2022 Q1 Form 10-Q Financial Statement

#000149315222013266 Filed on May 13, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $995.1K $462.4K
YoY Change 115.21% 128.85%
Cost Of Revenue $849.9K $313.9K
YoY Change 170.73% 115.06%
Gross Profit $145.3K $148.5K
YoY Change -2.18% 164.73%
Gross Profit Margin 14.6% 32.11%
Selling, General & Admin $939.3K $569.0K
YoY Change 65.09% -12.09%
% of Gross Profit 646.68% 383.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.18K $9.907K
YoY Change 164.26% 29.12%
% of Gross Profit 18.02% 6.67%
Operating Expenses $939.3K $3.589M
YoY Change -73.82% 530.71%
Operating Profit -$794.1K -$420.5K
YoY Change 88.85% -28.87%
Interest Expense $430.9K $37.34K
YoY Change 1054.01% 880.8%
% of Operating Profit
Other Income/Expense, Net $3.224K
YoY Change
Pretax Income -$3.565M -$1.817M
YoY Change 96.17% 205.43%
Income Tax -$3.220K $2.580K
% Of Pretax Income
Net Earnings -$3.562M -$1.820M
YoY Change 95.74% 205.84%
Net Earnings / Revenue -357.9% -393.49%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share -$3.065K -$2.260K
COMMON SHARES
Basic Shares Outstanding 1.162B shares 814.7M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $296.8K $56.20K
YoY Change 428.1% 203.29%
Cash & Equivalents $296.8K $56.20K
Short-Term Investments
Other Short-Term Assets $28.81K $7.518K
YoY Change 283.2% 44.86%
Inventory $1.129M $861.7K
Prepaid Expenses $11.37K
Receivables $94.13K $111.7K
Other Receivables $0.00 $14.88K
Total Short-Term Assets $1.560M $1.052M
YoY Change 48.34% 19.51%
LONG-TERM ASSETS
Property, Plant & Equipment $345.4K $177.0K
YoY Change 95.2% -62.78%
Goodwill $0.00
YoY Change
Intangibles $73.52K
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.13K $6.500K
YoY Change 132.77% 0.0%
Total Long-Term Assets $1.352M $2.416M
YoY Change -44.05% 333.32%
TOTAL ASSETS
Total Short-Term Assets $1.560M $1.052M
Total Long-Term Assets $1.352M $2.416M
Total Assets $2.912M $3.468M
YoY Change -16.03% 141.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.072M $257.8K
YoY Change 315.82% 104.01%
Accrued Expenses $500.9K $105.0K
YoY Change 376.93% -92.9%
Deferred Revenue
YoY Change
Short-Term Debt $652.6K $1.200M
YoY Change -45.62%
Long-Term Debt Due $344.9K $9.000K
YoY Change 3732.33% -25.0%
Total Short-Term Liabilities $4.502M $4.023M
YoY Change 11.91% 148.7%
LONG-TERM LIABILITIES
Long-Term Debt $1.376M $2.808M
YoY Change -50.99% 54.62%
Other Long-Term Liabilities $615.3K $763.6K
YoY Change -19.42% 184.19%
Total Long-Term Liabilities $615.3K $3.571M
YoY Change -82.77% 71.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.502M $4.023M
Total Long-Term Liabilities $615.3K $3.571M
Total Liabilities $7.274M $7.594M
YoY Change -4.22% 105.13%
SHAREHOLDERS EQUITY
Retained Earnings -$19.86M -$11.10M
YoY Change 78.94%
Common Stock $14.83K $8.257K
YoY Change 79.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.362M -$2.470M
YoY Change
Total Liabilities & Shareholders Equity $2.912M $3.468M
YoY Change -16.03% 141.21%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$3.562M -$1.820M
YoY Change 95.74% 205.84%
Depreciation, Depletion And Amortization $26.18K $9.907K
YoY Change 164.26% 29.12%
Cash From Operating Activities -$669.5K -$424.4K
YoY Change 57.76% 63.24%
INVESTING ACTIVITIES
Capital Expenditures $21.13K $20.27K
YoY Change 4.27% -220.05%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$1.286M
YoY Change -100.0% -63133.82%
Cash From Investing Activities -$21.13K -$1.306M
YoY Change -98.38% 8701.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $283.6K $1.671M
YoY Change -83.02% 549.73%
NET CHANGE
Cash From Operating Activities -$669.5K -$424.4K
Cash From Investing Activities -$21.13K -$1.306M
Cash From Financing Activities $283.6K $1.671M
Net Change In Cash -$407.0K -$59.97K
YoY Change 578.76% 238.8%
FREE CASH FLOW
Cash From Operating Activities -$669.5K -$424.4K
Capital Expenditures $21.13K $20.27K
Free Cash Flow -$690.6K -$444.7K
YoY Change 55.32% 82.91%

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554481 usd
CY2021Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
201148 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-267342 usd
CY2022Q1 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-1564 usd
CY2021Q1 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
1946 usd
CY2022Q1 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
571666 usd
CY2021Q1 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
59730 usd
CY2022Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-50000 usd
CY2021Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
61458 usd
CY2021Q1 us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
265866 usd
CY2022Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-48945 usd
CY2021Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-37023 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-669504 usd
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-424389 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
21131 usd
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20265 usd
CY2021Q1 KGKG Payments For Proceeds From Goodwill
PaymentsForProceedsFromGoodwill
1275938 usd
CY2021Q1 KGKG Payments For Proceeds From In Intellectual Property
PaymentsForProceedsFromInIntellectualProperty
9953 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-21131 usd
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1306156 usd
CY2022Q1 KGKG Repayments Of Long Term Lines Of Credits
RepaymentsOfLongTermLinesOfCredits
1500 usd
CY2021Q1 KGKG Repayments Of Long Term Lines Of Credits
RepaymentsOfLongTermLinesOfCredits
