JONES SODA CO. — fact timeline

Mark Murray retired as Director at JONES SODA CO..

“On July 13, 2026, Mark Murray informed the Board of Directors (the “Board”) of Jones Soda Co. (the “Company”) that he was retiring from the Board effective immediately for personal reasons.”

JONES SODA CO. reported first quarter and full year 2026 results: revenue Q1 2026 revenue to exceed $12M; FY2026 revenue to exceed $40M. Guidance raised.

“First Quarter and 2026 Revenue Guidance The following”

JONES SODA CO. reported full year ended December 31, 2025 results: revenue increased 41.9% to $25.3 million, net income Net loss was reduced by $8.1 million to $1.8 million, EPS $(0.01) per share.

“Full Year 2025 Financial Results Revenue increased 41.9% to $25.3 million compared to $17.8 million in the prior year.”

JONES SODA CO. reported fourth quarter ended December 31, 2025 results: revenue increased 450% to $11.7 million, net income Net loss from continuing operations was $1.8 million, EPS $(0.015) per share.

“Fourth Quarter 2025 Financial Summary vs. Fourth Quarter 2024 ● Revenue from continuing operations increased 450% to $11.7 million compared to $2.6 million in the year ago period.”

JONES SODA CO. entered into Assignment and Assumption of Debt Agreement with Two Shores Capital Corp. and MJ Reg Disrupters, LLC valued at $1,400,000 (effective 2026-01-16).

“On January 16, 2026, the Company entered into an Assignment and Assumption of Debt Agreement (the “Agreement”) with Two Shores Capital Corp. (“Assignee”), and Debtor pursuant to which the Company agreed to assign the Note to Assignee for a cash payment of $1,400,000.”

JONES SODA CO. amended Amended Loan Agreement with Two Shores Capital Corp. valued at $10 million (effective 2025-12-01).

“On December 1, 2025, Jones Soda Co. (USA) Inc. (the “Subsidiary”), a wholly-owned subsidiary of Jones Soda Co. entered into an Amendment to Loan Agreement (the “Amended Loan Agreement”) with Two Shores Capital Corp. (the “Lender”), pursuant to which that certain Loan Agreement, dated February 6, 2025, between Subsidiary and Lender (the “Original Loan Agreement”), was amended by increasing the Revolving Loan Cap (as defined in the Original Loan Agreement) to $10 million.”

JONES SODA CO. amended revolving credit of $10 million with Two Shores Capital Corp..

“On December 1, 2025, Jones Soda Co. (USA) Inc. (the “Subsidiary”), a wholly-owned subsidiary of Jones Soda Co. entered into an Amendment to Loan Agreement (the “Amended Loan Agreement”) with Two Shores Capital Corp. (the “Lender”), pursuant to which that certain Loan Agreement, dated February 6, 2025, between Subsidiary and Lender (the “Original Loan Agreement”), was amended by increasing the Revolving Loan Cap (as defined in the Original Loan Agreement) to $10 million.”

JONES SODA CO. engaged Davidson & Company LLP as its auditor.

“ngagement of Independent Registered Public Accounting Firm Additionally on October 9, 2025, through and with the approval of its Audit Committee, the Company appointed Davidson & Company LLP (“Davidson”) as its independent registered public accounting firm.”

JONES SODA CO. dismissed Berkowitz, Pollack Brant Advisors + CPAs, LLP as its auditor.

“ismissal of Independent Registered Public Accounting Firm On October 9, 2025, through and with the approval of its Audit Committee, Jones Soda Co. (the “Company”) dismissed Berkowitz, Pollack Brant Advisors + CPAs, LLP (“BPB”) as its independent registered public accounting firm.”

JONES SODA CO. completed a disposition involving MJ Reg Disruptors, LLC for $3,000,000 (closed 2025-06-19).

