Replies to post #104322 on Kona Gold Beverage Inc (KGKG)

[Luho]

I was told initially by the company that their attorneys advised against it due to VATE being a volatile OTC stock. Not sure how that’s still the logic still behind it, now that it’s money owed, and not shares.

Here’s all I saw from their most recent disclosure


On November 27, 2019, Kona Gold Solutions, Inc entered into an agreement with Elev8 Brands, Inc., whereas Eleve8 Brands, Inc. would receive all 2,746,723 shares of Ele8 Brands, Inc. Series D preferred stock for a non-convertible promissory note to Kona Gold Solutions, Inc. for $1,500,000 with payment due November 27, 2029.

***** As of December 31, 2019, and 2018, this investment is disclosed only and no asset is recorded on the accompanying balance sheets *********

https://backend.otcmarkets.com/otcapi/company/financial-report/246938/content