Society Pass Incorporated - SOPA STOCK NEWS

Ascendiant Capital has released an update on Society Pass (NASDAQ: SOPA), highlighting its fiscal Q4 2023 results and estimating adjusted revenue of $10 million. The report emphasizes strong economic expansion, rising urbanization, and increasing mobile technology adoption as key growth drivers. Society Pass plans to spin off two businesses, Thoughtful Media Group and NusaTrip, via IPOs in 2024, which are expected to add significant value for shareholders. Ascendiant maintains a BUY rating for SOPA but has lowered the 12-month price target from $41.25 to $21. CEO Raynauld Liang expressed optimism about future growth and the recent compliance with Nasdaq.

Society Pass (NASDAQ: SOPA), an e-commerce ecosystem in Southeast Asia, announced that it has regained compliance with Nasdaq's Listing Rule 5550(a)(2). This rule mandates a minimum bid price of $1.00 per share. The company's stock maintained this price for 10 consecutive business days, leading Nasdaq to close the prior bid price deficiency matter.

Society Pass Inc. (NASDAQ: SOPA) secured $40 million in financing from Strattners Bank SA to support potential public offerings of subsidiaries, enabling the company to monetize intrinsic value and fund future acquisitions. The first advance notice to Strattners FZCO involves issuing 1,000,000 shares at $0.18 per share, with the option to sell up to $40,000,000 of common stock. CEO Raynauld Liang emphasizes collaboration, long-term growth, value creation, and maximizing shareholder value through this flexible financing arrangement.

Society Pass Inc. (Nasdaq: SOPA) announced a 1-for-15 reverse stock split to regain compliance with Nasdaq rules, effective May 1, 2024. Shareholders will see a consolidation of shares with no change in ownership percentage.

Society Pass Inc. (SoPa), a leading e-commerce ecosystem in Southeast Asia (SEA), has issued its first advance notice to Strattners Bank, drawing down on a financing line to support its growth plans. The company secured an equity line of up to $40 million for potential public offerings of its subsidiaries. SoPa will issue 1,000,000 shares priced at $0.18 per share to Strattners FZCO. The financing agreement allows SoPa to sell up to $40,000,000 of its common stock to Strattners, with efficient capital deployment strategies in place.

Society Pass Inc. (Nasdaq: SOPA) is a data-driven, loyalty, fintech, and e-commerce ecosystem company in Southeast Asia. SOPA has achieved annual triple digit revenue growth over the past four years through its innovative business model and diversification strategy. Recent analyst recommendations have been bullish, emphasizing the company's potential growth, profitability, and positive EBITDA forecasts for 2024. SOPA recently executed a transformative structured financing agreement with Strattners, securing access to $40 million in funding, positioning the company for substantial expansion and providing avenues for growth and value creation.

Society Pass Inc. (Nasdaq: SOPA) is a high-growth acquisitive internet services company offering advertising, travel, retail, telecom, and fintech services in Southeast Asia. Litchfield Hills forecasts positive EBITDA as SOPA shifts from its early growth strategy to a focus on profitability under its new CEO. The SEA market is the world's fastest-growing region due to a movement away from China, young, tech-savvy populations, and business-friendly governments. SOPA's main subsidiaries include Thoughtful Media Group, NusaTrip, Next Generation Retail, Gorilla Mobile, and Society Points. Litchfield Hills values TMG at roughly $88 million and NusaTrip at roughly $65 million. SOPA is expected to spin off both TMG and NusaTrip via Nasdaq IPOs in 1H 2024, generating significant shareholder value. Ray Liang, the Co-Founder and former CFO, was promoted to CEO in October 2023 and has adopted a strategy focusing on profitability. SOPA's revenue is quickly growing, and EBITDA nears breakeven, with positive EBITDA projected in 2025. Litchfield Hills values SOPA at $123 million based on an EV/Revenue multiple of 4.8 times its estimated 2025 revenue estimate of $25.5 million.

Society Pass Inc. (Nasdaq: SOPA) and Thoughtful Media Group Inc (TMG) announce Greenridge Global LLC initiating equity research coverage on TMG. TMG aims to be SEA's premier digital advertising firm, with a valuation of $60 million and plans for a 2024 Nasdaq IPO. The company boasts a client list of over 500 brands and is part of the Society Pass ecosystem, targeting middle to upper class consumers in SEA.

Society Pass Inc. (Nasdaq: SOPA) announces equity research update by Ascendiant Capital Markets LLC. Ascendiant maintains a positive outlook due to SoPa's high growth prospects and large upside opportunities. 3rd Quarter 2023 Results show improvement Y-O-Y with revenues reaching $2.3 million (+11% y-o-y) and a strong balance sheet with $8 million in cash and no debt. The company plans to spinoff two of its businesses in IPOs in 2024, and there has been a management change with Raynauld Liang appointed as the new CEO.