’s commitment to driving shareholder value through strategic financial management and operational efficiency.

Strategic Reverse Merger Acquisition in Progress and Rebranding to NuVibe, Inc.

Kona Gold Beverage Inc. is nearing a significant strategic move—a reverse merger acquisition. The company is currently in advanced discussions and expects to have a Letter of Intent (LOI) signed within the next few weeks. This potential acquisition, alongside the company’s ongoing rebranding to NuVibe, Inc., is anticipated to further accelerate Kona Gold’s growth and expand its market reach, building upon the strong financial foundation established this quarter.

Once the reverse merger has been completed and a final acquisition agreement has been signed, the new management team will host a nationwide teleconference to update all shareholders on the company’s future plans and strategic initiatives.

Continued Focus on Debt Reduction and Conversions

Kona Gold Beverage Inc. remains committed to enhancing its balance sheet through the continued negotiation of debt reductions and conversions. These efforts have been instrumental in achieving the company’s first profitable quarter and will remain a focal point moving forward.

About Kona Gold Beverage Inc.

The company is currently in advanced negotiation talks with several potential reverse merger acquisition candidates as it aims to expand its market presence and enhance shareholder value. With a focus on strategic growth and innovation, Kona Gold Beverage Inc. is committed to bringing the highest quality, most innovative products to market. It is also in the process of going through a name and symbol change to NuVibe, Inc. (OTC.PK: VIBE)
For more information regarding Kona Gold Beverage, please visit: https://konagoldbeverage.com/

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. The Company may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. There can be no assurance that such statements will prove to be accurate. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company's Annual Reports on Form 10-K and its other filings with the Securities and Exchange Commission. 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. The Company does not undertake any obligation to update publicly or to revise any statements in this release, whether as a result of new information, future events, or otherwise.

Investor Relations
Kona Gold Beverage, Inc.
+1 844-714-2224
investorrelations@konagoldbeverage.com
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