SOCIETY PASS INCORPORATED.

Listed Company

SOPACIK 0001817511NasdaqEmerging GrowthServices-Business Services, NecNevadaFY ends Dec 31

Period

FY 2024

Revenue

—

Net Income

$-10.23M

Total Assets

$21.28M

Equity

$-2.14M

Shares Out

6.11M

Op. Cash Flow

$2.47M

Business

SOCIETY PASS INCORPORATED operates and acquires fintech and e-commerce platforms and mobile applications to build a digital ecosystem and merchant-agnostic loyalty platform in Southeast Asia. It offers a loyalty platform (Society Points), lifestyle e-commerce (Leflair), telecommunications services (Gorilla), digital media and marketing (Thoughtful Media Group), travel booking (Nusatrip) and food delivery and related fintech services. The company’s key business segments are loyalty, lifestyle, telecommunications, digital media and travel, operated through wholly or majority-owned subsidiaries. It markets to consumers and merchants across Singapore, Vietnam, Indonesia, the Philippines and Thailand via online platforms, mobile apps and strategic partnerships.

Summary from filing dated 2025-04-16

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31
Total revenue	7	8	—	—	—
Total cost of revenue	−5	−6	−5	−710,683	−88,664
Gross income	2	2	966,973	−190,798	−36,211
Sales and marketing expenses	−341,461	−577,931	−997,784	−327,195	−3,125
Software development costs	−54,644	−55,645	−72,999	−95,809	−165,514
General and administrative expenses	−11	−20	−31	−33	−4
Total operating expenses	−11	−20	−35	−34	−4
Loss from operations	−9	−18	−34	−34	−4
JV income	—	7,638	2,442	—	—
Gain on early lease termination	—	1,064	2,166	2,454	—
Gain on disposal of plant and equipment	205	1,438	—	—	—
Impairment loss of goodwill	−6,348	—	—	—	—
Impairment loss of intangible assets	−135,000	−276,000	—	—	—
Interest income	13,447	160,702	84,116	—	—
Interest expense	−152,144	−235	—	—	—
Loss on disposal of a subsidiary	−75	—	—	—	—
Provision for loss on litigation settlement	−818,352	—	—	−550,000	—
Waiver of loan payable	43,835	192,716	—	—	—
Write-off of plant and equipment	−75,894	−386,160	—	—	—
Other income	294,900	185,652	101,010	5,906	9,759
Total other expense, net	−835,426	−113,185	144,665	−641,401	−69,409
Loss before income taxes	−10	−18	−34	−35	−4
Income taxes	−80,539	−25,315	−3,631	−11,136	−8,332
NET LOSS	−10	−18	−34	−35	—
NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST	−10,019	35,210	−228,915	−99,595	—
NET LOSS ATTRIBUTABLE TO SOCIETY PASS INCORPORATED	−10	−18	−34	−35	−4
Foreign currency translation adjustment	528,422	−274,604	106,051	—	—
COMPREHENSIVE LOSS	−10	−18	−34	−35	−4
Net (loss) income attributable to non-controlling interest	−10,019	35,210	−228,915	−99,595	—
Foreign currency translation adjustment attributable to non-controlling interest	13,376	24,052	−4,816	—	—
Comprehensive loss attributable to Society Pass Incorporated	−10	−18	−34	—	—
Basic (in Dollars per share)	−3.45	−9.39	−1.38	−3.68	−0.56
Diluted (in Dollars per share)	−3.45	−9.39	−1.38	−3.68	−0.56
Basic (in Shares)	3	2	24	9	7
Diluted (in Shares)	3	2	24	9	7

