SINGAPORE, September 19, 2022 – (ACN Newswire) – Society Pass Incorporated (Nasdaq: SOPA) (“SoPa” or the “Company”), today Southeast Asia’s (“SEA”) leading data-driven loyalty and e-commerce ecosystem, provides the Announced Filing of Form 8-K/A with the Securities and Exchange Commission (“SEC”) in connection with the acquisition of AdActive Media CA, Inc (the “CA Sub”) and Thoughtful Thailand Ltd (the “Thailand Sub”), (The Thailand Sub and the CA Sub comprise the “Acquired Subsidiaries”).
Click here (on the SEC website) to view the Form 8-K/A filing.
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001817511/000160706222000581/sopa091222form8ka.htm
Summary points:
– On July 7, 2022, SoPa, through its wholly owned subsidiary, Thoughtful Media Group Incorporated (“Thoughtful Media” or “TMG”), a Nevada company, launched a Thailand-based premium social commerce-focused digital video multi-platform network ( (“MPN”)/social media influencer advertising platform acquired by AdActive Media Group, Inc., a Delaware company, (i) the entire outstanding common stock of CA Sub and (ii) 99.75% of all the outstanding common stock of Thailand sub
– With the integration of the acquired subsidiaries into its platform, TMG is a premium social commerce-focused MPN digital video/social media influencer advertising platform headquartered in Thailand with operational presence in the US, Vietnam and the Philippines. TMG expects to expand into Indonesia and Singapore in Q4 2022.
– Combined revenues and losses from operations of the acquired subsidiaries for Q1 2022 totaled $1,312,986 and $84,582, respectively.
– Combined revenues and losses from operations of the acquired subsidiaries for Q1 2021 totaled $1,265,053 and $114,032, respectively.
– Combined revenues and losses from operations of the acquired subsidiaries in 2021 totaled $5,655,795 and $1,173,022, respectively.
– Combined 2020 revenues and losses from operations of the acquired subsidiaries totaled $5,928,800 and $899,933, respectively.
About Society Pass Inc
Founded in 2018 as a digitally focused loyalty and data marketing ecosystem in the fast-growing markets of Vietnam, Indonesia, the Philippines, Singapore and Thailand, which represent more than 80% of the SEA population, and with offices in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila and Singapore, SoPa is an acquisition-driven e-commerce holding company operating 6 interconnected verticals (Loyalty, Digital Media, Travel, Telecom, Lifestyle and F&B) seamlessly connecting millions of registered Consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories across SEA.
Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were included in the Russell 2000 Index in December 2021.
SoPa acquires fast-growing e-commerce companies and expands its user base through a robust product and service ecosystem. SoPa is integrating these complementary businesses through its Society Pass loyalty platform and the proliferation of its universal loyalty points, or Society Points, which have entered beta testing and are expected to be widely rolled out in early 2023. Society Pass loyalty program members earn and redeem Society points and receive personalized promotions based on SoPa’s data capabilities and understanding of consumer shopping behavior. SoPa has more than 3.3 million registered consumers and over 205,000 registered retailers and brands. It has invested more than 2 years in building a proprietary IT architecture to effectively scale and support its consumers, merchants and acquisitions.
Society Pass uses technology to create a more personalized experience for customers throughout the checkout process, transforming the entire retail value chain into SEA. SoPa operates Thoughtful Media Group, a Thailand-based, multi-platform, social commerce-focused premium digital video network; NusaTrip, a leading Indonesia-based online travel agency; Gorilla Networks, a Singapore-based, Web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in the Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Manganese, a leading local restaurant delivery service in the Philippines. For more information, visit: http://thesocietypass.com/.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements in this press release, other than statements of historical fact, are forward-looking statements. As used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions identify forward-looking statements when they relate to us or our management team. Such forward-looking statements are based on management’s beliefs, assumptions and information currently available to the Company’s management. Actual results could differ materially from those projected in the forward-looking statements as a result of certain factors detailed in the Company’s SEC filings. All of the following forward-looking statements, whether written or oral, attributable to us or persons acting on our behalf are included within this paragraph in their entirety. Forward-looking statements are subject to numerous conditions, many of which are beyond the Company’s control, including those set forth in the “Risk Factors” section of the Company’s registration statement and prospectus relating to the Company’s SEC filing. The company assumes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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