“(the “Buyer”) pursuant to which, on June 19, 2025 (the “Closing Date”), the Buyer purchased all of the issued and outstanding shares of the MJ Subsidiaries from the Company for $3,000,000 (the “Share Purchase Price”) and inventory as set forth in the SPA for approximately $61,000. The Share Purchase Price was paid as follows: (i) $489,398.70 was paid on the Closing”

JONES SODA CO. incurred credit facility of up to $5,000,000 with Two Shores Capital Corp. at 13.75% per annum.

“On February 5, 2025, Jones Soda Co. (USA) Inc. (the “Subsidiary”), a wholly-owned subsidiary of Jones Soda Co. (the “Company”) entered into a loan agreement (the “Loan Agreement”) with Two Shores Capital Corp. (the “Lender”), pursuant to which the Subsidiary may borrow a maximum aggregate amount of up to $5,000,000, subject to satisfaction of certain conditions.”

Paul Norman departed as Interim Chief Financial Officer at JONES SODA CO..

“replacing Paul Norman, who had served as Interim Chief Financial Officer since November 12, 2024.”

Paul Norman departed as Interim Chief Executive Officer at JONES SODA CO..

“replacing Paul Norman, who had served as Interim Chief Executive Officer since October 25, 2024.”

Brian Meadows was appointed as Chief Financial Officer at JONES SODA CO..

“Effective as of February 5, 2025, the Company’s Board of Directors appointed Brian Meadows, age 60, as the Company’s Chief Financial Officer, replacing Paul Norman, who had served as Interim Chief Financial Officer since November 12, 2024.”

Scott Harvey was appointed as President and Chief Executive Officer at JONES SODA CO..

“Effective as of February 5, 2025, the Company’s Board of Directors appointed Scott Harvey, age 63, as the Company’s President and Chief Executive Officer, replacing Paul Norman, who had served as Interim Chief Executive Officer since October 25, 2024.”

Ronald Dissinger was appointed as Interim Chief Financial Officer at JONES SODA CO..

“was replaced by Ronald Dissinger, a director on the Board of Directors of the Company (the “Board”), who will serve as Interim Chief Financial Officer of the Company effective as of November 4, 2024.”

Joe Culp resigned as Director of Finance and Interim Chief Financial Officer at JONES SODA CO..

“Effective as of November 4, 2024, Joe Culp, the Director of Finance and Interim Chief Financial Officer of Jones Soda Co. (the “Company”) resigned from the Company”

Paul Norman was appointed as Interim President and Chief Executive Officer at JONES SODA CO..

“Effective as of October 25, 2024, David Knight, the President and Chief Executive Officer of Jones Soda Co. (the “Company”) departed the Company being replaced by Paul Norman, the Chairman of the Board of Directors of the Company, who will serve as Interim President and Chief Executive Officer of the Company effective as of October 25, 2024.”

David Knight departed as President and Chief Executive Officer at JONES SODA CO..

“Effective as of October 25, 2024, David Knight, the President and Chief Executive Officer of Jones Soda Co. (the “Company”) departed the Company being replaced by Paul Norman, the Chairman of the Board of Directors of the Company, who will serve as Interim President and Chief Executive Officer of the Company effective as of October 25, 2024.”

Eric Bittner was terminated as Chief Operating Officer at JONES SODA CO..

“On September 23, 2024, Jones Soda Co. (the “Company”) terminated the employment of Eric Bittner, Chief Operating Officer of the Company, effective immediately.”

JONES SODA CO. shareholders approved Ratify the appointment of Berkowitz Pollack Brant Advisors + CPAs as the independent registered public accounting firm for fiscal year ending December 31, 2024 at the 2024-05-13 meeting.

“Proposal 3 The proposal to ratify the appointment of Berkowitz Pollack Brant Advisors + CPAs as the Company’s independent registered public accounting firm for the year ending December 31, 2024 was approved based on the following votes: For Against Abstentions Broker Non-Votes 39,566,886 315,772 1,796,862 -”

JONES SODA CO. shareholders approved Advisory vote to approve the Company’s 2023 named executive officer compensation at the 2024-05-13 meeting.

