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They did bring down the AS as indicated in last release.
"On December 30, 2023, Kona Gold Beverage, Inc. (the “Company”). filed with the Secretary of State of the State of Delaware a Certificate of Amendment to its amended and restated Certificate of Incorporation (the “Certificate of Amendment”) to decrease the number of the Company’s authorized shares of common stock, par value $0.00001 per share (the “Common Stock”), from ten billion five hundred million (10,500,000,000) shares to five billion six hundred fourteen million (5,614,000,000) shares. A copy of the Certificate of Amendment is attached hereto as Exhibit 3.7 and incorporated herein by reference."
They further shared they are aware of 'bloated' share structure and classes as well as commitment to shareholder value and working to address.
They raised 5mm funds w/o dilution, and expressed that effort as a mission (protect share value and transparency).
At .0037 and about 2.5 bil OS, the cap is about 8-10mm.
imho a VERY reasonable valuation for a spec with last 2 releases, and 5mm funding.
If you see my past posts you will see i expressed frustration at previous mgt practices for years. So while cautious on all pinks ... feel risk reward here is very good.
imho
excerpt - look at last line
Section 5 - Corporate Governance and Management
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 30, 2023, Kona Gold Beverages, Inc. (the “Company”), announced that the Board of Directors (the “Board”) appointed Brandon White to the position of President and Chairman, effective immediately.
Brandon White is a seasoned sales and business development professional with over fifteen years of industry expertise. With a proven track record, he has successfully collaborated with both large corporations and startups to enhance operational efficiencies, cultivate robust relationships, drive sales growth, and expand market share.
Mr. White earned his Bachelor’s Degree in Business Administration with a focus on Economics from UNC Greensboro. Following graduation, he embarked on a remarkable journey, contributing his skills to three Fortune 50 companies, each boasting revenues exceeding $600 million. Throughout his illustrious career, he not only led successful sales teams but also played a pivotal role in establishing them from inception.
Brandon’s accomplishments span from transforming conceptual ideas into market-successful products for two companies to catapulting an existing company’s revenues from $430,000 to over $12 million in less than 30 months. In a significant role, he managed a business unit that generated earnings surpassing $30 million.
On November 30, 2023, Kona Gold Beverages, Inc. (the “Company”), announced that the Board of Directors (the “Board”) appointed Jermain Strong to the position of Chief Executive Officer and Director, effective immediately. He succeeds Robert Clark, who resigned from the Company and the Board on November, 30, 2023, to pursue other interests.
november k?
So they outline current mgt as well as the past mgt (RC) stepping down.
they should... the financing almost equals the co cap.
read the last releases
new team. Mgt expressed their view about shares in last 2 releases.
Also reduced a big block of the AS.
But yes , all the share classes and warrants need to be dealt with.
i think it is possible mgt wants this above a penny and other listing standards to get back in good standing.
Past mgt's last release stated they would no longer comply w reporting requirements for OTC Pink or better.
My sense is they also have some $ to clean up shares and profile... but still wise to clean up at best price.
they have not put out more detail than shown in last two pr's.
They have the legacy Kona Hemp line up which were decent, but was left for dead by last team. I feel confident they have plans.
At .0025 ... any smart steps will push much higher.
Reduced shares from total shares... not float. Release is candid about share bloat.
The key is that at .002 the cap is about 5-6mm. The shares had been beaten so low due to mess of previous team.
Why moving incrementally? Smart.. and seems they are walking this up. Lots and lots of shares to soak up.
If they are savvy and connected enough to quickly secure operating cash, think they likely about market as well.
A shell can trade for 10-15+ mm (twice the current cap). Yes this remains a spec... but upside could be enormous.
For investors could not have asked more from a release.
Shareholder aligned and clearly has savvy to sscure non dilutive funding.
Looking very interesting...
Eager to see follow up from co, assuring the break from past mgt practices.
But the methodical support and walk up of shares looks like real accumulatuon
Yes, correct, thks
My approach with such huge floats is to look at cap value targets.
15 mil (.006) seems reasonable for a good starting prospect. So all i am looking for is confirmation that they are executing quickly and their plan for financing, product and marketing / sales is sound.
They still need to pay bills or the company is back to old formulas.
Also like to see the details of all arrangements in a Q. Gold Leaf, Loud Bev, 51 Labs all have sprung ( or closed) from the co with some cross over names.
Want to be sure a real break from past.
All about execution...
If they do what is outlined in PR then could see .0006 or 4x current based on 2.5 bil os.
That would make the co about 15 mm cap...
A shell could trade higher.
IF,... IF, they move fast to get products selling, some promo endorsements, keep a regular pace of activity releases and restore trust then could see a cap of 25 mm this year... 10x current.
RC held alot of shares. Unless they are included in some deal he will likely be selling for whatever he is going to do.
Wonder whats going on here...long time w no news or updates
Big changes at Kona and Gold Leaf... RC booted from company...is he still here?
at .004 the co value is about 10mm... totally reasonable for a tiny start up with promise.
Based on the news, new mgt, and 2.5 bil OS, this can easily support .003-.005 on spec alone. If they are fast paced and execute this could do very well.
Not sure what the product plan is. The origional KG line up was good...was.
But previous mgt really messed up during the precovid heyday... not sure how much can run w just new design.
Hope new products developed? Maybe incorporating some of the workout supplements in their other co. into a new energy bev line up? ( wonder if RC is still ceo there?)
and looks like it closed Gold Leaf distrubtors, or transferred it to Loud Beverage...
very interesting and... refreshing!
Admits mistakes, changes leadership, reduces shares and has as one core mission... shareholder value!
Now it becomes interestimg.
on Konagoldhemp.com it shows the Melbourne Fl address.
