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Jones Soda (OTC:JSDA) Stock, Rapport sur les intérêts à découvert

Jones Soda

Jones Soda Co develops, produces, markets, and distributes premium beverages which the company sells and distributes in the United States and Canada through its network of independent distributors and directly to its national and regional retail accounts. The company's products are sold in grocery stores, convenience and gas stores, restaurants, and sandwich shops among others. Geographically, the firm generates a majority of its revenue from the United States.

Jones Soda Co

Jones Soda (OTC:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#OTC">JSDA</a>) reported quarterly losses of $(0.01) per share. This is unchanged from the same period last year. The company reported $4.61 million in sales this quarter. This is a 7.82 percent decrease over sales of $5.00 million the same period last year.

Earnings

News

JSDA

Jones Soda Q1 EPS $(0.01), Same YoY, Sales $4.61M Down From $5.00M YoY

This week, the <a href="https://www.benzinga.com/topic/cannabis-industry">cannabis industry</a> saw a flurry of activity, from strategic mergers and robust financial reports to product launches and key regulatory developments.
Major players are repositioning themselves through acquisitions and leadership transitions while innovative products and partnerships are driving growth in consumer markets. Meanwhile, legal and policy debates continue to shape the future of cannabis regulation both domestically and abroad.
Here's a comprehensive roundup of the top news shaping the cannabis landscape.
<h2 class="wp-block-heading">Corporate Moves And Financial Results</h2>
Organigram Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OGI#NASDAQ">OGI</a>) made headlines with its acquisition of Collective Project Limited for an upfront C$6.2 million, with additional contingent payments that could bring the total consideration up to C$24 million. The deal marks Organigram's first commercial entry into the fast-growing hemp‑derived THC beverage market in the U.S. and accelerates its move into Canada's emerging cannabis beverage category. CEO Beena Goldenberg explained, "The acquisition of Collective Project marks yet another strategic milestone towards Organigram's global leadership ambitions."
Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) announced an optional early prepayment on its senior secured term loan—settling $100 million at a discounted price of $97.5 million. CFO Judy Hong stated, "Canopy has further improved its balance sheet with this early prepayment by reducing our overall debt position as well as lowering annual interest costs." This transaction ensures that the company has no material debt until September 2027.
Grown Rogue International Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GRUSF#OTC">GRUSF</a>) reported strong fourth‑quarter and full‑year 2024 results with revenue increasing 16% to $27.0 million and adjusted EBITDA rising 27% compared to the previous period. The company, which received licensing approval in New Jersey and expanded its Michigan operations, sees continued growth in competitive markets despite pricing pressures. CEO Obie Strickler emphasized the team's relentless focus on cost controls and yield improvements.
AYR Wellness Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/AYRWF#OTCQX">AYRWF</a>) announced a leadership transition with Steven M. Cohen stepping down as Interim CEO and Scott Davido taking over the role. "We appreciate Steven's willingness to stay on as an advisor as we continue to execute on our strategic initiatives," said Chairman Louis Karger. Cohen added, "I have appreciated the opportunity to lead AYR over the past few months and I do so with the utmost confidence that AYR is in the right hands."
Other significant updates include:
<ul>
<li>MediPharm Labs Corp. (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/MEDIF#OTCQB">MEDIF</a>) posted a robust 2024 with net revenue up 27% to $42 million and gross profit improving to $12.8 million. The company also achieved an 81% improvement in its adjusted EBITDA loss.</li>
<li>IM Cannabis Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMCC#NASDAQ">IMCC</a>) reported a 25% increase in Q4 revenue, a return to profit on adjusted EBITDA and robust performance driven by accelerated growth in its German operations.</li>
<li>Chicago Atlantic BDC, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIEN#NASDAQ">LIEN</a>), formerly Silver Spike Investment Corp., delivered its first earnings report after completing a strategic acquisition of a diversified loan portfolio, with net investment income of $8.0 million and a NAV per share of $13.20.</li>
<li>Innocan Pharma Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/INNPF#OTC">INNPF</a>) revealed that its full‑year 2024 revenues surged by 114.6% to US$29.4 million, while its gross profit increased by 118.6% to US$26.2 million.</li>
<li>Jones Soda Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#NASDAQ">JSDA</a>) reported Q4 revenue falling to $2.8 million and a net loss of $4.6 million, driven by a $1.2 million inventory write‑off and declining sales volumes.</li>
<li>Rubicon Organics Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/ROMJF#OTCQX">ROMJF</a>) celebrated record high net revenue of $48.7 million in 2024, achieving an adjusted EBITDA gain of $4.0 million and securing a $10 million credit facility to support expansion plans.</li>
</ul>
<h2 class="wp-block-heading">Product Launches And Brand Expansions</h2>
Consumer offerings continue to expand in Illinois. Grön (The Mother of All Edibles), founded by Christine Apple, launched its cannabis‑infused edibles—including Sugar‑Coated Pearls, MEGAs and Chocolate Mini Bars—exclusively at Curaleaf dispensaries beginning in April 2025. "We are thrilled to finally bring our products to the millions of cannabis consumers in Illinois," said Apple.
Meanwhile, MariMed Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/MRMD#CSE">MRMD</a>, OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/MRMD#OTCQX">MRMD</a>) introduced its Nature's Heritage line, featuring premium cannabis flower, pre‑rolls and vapes. The launch follows the opening of its Mt. Vernon, Illinois cultivation facility and marks the brand's debut in the state, with products now available in approximately 82% of Illinois dispensaries.
<h2 class="wp-block-heading">Legal, Regulatory And Policy Developments</h2>
Recent legal and regulatory developments continue to drive debate. In regulatory news, the U.S. Supreme Court sided with a trucker who was fired after testing positive for THC—allegedly after consuming a hemp‑derived CBD product. The decision, reported by <a href="https://www.marijuanamoment.net/supreme-court-sides-with-trucker-who-was-fired-over-thc-test-following-use-of-cbd-product/" target="_blank" rel="noopener">Marijuana Moment</a>, allows the trucker to seek triple damages under a federal anti‑racketeering law.
On the policy front, extensive analysis of the federal cannabis rescheduling debate reveals that moving cannabis from Schedule I to Schedule III would offer only modest benefits while leaving longstanding racial disparities and federal–state conflicts unresolved. A <a href="https://www.yalelawjournal.org/forum/decriminalizing-cannabis?utm_source=www.cultivated.news&amp;utm_medium=newsletter&amp;utm_campaign=states-that-will-lead-legal-weed-according-to-an-economist&amp;_bhlid=785740b498442d4fe25a0f0dc08d20cf6613e6d3" target="_blank" rel="noopener">Yale Law Journal forum article</a> argues for decriminalization and deregulation instead of rescheduling.
<h2 class="wp-block-heading">Federal Policy And Administration Developments</h2>
A recent article by <a href="https://www.marijuanamoment.net/marijuana-rescheduling-isnt-on-the-white-houses-new-list-of-top-drug-policy-priorities-under-the-trump-administration/" target="_blank" rel="noopener">Marijuana Moment</a> highlights that cannabis rescheduling is not among the Trump administration's top drug policy priorities. Instead, the administration is focusing on combating drug trafficking and the opioid crisis. While Trump had previously voiced support for cannabis rescheduling and medical cannabis legalization during his 2024 campaign, his current policy priorities emphasize enforcement against substances such as fentanyl, methamphetamines and heroin. This shift underscores the challenges and federal-state conflicts that continue to shape cannabis policy in the U.S.
<h2 class="wp-block-heading">Industry Challenges And Financial Distress</h2>
The sector continues to face significant financial challenges. A recent <a href="https://www.benzinga.com/markets/cannabis/25/03/44572746/cannabis-defaults-are-piling-up-3-companies-just-missed-payments-whos-at-risk-next" target="_blank" rel="noopener">Benzinga article</a> details defaults on key real estate leases by Gold Flora Corp., 4Front Ventures Corp. and TILT Holdings Inc. These defaults—driven by escalating liabilities-to-market cap ratios and high operating costs—signal a broader liquidity crisis that could threaten other operators such as Cannabist Holdings, Ascend Wellness Holdings and AYR Wellness.
<h2 class="wp-block-heading">The Bob Fireman Award</h2>
Nominations for the 2025 Bob Fireman Award for Entrepreneurship are now open. The award honors cannabis leaders who embody the legacy of Robert &#8220;Bob&#8221; Fireman—co-founder and former CEO of MariMed Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/MRMD#OTCQX">MRMD</a>). With a submission deadline of May 1, 2025 and the winner to be announced live at the Benzinga Cannabis Capital Conference in Chicago from June 8–10, 2025, this accolade recognizes leaders committed to integrity, leadership and community impact. For more details, visit <a href="https://www.benzinga.com/markets/cannabis/25/04/44594542/know-a-cannabis-leader-who-stands-out-nominations-now-open-for-bob-fireman-award-by-benzinga" target="_blank" rel="noopener">this link</a>.
<h2 class="wp-block-heading">Interviews And Profiles</h2>
This week's exclusive interviews include:
<ul>
<li>"When Viral Icon Doug The Pug Got Sick, His Family Created A Cannabis Brand: ‘CBD Offers Real Benefits For Pets'" – an in‑depth look at Nonipup's innovative approach to pet wellness. <a href="https://www.benzinga.com/markets/cannabis/25/04/39798184/when-viral-icon-doug-the-pug-got-sick-his-family-created-a-cannabis-brand-cbd-offers-real-benefi" target="_blank" rel="noopener">Read the interview</a></li>
<li>"We've Accepted Mommy-Wine Culture; Why Not Cannabis?—Meet The Woman Behind The Largest Weed PR Firm In North America" – a profile of Rosie Mattio and her trailblazing work in cannabis public relations. <a href="https://www.benzinga.com/markets/cannabis/25/04/42205176/weve-accepted-mommy-wine-culture-why-not-cannabis-meet-the-woman-behind-the-largest-weed-pr-firm" target="_blank" rel="noopener">Read the profile</a></li>
<li>"Gary Payton Wants You To Rethink Cannabis: &#8216;It&#8217;s About Mental Health… It Brought My Mom Back In Her Final Days&#8217;" – an interview capturing Gary Payton's personal journey and his venture into cannabis wellness. <a href="https://www.benzinga.com/markets/cannabis/25/04/42205205/gary-payton-wants-you-to-rethink-cannabis-its-about-mental-health-it-brought-my-mom-back-in-her-" target="_blank" rel="noopener">Read the interview</a></li>
</ul>
<h2 class="wp-block-heading">Partnerships, Fintech And Banking Solutions</h2>
In fintech, Spendr, a Cincinnati‑based cannabis payments startup, raised over $2.7 million in fresh capital as it prepares to expand ahead of a planned Series A later this year. Founder Lucas Gould noted that the funds came largely from existing individual investors, setting the stage for significant growth in 2025.
In banking news, Safe Harbor Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHFS#NASDAQ">SHFS</a>) is expanding its partnership with Würk—the leading Human Capital Management firm in the cannabis space. Through a mutual referral program, the two companies aim to bridge the gap between workforce management and financial services, addressing the industry's persistent challenge of accessing compliant banking solutions.
<h2 class="wp-block-heading">International Developments</h2>
Overseas, France has finally unveiled its full medical cannabis blueprint after a four‑year campaign. The new framework, which includes provisions for single‑use cannabis flower dosages to be consumed via CE‑certified dry herb vaporisation devices, represents a significant step forward for one of Europe's largest medical cannabis markets.
CEO Benjamin Alexandre‑Jeanroy of Augur Associates explained, "We're just waiting for what I call ‘bureaucratic suspense' to finalise and then the government will sign the decrees once they've been signed off by the EU." The framework also extends patient access until at least March 31, 2026.
<h2 class="wp-block-heading">Cannabis Accessories And Infused Products</h2>
In product innovation, Weedgets announced that its award‑winning Maze‑X and X5 One‑Hitter pipes are now available across Canada. CEO Michael Barenboym stated, "We&#8217;re thrilled to bring the Maze‑X and X5 pipes to Canada. Canada's market is the perfect fit for our award‑winning hardware."
In Michigan, Gelato Canna Co. launched its elevated cannabis‑infused confections—Dubai Bites and High From Dubai Chocolate Bar—which offer a unique twist on traditional treats. Both products retail for approximately $25 and are timed perfectly for 4/20 and Easter.
Finally, Wynk expanded its beverage portfolio with the launch of new 10mg THC Lemonade Seltzers, available in Lemonade, Strawberry Lemonade and Raspberry Lemonade. CEO Angus Rittenburg explained, "We created our 10mg Lemonade Seltzers to meet the growing demand for higher‑dose options—without losing what makes Wynk special." The seltzers are now available online in 37 states and at retail locations across 18 states.
<h2 class="wp-block-heading">UFA Partnership With Trulieve</h2>
In sports and wellness news, the Ultimate Frisbee Association (UFA) has named Trulieve an official partner for 2025. This marks one of the first partnerships between a professional team sports league in North America and a multi‑state cannabis operator. League CEO and Commissioner Tim DeByl stated, "The world of health and wellness for athletes has evolved and Trulieve has become a leader in enhancing lives through cannabis." The partnership will see Trulieve's brand featured throughout the UFA season, including digital content and in‑venue education.
<h2 class="wp-block-heading">See You Next Week</h2>
From strategic acquisitions and robust financial results to innovative product launches and pivotal regulatory shifts, this week has encapsulated the dynamism and complexity of the cannabis industry. With major players repositioning themselves and new consumer products making their debut, the sector continues to evolve at a rapid pace.
As legal and policy debates persist alongside expanding market opportunities both domestically and internationally, the industry remains poised for further transformation. We'll continue to monitor these dynamic trends and keep you updated.
Want more in-depth analysis and up-to-the-minute updates on the cannabis industry? Subscribe to our newsletter for real‑time insights and more in‑depth analysis.
See you next week!

