13D Filing: Indus Capital and Jamba Inc. (JMBA)

Purpose of Transaction.

The Reporting Persons acquired the Common Stock reported on this
Schedule 13D for investment purposes. The Reporting Persons purchased the shares based on the belief that the shares were undervalued
and represented an attractive investment opportunity.

On May 5^th, 2017, Ethan Devine, a member of Indus Capital
Partners, LLC and a Portfolio Manager for Indus Markor Master Fund was invited to attend Board of Director meetings for Jamba Inc.
over the next twelve months. He will attend the meetings solely in the capacity of an observer and will not have any voting or
governance rights associated with the Board of Directors.

The Reporting Persons have
no plans or proposals as of the date of this filing which would relate to or would result in: (a) any extraordinary corporate transaction
involving the Issuer; (b) any change in the present Board of Directors or management of the Issuer; (c) any material change in
the present capitalization or dividend policy of the Issuer; (d) any material change in the operating policies or corporate structure
of the Issuer; (e) any change in the Issuer’s charter or by-laws; (f) the Shares of the Issuer ceasing to be authorized to be quoted
in the NASDAQ inter-dealer quotation system; or (g) causing the Issuer to become eligible for termination of registration pursuant
to Section 12(g)(4) of the Securities Exchange Act of 1934.

The Reporting Persons,
however, reserve the right, at a later date, to effect one or more of such changes or transactions in the number of shares they
may be deemed to beneficially own.

Interest in Securities of the Issuer.

As of the date of this Schedule 13D, each of the Reporting Persons
beneficially owns 1,430,860 shares of Common Stock of the Issuer, which represents 9.3% of the outstanding Common Stock.

Each of the Reporting Persons shares voting and dispositive power
over the Shares of Common Stock held by the Clients.

The Reporting Persons did not have any trading activity over the
past sixty days.

No person other than the Reporting Persons
is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the
Common Stock.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.