Company: JSDA
Filing Date: 2025-07-03
Form Type: S-1
Source: 0001641172-25-017818
Chunk: 103

Company: JONES SODA CO.
Filing Date: 2025-07-03
Form: S-1
Chunk 103
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 person transaction, the Audit Committee will review relevant facts regarding the related person transaction, including:

| ● | the                                                                                     
 extent of the related person’s interest in the transaction;                             |
| ● | whether                                                                                 
 the terms are comparable to those generally available in arm’s-length transactions; and |
| ● | whether                                                                                 
 the related person transaction is consistent with the best interests of the Company.    |

The related person involved in the related person transaction may participate in the approval/ratification process only to provide additional information as needed for the Audit Committee’s review. If any related person transaction is not approved or ratified by the Audit Committee, the Audit Committee may take such action in respect of the transaction as it may deem necessary or desirable in the best interests of the Company and its shareholders. If any related person transaction is ongoing or is part of a series of transactions, the Audit Committee may establish guidelines as necessary to appropriately review the ongoing related person transaction. After initial approval/ratification of the transaction, the Audit Committee will review the related person transaction on a regular basis (at least annually).

The Audit Committee is authorized to administer our related person transactions policy, and may amend, modify and interpret the policy as it deems necessary or desirable. Any material amendments or modifications to the policy will be reported to the full Board of Directors at its next regularly scheduled meeting. In addition, the Audit Committee will conduct a regular review and assessment of the policy.

| 65 |

<div align='center'>PRINCIPAL SHAREHOLDERS</div>

The following table sets forth certain information regarding the beneficial ownership of our common stock as of June 30, 2025 by:

| ● | each                                                                          
 of our Named Executive Officers;                                              |
| ● | each                                                                          
 of our directors;                                                             |
| ● | all                                                                           
 of our current directors and executive officers as a group; and               |
| ● | each                                                                          
 shareholder known by us to own beneficially more than 5% of our common stock. |

Beneficial ownership is determined in accordance
with the rules of the SEC and includes voting or investment power with respect to the securities. Shares of common stock that may be
acquired by an individual or group within 60 days of June 30, 2025, pursuant to the exercise of options or warrants or conversion
of preferred stock or convertible debt are deemed to be outstanding for the purpose of computing the percentage ownership of such individual
or group, but are not deemed to be outstanding for the purpose of computing the percentage