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This Week In Cannabis: Trump Policy Updates, Corporate Moves, Regulatory Shifts And Product Innovations

Jones Soda Co.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#OTC">JSDA</a>) on Tuesday reported <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/n44582326/jones-soda-reports-fourth-quarter-and-full-year-2024-results" rel="noreferrer noopener">fourth-quarter 2024 earnings</a>.
Revenue in the quarter was&nbsp;$2.8 million,&nbsp;compared with&nbsp;$3.5 million&nbsp;a year earlier, primarily attributable to reduced sales volumes driven by a transition to a new distributor in&nbsp;Canada&nbsp;and the loss of a discount retail customer in the U.S. during <a href="https://www.benzinga.com/cannabis" target="_blank" rel="noreferrer noopener">the previous quarter</a>.
The company&#8217;s beverages segment, which includes craft soda, HD9, Pop Jones, and Fiesta Jones brands, generated approximately&nbsp;$2.6 million&nbsp;in revenue, down from approximately&nbsp;$3.1 million&nbsp;a year ago.
The company&#8217;s Cannabis (THC) segment, which includes Mary Jones branded cannabis products, generated approximately&nbsp;$0.2 million&nbsp;compared to approximately&nbsp;$0.4 million&nbsp;a year ago.
Gross loss for the fourth quarter of 2024 was&nbsp;$(1.3) million compared to&nbsp;a profit of $0.7 million&nbsp;in the year-ago period. This decline was primarily driven by a one-time&nbsp;$1.2 million&nbsp;inventory write-off and a revenue decrease.&nbsp;
During the quarter, the company wrote off inventory after stopping selling some new products, including Jones Plus and Low mg HD9, due to poor market performance.
The net loss for the fourth quarter was&nbsp;$4.6 million, or&nbsp;4 cents&nbsp;per share, compared with a net loss of&nbsp;$1.5 million, or&nbsp;2 cents&nbsp;per share, a year earlier.

As of Dec. 31, cash and cash equivalents totaled $1.5 million. In February, the company entered into a new $5 million revolving credit facility with <a href="https://www.benzinga.com/pressreleases/25/02/n43524711/jones-soda-secures-new-usd-5-million-credit-facility-to-fuel-sales-growth-in-2025" target="_blank" rel="noreferrer noopener">Two Shore Capital</a>.
Last month, Jones Soda expanded its distribution network, including securing two new Direct Store Delivery partners servicing major retailers <a href="https://www.benzinga.com/pressreleases/25/03/n44394720/jones-soda-grows-market-footprint-with-expanded-distribution-network" target="_blank" rel="noreferrer noopener">in Q1 2025 alone</a>.
Shares of Jones Soda were down 2.94% to 20.32 cents at last check on Tuesday. 
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<li><a href="https://www.benzinga.com/25/04/44583601/chevron-sells-70-stake-in-east-texas-gas-assets-for-525m" target="_blank" rel="noreferrer noopener">Chevron Divests 70% Stake In East Texas Gas Assets: Details</a></li>
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Photo: Shutterstock/Colleen Michaels

General

Jones Soda Reports Wider Quarterly Loss Driven By Lower Sales Volume, Inventory Write-Off

Markets

Jones Soda generated $0.2M in revenue from the Cannabis segment compared to approximately $0.4M in the fourth quarter of 2023

Jones Soda (OTC:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#OTC">JSDA</a>) reported quarterly losses of $(0.04) per share. This is a 100 percent decrease over losses of $(0.02) per share from the same period last year. The company reported $2.79 million in sales this quarter. This is a 20.25 percent decrease over sales of $3.50 million the same period last year.