3000 usd
CY2022Q1 KGKG Proceeds From Payment Of Acquisition Obligation
ProceedsFromPaymentOfAcquisitionObligation
3224 usd
CY2021Q1 KGKG Proceeds From Payment Of Acquisition Obligation
ProceedsFromPaymentOfAcquisitionObligation
-642284 usd
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1899 usd
CY2022Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
292219 usd
CY2022Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1994 usd
CY2021Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
913809 usd
CY2021Q1 KGKG Proceeds From Ppp Notes Payable
ProceedsFromPppNotesPayable
117487 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
283602 usd
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1670578 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-407033 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-59967 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
703825 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
113168 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
296792 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
53201 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
130 usd
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
17205 usd
CY2022Q1 us-gaap Stock Issued1
StockIssued1
135000 usd
CY2022Q1 KGKG Common Shares Issued On Conversion Of Debentures And Accrued Interest
CommonSharesIssuedOnConversionOfDebenturesAndAccruedInterest
3189414 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-4362006 usd
CY2022Q1 us-gaap Cash
Cash
296792 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-3561562 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-669504 usd
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_zRZY4w9Tea6a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_868_zdiRlCGS6d0e">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Those estimates and assumptions include estimates for reserves of uncollectible accounts receivable, assumptions used in valuing inventories at net realizable value, impairment testing of recorded long-term tangible and intangible assets, the valuation allowance for deferred tax assets, accruals for potential liabilities, assumptions made in valuing stock instruments issued for services, and assumptions used in valuing warrant liabilities, and assumptions used in the determination of the Company’s liquidity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q1 KGKG Sales Percentage
SalesPercentage
0.03 pure
CY2022Q1 KGKG Sales Returns And Allowances
SalesReturnsAndAllowances
35100 usd
CY2021Q1 KGKG Sales Returns And Allowances
SalesReturnsAndAllowances
23413 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
995131 usd
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
462408 usd
CY2022Q1 KGKG Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1.15 pure
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
995131 usd
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
462408 usd
CY2022Q1 KGKG Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1.15 pure
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1695611077 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
964533357 shares
CY2022Q1 us-gaap Advertising Expense
AdvertisingExpense
52419 usd
CY2021Q1 us-gaap Advertising Expense
AdvertisingExpense
10300 usd
CY2022Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zudF12U3Co" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_868_zEnZHBzBjO76">Concentrations</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s cash balances on deposit with banks are guaranteed by the Federal Deposit Insurance Corporation (FDIC) up to $<span id="xdx_903_eus-gaap--CashFDICInsuredAmount_iI_c20220331_z1wz0g60EVe9" title="Cash FDIC insured amount">250,000</span>. Generally, the Company’s policy is to minimize borrowing costs by immediately applying cash receipts to borrowings against its credit facility. From time to time, however, the Company may be exposed to risk for the amounts of funds held in bank accounts in excess of the FDIC limit. To minimize the risk, the Company’s policy is to maintain cash balances with high quality financial institutions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Gross sales.</i> During the three months ended March 31, 2022, the Company reported no customers that accounted for more than <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember_zjIRLOx6CWmb">10</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of gross sales. During the three months ended March 31, 2021, the Company reported one customer represented <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20210331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zMsYF19Oh444">12</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of the Company’s gross sales.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Accounts receivable.