Head’s Up! Is Something Brewing at Society Pass?
We originally worked with Society Pass (SOPA) in January of 2023 after a spectacular IPO debut.
They went public selling 2,888,889 shares of common stock, at a price of $9.00 per share. Then the stock ran to $52 per share ($77 intraday). Incredible. Things then unraveled – for no good reason we could find – and we showed up when it fell all the way back down to $0.96.
The short story back then was that we had found an Incubator of technology based (sourced, or originated, etc.) in South East Asian – home to some of the top technology talent in the entire world. In the late 90’s and early 2000’s, our Incubator ideas gained $100’s of millions in value for shareholders (start to peak). So we were “all-aboard” ready, willing and able – hoping they would find and incubate the next Tik-Tok or Temu.
A big part of the incubator model was to #1 find start-up technology, #2 acquire a stake by funding the technology and grooming the management to the next level, and #3, spinning-off the company into its own public listing or have it taken over by one of the giants. Wash, rinse and repeat. It’s one of our favorite business strategies. Throw in the SE Asia angle, and this was something to ponder.
Adding Society Pass (SOPA) $0.96 to the Watch List
However, from the day we got involved they excelled at #1, they excelled at #2 – but when it came to #3, crickets. And the stock continued to drift lower and lower.
Up Until Now That Is.
About a year ago things got interesting when they stated in a press release, “..gearing up for the upcoming IPOs of its key subsidiaries, NusaTrip.com and Thoughtful Media Group.”
Wait a minute, our dream is finally coming true?
Society Pass Inc. Bolstering Subsidiaries Ahead of IPOs to Drive Growth and Customer Engagement
That was released a little more than a year ago in June of 2024. A few months later, the stock took off. We assume because investors assumed the IPO spinoffs were weeks away. Note, IPO’s are never weeks away lol. But some investors made bank, even without the IPO’s.
(PS, this is an idea for sophisticated investors only, who can read balance sheets and the like. If you happen to consider yourself sophisticated – no proof is required – please do yourself a favor and read about this idea. This could be huge.)
First a Few Facts. Here’s What We Know Now!
Fact #1. There are 5.2 million shares outstanding. 5,361,919 shares to be exact. After a small pending share registration.
Fact #2. At $1.20 the market capitalization is $6,240,000
Fact #3. As of March 31st, they had $7,092,266 in cash and equivalents. Wait – what?
Fact #4. They had shareholder equity of -$877,000.
Fact #5. They own 14 million shares of NusaTrip (proposed symbol NUTR). Wait, what-what?
Please view these ‘facts’ in the most recent quarterly.
Please view NusaTrip holdings in NUTR S-1 SEC filings. Page 87. (see late calendar update below 8-14-2025)
Of course filings with the SEC to take a company public, takes time. Could be months, could be years, could be never (in this case nearly a year). And we’ve seen some of the best laid plans, get derailed by sudden and unexpected ‘unfavorable market conditions.’
Note: WE MAKE NO predictions, projections, or assumptions as to if, or when, NusaTrip or Thoughtful Media achieves public company status or at what price. None.
But when we saw news of the actual filing, we immediately called the company to get involved again. Internally, we still understood that there were no guarantees as to IF OR WHEN (been there done that), but just in case we didn’t want to be sitting on the sidelines.
NusaTrip IPO Registration Document (S-1)
Also note: SOPA is currently shy of NASDAQ’s $2.5 million minimum shareholder equity. Which is why it may be trading so cheap.
This is where the ‘only for sophisticated investors’ statement comes into play. To maintain its listing on NASDAQ, they need to have at least $2,500,000 in shareholder equity (SE). SE is a company’s net worth, or its total assets, minus its total liabilities. It is equal to the total dollar amount that would be returned to the shareholders if the company were liquidated and all its debts were paid off. 8K on shareholder equity.
So if your sophisticated, and make an assumption it does goes public (call your broker to see where it is on the calendar) and then come up with a price – call your accountant and ask, “if NusaTrip goes public at $XX, how would this affect the Society Pass SE?” Then act accordingly as a sophisticated investor would!
LIVE QUOTE
Our favorite chartist says if SOPA breaks above $1.66, it looks like blue skies ahead to him. We tend to agree.
Volume has been light, so for now, this is our secret…
WALL STREET
Society Pass at one point had 6 Wall Street firms covering it. It now has one (Ascendiant Capital), two if you include us!
Ascendiant Capital Markets: Sees Growth Over the Next Year with 2 IPOs Providing Key Catalysts in 2025
LATE IPO CALENDAR UPDATE (8/14/2025)
NASDAQ IPO SITE
For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.
OTCMarkets at https://www.otcmarkets.com/stock/SOPA/disclosure
DISCLAIMER
Cautionary Note Concerning Forward-Looking Statements
This press release may include “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 fact 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, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of 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 control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. Client, SOPA has retained Institutional Analyst Inc, (IAI) for ongoing news coverage and reporting with a combination of equity and cash totaling for nine-thousand dollars per month. See upcoming report for full disclosure and disclaimer details. Neither IAI or the Company undertakes an obligation to update these statements for revisions or changes after the date of posts, except as required by law.
Media Contact:
Raynauld Liang
Chief Executive Officer
ray@thesocietypass.com
