secwatch.observer — SEC 8-K summary
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Issuer:     JONES SODA CO. (JSDA)
CIK:        0001083522
Form:       8-K
Filed at:   2025-06-30T23:59:59+00:00
Accession:  0001641172-25-017039
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.01, 9.01, 5.02, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Jones Soda sells cannabis Mary Jones subsidiaries for $3M; VP Gabe Carimi departs
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- Sold all equity of Mary Jones Holdings and Mary Jones Beverage (Canada) to MJ Reg Disruptors for $3M cash & note plus ~$61k inventory.
- Buyer issued a $2.51M secured promissory note; payments due by June 2028 with interest at lower of 3% or legal max.
- Entered trademark license with MJ Holdings for THC products; annual fees $150K year 1, $225K thereafter.
- Gabe Carimi, VP of Operations, left effective June 13; receives 166,666 fully vested options; also signed 2-year advisory agreement for 333,334 options vesting over 2 years.
- Two Shores Capital released former guarantors and terminated liens in connection with the sale.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083522/000164117225017039/0001641172-25-017039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083522/000164117225017039/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-017039

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer