Jones Soda needs to get Above $1 a Share

It was only a matter of time, Jones Soda Company (NASDAQ:JSDA) has received a deficiency letter from Nasdaq because its share price has fallen below the minimum level required for continued listing on the Nasdaq Capital Market. 
In accordance with Nasdaq rules, the company has been given an initial period of 180 calendar days, until 15 March 2010, to regain compliance.  Time to flex your muscles Jones!

Jones shares were last above $1 back in June, but in the last 3 months JSDA has slid 20% and is not just under a buck at 93 Cents. 

However, Jones shares were in the 70 Cents range these past 30 days but got a spike in buying last Wednesday.  Since last Wednesday, Sept 16th Jones shares have jumped 30% -- feels like a penny stock Masters.

Jones now is going to be played by day traders, expect the stock to bounce all over the place until the company manages to get Wall Street's approval and stay above $1.  In order to return to compliance, the bid price would have to close at $1.00 per share or more for a minimum of ten consecutive business days. Under some circumstances, Nasdaq has discretion to require compliance for a longer period but this is generally no more than 20 consecutive days.
 
On 15 March, 2010, Jones Soda would be eligible for a further 180-day period to return to compliance.
 
Last month, Jones Soda reported a narrowing of its net losses for the second quarter but said it still had "much work" to do in order to achieve long-term profitability. For the second quarter to 30 June, net losses fell by 28% to US$2m from the previous year's Q2 net losses of $2.7m.
 
President and CEO Joth Ricci said the company was pleased with efficiency gains that had been made but warned that further cost cutting would be necessary in the near future.

SOURCE: http://www.just-drinks.com/article.aspx?id=98507

Click Here to Learn More about Our Free Investing Newsletter, that's right, FREE!!!>>