Company: JSDA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024179
Chunk: 21

Company: JONES SODA CO.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 21
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 claims, contract disputes, product liability, other general liability claims and government and
regulatory actions, as well as trademark, copyright, and related claims and legal actions. In the opinion of our management, the
ultimate disposition of these matters will not have a material adverse effect on our condensed consolidated financial position,
results of operations or liquidity.

13. Subsequent Events

As
disclosed in Note 6, the Company issued 250,000 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.

As
disclosed in Note 8, subsequent to June 30, 2025, the Company made an additional principal repayment of $135,000 with respect to the
Notes previously issued to the Chair of the Company’s Board of Directors.

The
Company granted an aggregate of 2,213,765 RSUs to members of its Board of Directors. Pursuant to the grant terms, 50% of the RSUs vested
on July 31, 2025, and the remaining RSUs are scheduled to vest in equal installments on September 30, 2025, and December 31, 2025. In
connection with the vesting of the RSUs, the Company issued 1,106,884 shares of its common stock to settle the vested awards.

18

    ITEM
    2.
    MANAGEMENT’S
    DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

You
should read the following discussion and analysis in conjunction with our unaudited condensed consolidated financial statements and related
notes included elsewhere in this Report and our audited consolidated financial statements and notes thereto for the year ended December
31, 2024 included in our Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission (“SEC”)
on April 1, 2025.

This
Report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases,
you can identify forward-looking statements by terminology such as “believe,” “expect,” “intend,”
“anticipate,” “estimate,” “may,” “will,” “can,”
“plan,” “predict,” “could,” “future,” “continue,”
variations of such words, and similar expressions. These statements are only predictions. Actual events or results may differ materially.
In evaluating these statements, you should specifically consider