M&A - SOCIETY PASS INCORPORATED.

Form Type: 10-Q

Filing Date: 2025-05-20

Corporate Action: Acquisition

Type: New

Accession Number: 000121390025045955

Filing Summary: On May 20, 2025, Society Pass Incorporated filed its quarterly report for the period ending March 31, 2025. The company reported total assets of $22.91 million, up from $21.28 million as of December 31, 2024. Current liabilities increased slightly to $23.30 million, with an accumulated deficit of approximately $112 million. The company experienced a net loss of approximately $1.84 million for the quarter, a reduction from a loss of about $2.84 million during the same period in 2024. The report included several acquisitions and strategic movements, particularly highlighting the acquisition of various businesses in the Asia market aimed at enhancing its online services. Additional notes discussed the discontinuation of certain operations in response to market conditions. The company reported revenues of $1.47 million for the quarter, a decrease from $1.85 million year-over-year.

Form Type: 10-K

Filing Date: 2025-04-16

Corporate Action: Acquisition

Type: New

Accession Number: 000121390025032266

Filing Summary: Society Pass Incorporated (SoPa) is an emerging growth company focusing on building a digital ecosystem through the operation and acquisition of fintech and e-commerce platforms across Southeast Asia. It has made several strategic acquisitions, including platforms for food delivery, digital marketing, and travel services, significantly enhancing its operational capabilities. The company's loyalty platform enables users to earn points and fosters interactions between consumers and merchants, creating a cycle of revenue generation. SoPa has a diversified business approach encompassing loyalty, lifestyle, telecommunications, digital media, and travel services. Financially, the company has incurred net losses of $10,237,297 and $18,098,918 in 2024 and 2023, respectively. The firm plans to continue expanding its market presence through opportunistic acquisitions and a launch of its unique loyalty system. Economic expansion, a growing middle class, and increased internet penetration in Southeast Asia are seen as key market opportunities.