Connect with us

Business

Gold Leaf Distribution, A Subsidiary Of Kona Gold Solutions Inc (OTCMKTS:KGKG), Expects To Post Revenues of $1.5 Million In 2020

Published

on

Gold Leaf Distribution, a subsidiary of Kona Gold Solutions Inc (OTCMKTS:KGKG), is expected to post revenues of $1.5 million in 2020 by distributing Storm, Hydrate, Kona Gold and products of other vendors. After the establishment in January 2019, the company reported a significant growth in Q4 2019. Gold Leaf conducts its business operations in South Carolina and Florida using three delivery trucks.

Established 300 accounts

Gold Leaf established 300 accounts that comprise smoke shops, specialty stores, C-Stores, restaurants, and Grocery stores. The company has generated average monthly revenues of $20,000 in November and December 2019. It is adding 30 to 40 accounts on a monthly basis. Gold Leaf expects to add two delivery trucks for beverage delivery. It expects to post significant revenues during summer and spring because of increased shipments of beverages.

Gold Leaf turns profitable in Q1 2020

Chief Executive Officer of Kona Gold, Robert Clark, said he is pleased to announce the growth of Gold Leaf in late 2019. It is on the backdrop of adding new products to the portfolio of Gold Leaf and the addition of new accounts in Q4 2019. He anticipates that Gold Leaf will become profitable in Q1 2020.  The company has recently launched a website that lists its products and helps the customers to find a nearby store.

Kona Gold posts revenues of $1.42 million in Q1 to Q3, 2019

Kona Gold is pleased to post revenues of $1.42 million in Q1, Q2, and Q3, 2019, mainly on the backdrop of CBD and hemp products in the functional beverage sector. The company established relationships with more than sixty distributors across thirty-six states. It also expanded its operations to South Carolina. The company also expanded the HighDrate CBD Energy Water and Hemp Energy Drink to 15 SKUs from 9 SKUs. It has rolled out Storm CBD High Alkaline Water.

Kona Gold achieved revenues of up to $2 million in October 2019, meeting the forecasts of January 2019. It expects to post revenues of $6 to $8 million in 2020 because of a growing demand for the current products and through new launches. Clark said the company achieved phenomenal growth in 2019. The company expects to continue its growth through Q4 2019 and 2020.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

FEATURED STORIES

Business3 days ago

Business intelligence from Akerna Corp (NASDAQ:KERN) Says Liquor Sales are Up 10% Year-over-Year

Post Views: 388 Liquor sales are up 10% year-over-year according to business intelligence from Akerna Corp (NASDAQ:KERN). Red wine took...

Business3 days ago

Pyxis Tankers Inc. (NASDAQ:PXS) Announce Q1 2020 Financial Results Amid COVID-19 Uncertainties

Post Views: 227 Pyxis tankers Inc. (NASDAQ:PXS) has announced its unaudited financial results for the quarter that ended March 31,...

Business3 days ago

Innovative Industrial Properties Inc (NYSE:IIPR) Enters Into a Lease Amendment Agreement with Green Leaf

Post Views: 249 With pot being legalized in many countries, the market is likely to get even bigger. As a...

Business3 days ago

Liberty Leaf Holdings Ltd (OTCMKTS:LIBFD) Takes Over Nova Mentis Biotech Corp And Add Synergies To Its Cannabis Assets In The Wellness And Health Sector

Post Views: 253 Liberty Leaf Holdings Ltd (OTCMKTS:LIBFD) gained access to the psilocybin by acquiring Nova Mentis Biotech Corp. The...

Business4 days ago

Aleafia Health Inc (OTCMKTS:ALEAF) Begins Cultivation At Its Entire Niagara Facility And Provides Consistent Supplies for Health: Settles Disputes With Aphria

Post Views: 358 Aleafia Health Inc (OTCMKTS:ALEAF) will commence cultivation operations at its whole Niagara facility. It obtained a license...

Business4 days ago

Pure Capital Calls For Shareholders Meeting of Therapix Biosciences Ltd (NASDAQ:TRPX): Demands For Dismissal Of Board Members

Post Views: 296 Pure Capital called for an emergency meeting of investors of Therapix Biosciences Ltd (NASDAQ:TRPX) to discuss actions...