Jones Soda Co.
0.1650-0.02 (-13.2%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCQB · JSDA · USD
Key Stats
Market Cap
19.42MP/E (TTM)
-Basic EPS (TTM)
-0.05Dividend Yield
0%Recent Filings
8-K
Auditor change amid control issues
Jones Soda Co. dismissed its auditor Berkowitz, Pollack Brant Advisors + CPAs on October 9, 2025, and appointed Davidson & Company LLP in its place, with Audit Committee approval. The switch follows clean audit reports for 2023 and 2024, but highlights ongoing material weaknesses in internal controls from senior accounting transitions and insufficient staffing. No disagreements arose. The firm swap signals efforts to shore up financial oversight amid these gaps.
8-K
CFO incentive options granted
Jones Soda Co. agreed to grant CFO Brian Meadows options for 750,000 common shares on September 9, 2025, under its 2022 Omnibus Equity Incentive Plan, contingent on completing unspecified milestones. The options vest over three years with annual cliff vesting, one-third per anniversary, if he stays employed. This ties executive pay to performance. Yet vesting hinges on continued service.
10-Q
Q2 FY2025 results
Jones Soda's Q2 revenue fell 26.4% y/y to $4.9M, with gross margin steady at 33.3%, while operating loss narrowed to $0.8M from $1.7M thanks to sharp cuts in selling and marketing (down 39%) and G&A (down 39%). The quarter swung to net income of $2.6M from a $1.6M loss, boosted by a $3.7M gain on selling its cannabis subsidiaries in June 2025 for $3.0M in promissory notes and a $1.7M licensing deal, recognizing $2.6M fair value for the notes. Cash dipped to $0.7M amid $2.6M operating burn, offset by $0.6M from the sale and $0.7M financing inflows, including a $5.0M facility at 13.75% (drawn $0.9M) and a $0.5M chairman note at 12%. Diluted EPS of $0.02 aligns with 116M shares; no anti-dilution flagged. U.S. sales drove 82% of revenue. Yet competition from larger players looms large.
8-K
Annual meeting elects board
Jones Soda Co. shareholders convened their 2025 annual meeting on July 18, re-electing the full board—Paul Norman, Ronald Dissinger, Clive Sirkin, Gregg Reichman, and Mark Murray—despite notable withheld votes exceeding 10 million shares for each. They advisory-approved 2024 executive compensation by a 24.9 million to 10.1 million margin, while overwhelmingly ratifying Berkowitz Pollack Brant as auditors with 44 million for versus 17 million against. Continuity holds firm. No strategic shifts emerged from the routine vote.
8-K
Jones sells cannabis units for $3M
Jones Soda Co. sold its Mary Jones cannabis subsidiaries to MJ Reg Disruptors on June 19, 2025, for $3 million plus $61,000 in inventory, netting $489,399 cash upfront and a $2.51 million secured note payable through 2028 at 3% interest. The deal includes a trademark license granting exclusive use of the Mary Jones brand for THC products, yielding $150,000 initially and $225,000 annually thereafter, while Jones retains hemp rights. This sharpens focus on core sodas and hemp-derived THC lines, but regulatory shifts could slash note payments by up to 45% in affected jurisdictions.
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