Society Pass Inc. Files Q3 2024 10-Q
Ticker: SOPA · Form: 10-Q · Filed: Nov 15, 2024 · CIK: 1817511
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
SOCIETY PASS INCORPORATED (SOPA) filed its 10-Q for Q3 2024. Check financials.
AI Summary
Society Pass Incorporated filed its 10-Q for the quarterly period ended September 30, 2024. The company, incorporated in Nevada, is a business services provider. Its principal executive offices are located in Newport Coast, California. The filing details its financial performance and operational status for the specified quarter.
Why It Matters
This filing provides investors with an update on Society Pass's financial health and operational progress for the third quarter of 2024, crucial for assessing its current business standing.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information that requires careful analysis to assess the company's risk profile.
Key Players & Entities
- SOCIETY PASS INCORPORATED (company) — Registrant
- September 30, 2024 (date) — Quarterly Period End Date
- 20241115 (date) — Filing Date
- Nevada (location) — State of Incorporation
- Newport Coast, CA (location) — Principal Executive Offices
FAQ
What is the filing date of this 10-Q report?
The filing date of this 10-Q report is November 15, 2024.
For which period is this 10-Q report filed?
This 10-Q report is filed for the quarterly period ended September 30, 2024.
What is the company's state of incorporation?
The company's state of incorporation is Nevada.
Where are the principal executive offices of Society Pass Incorporated located?
The principal executive offices of Society Pass Incorporated are located at 30 Gondoliers Bluff, Newport Coast, CA 92657.
What is the Commission File Number for Society Pass Incorporated?
The Commission File Number for Society Pass Incorporated is 001-41037.
Filing Stats: 4,768 words · 19 min read · ~16 pages · Grade level 19.7 · Accepted 2024-11-15 06:19:20
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share SOPA The Nasdaq Stock Market
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- $1,929.1938 — 12, 2010 Digital marketing Preferred: US$1,929.1938 Common: US$4,032.7871 100 % PT Tunas S
- $4,032.7871 — ting Preferred: US$1,929.1938 Common: US$4,032.7871 100 % PT Tunas Sukses Mandiri Indonesi
Filing Documents
- ea0221229-10q_society.htm (10-Q) — 3320KB
- ea022122901ex31-1_society.htm (EX-31.1) — 12KB
- ea022122901ex31-2_society.htm (EX-31.2) — 12KB
- ea022122901ex32-1_society.htm (EX-32.1) — 5KB
- 0001213900-24-098697.txt ( ) — 15995KB
- sopa-20240930.xsd (EX-101.SCH) — 99KB
- sopa-20240930_cal.xml (EX-101.CAL) — 62KB
- sopa-20240930_def.xml (EX-101.DEF) — 488KB
- sopa-20240930_lab.xml (EX-101.LAB) — 830KB
- sopa-20240930_pre.xml (EX-101.PRE) — 502KB
- ea0221229-10q_society_htm.xml (XML) — 3579KB
SIGNATURES
SIGNATURES 75 i PART I FINANCIAL INFORMATION Item 1. Financial Statements SOCIETY PASS INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30, 2024 AND DECEMBER 31, 2023 (Currency expressed in United States Dollars ("US$")) September 30, 2024 December 31, 2023 (Unaudited) (Audited) ASSETS Current assets: Cash and cash equivalents $ 4,220,371 $ 3,628,670 Restricted cash 54,100 95,312 Accounts receivable, net 764,254 1,338,170 Inventories 294,487 431,483 Contract assets 607,117 247,368 Deposits, prepayments and other receivables 3,807,758 2,207,774 Deferred tax assets 64,116 149,858 Total current assets 9,812,203 8,098,635 Non-current assets: Intangible assets, net 5,654,113 6,081,728 Goodwill 88,197 88,197 Construction in progress 9,826 — Plant and equipment, net 502,206 686,658 Right of use assets, net 917,836 1,407,956 Total non-current assets 7,172,178 8,264,539 TOTAL ASSETS $ 16,984,381 $ 16,363,174 LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities: Accounts payables $ 2,944,355 $ 1,690,651 Contract liabilities 1,326,384 1,265,753 Accrued liabilities and other payables 10,746,831 6,866,169 Due to related parties 2,388 9,900 Deferred tax liabilities 69,000 69,000 Operating lease liabilities 431,113 563,276 Loans 421,614 21,313 Total current liabilities 15,941,685 10,486,062 Non-current liabilities: Operating lease liabilities 489,375 847,950 TOTAL LIABILITIES 16,431,060 11,334,012 COMMITMENTS AND CONTINGENCIES Convertible preferred shares; $ 0.0001 par value, 5,000,000 shares authorized, 4,916,500 and 4,916,500 shares undesignated as of September 30, 2024 and December 31, 2023, respectively Series A shares: 10,000 shares designated; 0 and 0 Series A shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively — — Series B shares: 10,000 shares designated; 0 and 0 Series