Company: JSDA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-011093
Chunk: 11

Company: JONES SODA CO.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 11
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,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 March 31, 2025 and December 31, 2024, these warrants remained outstanding.

The
following table presents a summary of the Company’s outstanding warrants as of March 31, 2025:

 Schedule of Warrants Outstanding

    Expiry
    Date 
    Number
    Outstanding  
    Remaining
    Contractual Life (Years)  
    Exercise
                                            Price Per Share (in
                                            dollar)  
    Number
    Exercisable 
  
    July 26, 2026 
     3,767,500  
     1.32  
    $0.50  
     3,767,500 
  
    July 31, 2026 
     800,000  
     1.33  
     0.50  
     800,000 
  
    August 21, 2026 
     937,500  
     1.39  
     0.50  
     937,500 

     5,945,400  

     5,945,400 

    15

    9.
    Segment
    Information

The
Company’s operating and reportable segments consist of the following:

Beverages:
This segment includes both Jones Soda’s traditional craft sodas, known for their unique flavors, pure cane sugar formulation,
and consumer-driven branding as well as our modern soda’s such as Pop Jones, Fiesta Jones and hemp derived products such as HD9.
The products are distributed through various channels, including retail stores, foodservice outlets, and direct-to-consumer platforms.

Cannabis-Derived
(THC) Beverages: This segment features beverages and edibles infused with cannabis-derived THC compounds. These products cater
to alternative lifestyle markets and are distributed through regulated channels such as licensed dispensaries. Each State in