Company: JSDA
Filing Date: 2025-07-03
Form Type: S-1
Source: 0001641172-25-017818
Chunk: 18

Company: JONES SODA CO.
Filing Date: 2025-07-03
Form: S-1
Chunk 18
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 |   |     |          |              1 |   |
| Interest expense                                               |     |                       |            (78 | ) |     |             |              - |   |   |     |          |            (78 | ) |
| Other expense                                                  |     |                       |            (94 | ) |     |             |              - |   |   |     |          |            (94 | ) |
| Total other (expense) income                                   |     |                       |           (171 | ) |     |             |              - |   |   |     |          |           (171 | ) |
| Loss before income taxes                                       |     |                       |           (852 | ) |     |             |           (190 | ) |   |     |          |         (1,042 | ) |
| Income tax expense, net                                        |     |                       |              - |   |     |             |              - |   |   |     |          |              - |   |
| Net loss                                                       |     | $                     |           (852 | ) |     | $           |           (190 | ) |   |     | $        |         (1,042 | ) |
| Net loss per share - basic and diluted                         |     | $                     |          (0.01 | ) |     | $           |          (0.00 | ) |   |     | $        |          (0.01 | ) |
| Weighted average common shares outstanding - basic and diluted |     |                       |    115,865,227 |   |     |             |    116,564,670 | l |   |     |          |    116,564,670 |   |

| 9 |

<div align='center'>Notes to the Unaudited Pro Forma Condensed Consolidated Financial Statements</div>

| 1. | Basis of Pro Forma Presentation |

The unaudited pro forma condensed consolidated
financial information is based on the Company’s historical consolidated financial statements as adjusted to give effect to the
transaction accounting adjustments in accordance with GAAP to reflect the Sale Transaction.

The Sale Transaction met the criteria requiring
discontinued operations presentation in accordance with accounting principles generally accepted in the United States of America (“U.S.
GAAP”). The License Agreement and SPA are considered a disposition of significant business under Item 2.01 of the SEC’s Current
Report on Form 8-K. As a result, the Company prepared the accompanying unaudited pro forma