</i> As of March 31, 2022, the Company had no customers that accounted for <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220331__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember_zT8TUla4MZTe">10</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% or more of its gross accounts receivable. As of December 31, 2021, the Company had accounts receivable from two customers that comprised <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember_za6GPmjfZPWi">60</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of its gross accounts receivable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Co-Packers. </i>The raw materials used in the production of the Company’s products are obtained by the Company’s co-packers and consist primarily of materials such as the flavors, caffeine, sugars or sucralose, taurine, vitamins, CBD, and hemp seed protein contained in its beverages, the bottles in which its beverages are packaged, and the labeling on the outside of its beverages. These principal raw materials are subject to price and availability fluctuations. The Company currently relies on a few key co-packers, which in turn rely on a few key suppliers. The Company continually endeavors to have back-up co-packers, which co-packers would in turn depend on their third-party suppliers to supply certain of the flavors and concentrates that are used in the Company’s beverages. The Company is also dependent on these co-packers to negotiate arrangements with their existing suppliers that would enable the Company to obtain access to certain of such concentrates or flavor formulas under certain extraordinary circumstances. Additionally, in a limited number of cases, the Company’s co-packers may have contractual restrictions with their suppliers or the Company’s co-packers may need to obtain regulatory approvals and licenses that may limit the co-packers’ ability to enter into agreements with alternative suppliers. Contractual restrictions in the agreements the Company has with certain distributors may also limit the Company’s ability to enter into agreements with alternative distributors. The Company believes that a satisfactory supply of co-packers will continue to be available at competitive prices, although there can be no assurance in this regard. The Company continually endeavors to contract with additional beverage vendors to ensure the Company has adequate inventory. The Company believes that a satisfactory supply of vendors will continue to be available at competitive prices, although there can be no assurance in this regard.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Purchases from vendors.</i> During the period ended March 31, 2022, the Company’s largest three vendors accounted for approximately <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220331__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember_zrL90FhVl1I6" title="Concentration risk, percentage">27</span>%, <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220331__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorTwoMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember_zDQJMmjXKex1" title="Concentration risk, percentage">12</span>%, and <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220331__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__srt--MajorCustomersAxis__custom--VendorThreeMember_z8dHwtVmVYS5" title="Concentration risk, percentage">10</span>% of all purchases, respectively. During the period ended March 31, 2021, the Company’s largest four vendors accounted for approximately <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20210331__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember_zfHIfea48li3" title="Concentration risk, percentage">29</span>%, <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20210331__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorTwoMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember_zlJec2fJ0ew" title="Concentration risk, percentage">16</span>%, <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20210331__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__srt--MajorCustomersAxis__custom--VendorThreeMember_zWqrXcna9D2e" title="Concentration risk, percentage">11</span>%, and <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20210331__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__srt--MajorCustomersAxis__custom--VendorFourMember_zMe8Y41My5Kh" title="Concentration risk, percentage">10</span>% of all purchases, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Accounts payable.</i> As of March 31, 2022, one vendor accounted for <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220331__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__srt--MajorCustomersAxis__custom--VendorOneMember_zbW3zNMPpSvk" title="Concentration risk, percentage">14</span>% of the total accounts payable. As of December 31, 2021, four vendors accounted for more than 10% the total accounts payable. The Company’s largest four vendors accounted for <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__srt--MajorCustomersAxis__custom--VendorOneMember_zvXdB4ZncxG5" title="Concentration risk, percentage">20</span>%, <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorTwoMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember_zdfOlNOUygA8" title="Concentration risk, percentage">14</span>%, <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorThreeMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember_zwLUp2OeRK1j" title="Concentration risk, percentage">12</span>%, and <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorFourMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember_zbcRhicF17gf" title="Concentration risk, percentage">11</span>% of the total accounts payable, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
451318 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
70592 usd
CY2022Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
677974 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
504219 usd
CY2022Q1 us-gaap Inventory Net
InventoryNet
1129292 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
574811 usd
CY2022Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
150000 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
150000 usd
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
