JONES SODA CO.

Jones Soda Co. announced the closing of a private placement, raising $2.5 million in gross proceeds. The company issued 7,500,000 units, each comprising one common share and one-half of a share purchase warrant, priced at $0.33 per unit. The funds are earmarked for supporting growth initiatives and general corporate purposes. Additionally, the company entered into a registration rights agreement, committing to file an SEC registration statement within 30 days to allow for the resale of the issued shares and those underlying the warrants.

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.

Jones Soda Co. reported a significant financial turnaround in the first quarter of 2026, with net revenue surging to $12.43 million and the company swinging to a net income of $0.12 million from a loss in the prior year. The company also saw a substantial improvement in its operating income and cash flow from continuing operations. Management believes its current cash, projected sales, and a $10 million credit facility are sufficient to fund operations for at least 12 months, addressing historical going concern doubts.

JONES SODA CO. filed an amendment to its 2025 Annual Report on Form 10-K, detailing executive compensation and corporate governance for the fiscal year ended December 31, 2025. CEO Scott Harvey received $1.39 million in total compensation, while CFO Brian Meadows received $429,725 and COO Darcey Maken received $280,481. The filing also outlined the composition of the Board of Directors and its committees, along with the company's corporate governance policies.