JONES SODA CO. (JSDA): auditor change — Jones Soda restates 2021 and 2022 interim financials due to $903k insurance financing error

JONES SODA CO.

Audit Committee concludes 2021 annual and Q1/Q2 2022 interim statements should no longer be relied upon.
Error: failure to record $903k prepaid asset and liability from IPFS insurance premium financing agreement.
Restatement increases current assets and liabilities by $903k (Dec 2021), $597k (Mar 2022), $289k (Jun 2022); no P&L impact.
Company will include restated financials in 2022 10-K expected March 29, 2023.

item 4.02

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

JONES SODA CO. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Armanino LLP

Exact text from the filing

On March 28, 2023, the Audit Committee of the Board of Directors (the "Audit Committee") of Jones Soda Co. (the "Company") in consultation with the management of the Company and the Company’s independent registered public accounting firm, Armanino LLP, reached a determination that the Company’s consolidated financial statements and related disclosures for the year ended December 31, 2021, included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 14, 2022, and for each of the quarterly and year-to-date periods ended March 31, 2022 and June 30, 2022, should no longer be relied upon because of a certain misstatement contained in those condensed consolidated financial statements.

View on SEC.gov

4 auditor changes filed in the last 30 days. Browse all auditor changes →

JONES SODA CO. filing history →

Source: SEC EDGAR

accession 0001437749-23-008379

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.