PROSPECTUS SUPPLEMENT NO. 5 | Filed Pursuant to Rule 424(b)(3) |
(To Prospectus dated May 3, 2013) | Registration No. 333-166556 |
0-28820 | 52-2336602 |
(Commission File Number) | (IRS Employer Identification No.) |
1000 First Avenue South, Suite 100, Seattle, Washington | 98134 |
(Address of Principal Executive Offices) | (Zip Code) |
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 9.01. | Financial Statements and Exhibits. |
(d) | Exhibits. |
Exhibit No. | Exhibit Description | |
99.1 | Press Release, dated | November 7, 2013 |
JONES SODA CO. | ||||
Date: | November 7, 2013 | By: | /s/ Carrie L. Traner | |
Carrie L. Traner, Vice President of Finance |
• | Revenue increased 1% to $4.22 million, compared to $4.17 million last year. |
• | Gross margin decreased to 24.0% of revenue, compared to 27.8% of revenue last year. |
• | Operating expenses decreased 9% to $1.3 million, compared to $1.5 million last year. |
• | Net loss increased 2% to $330,000, or $(0.01) per share, compared to a net loss of $324,000, or $(0.01) per share, last year. |
• | Revenue decreased 13% to $11.6 million, compared to $13.3 million last year. |
• | Gross margin decreased to 25.9% of revenue, compared to 28.4% of revenue last year. |
• | Operating expenses decreased 38% to $3.8 million, compared to $6.2 million last year. |
• | Net loss declined 66% to $824,000, or $(0.02) per share, compared to a net loss of $2.5 million, or $(0.07) per share, last year. |
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||
(In thousands, except share data) | |||||||||||||||
Revenue | $ | 4,217 | $ | 4,165 | $ | 11,600 | $ | 13,295 | |||||||
Cost of goods sold | 3,203 | 3,009 | 8,592 | 9,519 | |||||||||||
Gross profit | 1,014 | 1,156 | 3,008 | 3,776 | |||||||||||
Operating expenses: | |||||||||||||||
Promotion and selling | 646 | 571 | 1,744 | 2,848 | |||||||||||
General and administrative | 692 | 893 | 2,057 | 3,303 | |||||||||||
1,338 | 1,464 | 3,801 | 6,151 | ||||||||||||
Loss from operations | (324 | ) | (308 | ) | (793 | ) | (2,375 | ) | |||||||
Other income (expense), net | 14 | 9 | 18 | (7 | ) | ||||||||||
Loss before income taxes | (310 | ) | (299 | ) | (775 | ) | (2,382 | ) | |||||||
Income tax expense, net | (20 | ) | (25 | ) | (49 | ) | (73 | ) | |||||||
Net loss | $ | (330 | ) | $ | (324 | ) | $ | (824 | ) | $ | (2,455 | ) | |||
Net loss per share - basic and diluted | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.02 | ) | $ | (0.07 | ) | |||
Weighted average basic and diluted common shares outstanding | 38,622,724 | 38,545,118 | 38,561,298 | 37,698,661 |
Three months ended September 30, | Nine months ended September 30, | ||||||||||
Case sale data (288-ounce equivalent): | 2013 | 2012 | 2013 | 2012 | |||||||
Finished product cases | 327,000 | 292,900 | 858,000 | 965,100 |
September 30, 2013 | December 31, 2012 | ||||||
(Unaudited) | |||||||
(In thousands, except share data) | |||||||
ASSETS | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 1,162 | $ | 1,654 | |||
Accounts receivable, net of allowance of $34 and $93 | 2,130 | 1,742 | |||||
Inventory | 2,787 | 2,223 | |||||
Prepaid expenses and other current assets | 164 | 264 | |||||
Total current assets | 6,243 | 5,883 | |||||
Fixed assets, net of accumulated depreciation of $1,156 and $1,787 | 292 | 497 | |||||
Other assets | 254 | 640 | |||||
Total assets | $ | 6,789 | $ | 7,020 | |||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||
Current liabilities: | |||||||
Accounts payable | $ | 1,350 | $ | 885 | |||
Accrued expenses | 678 | 767 | |||||
Taxes payable | 31 | 45 | |||||
Other current liabilities | 46 | 54 | |||||
Total current liabilities | 2,105 | 1,751 | |||||
Long-term liabilities — other | 419 | 485 | |||||
Shareholders’ equity: | |||||||
Common stock, no par value: | |||||||
Authorized — 100,000,000; issued and outstanding shares — 38,680,416 and 38,530,416 shares, respectively | 52,972 | 52,867 | |||||
Additional paid-in capital | 7,839 | 7,590 | |||||
Accumulated other comprehensive income | 402 | 451 | |||||
Accumulated deficit | (56,948 | ) | (56,124 | ) | |||
Total shareholders’ equity | 4,265 | 4,784 | |||||
Total liabilities and shareholders’ equity | $ | 6,789 | $ | 7,020 |
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