Jones Soda Stock to Begin Trading on the OTCQB Market
SEATTLE--(BUSINESS WIRE)-- 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 http://www.otcmarkets.com/stock/JSDA/quote.
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 Nasdaqs 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 Companys 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 Companys 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.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for investors to easily trade almost 10,000 equity and debt securities through the broker of their choice. OTC Markets Group organize these securities into tiered marketplaces to inform investors of opportunities and risks. OTC Markets Group's data-driven platform enables efficient trading through any broker at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors.
About Jones Soda Co.
Headquartered in Seattle, Washington, Jones Soda Co. markets and distributes premium beverages under the Jones Soda and WhoopAss Energy Drink brands and sells through its distribution network in markets primarily across North America. A leader in the premium soda category, Jones is known for its variety of flavors, highest quality ingredients, including pure cane sugar and innovative labeling technique that incorporates always-changing photos sent in from its consumers. Jones Soda is sold through traditional beverage retailers.
ForwardLooking Statements Disclosure
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all passages containing words such as "will," "aims," "anticipates," "becoming," "believes," "continue," "estimates," "expects," "future," "intends," "plans," "predicts," "projects," "targets," or "upcoming". Forward-looking statements also include any other passages that are primarily relevant to expected future events or that can only be evaluated by events that will occur in the future. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Factors that could affect Jones Soda's actual results include, among others: its ability to successfully execute on its 2012 operating plan; its ability to generate sufficient cash flow from operations; its ability to streamline operations, reduce operating expenses, and reduce and slow its use of cash; its ability to successfully integrate management changes and reductions in operating expense and personnel; its ability to manage impacts of its common stock being delisted from The Nasdaq Capital Market and listed on the OTCQB, including any perceived or actual reduced liquidity in trading in its shares; its ability to develop and introduce new products to satisfy customer preferences; its ability to market and distribute brands on a national basis; changes in consumer demand or market acceptance for its products; its use of the net proceeds from any financings to improve its financial condition; its ability to increase demand and points of distribution for its products or to successfully innovate new products and product extensions; its ability to establish, maintain and expand distribution arrangements with distributors, retailers or national retail accounts; its ability to maintain relationships with co-packers; its ability to maintain a consistent and cost-effective supply of raw materials; its ability to maintain brand image and product quality; its ability to attract, retain and motivate key personnel; its ability to protect its intellectual property; the impact of future litigation; and the impact of intense competition from other beverage suppliers. More information about factors that potentially could affect Jones Soda's operations or financial results is included in Jones Soda's most recent annual report on Form 10-K for the year ended December 31, 2011, filed with the Securities and Exchange Commission on March 30, 2012 and in the Companys quarterly reports on Form 10-Q filed with the Securities and Exchange Commission in 2012. Readers are cautioned not to place undue reliance upon these forward-looking statements that speak only as to the date of this release. Except as required by law, Jones Soda undertakes no obligation to update any forward-looking or other statements in this press release, whether as a result of new information, future events or otherwise.
Jones Soda Co.
Carrie Traner, 206-624-3357
Vice President of Finance
Source: Jones Soda Co.Copyright Business Wire 2012