Jones Soda Shares Comfortable Above $1.50 Level
Jones Soda Co. (NASDAQ:JSDA) has staged a dramatic comeback in the past month, its shares are up 131% and its safe to say they will not be delisted or bought out.
Over the past 12 months Jones Soda Co. (JSDA) shares have traded between 40 Cents and its recent 52-week high of $2.32. Jones Soda Co 's (JSDA) current market cap is $42.3 million and its shares have moved up 75% from its 52-week low.
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Last week Jones Soda struck a deal to sell $10 million in common stock to Glengrove Small Cap Value Ltd. in the next two years. Jones plans tol use money from the securities sale to pay for marketing and to help expand distribution and retail sales. Earlier this month, Jones Soda signed a deal with Wal-Mart Stores Inc. (NYSE:WMT) to have the soda company’s product distributed to the Arkansas retailer’s 3,800 U.S. stores.
In March Jones Soda Co (JSDA) terminated the exclusivity provisions of a potential merger deal with Reed's Inc (REED) to explore an unsolicited bid by a third party. The deal on the table at that time was for Reed's in a cash-and-stock deal pick Jones Soda for about $9.7 million. Its a damn good thing that didn't happen, thanks to Jones shares now trading above the $1.50 range since June 2nd, the company's market cap is now worth $42.81 million.
At the end of March Jones reported a net loss of $4.5 million, or ($0.17) per share, for the quarter ended December 31, 2009, an increase of 33% over the fourth quarter 2008 net loss of $3.4 million, or ($0.13) per share, with the current quarter including $2.0 million in non-cash charges for excess inventory and fixed asset write-downs.
The Company reported a net loss of $10.5 million, or ($0.40) per share, for 2009, an improvement of 31% over the 2008 net loss of $15.2 million, or ($0.58) per share.
Best of luck to Jones Soda Company and its shareholders, may the good news continue to flow in.