Struggling beverage company Jones Soda says it will likely need more money order to stay in business.

Jones Soda, headquartered in Seattle, develops, produces, markets and distributes beverages, including pure cane soda, low-calorie soda, sparkling water, merchandise and company-branded apparel. The company's products are sold mainly through independent distributors in the U.S. and Canada. Jones' products are also sold in grocery, convenience and gas station shores.

As of Sept. 30, the company has about $577,000 in cash and $3.3 million available as working capital. The company's expenses increases – Jones used about $1.6 million in cash for operations in the first three quarters, compared to $623,000 for the same period the previous year.

The company says the money should last through the first half of 2015. Jones also has a $2 million revolving secured credit facility with BFI Business Finance that could potentially provide working capital.

The company said in a Nov. 10 filing with the U.S. Securities and Exchange Commission that uncertainty related to its ability to execute on its business plan and finance operations raise substantial doubt about its ability to continue as a going concern, or without the threat of liquidation.

In 2012, Jones made cuts to operating expenses and personnel in order to preserve cash. The company says that it may need additional financing in order to support future working capital requirements. Jones also says that it may consider public or private debt or equity security offerings, a rights offering or other strategic alternatives, if needed.

For the third quarter of 2014, the company bought in about $4.4 million in revenue, up from $4.2 million in revenue for that same period in 2013. For the nine months ended September 2013, Jones brought in about $11.1 million.  For the third quarter of 2014, the company had a net loss of $233,000 – a decrease from the previous year's $330,000 loss in Q3.

The company's plans to grow sales include focusing on international expansion and a grass roots marketing campaign.

For the previous edition of Turnaround Tuesday, see Amid Restructuring, University General Health Hires IBank to Sell Dallas Hospital

For more struggling companies, see Mergers & Acquisitions Distressed Company Watch List.  

Editor's Note: Turnaround Tuesday will resume publishing on Dec. 30.

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