“Proposal 2 The proposal to approve, on an advisory basis, the Company’s 2023 named executive officer compensation was approved based on the following votes: For Against Abstentions Broker Non-Votes 18,351,142 3,337,232 257,577 19,733,569”

JONES SODA CO. shareholders approved Election of five directors to serve for a one-year term to expire at the 2025 annual meeting of shareholders at the 2024-05-13 meeting.

“The Company’s shareholders elected the following five directors to hold office until the 2025 annual meeting of shareholders or until their successors are duly elected and qualified based on the following votes:”

JONES SODA CO. reported first quarter ended March 31, 2024 results: revenue $5.0 million, net income $1.2 million, or $(0.01) per share, EPS $(0.01) per share.

“category space, announced its financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights vs. Year-Ago Quarter Revenue increased 29% to $5.0 million compared to $3.9 million. The first quarter of 2024 included approximately $600,000 in revenue from the Company’s Mary Jones business compared to approximately $200,000 in the”

Eric Bittner was appointed as Chief Operating Officer at JONES SODA CO..

“Mr. Bittner, age 44, has been hired as the Company’s Chief Operating Officer, effective March 12, 2024.”

Eric Chastain resigned as Chief Operating Officer at JONES SODA CO..

“Mr. Chastain resigned as the Company’s Chief Operating Officer, President of the Jones Beverage Division and Corporate Secretary, effective March 12, 2024.”

JONES SODA CO. reported fourth quarter and full year ended December 31, 2023 results: revenue $3.5 million, net income $1.5 million, EPS $(0.02) per share.

“space, announced its financial results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter 2023 Financial Summary vs. Year-Ago Quarter Revenue was $3.5 million compared to $3.7 million. The fourth quarter of 2023 included approximately $438,000 in revenue from the Company’s Mary Jones cannabis business compared to approximately $239,000”

JONES SODA CO. reported third quarter ended September 30, 2023 results: revenue $4.5 million, net income $0.9 million, or $(0.01) per share, EPS $(0.01) per share.

“photo labels, announced its financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Financial Summary vs. Year-Ago Quarter Revenue was $4.5 million compared to $4.8 million. The third quarter of 2023 included approximately $220,000 in revenue from the Company’s Mary Jones cannabis business. Gross profit as a percentage of”

JONES SODA CO. reported the quarter ended June 30, 2023 results: revenue $4.8 million, net income net loss of $1.0 million, EPS $(0.01) per share.

“Revenue was $4.8 million compared to $6.0 million.”

JONES SODA CO. engaged Berkowitz, Pollack Brant Advisors + CPAs as its auditor.

“Additionally on July 14, 2023, through and with the approval of its Audit Committee, the Company appointed Berkowitz, Pollack Brant Advisors + CPAs ("BPB") as its independent registered public accounting firm.”

JONES SODA CO. dismissed Armanino LLP as its auditor.

“On July 14, 2023, through and with the approval of its Audit Committee, Jones Soda Co. (the "Company") dismissed Armanino LLP ("Armanino") as its independent registered public accounting firm.”

David Knight was appointed as President and Chief Executive Officer at JONES SODA CO..

“the Board of Directors (the "Board") of the Company had appointed David Knight, age 59, to succeed Mr. Murray as the Company's President and Chief Executive Officer, effective June 23, 2023”

Mark Murray departed as President and Chief Executive Officer at JONES SODA CO..

“Mark Murray intends to retire as the Company's President and Chief Executive Officer, effective June 23, 2023”

Ronald Dissinger was appointed as Director and Audit Committee Chair at JONES SODA CO..

“On May 25, 2023, the Board of Directors (the “Board”) of Jones Soda Co. (the “Company”) appointed Ronald Dissinger to serve as a director on the Board until the Company’s next meeting of stockholders.”

JONES SODA CO. shareholders approved Ratification of Armanino LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023 at the 2023-05-15 meeting.

“The proposal to ratify the appointment of Armanino LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2023 was approved based on the following votes:”

JONES SODA CO. shareholders approved Advisory approval of the Company’s 2022 named executive officer compensation at the 2023-05-15 meeting.