On Konagoldbeverage.com it shows Rockledge FL. ( not far)
The bev site product links are mostly dead. The Kona G Hemp site has the old products ... but half sold out... likely running down inventory.
Feels dead.
Where?
?
I just posted what turned up in a simple google search.
and...
asked where, apart from website, are the products being sold?
no assumptions.
just while waiting... googled '51 Labs products'... and a lot of 51 lab hits came up... but nothing about cafi
Why choose this name, i assumed researched?
where are the products being sold? Anywhere besides website?
asking seriously, since no news of distribution.
Need serious sales for this to run for real, not news of plans
"
Robert Clark's first directive will be to process the Company's name change from Consumer Automotive Finance, Inc. to Fifty1 Labs, Inc. The Company will be submitting a stock ticker change as well. "
July 11
RC - not abour 'like'... about history of results
Link on OtcMarkets obviously needs to be updated- but that is a site to get OTC current info ( see the link i included)
Promise- could be. Any backing $ will be reflected in the last Q. This shows that dilution will likely be needed in short / mid term OR other debt funding as operations / revs wont support for considerable period even if sales ramp.
i did not make any personal characterizations of you.
i own a few shares here, no anger. RC's performance is clear, look at KG today. Nothing personal.
Shares - my point is that if AS is 800 mil and issued out ( insider and retail) is 780 mil , and the co is making virtially no revs, they have to issue more shares to support operations. Or raise operating funds through other debt. No value judgement.
Independant endorsement. The company does have labelling and claims. But given the nature of products would be good to have independant qualified evaluations/ endorsements by pharma performance folks.
Again not personal.
Website - i followed the link from OTC site
https://www.otcmarkets.com/stock/CAFI/profile
Maybe it needs to be updated?
make the case?
Where is it being sold? Reviews?
Website is down for upgrade so the only outlet is temporarily closed.
Any independant evaluation of product?
Have you tried?
im being serious and open minded.
My chief concern is share structure.
800 mm authorized / 727mm out.
So how to manage costs without dilution?
how to manage a success bev product
https://www.cnbc.com/amp/2023/11/30/how-vita-coco-founder-took-on-coca-cola-built-billion-dollar-company.html
it would be interesting to see what is happening at headquarters now given it appears a new tenant at same ? , adjacent address (CAFI). RC is the ceo of that co as well now, conveniently at same time he sold the only selling products he had at KG.
thank you.
one edit, i looked at Branded Legacy which i knew in its earlier iteration and questioned the share award. While not certain about terms, or bottom line beneficiary it is no longer the company's mgt/ co i knew from a few years back.
It appears to have broken from past with new mgt, products and vision that may be interesting, but not the failed Kona Gold or old hemp coffee team.
RC has this?
Not an endorsement given the disaster he created at the company he is running from.
727,660.385 shares out... not many?
Insiders have most, so will bleed out month by month to pay themselves.
800,000,000 authorized - so unless using insider $ for operating will need to dilute in midterm.
100,000,000 awarded in March for consulting and payments
20,000,000 issued to Branded Legacy (another bil share co with virtually no revs and years of no success)
acculated deficit $5,648,992 as of September (and growing)
assets - 26,025
Revs 164,500 , minus op cost, Gen admin, sales/ mkt = loss $18,000
weighted shares out - 692,660,385
---
SO... while hope springs eternal the co has mgt that has NEVER marketed, sold, managed a sustained profitable co... in years.
That HAS generated several companies that have benefited insiders at the expense of common retail holders.
CAFI starts now in a deep $ hole with thos mgt. At the very least caution is prudent, and a 'prove and verify' track record is needed to show this effort is different.
sorta running in place
the point is it only has a product it could not sell! For 5 years! Un the heigth of the hemp craze!
And yes nothing is wrong with debt except when grows year after year while product sales declined.
Now the co is where it was 5 years ago except diluted 2-3 times the shares, and growing...massive debt,,,and no products on shelves. Look at chart!
So invest in this ceo's mgt record and credibility?
Like what they say... repeating the same over and over and expecting different results...?
However i dont doubt that he/they can push a p+d for a quick buck...thats their expertise.
thats a rousing endorsement... there are other total productless pump shells that are worse?
Not an investment strategy i would use...
And curious, in your review of financials did you happen upon the accumulated mils of debt over 5 years w/o being able to sustain any product?
Look over the layers and layers of loans, and insider share commitments?
The dilution over same time?
The purchase and sale at loss of Ooh La while unable to sell and benching the hemp bevs... in the heigth of hemp craze?,
Now 5 years later in effect starting all over with the same tired hemp products they could not sell and lost money with?
And notice, conveniently for RC, while the company was secretly planning sale of Ooh L he took another job, and rented out offices to the other co?
STILL notes covid as excuse... while other bev co's grew and prospered?
After a read of the fin's and review of history of false reporting, insider dealing
and inability to successfully sell anything you find this is an oppprtunity?
and he likely is beginning to 'accrue' at his new CEO job at CAFI.
But seriously, take a close look at the co debt and obligations in last Q.
5+ years of accumlated debt and dilition is quite a mountain to climb.
bring back? RC was the one who drove this into the ground! And now he is only 50% CEO because jumped ship for new co.
Real products? He just sold the primary product line for a loss!
Tripled the share count, saddled with massive debt. The 'real' products ( hemp bevs remaining) are the same products they had 4 years ago... tried and failed to sell in scale... and then let die on vine.
real products? You mean the Kona Gold and HighDrate lines? Look at the revs on these products in Q. Tiny.
They sold more 4 years ago with 30% of the shares.
And now ceo is 50% working for anothet co.