473289 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
452158 usd
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
127865 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
104121 usd
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
345424 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
348037 usd
CY2022Q1 us-gaap Finite Lived Trademarks Gross
FiniteLivedTrademarksGross
85340 usd
CY2021Q4 us-gaap Finite Lived Trademarks Gross
FiniteLivedTrademarksGross
85340 usd
CY2022Q1 KGKG Finite Lived Gross Website Development Trademarks
FiniteLivedGrossWebsiteDevelopmentTrademarks
12200 usd
CY2021Q4 KGKG Finite Lived Gross Website Development Trademarks
FiniteLivedGrossWebsiteDevelopmentTrademarks
12200 usd
CY2022Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
24024 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
21585 usd
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
73516 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
75955 usd
CY2022Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
2439 usd
CY2021Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
2247 usd
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
7315 usd
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
9754 usd
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
9754 usd
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
9754 usd
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
9754 usd
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
27185 usd
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
73516 usd
CY2022Q1 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
1530151 usd
CY2021Q4 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
1531651 usd
CY2022Q1 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
177500 usd
CY2021Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
6000 usd
CY2022Q1 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
1352651 usd
CY2021Q4 us-gaap Notes Payable Related Parties Noncurrent
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CY2022Q1 KGKG Gain On Extinguishment Of Derivative Liabilities
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CY2022Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
1875000 usd
CY2022Q1 us-gaap Lease Cost
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CY2021Q1 us-gaap Lease Cost
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CY2021Q4 KGKG Operating Lease Liabilities Right Of Use Asset
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CY2022Q1 KGKG Operating Leases
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CY2022Q1 KGKG Operating Lease Liabilities Right Of Use Asset
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CY2021Q4 KGKG Lease Liabilities
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1052720 usd
CY2021Q4 us-gaap Finance Lease Liability
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CY2021Q4 us-gaap Operating Lease Liability
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CY2022Q1 KGKG Increase In Operating Lease
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CY2022Q1 us-gaap Finance Lease Interest Payment On Liability
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1001875 usd
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CY2022Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2022Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
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CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2022Q1 KGKG Lessee Operating Lease Liability Payments Due Four And After Year Four
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CY2022Q1 us-gaap Operating Leases Future Minimum Payments Due
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CY2022Q1 KGKG Present Value Of Net Minimum Lease Payments
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CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2022Q1 us-gaap Preferred Stock Shares Issued
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988000 shares
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988000 shares
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
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988000 shares
CY2022Q1 us-gaap Common Stock Shares Authorized
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CY2021Q4 us-gaap Common Stock Shares Issued
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CY2021Q4 us-gaap Common Stock Shares Outstanding
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CY2022Q1 us-gaap Stock Repurchased During Period Value
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CY2021 us-gaap Stock Repurchased During Period Value
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
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CY2021Q4 KGKG Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice
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CY2022Q1 KGKG Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Exercisable Price
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0.03
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170000000 shares
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CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecreaseWeightedAverageExercisePrice
0.03
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
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170000000 shares
CY2022Q1 KGKG Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice
0.03
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
0.0076

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