Jones Soda Q4 2024 GAAP EPS $(0.04) Down From $(0.02) YoY, Sales $2.79M Down From $3.50M YoY

Jones Soda Co. (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#OTCQB">JSDA</a>) announced its financial results Wednesday for the third quarter ended Sept. 30, 2024. disclosing revenue of $4.2 million, compared to $4.5 million in the same period of 2023. The Seattle-headquartered THC-infused soda maker noted that the third-quarter revenue includes approximately $800,000 in revenue from its Mary Jones business compared to approximately $220,000 in the third quarter of 2023.
The company attributes the decline in revenue to a reduced sales volumes as a result of a Canadian distributor&#8217;s transition and loss of a discount retail customer in the U.S. Additionally, the ramp up of HD9 distributors has taken longer than expected.
"Our third quarter did not meet our internal expectations, and we have taken immediate action to correct our trajectory," stated Paul Norman, chairman of the noard and interim chief executive and financial officer of Jones. "The third quarter results were negatively impacted by a Canadian distributor transition, the loss of a discount retail customer in the U.S., and a slower than expected ramp up with our HD9 distribution network. In addition, we incurred more operating expenses than we had initially budgeted. We have taken corrective actions to improve and align our cost structure, adjust our Canadian distribution model and have added more HD9 distributors in the fourth quarter."
Read Also: <a href="https://www.benzinga.com/news/earnings/24/11/41944281/blum-holdings-q3-revenue-grows-182-yoy-subsidiary-unrivaled-brands-files-for-bankruptcy">Blüm Holdings Q3 Revenue Grows 182% YoY, Subsidiary Unrivaled Brands Files For Bankruptcy</a>
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h2 class="wp-block-heading">Q3 Financial Highlights</h2>
<ul>
<li>Gross margin was 21.2% compared to 32.9% in the prior year quarter. This decrease was primarily driven by a one-time trade spend adjustment associated with a distributor transition in Canada as well as an unfavorable product mix.</li>
<li>Net loss was $2.6 million, or $(0.02) per share, compared to a net loss of $900,000 or $(0.01) per share. The increase in net loss was primarily attributable to a decline in gross profit combined with an increase in total operating expenses to support the company's growth plans.</li>
<li>Adjusted EBITDA was a loss of $2.2 million compared to a loss of $900,000.</li>
<li>Total operating expenses were $3.5 million compared to $2.4 million in the year-ago period. The increase was primarily a result of increased spending on product innovation and the associated marketing initiatives to support the company's product expansion. Additionally, the company did incur a higher amount of legal expenditures related to its Mary Jones business than it did one year ago.</li>
<li>At Sept. 30, 2024, cash and cash equivalents totaled $2.7 million compared to $1.5 million at June 30, 2024, and $3.9 million at Dec. 31, 2023. The increase in cash and cash equivalents compared to the second quarter of 2024 was primarily a result of the company successfully raising $3.7 million in net proceeds through a private placement in August 2024.</li>
</ul>
Additionally, Jones Soda announced that on Nov. 12, 2024 the board of directors appointed Paul Norman as the company's interim chief financial officer, replacing Ronald Dissinger, who had served as interim chief financial officer since the resignation of Joe Culp on Nov. 4, 2024.
Price Action
Jones Soda shares closed Wednesday's market session 2.44% lower at 20 cents a share.
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/24/11/41943973/atai-q3-report-strong-cash-position-clinical-pipeline-growth">Atai Q3 Report: Strong Cash Position, Clinical Pipeline Growth</a></li>
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Photo: Benzinga edit of images by Matthew Brodeur on Unsplash and Jones Soda

Jones Soda Reports Q3 Revenue Drop, Mary Jones THC Brand Sees 264% Growth

Jones Soda (OTC:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#OTC">JSDA</a>) reported quarterly losses of $(0.02) per share. This is a 100 percent decrease over losses of $(0.01) per share from the same period last year. The company reported $4.21 million in sales this quarter. This is a 6.36 percent decrease over sales of $4.50 million the same period last year.

Jones Soda Q3 EPS $(0.02) Down From $(0.01) YoY, Sales $4.21M Down From $4.50M YoY

Jones Soda Co. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#CSE">JSDA</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#OTCQB">JSDA</a>) released its financial results Tuesday for the second quarter ended June 30, 2024, revealing revenue of $7.2 million, up by 49% year-over-year. The company reported growth across all its lines of business.
The Seattle-headquartered THC-infused soda maker also disclosed a higher net loss of $1.6 million or $0.02 loss per share, compared to a net loss of $1.0 million or $0.01 per share in the second quarter of 2023. Jones Soda attributes the increase in net loss to the rise in total operating expenses to support the company's growth plans.
"As we continue our transition to a high-growth beverage company, I believe our momentum is building," stated David Knight, president and CEO of Jones Soda. "I'm pleased to report another consecutive quarter of exceptional revenue growth of 49% compared to the same quarter last year and healthy gross margin expansion of 340 basis points. We have been investing heavily in research and development, retail engagement, and marketing efforts to continue supporting our product expansion initiatives. As a high-growth beverage company, we believe it remains vital for our Company to stay on top of emerging consumer trends and react accordingly. While this increased costs for the quarter, we are investing in initiatives that we believe will result in future revenue growth and remain committed to delivering profitable results over the long term."
The earnings report follows up on the e<a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/08/40346905/thc-infused-soda-maker-ramps-up-market-presence-with-debut-in-mi-boosts-ca-product-offering" rel="noreferrer noopener">xpansion of the company's crossover </a><a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/08/40346905/thc-infused-soda-maker-ramps-up-market-presence-with-debut-in-mi-boosts-ca-product-offering" rel="noreferrer noopener">Mary Jones cannabis brand with</a> the debut of its products in Michigan and the introduction of a new line of cannabis-infused shooters in California.
Read Also: <a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/08/40108304/weed-drinks-maker-jones-soda-closes-second-tranche-of-private-placement-offering-one-more-to-go-" rel="noreferrer noopener">Weed Drinks Maker Jones Soda Closes Second Tranche Of Private Placement Offering, One More To Go Ahead Of Q2 Earnings Report</a>
<h2 class="wp-block-heading">Q2 Financial Summary</h2>
<ul>
<li>Gross profit as a percentage of revenue increased 340 basis points to 35.8% compared to 32.4%.</li>
<li>The second quarter of 2024 included approximately $1.2 million in revenue from the company's Mary Jones business compared to approximately $400,000 in the second quarter of 2023.</li>
<li>Adjusted EBITDA was a loss of ($1.1 million), compared to ($700,000).</li>
<li>Total operating expenses in the second quarter of 2024 were $4.2 million, or 58.2% of revenue, compared to $2.6 million, or 53.8% of revenue, in the year-ago period. Higher expenses resulted from increased investments focused on product innovation, brand refreshes, and expanded marketing efforts, including initiatives with action sports such as our partnership with Thrill One, to support the company's product expansion. Additionally, Jones Soda did incur a higher amount of legal expenditures related to its Mary Jones business than it did one year ago.</li>
<li>At June 30, 2024, cash and cash equivalents totaled $1.5 million compared to $3.9 million on December 31, 2023.</li>
</ul>
Subsequent to June 30, 2024, the company closed a private placement offering of securities and received net proceeds of approximately $3.2 million to further support its growth initiatives and strengthen the balance sheet.
<h2 class="wp-block-heading">2024 Activity Update</h2>
<ul>
<li>First national craft soda brand to launch 7.5-ounce cans with Jones Minis, initially featured in 700 Walmart stores across the U.S.</li>
<li>Launched special release Spiked Jones variety packs celebrating the Fourth of July with co-branded red, white and blue packs.</li>
<li>Launched Jones+, the company's craft soda with caffeine, in camo cans through a partnership with Fold of Honor.</li>
</ul>
"I am incredibly excited about the anticipated growth opportunities we have in store for the remainder of 2024 and beyond. Within our Jones Soda Beverage Products division, we've made progress diversifying our offerings through new formats, new branding, and new categories,&#8221; Knight continued. &#8220;All this combined has already driven strong results, and we believe we are only just getting started. In fact, over the next few months, we are expected to launch Pop Jones, a soda alternative focused on gut health, and Fiesta Jones, a lower-calorie, Latin-inspired soda alternative. We've also seen strong growth within our Mary Jones Products division as we continue launching into new categories and make progress towards our planned geographic expansion."
<h2 class="wp-block-heading">Price Action</h2>
Jones Soda shares closed Tuesday's market session 8.24% higher at $0.46 per share.
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<li><a href="https://www.benzinga.com/markets/cannabis/24/08/40344002/hemp-focused-cv-sciences-reports-flat-revenue-and-over-8-yoy-increase-in-gross-profit-in-q2" target="_blank" rel="noreferrer noopener">Hemp-Focused CV Sciences Reports Flat Revenue And Over 8% YoY Increase In Gross Profit In Q2</a></li>
</ul>
Photo: Benzinga edit of images by Matthew Brodeur on Unsplash and Jones Soda
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/01101836/CCC-Oct-24-Banner-1.gif" alt="CCC banner https://www.benzinga.com/events/cannabis-conference/" class="wp-image-470628" /></a></figure>

