January 16, 2017 10:18 AM ET

Food Products

Company Overview of KonaRed Corporation

Company Overview

KonaRed Corporation manufactures and sells coffee fruit wellness drinks. Its products include KonaRed Antioxidant Juice; KonaRed antioxidant additional flavor combinations, including organic green tea and coconut water; and ready-to-drink cold brew coffees. The company also provides KonaRed Hawaiian Superfruit Powder, a coffee fruit powder; KonaRed Wake Up Performance Powder Packets; and coffee bean products. It sells its products through direct store, broadline, direct to retail, online retail, and raw material ingredient sales distribution channels in the United States, Canada, and Asia. KonaRed Corporation was founded in 2008 and is headquartered in San Clemente, California.

1101 Via Callejon

Suite 200

San Clemente, CA 92673

United States

Founded in 2008

10 Employees

Phone:

808-212-1553

Key Executives for KonaRed Corporation

Co-Founder, Chairman, Chief Executive Officer and President
Age: 46
Total Annual Compensation: $130.0K
Chief Financial Officer, Principal Accounting Officer, Treasurer and Secretary
Age: 57
Total Annual Compensation: $125.0K
Chief Operating Officer and Director
Age: 34
Total Annual Compensation: $275.0K
Compensation as of Fiscal Year 2015.

KonaRed Corporation Key Developments

KonaRed Corporation Appoints Richard N. Fischler as an Additional Director

On December 16, 2016 at a meeting of the Board of Directors of KonaRed Corporation, the company appointed Mr. Richard N. Fischler as an additional director of the company and expanded the Board to seven members. Mr. Fischler's appointment fulfilled a provision of the Securities Purchase Agreement executed with PCF Holdings Group, LLC on December 6, 2016 and no compensation agreement was executed, nor was any compensation provided to Mr. Fischler regarding his appointment. Richard Fischler is the founder, CEO and President of Creative Flavor Concepts Inc. and has over 14 years experience in the Flavor and Product Formulation industry. Prior to founding Creative Flavor Concepts in 2005, he held the position of Vice President, Marketing and Sales at Affinity Flavors Inc. from 2002 to 2005.

KonaRed Corporation announced delayed 10-Q filing

On 11/14/2016, KonaRed Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

KonaRed Corporation Enters into a Settlement Agreement with Splash Beverage Group

On October 18, 2016, KonaRed Corporation entered into a Settlement Agreement with Splash Beverage Group Inc. to settle and discharge with no payments being made between the Parties, all claims between the Parties regarding the Confidential Distribution Agreement and Sales and Marketing Services Agreement which the Parties had entered on April 22, 2014 and which the Company had provided cancelation notices to SBG of the SMSA on September 16, 2015 and the CDA on September 23, 2015. On or about April 22, 2014, KonaRed and SBG entered into a Confidential Distribution Agreement ("CDA") and a Sales and Marketing Services Agreement ("SMSA"). Disputes have arisen regarding performance under the CDA and SMSA. SBG commenced a lawsuit against KonaRed in the Circuit Court of the Seventeenth Judicial Circuit in and for Broward County, Florida styled Splash Beverage Group Inc. v. KonaRed Corporation and bearing Case No. 15-022541 CACE (09).SBG commenced an arbitration against KonaRed before the American Arbitration Association styled Splash Beverage Group Inc. v. KonaRed Corporation and bearing Case No. Case 01-16-0002-5099. The Parties desire to enter into this Settlement Agreement: in order to provide for the formal cancellation of the CDA and SMSA; for the settlement and discharge of all alleged claims by SBG and KonaRed; which are the subject or could have been the subject of the Litigation, including all claims, counterclaims, defenses, and claims for attorneys' fees and/or costs upon the terms and conditions set herein; and to provide mutual general releases.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
December 6, 2016
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