10-Q Filing

KONA GOLD BEVERAGE, INC. CIK: 1802546 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001731122-21-000908`
Period End Date	20210331
Filing Date	20210517
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	kgkg-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 101 Income Statement 36 Cash Flow Statement 48 Stockholders Equity 12

Balance Sheet 101 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$3.97K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$5.02K	USD	Point-in-time
Allowance for note receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Allowance for note receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.50M	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$113.17K	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.20K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $3,967 and $5,019, respectively	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $3,967 and $5,019, respectively	`AccountsReceivableNetCurrent`	$111.68K	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	988,140.00	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$14.88K	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$14.88K	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	988,140.00	shares	Point-in-time
Inventory	`InventoryNet`	$861.65K	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	988,140.00	shares	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	988,140.00	shares	Point-in-time
Inventory	`InventoryNet`	$660.50K	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$5.57K	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$7.52K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$794.12K	USD	Point-in-time
Common Stock, shares authorised	`CommonStockSharesAuthorized`	2.50B	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.05M	USD	Point-in-time
Common Stock, shares authorised	`CommonStockSharesAuthorized`	2.50B	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	825.73M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	786.31M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$176.96K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	786.31M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	825.73M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	146.80M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$167.87K	USD	Point-in-time
Right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$912.99K	USD	Point-in-time
Right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$875.97K	USD	Point-in-time
Intangible property, net	`FiniteLivedIntangibleAssetsNet`	$79.44K	USD	Point-in-time
Intangible property, net	`FiniteLivedIntangibleAssetsNet`	$69.49K	USD	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
Goodwill	`Goodwill`	$1.28M	USD	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
Note receivable, net of allowance $1,500,000 and $0, respectively	`NotesAndLoansReceivableNetCurrent`	-	USD	Point-in-time
Note receivable, net of allowance $1,500,000 and $0, respectively	`NotesAndLoansReceivableNetCurrent`	-	USD	Point-in-time
Deposit	`DepositAssets`	$6.50K	USD	Point-in-time
Deposit	`DepositAssets`	$6.50K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$2.42M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$1.16M	USD	Point-in-time
Total assets	`Assets`	$1.95M	USD	Point-in-time
Total assets	`Assets`	$3.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$208.60K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$257.85K	USD	Point-in-time
Amounts owed to customers	`AmountsOwedToCustomers`	-	USD	Point-in-time
Amounts owed to customers	`AmountsOwedToCustomers`	$10.51K	USD	Point-in-time
Credit card payables	`CreditCardPayables`	$6.54K	USD	Point-in-time
Credit card payables	`CreditCardPayables`	$19.47K	USD	Point-in-time
Current note payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$9.00K	USD	Point-in-time
Current note payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$12.00K	USD	Point-in-time
Current lease liability	`OperatingLeaseLiabilityCurrent`	$149.41K	USD	Point-in-time
Current lease liability	`OperatingLeaseLiabilityCurrent`	$112.38K	USD	Point-in-time
Convertible debt	`ConvertibleDebtCurrent`	$900.00K	USD	Point-in-time
Convertible debt	`ConvertibleDebtCurrent`	$1.20M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$627.02K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$361.15K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$318.96K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$257.50K	USD	Point-in-time
Accrued stock compensation	`AccruedStockCompensation`	$1.39M	USD	Point-in-time
Accrued stock compensation	`AccruedStockCompensation`	$1.39M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$105.03K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$81.62K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.39M	USD	Point-in-time
