Company: JSDA
Filing Date: 2025-06-30
Form Type: 8-K
Source: 0001641172-25-017039
Chunk: 1

Company: JONES SODA CO.
Filing Date: 2025-06-30
Form: 8-K
Item: Item 2.01
Chunk 1
---
 consulting services.
Pursuant to the Advisory Agreement, in addition to expenses for his services, Mr. Carimi shall receive options to purchase up to 333,334
shares of the Company’s common stock at an exercise price of $[ ] per share pursuant to the Equity Incentive Plan, which options
shall vest as follows: (1) 166,667 of the options shall vest on the date that is the one year anniversary of the Effective Date and (2)
166,667 of the Options shall vest on the date that is the two year anniversary of the Effective Date. The Advisory Agreement shall continue
for a period of two years from the Effective Date unless terminated earlier pursuant to the terms thereof.

  -5-  

Item
8.01. Other Events.

In
connection with the sale of the MJ Subsidiaries to the Buyer as set forth above, the Company is providing, in this Current Report on
Form 8-K: (i) the unaudited pro forma condensed consolidated statements of operations for the year ended December 31, 2024,
(ii) the unaudited pro forma condensed consolidated statements of operations for the three months ended March 31, 2025, (iii)
the unaudited pro forma condensed consolidated balance sheets as at March 31, 2025 and the notes thereto which are collectively filed
as Exhibit 99.1 and are incorporated herein by reference.

The
unaudited pro forma condensed combined financial statements are based on the Company’s historical consolidated financial statements
adjusted to give effect to the sale of the MJ Subsidiaries. The unaudited pro forma condensed combined statements of operations
for the year ended December 31, 2024 and the three months ended March 31, 2025 have been prepared with the assumption that the sale occurred
as of January 1, 2024 and January 1, 2025, respectively. The unaudited pro forma condensed combined balance sheet as at March
31, 2025 has been prepared with the assumption that the sale was completed as of the balance sheet date.

The
unaudited pro forma condensed combined financial information included in this Current Report on Form 8-K has been presented
for informational purposes only. Unaudited pro forma condensed combined financial do not necessarily reflect what the Company’s
financial condition or results of operations would have been had sale of the MJ Subsidiaries occurred on the dates indicated, or which
may result in the future