New York, NY –News Direct– Society Pass Incorporated
New York, NY, September 16, 2022 – Incorporated Company Pass (Nasdaq: SOPA) (“SoPa” or the “Company”), Southeast Asia’s leading data-driven loyalty and e-commerce ecosystem (“SEA”), today announces the filing of Form 8-K/A with the Securities and Exchange Commission (“SEC”) in connection with the acquisitions of AdActive Media CA, Inc (the “CA Subsidiary”) and Thoughtful Thailand Ltd (the “Thai Subsidiary”), (the Thai Subsidiary and subsidiary CA include “acquired subsidiaries”).
Click here (on the SEC website) to view the Form 8-K/A filing.
• On July 07, 2022, SoPa, through its wholly owned subsidiary, Incorporated Thoughtful Media Group (“Thoughtful Media” or “TMG”), a Nevada-based, Thailand-based, multi-platform premium digital video network (“MPN”)/Thailand-based social media influencer advertising platform, and focused on social commerce, acquired from AdActive Media Group , Inc., a Delaware corporation, (i) all of the outstanding capital stock of the CA subsidiary, and (ii) 99.75% of all of the outstanding share capital of the Thai subsidiary.
• Incorporating the acquired subsidiaries into its platform, TMG is a premium social commerce-focused MPN/social media digital video influencer advertising platform headquartered in Thailand with a presence in the United States. States, Vietnam and the Philippines. TMG plans to expand to Indonesia and Singapore in Q4 2022.
• The combined first quarter 2022 operating revenue and loss of the acquired subsidiaries totaled $1,312,986 and $84,582, respectively.
• The combined first quarter 2021 operating revenue and loss of the acquired subsidiaries totaled $1,265,053 and $114,032, respectively.
• The combined 2021 operating revenue and loss of the acquired subsidiaries totaled $5,655,795 and $1,173,022, respectively.
• The combined 2020 operating revenue and loss of the acquired subsidiaries totaled $5,928,800 and $899,933, respectively.
About Society Pass Inc.
Founded in 2018 as a digital-focused data marketing and loyalty ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for over 80% of SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila and Singapore, SoPa is an acquisition-driven e-commerce holding company that operates 6 interconnected verticals (loyalty , digital media, travel, telecommunications, lifestyle and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories through SEA.
Society Pass completed an initial public offering and began trading on the Nasdaq under the symbol SOPA in November 2021. SOPA shares were added to the Russell 2000 Index in December 2021.
SoPa acquires fast-growing e-commerce businesses and expands its user base through a robust ecosystem of products and services. SoPa integrates these complementary activities through its Society Pass loyalty platform and the circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to be launched on a large scale in early 2023. Members of the Society Pass loyalty program earn and redeem Society Points and receive personalized promotions based on SoPa’s data capabilities and understanding of consumer buying behavior. SoPa has over 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested over 2 years in building a proprietary IT architecture to scale and effectively support its consumers, merchants and acquisitions.
Society Pass leverages technology to tailor a more personalized experience for customers in the buying journey and to transform the entire retail value chain into SEA. SoPa operates Thoughtful Media Groupa Thailand-based premium multi-platform digital video network focused on social commerce; NusaTripa leading online travel agency based in Indonesia; Gorilla networksa Singapore-based Web3-enabled mobile blockchain network operator; Leflair.comVietnam’s leading lifestyle e-commerce platform; Pushkart.pha popular grocery delivery company in the Philippines; Handycart.vn, a leading Vietnam-based online restaurant delivery service; and Manganone of the leading local restaurant delivery services in the Philippines.
For more information, please see: http://thesocietypass.com/.
Caution 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 other than statements of historical facts included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, insofar as they relate to us or our management team, identify forward-looking statements. These forward-looking statements are based on the beliefs of management, as well as assumptions made by the management of the Company and information currently available to it. Actual results could differ materially from those contemplated by the forward-looking statements due to certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. 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 IPO of the Company filed with the SEC. The Company assumes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
As a loyalty and data marketing ecosystem, Society Pass operates multiple e-commerce platforms in its key SEA markets. Its business model focuses on analyzing user data through the planned launch of its Society Pass loyalty platform and circulation of its universal loyalty points, which seamlessly connects consumers and merchants across multiple categories of products and services to foster organic loyalty. Since its inception, SoPa has gathered over 1.6 million registered consumers and over 5,500 registered merchants/brands on its platform. It has invested over 2 years in building a proprietary IT architecture with state-of-the-art components to scale and effectively support its consumers, merchants, and acquisitions. Company Pass provides merchants with #HOTTAB Biz and #HOTTAB POS – a solution specialized point-of-sale technology, a comprehensive system for payment, loyal customer management, user profile analysis, and convenient financial support packages for small and medium-sized businesses. In addition, SoPa operates Leflair.com, the leading platform lifestyle e-commerce company in Vietnam, Pushkart.ph, a popular grocery delivery company in the Philippines, Handycart.vn, a leading online restaurant delivery service based in Hanoi, Vietnam, and Gorilla Networks , a Singapore-based blockchain/web3 enabled mobile virtual network operator. For more information, please visit: http://thesocietypass .com/ .
This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investment advice.
Dennis Nguyen: Founder, Chairman and CEO
See source version at newsdirect.com: https://newsdirect.com/news/filing-of-society-pass-nasdaq-sopa-form-8-ka-in-connection-of-acquisitions-of-adactive-media – ca-inc-and-thinkful-thailand-ltd-recognized-the-subsidiaries-acquired-in-2021-income-from-us-5-6-million-760247421