CSE:JSDA

Jones Soda Revenue Grows 49% YoY Boosted By THC-Infused Beverages Sales, Net Loss Higher As It Supports Growth Plans

Jones Soda (OTC:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#OTC">JSDA</a>) reported quarterly losses of $(0.02) per share. This is a 100 percent decrease over losses of $(0.01) per share from the same period last year. The company reported $7.16 million in sales this quarter. This is a 48.92 percent increase over sales of $4.81 million the same period last year.

Jones Soda Q2 GAAP EPS $(0.02) Down From $(0.01) YoY, Sales $7.16M Up From $4.81M YoY

Jones Soda Co. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#CSE">JSDA</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#OTCQB">JSDA</a>) announced two key expansions of its crossover Mary Jones cannabis brand on Tuesday with the debut of its products in Michigan and introduction of a new line of cannabis-infused shooters in California.
<h3 class="wp-block-heading">What Happened</h3>
Mary Jones is entering the Michigan market through a manufacturing and distribution partnership with Emerald Canning Partners (ECP). The full product portfolio &#8211; Mary Jones THC-infused mixing syrups – will be available statewide. Each 4 fl oz glass bottle contains 200mg of THC for multiple servings that can be sipped, added to cocktails and desserts, poured over waffles for 420-adult brunches and more.
ECP also will manufacture and distribute Mary Jones cannabis sodas, including 20mg THC bottled sodas designed for single servings and 100mg THC canned sodas. It will also manufacture and distribute Mary Jones cannabis sodas, including 20mg THC sodas designed for single servings and 100mg THC canned sodas intended for sharing or consumers who prefer a higher dose.
In California, where it debuted in 2022, Mary Jones is adding new portable, shareable Mary Jones 100mg Cannabis-Infused Shooters to its existing lineup of beverages, syrups and tablets.
Each 2 oz Mary Jones Shooter bottle contains 10 servings infused with 10mg of THC for sipping, splitting with friends, or mixing into other drinks like seltzer water or mocktails.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/13112734/CCC-Oct-24-Banner-1-41.gif" alt="" class="wp-image-492655" /></a></figure>
<h3 class="wp-block-heading">Why It Matters</h3>
Recently published data from <a href="https://www.benzinga.com/markets/cannabis/24/03/37521749/unpacking-the-58b-cannabis-market-boom-bdsa-forecasts-for-2028">cannabis analytics</a> firm BDSA revealed Michigan has emerged as the top seller of legal cannabis in the U.S.,<a href="https://www.benzinga.com/markets/cannabis/24/06/39207863/michigan-beats-california-in-legal-cannabis-sales-why-is-golden-states-weed-industry-losing-its-"> surpassing the Golden State in unit sales.</a>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39820832/michigan-top-seller-of-legal-cannabis-in-us-reports-flat-sales-in-june-colorados-marijuana-downt">Michigan, Top Seller Of Legal Cannabis In US Reports Flat Sales In June, Colorado&#8217;s Marijuana Downturn Continues</a>
The Seattle-based Jones Soda noted that both initiatives build on the strong performance of its THC- and HD9-infused products, including sodas, syrups, tabs and gummies that feature popular Jones craft soda flavors adapted for the exploding cannabis edibles market.
&#8220;Mary Jones ranks as one of our top growth drivers, so continuing to increase our footprint and penetration in the cannabis space is as important to maintaining and accelerating our current strong growth rate as the new products, channels and partnerships we&#8217;re implementing in our mainline soda business,&#8221; said David Knight, CEO of Jones Soda.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/23/10/35189904/celebrate-stoner-october-with-mary-jones-sodas-epic-california-tour">Celebrate &#8216;Stoner October&#8217; With Mary Jones Soda&#8217;s Epic California Tour</a></li>
</ul>

Retail Sales

THC-Infused Soda Maker Ramps Up Market Presence With Debut In MI, Boosts CA Product Offering

Jones Soda Co. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#CSE">JSDA</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#OTCQB">JSDA</a>) has closed the second tranche of its previously announced private placement offering of its units for aggregate gross proceeds of $640,000.
<h3 class="wp-block-heading">What Happened</h3>
The offering is composed of one common share in the company's capital and one‐half of one detachable share purchase warrant.
The Seattle-based company closed the first tranche of a previously announced private placement offering of its units for aggregate gross proceeds of $3,013,960 on Monday.
The weed-infused drinks innovator first announced a private placement of up to 7.5 million units for 40 cents per unit, for total gross proceeds of $3 million earlier in July, only to increase the size of its private placement shortly after. According to a July 11 press release, Jones Soda said it will issue up to 10 million units of the company for $0.40&nbsp;per unit, for&nbsp;aggregate&nbsp;gross proceeds&nbsp;of $4 million.
Following the upsizing of the offering, Jones Soda announced that it intends to issue up to a maximum of 12. 5 million of its units for $0.40&nbsp;per unit, for&nbsp;aggregate gross&nbsp;proceeds&nbsp;of up to $5 million, according to a subsequent press release.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/05/38720056/cannabis-infused-innovator-jones-soda-co-partners-with-street-league-skateboarding-in-multi-year">Cannabis-Infused Innovator Jones Soda Co. Partners With Street League Skateboarding In Multi-Year Deal</a>
<h3 class="wp-block-heading">Why It Matters</h3>
Jones Soda plans to use the funds to support growth and for general corporate purposes.
<h3 class="wp-block-heading">What's Next</h3>
The Company expects to close a third tranche of the offering on or about August 8, 2024.
In addition, the company is slated to hold a conference call on Tuesday, August 13, 2024, at 4:30 pm Eastern Time to discuss its financial results for the <a href="https://www.benzinga.com/markets/cannabis/24/07/40075688/cannabis-companies-about-to-release-earnings-reports-get-your-news-here-glass-house-schwazze-and">second quarter that ended June 30, 2024.</a>
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/05/38839707/jones-sodas-marijuana-drinks-bring-in-200-higher-q1-revenue-co-eyes-expansion-and-praises-new-he">Jones Soda&#8217;s Marijuana Drinks Bring In 200% Higher Q1 Revenue, Co. Eyes Expansion And Praises New Hemp Delta-9 Products</a></li>
</ul>
<h3 class="wp-block-heading">JSDA Price Action</h3>
Jones Soda's shares traded 6.25% lower at 45 cents per share after the market close on Wednesday afternoon.
To keep on top of what's happening with cannabis stocks and everything else going on across the industry, join us at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9.&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices go up by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.

