Kona Gold Beverage Inc (KGKG)

[CPTX]

Yes they have, check the Q3 letter from the CEO: https://backend.otcmarkets.com/otcapi/company/financial-report/234205/content

Kona Gold recently missed its third quarter projections, posting revenue of just over $458,000. Several
factors contributed to the lower than anticipated revenue for Q3.
1.) Elavon, the only credit card processor for hemp and CBD companies at the time, informed all of its
hemp and CBD customers that they would be discontinuing credit card processing in June. This
impacted thousands of businesses in the industry, including Kona Gold. To put this in perspective, Kona
Gold processed close to $200,000 in credit cards in Q2. The Company found itself without a credit card
processor for all of Q3, thus missing out on a significant amount of revenue from its wholesale and
ecommerce customers.
2.) While waiting for guidance from the FDA, the Company delayed production of its HighDrate CBD
Energy Waters and the launch of its Storm CBD Water in Q3. Delaying production of these product lines
in Q3 correlated to a loss of $150,000 - $200,000 in protentional revenue from these product lines.

Beginning in early Q4, the two above factors that contributed in lost revenue have been addressed. The
Company, in early October, secured an established credit card processing Company that started a pilot
program for hemp and CBD companies. We promptly integrated the new credit card processor into our
ecommerce websites and began processing ecommerce sales and wholesale accounts again.