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31
Cash and cash equivalents	8	4	19	23	506,666
Restricted cash	53,900	95,312	72,350	0	—
Accounts receivable, net	1	1	951,325	52,588	1,897
Inventories	157,734	431,483	310,932	221,068	0
Contract assets	333,188	247,368	20,310	—	—
Deposits, prepayments and other receivables	5	2	—	—	—
Total current assets	14	8	23	30	569,095
Intangible assets, net	6	6	7	4	7
Goodwill	81,849	88,197	—	—	—
Plant and equipment, net	407,871	686,658	706,038	57,035	18,069
Right of use assets, net	751,672	1	2	627,968	79,109
Deferred tax assets	58,350	149,858	—	—	—
Total non-current assets	7	8	10	6	7
TOTAL ASSETS	21	16	33	35	8
Accounts payables	3	2	1	261,907	54,256
Contract liabilities	1	1	1	25,229	18,646
Accrued liabilities and other payables	18	7	8	—	—
Operating lease liabilities	360,621	563,276	467,938	218,077	36,752
Loans	113,041	21,313	28,164	—	—
Total current liabilities	23	10	12	2	3
Operating lease liabilities	392,754	847,950	1	411,053	46,453
Deferred tax liabilities	69,000	69,000	69,000	0	—
Total non-current liabilities	461,754	916,950	13	3	3
TOTAL LIABILITIES	24	11	13	—	—
COMMITMENTS AND CONTINGENCIES	—	—	—	—	—
Common shares; $0.0001 par value, 6,333,333 shares authorized; 3,718,030 and 2,217,491 shares issued and outstanding as of December 31, 2024 and 2023, respectively	372	222	2,708	1,973	742
Subscription receivable	−233,000	—	—	—	—
Additional paid-in capital	108	106	101	80	2
Less: Preferred stock held in treasury, at cost; 150,000 and 0 shares at December 31, 2024 and 2023, respectively	−15	—	—	—	—
Less: Common shares held in treasury, at cost; 51,902 and 74,107 shares December 31, 2024 and 2023, respectively	−54,928	−785,525	—	—	—
Accumulated other comprehensive income (loss)	272,917	−242,129	56,527	−54,340	−55,236
Accumulated deficit	−110	−99	−81	−47	−13
Total equity (deficit) attributable to Society Pass Incorporated	−2	5	20	32	−10
Non-controlling interest	−273,896	−277,253	−336,515	−102,784	—
TOTAL SHAREHOLDERS (DEFICIT) EQUITY	−2	5	20	32	−10
TOTAL LIABILITIES AND SHAREHOLDERS (DEFICIT) EQUITY	21	16	33	35	8

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31
Bad debts	102,677	2,189	—	—	—
Write-off of inventory	55,112	—	—	—	—
Depreciation and amortization	651,654	1	3	—	—
Gain from early lease termination	—	−1,064	−2,166	—	—
Gain on disposal of plant and equipment	−205	−1,438	—	—	—
Write-off of plant and equipment	75,894	386,160	—	—	—
Treasury stock	—	145,000	—	—	—
Stock based compensation for services	804,733	4	8	—	—
Deferred tax assets	91,508	−149,858	—	—	—
Accounts receivable	1,208	−167,307	168,953	−50,691	8,871
Inventories	178,936	550,674	−85,516	−221,068	−5,428
Deposits, prepayments and other receivables	−3	592,899	—	—	—
Contract assets	−108,580	−227,058	−20,310	—	—
Contract liabilities	277,609	−260,518	929,861	6,583	−1,197
Accounts payables	1	412,847	−862,215	207,651	3,472
Accrued liabilities and other payables	12	−3	—	—	—
Due to related parties	−1,332	180,305	−1	—	—
Right of use assets	481,516	569,508	387,163	—	—
Operating lease liabilities	−483,083	−643,043	−579,997	−74,278	−22,957
Net cash provided by (used in) operating activities	2	−14	−14	−11	−1
Purchase of intangible assets	—	−143,771	—	—	—
Purchase of plant, and equipment	−29,959	−219,214	−566,266	−46,837	—
Purchase of subsidiary	—	−10,000	−820,000	—	—
Cash from purchase of subsidiary and business operation	—	32,739	2	—	—
Net cash used in investing activities	−29,959	−340,246	177,393	−246,837	—
Proceeds from private placements	250,000	—	—	—	—
Proceeds from loans	885,020	—	—	—	—
Repayment of loans	−795,322	—	−632,876	—	—
Repurchase of common share	—	−785,525	—	—	—
Proceed from the sale of treasury stock	1	—	—	—	—
Net cash provided by (used in) financing activities	1	−785,525	10	34	1
Effect on exchange rate change on cash and cash equivalents	39,490	−245,449	−167,980	−4,871	−60,256
NET CHANGE IN CASH AND CASH EQUIVALENTS	4	−15	−4	23	−99,825
Cash paid for interest	151,524	235	—	110	—
Cash paid for income tax	40,065	7,225	—	—	—
Shares issued to acquire subsidiary	—	62,500	—	—	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro