Here are some things I like about KGKG. Reducing debt without issuing stock is big. The S-1 and moving up to OTCQB equally big.
ROCKLEDGE, Fla., May 10, 2017 (GLOBE NEWSWIRE) -- Kona Gold Solutions, Inc. (OTC Pink:KGKG), a hemp lifestyle brand of exclusivity and status, is pleased to announce the Company has reduced its debt by twenty five thousand ($25,000.00), reducing the Company’s total liabilities to $75,468. Kona Gold’s management team negotiated with a debt holder to pay off its liabilities without issuing new shares. The Company is also in negotiations to reduce its total outstanding liabilities by an additional sixty thousand dollars ($60,000).
ROCKLEDGE, Fla., March 21, 2017 (GLOBE NEWSWIRE) -- Kona Gold Solutions, Inc. (OTC Pink:KGKG), a hemp lifestyle brand of exclusivity and status, is pleased to announce the Company has reduced its debt by forty eight thousand ($48,000), reducing the Company’s total liabilities to $100,468. Kona Gold’s management team negotiated with two debt holders to pay off its liabilities without issuing new shares. The Company is also in negotiations to reduce its total outstanding liabilities by an additional seventy thousand dollars ($70,000).
Kona Gold’s Management team felt it was imperative to implement a new growth strategy by decreasing the amount of total outstanding liabilities to increase shareholder value and position the Company for rapid growth. The Company decided to use the proceeds from the sale of Elev8 Hemp LLC to Elev8 Brands, Inc. (OTC.PK:VATE) to reduce a majority of its outstanding liabilities. The Company is set to use the additional proceeds from the sale of its subsidiary to pay legal consul to draft and submit a form S-1 as well as higher an auditing firm to complete a full audit of the company’s financial and inventory assets.
