SOCIETY PASS INC. Faces Delisting Concerns

TL;DR

SOCIETY PASS INC. is on notice for failing to meet listing standards - stock might be delisted.

AI Summary

SOCIETY PASS INCORPORATED filed an 8-K on December 12, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard, with the earliest event reported on December 6, 2024. The company is incorporated in Nevada and its principal executive offices are located in Carson City, Nevada.

Why It Matters

This filing indicates potential issues with Society Pass's continued listing on an exchange, which could impact its stock trading and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards is a significant negative event that can lead to the stock being removed from an exchange.

Key Players & Entities

• SOCIETY PASS INCORPORATED (company) — Registrant
• Nevada (jurisdiction) — State of incorporation
• December 6, 2024 (date) — Earliest event reported
• December 12, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share SOPA The Nasdaq Stock Mar
• $1.00 — mmon stock had closed below the minimum $1.00 per share requirement for continued lis

Filing Documents

• ea0224395-8k_society.htm (8-K) — 29KB
• 0001213900-24-108431.txt ( ) — 202KB
• sopa-20241206.xsd (EX-101.SCH) — 3KB
• sopa-20241206_lab.xml (EX-101.LAB) — 33KB
• sopa-20241206_pre.xml (EX-101.PRE) — 22KB
• ea0224395-8k_society_htm.xml (XML) — 4KB

01 Notice of Delisting or Failure to Satisfy

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On December 6, 2024, Society Pass Incorporated (the "Company") received a letter (the "Nasdaq Staff Letter") from The Nasdaq Stock Market LLC ("Nasdaq") indicating that, for the last thirty (30) consecutive business days, the bid price for the Company's common stock had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until June 4, 2025, to regain compliance. The letter states that the Nasdaq staff will provide written notification that the Company has achieved compliance with Rule 5550(a)(2) if at any time before June 4, 2025, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of ten (10) consecutive business days. The Nasdaq Staff Letter has no immediate effect on the listing or trading of the Company's common stock. The Company intends to monitor the bid price of its common stock and consider available options if its common stock does not trade at a level likely to result in the Company regaining compliance with Nasdaq's minimum bid price rule by June 4, 2025. If the Company does not regain compliance with Rule 5550(a)(2) by June 4, 2025, the Company may be eligible for an additional 180 calendar day compliance period. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and would need to provide written notice of its intention to cure the deficiency during the second compliance period, for example, by effecting a reverse stock split, if necessary. However, if it appears to the Nasdaq staff that the Compa

Forward-Looking Statements

Forward-Looking Statements This current report contains "forward-looking "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar references to future periods. Examples of forward-looking statements in this current report include, without limitation, statements regarding the Company's intent to monitor the bid price of its common stock and consider available options, including a reverse stock split; and the Company's eligibility for an additional 180 calendar day compliance period. Forward-looking statements are statements that are not historical facts, nor assurances of future performance. Instead, they are based on the Company's current beliefs, expectations and assumptions regarding the future of its business, future plans, strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties, and actual results may differ materially from those set forth in the forward-looking statements. Important factors that could cause actual results to differ include, without limitation, there can be no assurance that the Company will meet the bid price requirement during any compliance period or otherwise in the future, otherwise meet Nasdaq compliance standards, that Nasdaq will grant the Company any relief from delisting as necessary or whether the Company can agree to or ultimately meet applicable Nasdaq requirements for any such relief, and the other important factors described under the caption "Risk Factors" in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on April 15, 2024 and its other filings with the SEC. Any forward-looking

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: December 12, 2024 2

View Full Filing

View this 8-K filing on SEC EDGAR