Company: JSDA
Filing Date: 2025-07-03
Form Type: S-1
Source: 0001641172-25-017818
Chunk: 60

Company: JONES SODA CO.
Filing Date: 2025-07-03
Form: S-1
Chunk 60
---
 celebrity chefs and a variety of other outlets looking for differentiated offerings in their fountain soda. We feel that Jones on fountain enhances the consumer experience, while appealing to a broad demographic. We believe our national brand awareness and customer-centric approach make us unique compared to other craft soda competitors within this category.

Our Focus: Sales Growth

Our focus is sales growth through execution of the following key initiatives:

| ● | Expand                                                                   
 the Jones Soda glass bottle business in existing and new sales channels; |

| ● | Expand                                                                                  
 our business in the modern soda category through our Pop Jones and Fiesta Jones brands; |

| ● | Expand                                                
 our fountain program in the United States and Canada; |

| ● | Grow                                                                                            
 the Mary Jones brand of hemp-derived Delta-9 THC beverages, edibles, and other related products 
 through our Mary Jones brand; and                                                               |

| ● | Grow                                                              
 the Spiked Jones brand of hard craft sodas “spiked” with alcohol. |

Recent Developments

On June 19, 2025, we sold all of the equity interests in our wholly-owned subsidiaries that held our THC infused cannabis business in both the United States and Canada to an independent third party for $3,000,000 and inventory as set forth in the SPA for approximately $61,000. A portion of the Share Purchase Price was paid pursuant to the issuance of the Note. In addition, we entered into a License Agreement with MJ Holdings. See “Business - Recent Developments - Mary Jones Holdings and Mary Jones Beverage (Canada)” for additional information.

On June 19, 2025, in connection with the sale
of all of the equity interests in the MJ Subsidiaries pursuant to the terms of the SPA, the Company entered into the Two Shores Release
with Two Shores pursuant to which Two Shores consented to the sale of the MJ Subsidiaries and fully and irrevocably released the Former
Guarantors from their obligations under the Guaranty. In addition, the Liens held by Two Shares in the assets of each Former Guarantor
were automatically terminated. Furthermore, the Releasing released the Releasees from all demands, actions, suits, and damages which
the Releasing Parties had or may in the future have against the Releasees.

On May 7, 2025, the Company entered into a loan agreement with the Chairman of the Company’s Board of Directors in the amount of $450,000. The interest rate on this loan is 12% per