SOCIETY PASS INC. Faces Delisting Concerns
Ticker: SOPA · Form: 8-K · Filed: May 16, 2024 · CIK: 1817511
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: SOPAS
TL;DR
SOPASS might get delisted, check listing status.
AI Summary
SOCIETY PASS INCORPORATED filed an 8-K on May 16, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The filing indicates a potential transfer of listing, with the earliest event reported on May 15, 2024. The company is incorporated in Nevada and its principal executive offices are located in Carson City, Nevada.
Why It Matters
This filing signals potential issues with the company's stock exchange listing, which could impact its liquidity and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards indicates significant financial or operational distress, posing a substantial risk to investors.
Key Players & Entities
- SOCIETY PASS INCORPORATED (company) — Registrant
- May 15, 2024 (date) — Earliest event reported
- May 16, 2024 (date) — Date of report
- Nevada (jurisdiction) — State of incorporation
- Carson City, Nevada (location) — Principal executive offices
FAQ
What specific listing rule or standard has SOCIETY PASS INCORPORATED failed to satisfy?
The filing does not specify the exact rule or standard that has not been met, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the potential consequence of failing to satisfy listing standards?
The consequence is a potential delisting or transfer of listing from the current stock exchange.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on May 15, 2024.
Where are SOCIETY PASS INCORPORATED's principal executive offices located?
The principal executive offices are located at 701 S. Carson Street, Suite 200, Carson City, Nevada 89701.
What is the company's telephone number?
The registrant's telephone number is (+65) 6518 - 9385.
Filing Stats: 503 words · 2 min read · ~2 pages · Grade level 12.3 · Accepted 2024-05-16 09:00:11
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share SOPA The Nasdaq Stock Mar
- $1.00 — sdaq to maintain a minimum bid price of $1.00 per share (the "Minimum Bid Price Requi
Filing Documents
- ea0206355-8k_society.htm (8-K) — 24KB
- 0001213900-24-044018.txt ( ) — 197KB
- sopa-20240515.xsd (EX-101.SCH) — 3KB
- sopa-20240515_lab.xml (EX-101.LAB) — 33KB
- sopa-20240515_pre.xml (EX-101.PRE) — 22KB
- ea0206355-8k_society_htm.xml (XML) — 4KB
01. Notice of Delisting or Failure
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously disclosed, on May 25, 2023, Society Pass Incorporated (the "Company") received a letter from Nasdaq indicating that it was not in compliance with Nasdaq Listing Rule 5550(a)(2), which requires companies listed on Nasdaq to maintain a minimum bid price of $1.00 per share (the "Minimum Bid Price Requirement"), and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the Minimum Bid Price Requirement exists if the deficiency continues for a period of 30 consecutive trading days. As of May 14, 2024, the closing bid price of common stock of the Company has been over $1.00 per share for a minimum of 10 consecutive business days. On May 15, 2024, Nasdaq confirmed that the Company had regained compliance with Rule 5550(a)(2) and that this matter is now closed. 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Society Pass Incorporated By: /s/ Raynauld Liang Name: Raynauld Liang Title: Chief Executive Officer Date: May 16, 2024 2