StockWatch
·
Beverages
AuditorMay 22, 2026, 05:27 PM

Jones Soda Amends 10-K to Furnish 2024 Audit Report, Correct PCAOB ID

AI Summary

Jones Soda Co. filed Amendment No. 2 to its 2025 Annual Report on Form 10-K to furnish an inadvertently omitted audit report for the fiscal year ended December 31, 2024, by Berkowitz Pollack Brant, Advisors + CPAs. The amendment also corrects the PCAOB ID number of Davidson and Company LLP and includes new consents from both former and current independent auditors, along with updated CEO and CFO certifications. The company reported a reduced net loss of $1.78 million in 2025, significantly down from $9.90 million in 2024, with net revenue increasing to $25.30 million from $17.79 million. However, the company continues to face recurring losses and a net capital deficiency, raising substantial doubt about its ability to continue as a going concern.

Key Highlights

  • Furnished inadvertently omitted audit report for fiscal year 2024 by Berkowitz Pollack Brant.
  • Corrected PCAOB ID number for Davidson and Company LLP in the 2025 Annual Report.
  • Net loss for 2025 improved to $(1.78) million from $(9.90) million in 2024.
  • Net revenue increased to $25.30 million in 2025 from $17.79 million in 2024.
  • Cash and cash equivalents rose to $3.60 million as of December 31, 2025, from $1.28 million in 2024.
  • Accumulated deficit increased to $(94.73) million as of December 31, 2025.
  • Company continues to experience recurring losses and a going concern warning.
  • Secured a $10 million loan agreement facility in 2025 to support operations.