Financing

Weed Drinks Maker Jones Soda Closes Second Tranche Of Private Placement Offering, One More To Go Ahead Of Q2 Earnings Report

With the main financial reporting season taking place in August, let's scroll through the latest updates on the cannabis earnings calendar.
To learn more about cannabis stocks, come, join us at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
<h3 class="wp-block-heading">Glass House</h3>
Glass House Brands Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GLASF#OTCQX">GLASF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GHBWF#OTC">GHBWF</a>), which just issued an open letter to President Biden, former President Trump and Vice President Harris urging them to completely de-schedule cannabis and grant clemency to those incarcerated for nonviolent marijuana offenses, will report financial results on Tuesday, August 13, 2024, after market close.
The California-based company said it will host a conference call to discuss the results at 5:00 pm Eastern Time. 
Led by CEO Kyle Kazan, Glass House Brands reported recently that a California court dismissed a lawsuit accusing the cannabis giant of involvement in the illegal cannabis market. The Superior Court of California in Los Angeles County ruled in favor of the company, dismissing the case with prejudice and awarding costs <a href="https://www.benzinga.com/markets/cannabis/24/07/39888993/legal-win-for-glass-house-la-court-dismisses-lawsuit-alleging-illegal-cannabis-dealings">against the plaintiff, Catalyst Cannabis Co.</a>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/04/38276138/exclusive-ceo-of-this-california-company-has-advice-on-how-to-beat-the-illicit-cannabis-market-s">EXCLUSIVE: CEO Of This California Company Has Advice On How To Beat The Illicit Cannabis Market, Shares His Formula At Benzinga Conference</a>
<h3 class="wp-block-heading">Schwazze</h3>
Medicine Man Technologies, Inc., operating as Schwazze, (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SHWZ#OTC">SHWZ</a>) (Cboe CA: SHWZ) will host a conference call on Tuesday, August 13, 2024, at 5:00 pm Eastern time to discuss its financial and operational results for the second quarter ended June 30, 2024.
The company's first-quarter results announced in May showed a total revenue increase of 4% year-over-year to $41.6 million, while net loss widened to $16.1 million for the quarter, compared to net income of $1.7 million in the first quarter of 2023. Schwazze has focused on enhancing its retail and wholesale strategies, including pricing, promotions&nbsp;and improving the in-store experience, during the period.
In early July, the company announced its common stock will soon transition to the OTC Expert Market, under the ticker symbol &#8220;SHWZ.&#8221; The Denver-based company said this is due to its delayed filing of its Form 10-Q for the period ended March 31, 2024, <a href="https://www.benzinga.com/markets/cannabis/24/07/39596200/schwazze-cannabis-co-transitions-to-otc-expert-market-due-to-delayed-filing">with the Securities and Exchange Commission (SEC).</a>
The company recently finalized an agreement with two of its lenders to restructure its $15 million Altmore, LLC loan agreement and its $17 million Reynold Greenleaf &amp; Associates LLC promissory note. Schwazze officials said the debt restructuring improves its financial position by extending the maturities of both debt instruments to the end of 2025 and materially reducing amortization <a href="https://www.benzinga.com/markets/cannabis/24/07/39752348/schwazze-restructures-its-32m-debt-obligations-improving-financials-to-grow-across-colorado-and-">payments for the Altmore loan agreement.</a>
<h3 class="wp-block-heading">Jones Soda</h3>
Jones Soda Co. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#CSE">JSDA</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#OTCQB">JSDA</a>) a cannabis-infused beverage maker, will hold a conference call on Tuesday, August 13, 2024, at 4:30 pm Eastern Time to discuss its financial results for the second quarter that ended June 30, 2024.
The company's first-quarter financial report from May revealed revenue improvement of 39% year-over-year reaching $5 million, from $3.9 million. The quarterly results include roughly&nbsp;$600,000 in revenue from the cannabis business – Mary Jones, compared to approximately $200,000 in the first quarter of 2023.
On Monday, Jones Soda closed the first tranche of a previously announced private placement offering of its units for aggregate gross proceeds of $3,013,960. The weed-infused drinks innovator first announced a private placement of up to 7.5 million units for 40 cents per unit, for a total gross proceeds of $3 million earlier in July, only to increase the size of its private placement shortly after. According to a July 11 press release, Jones Soda said it will issue up to 10 million units of the company for $0.40 per unit, <a href="https://www.benzinga.com/markets/cannabis/24/07/40017205/weed-drinks-maker-jones-soda-closes-first-tranche-of-private-placement-offering-heres-where-the-">for aggregate gross proceeds of $4 million.</a>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/05/38720056/cannabis-infused-innovator-jones-soda-co-partners-with-street-league-skateboarding-in-multi-year">Cannabis-Infused Innovator Jones Soda Co. Partners With Street League Skateboarding In Multi-Year Deal</a>
<h3 class="wp-block-heading">SHF Holdings</h3>
SHF Holdings, Inc., which is doing business as Safe Harbor Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHFS#NASDAQ">SHFS</a>) will report financial results for the second quarter of 2024 ending June 30, 2024, on Wednesday, August 14, 2024, after the close of the market. CEO Sundie Seefried and CFO Jim Dennedy, will host a conference call and webcast at 4:30 pm Eastern Time the same day to discuss the Company&#8217;s financial results and provide investors with key business highlights.
In May, SHF Holdings reported a 245% year-over-year increase in net income to approximately $2.0 million for the <a href="https://www.benzinga.com/markets/cannabis/24/05/38804847/safe-harbor-financials-245-yoy-q1-net-income-boost-anticipates-capital-increase-with-possible-re">first quarter of 2024.</a> With the potential <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38657697/post-cannabis-rescheduling-whats-next-for-marijuana-giants-potential-1-1b-cash-flow">reclassification of cannabis</a> from a Schedule I to a Schedule III substance, Safe Harbor anticipates an increase in capital flowing into financial institutions.
The company has recently successfully exited a <a href="https://www.benzinga.com/markets/cannabis/24/07/39681090/marijuana-banking-innovator-exits-3-1m-loan-collects-over-200k-in-accrued-interest">$3.1 million loan that was previously in default.</a>
Last week, the company partnered with BIPOCann, a Denver-based consulting firm dedicated to aiding social equity and minority entrepreneurs in the cannabis sector. Under this partnership, BIPOCann will offer its full membership benefits, valued at $600, to all of Safe Harbor's <a href="https://www.benzinga.com/markets/cannabis/24/07/39952107/minority-cannabis-entrepreneurs-gain-new-financial-backing-thanks-to-this-partnership">existing social equity clients at no additional cost.</a>
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GHBWF

GLASF

SHWZ

Cannabis Companies About To Release Earnings Reports, Get Your News Here: Glass House, Schwazze And More

Jones Soda Co. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#CSE">JSDA</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#OTCQB">JSDA</a>) announced on Monday that it has closed the first tranche of a previously announced private placement offering of its units for aggregate gross proceeds of $3,013,960.
<h3 class="wp-block-heading">What Happened</h3>
The offering is composed of one common share in the capital of the company and one‐half of one detachable share purchase warrant.
The weed-infused drinks innovator first announced a private placement of up to 7.5 million units for 40 cents per unit, for a total gross proceeds of $3 million earlier in July, only to increase the size of its private placement shortly after. According to a July 11 press release, Jones Soda said it will issue up to 10 million units of the company for $0.40 per unit, for aggregate gross proceeds of $4 million.
Following the upsizing of the offering, Jones Soda announced that it intends to issue up to a maximum of 12. 5 million of its units for $0.40 per unit, for aggregate gross proceeds of up to $5 million, according to a <a href="https://www.benzinga.com/markets/cannabis/24/07/39840085/weed-infused-innovator-jones-soda-upsizes-its-private-placement-to-5m">subsequent press release.</a>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/05/38720056/cannabis-infused-innovator-jones-soda-co-partners-with-street-league-skateboarding-in-multi-year">Cannabis-Infused Innovator Jones Soda Co. Partners With Street League Skateboarding In Multi-Year Deal</a>
<h3 class="wp-block-heading">Why It Matters</h3>
The Seattle-based company said it intends to use the net proceeds of the offering to support growth and for general corporate purposes.
<h3 class="wp-block-heading">What's Next</h3>
The company said it expects to close a second tranche of the offering on or about July 31, 2024.
<h3 class="wp-block-heading">JSDA Price Action</h3>
Jones Soda shares closed Friday's market session trading 0.41% lower at $0.489 per share.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/05/38839707/jones-sodas-marijuana-drinks-bring-in-200-higher-q1-revenue-co-eyes-expansion-and-praises-new-he">Jones Soda's Marijuana Drinks Bring In 200% Higher Q1 Revenue, Co. Eyes Expansion And Praises New Hemp Delta-9 Products</a></li>
</ul>
To keep on top of what&#8217;s happening with cannabis stocks and everything else going on across the industry, join us at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices go up by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.

