Company: JSDA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024179
Chunk: 17

Company: JONES SODA CO.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 17
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52 
  
    General and administrative 
     136  
     429  
     214  
     567 
  
    Stock-based compensation
    expense 
    $196  
    $461  
    $287  
    $619 

    16

We
employ the following key weighted-average assumptions in determining the fair value of stock options, using the Black-Scholes option
pricing model and the simplified method to estimate the expected term of “plain vanilla” options:

 Schedule of Weighted-average Assumptions in Fair Value of Stock Options

    June 30, 2025  
    June 30, 2024 
  
    Expected dividend yield 
     -  
     - 
  
    Expected stock price volatility 
     76.0% 
     89.3%
  
    Risk-free interest rate 
     4.46% 
     4.20%
  
    Expected term (in years) 
     10.0  
     5.90 
  
    Weighted-average grant date fair-value 
    $0.21  
    $0.18 

As
of June 30, 2025, the aggregate intrinsic value of outstanding stock options was approximately $11,500, while the intrinsic value of
exercisable options was approximately $4,000. Intrinsic value is calculated as the quoted market price of the stock at the balance sheet
date less the exercise price of the option.

    (d)
    Warrants

During
the year ended December 31, 2024, the Company issued 5,505,000 warrants, each with an exercise price of $0.50 per warrant, exercisable
for a period of 24 months from the issuance date. Additionally, 440,400 broker’s warrants were issued in connection with private
placements completed during the year ended December 31, 2024. As of June 30, 2025 and December 31, 2024, these warrants remained outstanding.

As
discussed in Note 6, in connection with the Loan Agreement with Two Shores Capital Corp., the Company issued 750,000 warrants to Two
Shores Capital Corp., exercisable at a price of $0.45 per share for a period of three years from the date of issuance.

The
following table presents a summary of the Company’s outstanding warrants as of June 30, 2025:

 Schedule of W