EX-99.25 2 jsdadelistreason.txt Delisting Determination,The Nasdaq Stock Market, LLC, October 11, 2012, Jones Soda Co. The Nasdaq Stock Market, Inc. (the Exchange) has determined to remove from listing the common stock of Jones Sods Co. (the Company), effective at the opening of the trading session on October 22, 2012. Based on review of information provided by the Company, Nasdaq Staff determined that the Company no longer qualified for listing on the Exchange pursuant to Listing Rule 5550(a)(2). The Company was notified of the Staffs determination on September 11, 2012. The Company did not appeal the Staff determination to the Hearings Panel, and the Staff determination to delist the Company became final on September 20, 2012.