Weed Drinks Maker Jones Soda Closes First Tranche Of Private Placement Offering, Here's Where The Money Would Go

Jones Soda Co. (CSE:&nbsp;JSDA) (QTCQB: JSDA) announced on Thursday&nbsp;that it has upsized its private placement of units.
The Seattle-based company <a href="https://www.benzinga.com/markets/cannabis/24/07/39728726/weed-infused-innovator-jones-soda-launches-3m-offering">first announced</a> a private placement of up to 7,500,000 units for 40 cents per unit, for a total gross proceeds of $3 million last week, only to increase the size of its private placement shortly after. According to a July 11 press release, Jones Soda said it will issue up to 10,000,000 units of the company for $0.40&nbsp;per unit, for&nbsp;aggregate&nbsp;gross proceeds&nbsp;of $4 million.
The company now intends to issue up to a maximum of 12,500,000 of its units for $0.40&nbsp;per unit, for&nbsp;aggregate gross&nbsp;proceeds&nbsp;of up to $5 million, according to Thursday's press release.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/05/38720056/cannabis-infused-innovator-jones-soda-co-partners-with-street-league-skateboarding-in-multi-year">Cannabis-Infused Innovator Jones Soda Co. Partners With Street League Skateboarding In Multi-Year Deal</a>
<h3 class="wp-block-heading">Details</h3>
Each&nbsp;unit&nbsp;will comprise one&nbsp;common share&nbsp;in&nbsp;the&nbsp;capital&nbsp;of&nbsp;the&nbsp;company and one‐half of one detachable share purchase warrant. Each whole warrant will be exercisable into one common share at $0.50 per share for 24 months from the date of issuance.
Additionally, each whole warrant may be exercised anytime during the warrant exercise period upon the voluntary election to exercise by the warrant holder, the company said.
<h3 class="wp-block-heading">Why It Matters</h3>
Jones Soda said it intends to use the net proceeds of the offering to support growth and for general corporate purposes.
<h3 class="wp-block-heading">What's Next</h3>
The company expects to close the offering on or about July 23, 2024. It is subject to certain conditions&nbsp;including,&nbsp;but&nbsp;not&nbsp;limited to,&nbsp;the&nbsp;receipt&nbsp;of&nbsp;all&nbsp;necessary&nbsp;regulatory&nbsp;approvals&nbsp;including the approval of the CSE.
<h3 class="wp-block-heading">JSDA Price Action</h3>
Jones Soda shares closed Wednesday&#8217;s market session 4.14% higher at 44 cents per share.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/05/38839707/jones-sodas-marijuana-drinks-bring-in-200-higher-q1-revenue-co-eyes-expansion-and-praises-new-he">Jones Soda&#8217;s Marijuana Drinks Bring In 200% Higher Q1 Revenue, Co. Eyes Expansion And Praises New Hemp Delta-9 Products</a></li>
</ul>
To keep on top of what is happening with cannabis stocks and everything across the industry, join us at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9.&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices go up by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.

Weed-Infused Innovator Jones Soda Upsizes Its Private Placement To $5M

<a href="https://www.benzinga.com/markets/cannabis/24/05/38720056/cannabis-infused-innovator-jones-soda-co-partners-with-street-league-skateboarding-in-multi-year">Jones Soda Co. </a>(OTC:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#OTC">JSDA</a>) announced Wednesday a private placement of up to 7,500,000 units of the company at a price of 40 cents per unit, for a total gross proceeds of $3 million.
The offering comes two months after the company behind Mary Jones marijuana drinks reported its financial results for the first quarter ending March 31, revealing revenue improvement of 39% year-over-year reaching $5 million, from $3.9 million. The <a href="https://www.benzinga.com/markets/cannabis/24/05/38839707/jones-sodas-marijuana-drinks-bring-in-200-higher-q1-revenue-co-eyes-expansion-and-praises-new-he">quarterly results</a> include approximately $600,000 in revenue from the cannabis business – Mary Jones, compared to approximately $200,000 in the first quarter of 2023.
<h2 class="wp-block-heading">The Offering Highlights</h2>
Each unit will be composed of: one common share in the capital of the company, and one‐half of one detachable share purchase warrant. Each warrant will be exercisable into one common share at a price of 50 cents per share for a period of 24 months from the date of issuance, subject to certain conditions. The Vancouver, British Columbia-based company has the right to accelerate the expiry date of the warrants to the date that is 30 days following delivery of a notice of acceleration to holders of warrants if at any time the closing price of the shares on the OTC (or other stock exchange or over-the-counter market in the United States or on the Canadian Securities Exchange) exceeds 80 cents for a period of five consecutive trading days.
Each warrant may be exercised anytime during the warrant exercise period upon the voluntary election to exercise by the warrant holder.
Jones Soda plans to use the net proceeds of the offering to support growth and for standard corporate practices.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/05/38720056/cannabis-infused-innovator-jones-soda-co-partners-with-street-league-skateboarding-in-multi-year">Cannabis-Infused Innovator Jones Soda Co. Partners With Street League Skateboarding In Multi-Year Deal</a>
The units are being offered and sold in the offering to persons in the United States who qualify as accredited investors in reliance on Rule 506(b) of Regulation D under the U.S. Securities Act, and outside the United States to non-U.S. persons in reliance on Regulation S under the U.S. Securities Act.
None of the common shares, warrants or common shares issuable upon the exercise of such warrants will be subject to any hold period under Canadian securities laws, but all such securities will be considered restricted securities under the U.S. Securities Act.
The company expects to close the offering on or about July 18, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the CSE.
Price Action: Jones Soda shares closed Wednesday market session 2.11% lower at 46 cents per share.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39717453/high-demand-cannabis-e-commerce-sales-ignite-with-32-surge-on-fourth-of-july">High Demand: Cannabis E-Commerce Sales Ignite With 32% Surge On Fourth Of July</a></li>
</ul>
To keep on top of what is happening with cannabis stocks and everything across the industry, join us at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9.&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices go up by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
Photo: Courtesy of SD_FlowerPower via Shutterstock

Offerings

Weed-Infused Innovator Jones Soda Launches $3M Offering

Jones Soda Co. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#CSE">JSDA</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#OTCQB">JSDA</a>) reported its financial results for the first quarter ending March 31, 2024, revealing revenue improvement of 39% year-over-year reaching $5 million, from $3.9 million. The quarterly results include approximately $600,000 in revenue from the cannabis business &#8211; Mary Jones, compared to approximately $200,000 in the first quarter of 2023.
&#8220;2024 is off to a great start as I&#8217;m pleased to report our highest revenue performance for the first quarter since 2009,&#8221; stated David&nbsp;Knight, president and CEO of Jones Soda. &#8220;I believe we are making excellent progress&nbsp;transitioning Jones from a soda company to a high-growth beverage company.&nbsp;Through this process, we have entered into several strategic partnerships to expand our product offerings and overall brand awareness across both our Jones Soda and Mary Jones brands."
More about investments and financial data from the industry&nbsp;you can hear&nbsp;at the&nbsp;<a target="_blank" href="https://www.benzinga.com/events/cannabis-conference/?UTM_source=article" rel="noreferrer noopener">19th Benzinga Cannabis Capital Conference</a>&nbsp;in Chicago this October 8-9.&nbsp;Engage with top executives, investors, policymakers, and advocates to explore the&nbsp;industry's&nbsp;future. Secure your tickets now before prices increase by following&nbsp;<a target="_blank" href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener">this link</a>.
<h2 class="wp-block-heading">Q1 2024 Vs Q1 2024 Financial Highlights</h2>
<ul>
<li>Gross profit as a percentage of revenue increased 850 basis points to 37.8% compared to 29.3%.</li>
<li>Net loss improved to $1.2 million, or $(0.01) per share, compared to a net loss of $1.4 million, or $(0.01) per share.</li>
<li>Adjusted EBITDA was a loss of $1.0 million compared to a loss of $1.1 million.</li>
<li>On March 31, 2024, cash and cash equivalents totaled $2.8 million compared to $3.9 million on December 31, 2023, and $6.4 million on March 31, 2023. On March 29, 2024, Jones Soda received a commitment letter from a creditor to provide the company with a $2.0 million revolving credit facility for working capital needs.</li>
</ul>
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/05/38720056/cannabis-infused-innovator-jones-soda-co-partners-with-street-league-skateboarding-in-multi-year" rel="noreferrer noopener">Cannabis-Infused Innovator Jones Soda Co. Partners With Street League Skateboarding In Multi-Year Deal</a>
Knight continued,"Regarding Mary Jones, we continue to make progress with geographic expansion into new markets and introducing new product offerings. Our newly launched Hemp Delta-9 products have been met with incredible reception from the broader consumer base, and we believe this product line will be a core growth driver going forward."
<h2 class="wp-block-heading">Price Action&nbsp;</h2>
Jones Soda closed&nbsp;Tuesday&nbsp;market session 1% higher at 27 cents per share.&nbsp;
Courtesy photo

Jones Soda's Marijuana Drinks Bring In 200% Higher Q1 Revenue, Co. Eyes Expansion And Praises New Hemp Delta-9 Products

Street League Skateboarding (SLS) and Jones Soda Co. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/jsda#OTC">JSDA</a>), a leader in craft sodas and innovative <a href="https://www.benzinga.com/topic/cannabis-beverages">cannabis-infused beverages</a>, have announced a multi-year partnership. This alliance is set to nurture the next generation of skateboarders and enhance fan experiences at SLS events.
This collaboration integrates <a href="https://www.benzinga.com/markets/cannabis/23/02/30891156/video-jones-soda-weedbates-and-dual-draft-on-cannabis-insider-execs-discuss-opportunities-challe">Jones Soda&rsquo;s distinctive craft soda</a> line and its action sports legacy into various aspects of the SLS, including venues, athlete activations&nbsp;and content branding for the 2024 and 2025 seasons.
&quot;At Thrill One, we&#39;re excited to partner with Jones Soda, a <a href="https://www.benzinga.com/markets/cannabis/22/03/26101599/mary-jones-jones-soda-launches-cannabis-beverage-gummies-and-syrup-line">brand</a> with a deep, historical commitment to action sports and consumers,&quot; <a href="https://www.benzinga.com/pressreleases/24/05/n38717180/street-league-skateboarding-sls-and-jones-soda-sign-multi-year-partnership-to-champion-action-spor">said</a> Matt Cohn, CEO of Thrill One Sports &amp; Entertainment, the parent company of SLS. &quot;Their innovative approach to fan engagement, capturing the spirit of early social media through their<a href="https://www.benzinga.com/markets/cannabis/23/01/30355248/mary-jones-thc-infused-soda-to-launch-in-washington"> iconic labels</a>, showcases their status as pioneers in connecting with audiences. Together, we look forward to building on this existing loyalty, celebrating and developing the next generation of skateboarders, and enhancing our shared experience with fans worldwide.&quot;
<h3>SLS Futures</h3>
The partnership promises to bring a fresh dynamic to SLS events, starting with the upcoming SLS Apex on May 25.
A cornerstone of this alliance is the newly introduced &#39;SLS Futures&#39;, a youth development program sponsored by Jones Soda. This initiative will be hosted at the renowned Woodward action sports camp, providing a platform for young skateboarders to hone their skills and compete for opportunities to advance in the sport.
<h3>SLS Super Crown World Championship</h3>
This partnership builds on the impressive growth and popularity SLS has enjoyed over recent seasons.
Following a record-breaking 2023 season, which saw the <a href="https://www.streetleague.com/">SLS Super Crown World Championship</a> in S&atilde;o Paulo attract over 15 million viewers, the league continues to see significant growth in social media engagement and broadcast viewership.
The alliance with Jones Soda is set to amplify this momentum, promising to deliver enhanced experiences for fans and athletes alike.
Are you interested in finding the right partnership for your business in the cannabis industry? Don&#39;t miss the opportunity to join us at the&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/?UTM_source=article" target="_blank">19th Benzinga Cannabis Capital Conference</a>&nbsp;in Chicago this October 8-9. Engage with top executives, investors, policymakers, and advocates to explore the industry&#39;s future. Secure your tickets now before prices increase by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank">this link</a>.
Photo: AI-Generated Image.&nbsp;

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Emerging Markets

Sports

Events

Success Stories

Cannabis-Infused Innovator Jones Soda Co. Partners With Street League Skateboarding In Multi-Year Deal

As the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> gets underway in Florida, gathering top CEOs, investors and leaders in the cannabis industry, let's scroll through the latest leadership changes in space, starting with companies that named new CEOs over the past period.
Decibel Cannabis Company Inc. (TSXV:<a class="ticker" href="https://www.benzinga.com/stock/DB#TSXV">DB</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/DBCCF#OTCQB">DBCCF</a>) tapped Benjamin Sze to serve as its CEO a week ago, succeeding Paul Wilson. Sze rejoined the company after previously serving as CEO before resigning in late 2020 to focus on his family.
Denver-based Medicine Man Technologies, Inc., operating as Schwazze, (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/SHWZ#OTCQX">SHWZ</a>) (NEO: SHWZ)  appointed its CFO Forrest Hoffmaster to the additional role of interim CEO in late February, following Nirup Krishnamurthy&#8217;s resignation as CEO and as a member of the board of directors.
Cannabis packaging and logistics company DIZPOT named Laura Sidney as its interim CEO in March.
Online cannabis seed bank I Love Growing Marijuana, wrapped up last month by welcoming Ernst Rustenhoven as its new CEO.
Interestingly, chief executive officers leading U.S.-based multi-state <a href="https://www.benzinga.com/cannabis" target="_blank" rel="noreferrer noopener">cannabis</a> operators have surpassed the $500,000 base salary threshold in 2024 with annual median salaries topping $511,600 and representing a nearly 8% year-over-year increase. That&#8217;s roughly seven times what mid-level managers in the industry make, according to CannabizTeam Worldwide&#8216;s 2024 <a href="https://www.benzinga.com/markets/cannabis/24/03/37957963/hiring-surge-predicted-in-cannabis-sector-top-5-high-paying-industry-roles-in-2024https://www.benzinga.com/markets/cannabis/24/03/37957963/hiring-surge-predicted-in-cannabis-sector-top-5-high-paying-industry-roles-in-2024">Cannabis Industry Salary Guide.</a>
See also: <a href="https://www.benzinga.com/markets/cannabis/24/01/36803372/international-cannabis-executives-to-watch-in-2024">International Cannabis Executives To Watch In 2024</a>
<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/15114142/2231044_CCCFloridaGIF_V2_031124-1-35.gif" alt="" class="wp-image-292195" /></a></figure>
<h3 class="wp-block-heading">Multiple Appointments</h3>
<ul>
<li>District Cannabis, the premier cannabis cultivator in Maryland and the District of Columbia appointed Bethany Frick as CEO and Bryce Freeman as COO recently, in an attempt to "position the company well as it forges ahead with its market expansion efforts in the region."</li>
<li>Cannabis company Jones Soda Co. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#CSE">JSDA</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/JSDA#OTCQB">JSDA</a>), behind the original craft soda, recently announced a new operations team in March. Beverage expert Eric Bittner joined Jones as its new chief operating officer while experienced research and development scientist Mary Money has been named director of new product development and commercialization.</li>
<li>ElleVet Sciences, a maker of hemp-based CBD products for pets recently expanded its executive leadership team with the promotion of Haley Israelson to chief financial officer and the addition of Ryan Shadrin as chief commercial officer.</li>
</ul>
<h3 class="wp-block-heading">New COOs and CFOs</h3>
<ul>
<li>On Monday, vertically integrated, multi-state cannabis operator Jushi Holdings Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/JUSH#CSE">JUSH</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/JUSHF#OTCQX">JUSHF</a>) appointed Todd West as its head of operations.</li>
<li>Cannabis genetics company Phylos, advancing the science of cannabis and making large-scale cannabis production profitable and environmentally sustainable, named Whitney Conroy as its chief commercial officer in February.</li>
<li>Cannabis consumer products maker and distributor Turning Point Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPB#NYSE">TPB</a>) named Andrew Flynn as the head of its finance department in March.</li>
<li>Greenway Greenhouse Cannabis Corporation (CSE:<a class="ticker" href="https://www.benzinga.com/stock/GWAY#CSE">GWAY</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/GWAYF#OTCQB">GWAYF</a>), a cultivator of high-quality greenhouse cannabis for the Canadian market, also named a new chief finance officer recently, Kyle Appleby who has "an impressive track record of financial leadership spanning over two decades."</li>
</ul>
<h3 class="wp-block-heading">Latest Board Changes</h3>
<ul>
<li>Vancouver-based developer of marijuana and alcohol breath testing devices Cannabix Technologies Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/BLO#CSE">BLO</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BLOZF#OTC">BLOZF</a>) kicked off April by welcoming Dr. Phillip Olla (Ph.D.) to its board of directors.</li>
<li>In March, healthcare expert Terry Lierman joined IGC Pharma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGC#NYSE">IGC</a>) as an independent director of the board to advance the company's Alzheimer's pipeline.</li>
<li>iAnthus Capital Holdings, Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/IAN#CSE">IAN</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/ITHUF#OTCQB">ITHUF</a>) announces the resignation of John Paterson from its board of directors in mid-March.</li>
<li>Meanwhile, Simply Solventless Concentrates Ltd. (TSXV:<a class="ticker" href="https://www.benzinga.com/stock/HASH#TSXV">HASH</a>) tapped veteran cannabis executive Olen Vanderleeden to serve on its board of directors in February.</li>
<li>In late March, Compass Pathways plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPS#NASDAQ">CMPS</a>) announced its co-founders, George Goldsmith and Ekaterina Malievskaia, resigned from the company's board of directors.</li>
</ul>
<h3 class="wp-block-heading">Other Industry Appointments, Resignations And Promotions</h3>
<ul>
<li>Cannabis Bioscience International Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBIH#OTC">CBIH</a>) reported in February that Brian Cuban, the younger brother of the former principal owner of the Dallas Mavericks, Mark Cuban, has been elected to serve as an advisory board member in the firm.</li>
<li>Massachusetts-based Needham Bank expanded its cannabis banking practice and has hired Brandon Curran as vice president and business development officer to help build market share.</li>
<li>On Thursday, Shield Compliance, a compliance platform for cannabis banking, said it has promoted Jenna Meyer to the position of chief operating officer and Cami Cantrell to executive vice president of administration and professional services.</li>
<li>Alabama Medical Cannabis Commission's (AMCC) member Dr. Jerzy Szaflarski resigned in April. An M.D. and Ph.D. with the UAB School of Medicine, Szaflarski was appointed to the AMCC in September 2021, as reported by 1819 News.</li>
<li>Meanwhile, Grasslands: A Journalism-Minded Agency, a cannabis and psychedelics PR and marketing, recently officially expanded into the broader natural products and wellness sector. </li>
</ul>
Now read: <a href="https://www.benzinga.com/markets/cannabis/23/12/36370489/key-leadership-changes-in-cannabis-you-should-know-about-as-we-head-into-2024">Key Leadership Changes In Cannabis You Should Know About As We Head Into 2024</a> 
The <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a> is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">The Diplomat Beach Resort</a> will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
<a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Get your tickets now on </a><a href="http://bzcannabis.com" target="_blank" rel="noreferrer noopener">bzcannabis.com</a><a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener"> – Prices will increase very soon!</a>

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JUSHI HLDGS INC CL B by Jushi Holdings Inc.

JUSHF

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TSXV:HASH

Who's Who In Cannabis: Latest Executive Changes You Should Know About

The Dow Jones index closed lower by around 475 points on Wednesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#39;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Allied Gaming &amp; Entertainment </h3>
<ul>
<li>The Trade: Allied Gaming &amp; Entertainment Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/agae#NASDAQ">AGAE</a>) 10% owner Knighted Pastures LLC<a href="https://www.benzinga.com/quote/AGAE/analyst-ratings"> acquired a total of 163,534 shares </a> an average price of $1.43. To acquire these shares, it cost around $233,053.</li>
<li>What&rsquo;s Happening: On Nov. 9, Allied Gaming posted a decline in third-quarter sales.</li>
<li>What Allied Gaming &amp; Entertainment Does: Allied Gaming &amp; Entertainment Inc is an experiential entertainment company focused on providing a growing world of gamers with various experiences through renowned assets, products, and services.</li>
</ul>
<h3>Jones Soda</h3>
<ul>
<li>The Trade: Jones Soda Co. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/jsda#OTC">JSDA</a>) Director Gregg Reichman <a href="https://www.benzinga.com/sec/insider-trades/"> acquired a total of 150,000 shares </a> at an average price of $0.15. To acquire these shares, it cost around $21,750.</li>
<li>What&rsquo;s Happening: On Nov. 9, Jones Soda posted a narrower quarterly loss.</li>
<li>What Jones Soda Does: Jones Soda Co develops, produces, markets and distributes premium beverages which the company sells and distributes in the United States and Canada through its network of independent distributors and directly to its national and regional retail accounts.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/12/36322335/top-4-tech-stocks-that-are-set-to-fly-in-q4"> Top 4 Tech Stocks That Are Set To Fly In Q4 </a>
<h3>Globalstar </h3>
<ul>
<li>The Trade: Globalstar, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gsat#NYSE">GSAT</a>) Director James F Lynch <a href="https://www.benzinga.com/sec/insider-trades/"> acquired a total of 750,000 shares </a> at an average price of $1.69. The insider spent around $1.26 million to buy those shares.</li>
<li>What&rsquo;s Happening: On Nov. 2, Globalstar reported third-quarter FY23 sales growth of 53% year-on-year to $57.7 million, beating the consensus of $53.7 million.</li>
<li>What Globalstar Does: Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services.</li>
</ul>
<h3>Amtech Systems </h3>
<ul>
<li>The Trade: Amtech Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asys#NASDAQ">ASYS</a>) Director Robert Averick <a href="https://www.benzinga.com/quote/ASYS/analyst-ratings"> acquired a total of 14,000 shares </a> at an average price of $3.90. The insider spent around $54,600 to buy those shares.</li>
<li>What&rsquo;s Happening: Amtech recently reported worse-than-expected fourth-quarter sales results and issued first-quarter sales guidance below estimates.</li>
<li>What Amtech Systems Does: Amtech Systems Inc is a manufacturer of capital equipment, including thermal processing and wafer polishing, and related consumables used in fabricating semiconductor devices, such as silicon carbide (SiC) and silicon power chips, electronic assemblies, and light-emitting diodes (LEDs).</li>
</ul>
&nbsp;
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
&nbsp;

Long Ideas

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Over $1M Bet On Globalstar? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying

The Dow Jones closed lower by around 40 points on Monday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#39;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>FTC Solar </h3>
<ul>
<li>The Trade: FTC Solar, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ftci#NASDAQ">FTCI</a>) Director Ahmad Chatila <a href="https://www.benzinga.com/quote/FTCI/analyst-ratings"> acquired a total of 14,550 shares </a> an average price of $0.68. To acquire these shares, it cost around $9,894.</li>
<li>What&rsquo;s Happening: On Nov. 8, FTC Solar reported mixed third-quarter financial results and issued guidance.</li>
<li>What FTC Solar Does: FTC Solar Inc is a global provider of advanced solar tracker systems, supported by proprietary software and value-added engineering services.</li>
</ul>
<h3>Retractable Technologies</h3>
<ul>
<li>The Trade: Retractable Technologies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rvp#NYSE">RVP</a>) President and CEO Thomas J Shaw <a href="https://www.benzinga.com/sec/insider-trades/"> acquired a total of 1,626 shares </a> at an average price of $1.15. To acquire these shares, it cost around $1,865.</li>
<li>What&rsquo;s Happening: On Nov. 14, Retractable Technologies reported that its loss from operations was $8.7 million for the first nine months of 2023.</li>
<li>What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/23/12/36068219/top-4-financial-stocks-that-may-fall-off-a-cliff-in-q4"> Top 4 Financial Stocks That May Fall Off A Cliff In Q4</a><a href="https://www.benzinga.com/news/earnings/23/12/36063278/saic-hawaiian-holdings-and-3-stocks-to-watch-heading-into-monday"> </a>
<h3>Cyanotech </h3>
<ul>
<li>The Trade: Cyanotech Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cyan#NASDAQ">CYAN</a>) Director Michael Davis <a href="https://www.benzinga.com/sec/insider-trades/"> acquired a total of 39,455 shares </a> at an average price of $0.90. The insider spent around $35,510 to buy those shares.</li>
<li>What&rsquo;s Happening: On Nov. 8, Cyanotech posted a narrower loss for the second quarter.</li>
<li>What Cyanotech Does: Cyanotech Corp is engaged in the production of natural products derived from microalgae for the nutritional supplements market.</li>
</ul>
<h3>Jones Soda </h3>
<ul>
<li>The Trade: Jones Soda Co. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/jsda#OTC">JSDA</a>) Director Gregg Reichman <a href="https://www.benzinga.com/quote/JSDA/analyst-ratings"> acquired a total of 175,200 shares </a> at an average price of $0.15. The insider spent around $26,277 to buy those shares.</li>
<li>What&rsquo;s Happening: On Nov. 9, Jones Soda posted a narrower quarterly loss.</li>
<li>What Jones Soda Does: Jones Soda Co develops, produces, markets and distributes premium beverages which the company sells and distributes in the United States and Canada through its network of independent distributors and directly to its national and regional retail accounts.</li>
</ul>
&nbsp;
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>

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