“The proposal to approve, on an advisory basis, the Company’s 2022 named executive officer compensation was approved based on the following votes:”

JONES SODA CO. shareholders approved Election of five directors to serve for a one-year term to expire at the 2024 annual meeting of shareholders at the 2023-05-15 meeting.

“The Company’s shareholders elected the following five directors to hold office until the 2024 annual meeting of shareholders or until their successors are duly elected and qualified based on the following votes:”

JONES SODA CO. reported the first quarter ended March 31, 2023 results: revenue $3.9 million, net income $1.4 million, EPS $(0.01) per share.

“First Quarter 2023 Financial Summary vs. Year-Ago Quarter Revenue was $3.9 million compared to $4.5 million. Gross profit as a percentage of revenue increased 200 basis points to 29.3% compared to 27.3%. Net loss improved to $1.4 million, or $(0.01) per share, compared to a net loss of $1.7 million, or $(0.02) per share.”

Jamie Colbourne resigned as Director at JONES SODA CO..

“On April 1, 2023, Jamie Colbourne informed the Board of Directors (the “Board”) of Jones Soda Co. (the “Company”) that he was resigning from the Board effective immediately for personal reasons.”

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

“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.”

JONES SODA CO. reported FY 2022 results: revenue 19.1 million, net income 6.4 million, EPS (0.07).

“Full Year 2022 Financial Summary vs. Prior Year Revenue increased 29% to $19.1 million compared to $14.8 million. Gross profit as a percentage of revenue was 26.9% compared to 29.7%. Net loss was $6.4 million or $(0.07) per share, compared to a net loss of $1.8 million, or $(0.03) per share.”

JONES SODA CO. reported Q4 2022 results: revenue 3.7 million, net income 1.6 million, EPS (0.02).

“Fourth Quarter 2022 Financial Summary vs. Year-Ago Quarter Revenue increased 28% to $3.7 million compared to $2.9 million. Gross profit as a percentage of revenue was 24.8% compared to 26.5%. Net loss was $1.6 million, or $(0.02) per share, compared to a net loss of $1.3 million, or $(0.02) per share.”

Gregg Reichman was appointed as Director at JONES SODA CO..

“On February 27, 2023, the Board of Directors (the “Board”) of Jones Soda Co. (the “Company”) appointed Gregg Reichman to serve as a director on the Board until the Company’s next meeting of stockholders.”

JONES SODA CO. reported third quarter ended September 30, 2022 results: revenue $4.8 million, net income $1.7 million, or $(0.02) per share, EPS $(0.02) per share.

“labels, announced its financial results for the third quarter ended September 30, 2022. Third Quarter 2022 Financial Highlights vs. Year-Ago Quarter Revenue increased 5% to $4.8 million compared to $4.6 million. Gross profit as a percentage of revenue was 26.9% compared to 32.0%. Net loss was $1.7 million, or $(0.02) per share, compared to a net loss of $59,000,”

Alex Spiro resigned as Director at JONES SODA CO..

“On September 13, 2022, Alex Spiro informed the board of directors of Jones Soda Co. (the “Board”) that he was resigning from the Board effective immediately for personal reasons.”

Jamie Colbourne resigned as Interim Chief Financial Officer at JONES SODA CO..

“Jamie Colbourne who resigned as the Company’s Interim Chief Financial Officer on March 15, 2022”

Joe Culp was appointed as Interim Chief Financial Officer at JONES SODA CO..

“appointed Joe Culp, age 30, as the Company’s Interim Chief Financial Officer”

Chad Bronstein was appointed as Director at JONES SODA CO..

“the Board appointed each of Alex Spiro and Chad Bronstein to serve as directors on the Board”

Alex Spiro was appointed as Director at JONES SODA CO..

“the Board appointed each of Alex Spiro and Chad Bronstein to serve as directors on the Board”

Jeffrey Anderson resigned as Director at JONES SODA CO..

“each of Michael Fleming and Jeffrey Anderson gave notice to the Company’s Board of Directors (the “Board”) that they each intended to resign as directors on the Board, effective immediately.”