Line of credit	`LineOfCredit`	$398.47K	USD	Point-in-time
Line of credit	`LineOfCredit`	$398.47K	USD	Point-in-time
Line of credit - related party	`LineOfCreditRelatedParty`	$1.50M	USD	Point-in-time
Line of credit - related party	`LineOfCreditRelatedParty`	$1.50M	USD	Point-in-time
Note payable - related party, net of current	`NotesPayableRelatedPartiesNoncurrent`	$56.00K	USD	Point-in-time
Note payable - related party, net of current	`NotesPayableRelatedPartiesNoncurrent`	$56.00K	USD	Point-in-time
Note payable	`LongTermNotesPayable`	-	USD	Point-in-time
Note payable	`LongTermNotesPayable`	$642.28K	USD	Point-in-time
PPP note payable	`OtherNotesPayable`	$212.65K	USD	Point-in-time
PPP note payable	`OtherNotesPayable`	$95.16K	USD	Point-in-time
Lease liability, net of current	`OperatingLeaseLiabilityNoncurrent`	$763.59K	USD	Point-in-time
Lease liability, net of current	`OperatingLeaseLiabilityNoncurrent`	$763.59K	USD	Point-in-time
Total liabillities	`Liabilities`	$6.20M	USD	Point-in-time
Total liabillities	`Liabilities`	$7.59M	USD	Point-in-time
Common Stock, $.00001 par value, 2,500,000,000 authorized, 825,726,839 and 786,308,041, issued and outstanding, respectively	`CommonStockValue`	$7.86K	USD	Point-in-time
Common Stock, $.00001 par value, 2,500,000,000 authorized, 825,726,839 and 786,308,041, issued and outstanding, respectively	`CommonStockValue`	$8.26K	USD	Point-in-time
Additional paid-in capital - warrants	`AdditionalPaidinCapitalWarrants`	$1.33M	USD	Point-in-time
Additional paid-in capital - warrants	`AdditionalPaidinCapitalWarrants`	$281.56K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.63M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.28M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.10M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.27M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.89M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.24M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.13M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.40M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$1.95M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$3.47M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Allowence for net of sales	`AllowenceForNetOfSales`	$51.16K	USD	1 Quarter
Allowence for net of sales	`AllowenceForNetOfSales`	$28.71K	USD	1 Quarter
REVENUES, NET OF SALES, RETURNS, AND ALLOWANCES OF $28,707 AND $51,159, RESPECTIVELY	`Revenues`	$462.41K	USD	1 Quarter
REVENUES, NET OF SALES, RETURNS, AND ALLOWANCES OF $28,707 AND $51,159, RESPECTIVELY	`Revenues`	$202.06K	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$145.97K	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$313.92K	USD	1 Quarter
Gross profit	`GrossProfit`	$56.09K	USD	1 Quarter
Gross profit	`GrossProfit`	$148.49K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$568.98K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$647.22K	USD	1 Quarter
Bad Debt Expense	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Bad Debt Expense	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$-420.49K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$-591.13K	USD	1 Quarter
Interest expense	`InterestExpense`	$17.37K	USD	1 Quarter
Interest expense	`InterestExpense`	$3.81K	USD	1 Quarter
Interest expense related to loan origination fee on convertible note	`InterestExpenseRelatedToLoanOriginationFeeOnConvertibleNote`	$41.00K	USD	1 Quarter
Interest expense related to loan origination fee on convertible note	`InterestExpenseRelatedToLoanOriginationFeeOnConvertibleNote`	-	USD	1 Quarter
Interest expense related to warrants on convertible note	`InterestExpenseRelatedToWarrantsOnConvertibleNote`	$1.05M	USD	1 Quarter
Interest expense on convertible note	`InterestExpenseDebt`	-	USD	1 Quarter
Interest expense on convertible note	`InterestExpenseDebt`	$19.97K	USD	1 Quarter
Loss on derivative	`DerivativeLossOnDerivative`	-	USD	1 Quarter
Loss on derivative	`DerivativeLossOnDerivative`	$265.87K	USD	1 Quarter
Tax expense	`OtherTaxExpenseBenefit`	-	USD	1 Quarter
Tax expense	`OtherTaxExpenseBenefit`	$2.27K	USD	1 Quarter
EIDL advance	`EidlAdvance`	-	USD	1 Quarter
EIDL advance	`EidlAdvance`	-	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-1.82M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-594.94K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-3.13M	USD	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	710.87M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	775.47M	shares	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.82M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-594.94K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.13M	USD	Annual
Depreciation and Amortization	`DepreciationAndAmortization`	$9.91K	USD	1 Quarter
Common Stock Issued in Exchange for Services	`CommonStockIssuedInExchangeForServices`	-	USD	1 Quarter
Common Stock Issued in Acquisition	`CommonStockIssuedInAcquisition`	$-270.90K	USD	1 Quarter
Common Stock Issued for Sponsorship	`CommonStockIssuedForSponsorshipAgreementsValue`	-	USD	1 Quarter
Common Stock Issued for Sponsorship	`CommonStockIssuedForSponsorshipAgreementsValue`	$2.58K	USD	1 Quarter
Common Stock Issued for Compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	1 Quarter
Common Stock Issued for Compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$318.50K	USD	1 Quarter
Common Stock Issued for Compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$157.50K	USD	1 Quarter
Preferred Stock Issued for Compensation	`PreferredStockIssuedForCompensation`	-	USD	1 Quarter
Interest expense related to warrants on convertible debt	`InterestExpenseRelatedToWarrantsOnConvertibleNote`	$1.05M	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$122.18K	USD	1 Quarter
Decrease (increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	-	USD	1 Quarter
Decrease (increase) in inventory	`IncreaseDecreaseInInventories`	$201.15K	USD	1 Quarter
Decrease (increase) in prepaids	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$1.95K	USD	1 Quarter
Decrease (increase) in deposits	`IncreaseDecreaseInDeposits`	-	USD	1 Quarter
Decrease (increase) in right-of-use asset	`IncreaseDecreaseInOperatingAssets`	$-37.02K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$49.25K	USD	1 Quarter
Increase (decrease) in credit card payable	`IncreaseDecreaseInCreditCardPayable`	$-12.93K	USD	1 Quarter
Increase (decrease) in accrued compensation	`IncreaseDecreaseInAccruedCompensation`	$61.46K	USD	1 Quarter
Increase (decrease) in accrued stock compensation	`IncreaseDecreaseInAccruedStockCompensation`	-	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedExpenses`	$23.41K	USD	1 Quarter
Increase (decrease) in derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	$265.87K	USD	1 Quarter
Increase (decrease) in lease liability	`IncreaseDecreaseInOperatingLiabilities`	$-37.02K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-424.39K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.37M	USD	Annual
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.27K	USD	1 Quarter
Changes in goodwill	`PaymentsToAcquireIntangibleAssets`	$1.28M	USD	1 Quarter
Changes in intellectual property	`PaymentsForProceedsFromProductiveAssets`	$9.95K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.31M	USD	1 Quarter
Proceeds from shareholder payable	`ProceedsFromShareholderPayable`	-	USD	1 Quarter
Changes in note payable - related party	`ProceedsFromRepaymentsOfNotesPayable`	$-3.00K	USD	1 Quarter
Changes in line of credit - related party	`ProceedsFromSecuredLinesOfCredit`	-	USD	1 Quarter
Changes in note payable - acquisition	`ChangesInNotePayableAcquisition`	$642.28K	USD	1 Quarter
Changes line of credit	`ProceedsFromLinesOfCredit`	-	USD	1 Quarter
Changes in convertible debt	`ProceedsFromConvertibleDebt`	$913.81K	USD	1 Quarter
Changes in PPP note payable	`ProceedsFromNotesPayable`	$117.49K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.67M	USD	1 Quarter
Net cash increase for period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-59.97K	USD	1 Quarter
Cash at beginning of period	`CashOverdraft`	$113.17K	USD	Point-in-time
Cash at beginning of period	`CashOverdraft`	$53.20K	USD	Point-in-time
Cash at end of period	`CashOverdraft`	$113.17K	USD	Point-in-time
Cash at end of period	`CashOverdraft`	$53.20K	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$17.20K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquityBeforeTreasuryStock`	$-656.05K	USD	Point-in-time
Beginning balance, value	`StockholdersEquityBeforeTreasuryStock`	$-659.52K	USD	Point-in-time
Beginning balance, value	`StockholdersEquityBeforeTreasuryStock`	$-134.98K	USD	Point-in-time
Beginning balance, value	`StockholdersEquityBeforeTreasuryStock`	$-52.58K	USD	Point-in-time
Loan Forgiveness	`LoanForgiveness`	$25.00K	USD	Annual
Net Income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-546.07K	USD	Annual
Net Income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-82.40K	USD	Point-in-time
Net Income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.47K	USD	Point-in-time
Ending balance, value	`StockholdersEquityBeforeTreasuryStock`	$-656.05K	USD	Point-in-time
Ending balance, value	`StockholdersEquityBeforeTreasuryStock`	$-659.52K	USD	Point-in-time
Ending balance, value	`StockholdersEquityBeforeTreasuryStock`	$-134.98K	USD	Point-in-time
Ending balance, value	`StockholdersEquityBeforeTreasuryStock`	$-52.58K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.