secwatch.observer — SEC 8-K summary
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Issuer:     KONA GOLD BEVERAGE, INC. (—)
CIK:        0001802546
Form:       8-K
Filed at:   2023-10-05T23:59:59+00:00
Accession:  0001493152-23-036353
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kona Gold sells Ooh La Lemin brand to Sprecher Brewing for $500k; focuses on Gold Leaf Distribution
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- Closed Sept 29, 2023; received $450,000 cash and $50,000 promissory note from Sprecher Brewing Company.
- Cash proceeds allocated to repayment of certain debt obligations; note bears 1% annual interest, matures Jan 15, 2024.
- Sale includes IP, distributor agreements, inventory, social media assets; accounts receivable not transferred.
- Company shifts focus to Gold Leaf Distribution subsidiary, citing positive profitability trends in late 2022/early 2023.
- Management believes this restructuring will allow Kona Gold to become profitable in fiscal year 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1802546/000149315223036353/0001493152-23-036353-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1802546/000149315223036353/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-036353

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