Jones Soda Co. (JSDA) (the “Company”), a leader in the premium soda category and known for its unique branding and innovative marketing, today announced that its stock will begin trading on the OTC Markets’ OTCQB marketplace under its ticker symbol “JSDA” commencing today, September 20, 2012. Investors will be able to view the Real Time Level II stock quotes for JSDA at
Michael Fleming, Chairman of the Board, stated, “We carefully evaluated our options to maintain listing on Nasdaq, including whether to effect a reverse split to satisfy the $1 minimum bid price for our common stock. Based on our research of other companies that conducted reverse stock splits to satisfy Nasdaq’s minimum bid price requirements, we felt that the likely outcomes and cost to our shareholders in terms of significant reduction in market valuation were too high to warrant approval.”
Mr. Fleming also added, “We are committed to organic stock price growth based on achieving fundamental improvement in the Company’s results and ultimately, sustainable profitability. The OTC was the home of the Jones listing from 2000 to 2005, which was a period of fundamental growth for the Company. We believe the transition to the OTCQB Market will be relatively seamless and provide existing and new shareholders a marketplace to trade our stock.”
The move to the OTCQB does not change the Company’s reporting obligations with Securities and Exchange Commission (“SEC”) under applicable federal securities laws. Accordingly, the Company will continue to file its Quarterly Reports on Form 10-Q, Annual Report on Form 10-K and its Current Reports on Form 8-K. Additionally, the Company anticipates releasing its results for the quarter ending September 30, 2012 on November 8, 2012 with its regularly scheduled conference call.
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