Business
Filing of Society Pass (Nasdaq: SOPA) Form 8-K/A in Connection of Acquisitions of AdActive Media CA, Inc and Thoughtful Thailand Ltd; Acquired Subsidiaries Recognised 2021 Revenues of US$5.6 million
--News Direct--New York, NY, 16 September 2022 – Society Pass Incorporated (Nasdaq: SOPA) (“SoPa” or the “Company”), Southeast Asia’s (“SEA”) leading
About this update from Society Pass Incorporated
[{"type":"text","content":"--News Direct--New York, NY, 16 September 2022 – Society Pass Incorporated (Nasdaq: SOPA) (“SoPa” or the “Company”), Southeast Asia’s (“SEA”) leading data-driven loyalty and e-commerce ecosystem, today announces the filing of Form 8-K/A with the Securities and Exchange Commission (“SEC”) in connection of acquisitions 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 SEC website) to view the Form 8-K/A filing.Summary Points:• On 07 July 2022, SoPa, through its wholly-owned subsidiary, Thoughtful Media Group Incorporated (“Thoughtful Media” or “TMG”), a Nevada corporation, a Thailand-based, a social commerce-focused, premium digital video Multi-Platform Network (“MPN”)/social media influencer advertising platform, acquired from AdActive Media Group, Inc., a Delaware corporation, (i) all of the outstanding capital stock of the CA Sub, and (ii) 99.75% of all of the outstanding capital stock of the Thailand Sub.• Integrating the Acquired Subsidiaries onto its platform, TMG is a social commerce-focused, premium digital video MPN/social media influencer advertising platform headquartered in Thailand with an operating presence in the US, Vietnam, and Philippines. TMG expects to expand to Indonesia and Singapore in 4Q 2022.• The combined 1Q 2022 revenues and loss from operations from the Acquired Subsidiaries totaled $1,312,986 and $84,582, respectively.• The combined 1Q 2021 revenues and loss from operations from the Acquired Subsidiaries totaled $1,265,053 and $114,032, respectively.• The combined 2021 revenues and loss from operations from the Acquired Subsidiaries totaled $5,655,795 and $1,173,022, respectively.• The combined 2020 revenues and loss from operations from the Acquired Subsidiaries totaled $5,928,800 and $899,933, respectively.About Society Pass IncFounded in 2018 as a digitally-focused loyalty and data marketing ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, SoPa is an acquisition-focused e-commerce holding company operating 6 interconnected verticals (loyalty, digital media, travel, teleco...