Fully agree.
AB was actually marketing Kona here. They made their own signs and put them on most of the buildings that they placed Kona in. They even worked with Kona to do a roll out party (was told this by both Chad Webb and AB employees). Then, per my discussions with AB management, Kona bailed on the rollout event. Even after AB had been pushing product hard and getting things off to a good start. Had it in 20+ locations locally from what we logged (group of shareholders). They had Kona as the ONLY CBD or hemp beverage in multiple stores. A small testament to how well AB was doing. Breaking down barriers, with Kona and HIGHdrate as the products doing it.
Then, before Covid even hit, I was informed that Kona was taking focus away from AB, and it was AB’s understanding that they were going to focus in the southeastern region of the US. Which, the AB rep told me made perfect sense if Kona believed going national (which they stated in a PR prior to that they would do) was no longer an obtainable goal.
But yet, the growth by Kona is just way too slow when subtracting the acquisition (at the LARGE cost to shareholders) of Lemin.
Kona’s products are fantastic. Lemin is great as well. They need to capitalize and expand more rapidly. Just signing international deals without execution doesn’t get anything accomplished long term. Signing 1 new domestic distributor per year, when others are failing off, isn’t a good sign either.
Kona has the product. They have the funding now. But what is their actual goal? What has Selinger and O’Renick done to achieve results since being hired?
The recipe is there to be great. Can they execute? So far, it’s been a struggle.
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