Jones Soda Announces Receipt of NASDAQ Minimum Bid Price Non-Compliance Letter (JSDA)

Last week we noticed Jones Soda (NASDAQ: JSDA) moving up strong on unusual volume with no news. The stock rose from its recent trading range of around $0.70/share to just under $1.00/share.

On Friday Jones Soda did issue a press release, however this was probably not what investors had in mind. Jones announced that they received a letter of non-compliance from NASDAQ in regards to their share price. The exchange requires a minimum bid price of $1.00/share, which Jones has failed to meet as of late.

The company has approximately 1 year from now through grace periods and extensions to comply, before the exchange would commence delisting.

Jones Soda is trading down 1% to $.92/share in afternoon trading.