Society Pass Incorporated (Nasdaq: SOPA) Nasdaq delinquency notification letter (the “Notice”)
Rhea-AI Summary
Society Pass (Nasdaq: SOPA) received a Nasdaq delinquency notification for failing to timely file its Form 10-K for the period ended December 31, 2025. The company has until June 15, 2026 to submit a compliance plan or expects to file within the 60-day cure period.
If Nasdaq accepts a plan, the company could have until October 12, 2026 to regain compliance; failure to regain compliance could lead to delisting.
Positive
- Notice has no immediate effect on listing
- Company expects to file Form 10-K within 60 days
- 60-day deadline to submit plan: June 15, 2026
- Potential Nasdaq extension to October 12, 2026 if plan accepted
Negative
- Form 10-K for year ended Dec 31, 2025 was not timely filed
- Failure to regain compliance could result in delisting
- Compliance plan required within 60 days or appeal process follows
News Market Reaction – SOPA
On the day this news was published, SOPA declined 9.44%, reflecting a notable negative market reaction. Argus tracked a trough of -13.3% from its starting point during tracking. Our momentum scanner triggered 9 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $718K from the company's valuation, bringing the market cap to $6.89M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
SOPA fell about 0.71% while notable peers showed mixed moves: ELWS up 9.46%, OBLG up 12.5%, QH up 25.33%, SGN up 6.57%, and FTFT down 13.24%. Momentum scanner flags peers like FTFT and IDAI moving higher, but without related news and not in the same direction as SOPA, suggesting today’s delinquency letter is company-specific rather than a broad sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 20 | Regulatory inquiries | Negative | -5.4% | Response to Nasdaq and SEC inquiries after NusaTrip trading suspension. |
| Feb 11 | Equity offering | Negative | -29.6% | Pricing of $3.0M best-efforts common stock offering at $0.55 per share. |
| Feb 11 | Strategic partnership | Positive | -19.5% | Collaboration with QiYouJi to expand NusaTrip hotel distribution in China. |
| Feb 11 | Tech collaboration | Positive | -19.5% | Partnership with Tourmind to co-develop B2B travel technology solutions. |
| Feb 10 | Platform integration | Positive | -28.5% | TripNinja integration to enhance NusaTrip’s complex itinerary booking. |
Recent SOPA news, including offerings, partnerships, and regulatory issues, has often been followed by negative price reactions, even when the headlines were operationally positive.
Over the last few months, SOPA has balanced growth initiatives with financing and regulatory challenges. On Feb 10–11, 2026, multiple collaborations aimed at expanding NusaTrip’s travel technology and hotel distribution were announced, yet shares fell double digits after each. A $3.0 million equity offering on Feb 11, 2026 also triggered a steep decline. Separately, trading in majority-owned NusaTrip remained halted after regulatory inquiries, and recent SEC filings highlight Nasdaq listing compliance risks. Today’s delinquency notice on the 2025 Form 10-K extends that pattern of listing-related pressure.
Market Pulse Summary
The stock moved -9.4% in the session following this news. A negative reaction despite this notice having no immediate delisting effect would fit SOPA’s pattern of selling off on regulatory and financing headlines. Prior events in early 2026, including a $3.0 million offering and multiple partnerships, saw double-digit declines. With shares already far below the $6.28 52-week high and under the $1.00 Nasdaq bid requirement, concerns about prolonged non-compliance and cumulative legal and filing risks could reinforce downside pressure.
Key Terms
nasdaq listing rule 5250(c)(1) regulatory
form 10-k regulatory
securities and exchange commission regulatory
listing qualifications staff regulatory
nasdaq hearings panel regulatory
AI-generated analysis. Not financial advice.
NEW YORK, April 21, 2026 (GLOBE NEWSWIRE) -- Society Pass Incorporated (Nasdaq: SOPA) (the “Company”), Southeast Asia’s (SEA) next generation e-commerce ecosystem announced the received notice of delinquency letter from Nasdaq.
On April 16, 2026, Society Pass Incorporated (the “Company”) received a delinquency notification letter (the “Notice”) from the Listing Qualifications Staff (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) due to the Company’s non-compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) as a result of the Company’s failure to timely file its Annual Report on Form 10-K for the period ended December 31, 2025 (the “Filing”). The Listing Rule requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the “SEC”).
This Notice has no immediate effect on the listing of the Company’s securities on Nasdaq. However, if the Company fails to timely regain compliance with the Rule, the Company’s securities will be subject to delisting from Nasdaq.
The Notice provides that the Company has 60 calendar days, or June 15, 2026, to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rule. If Nasdaq accepts the Company’s plan, then Nasdaq may grant the Company up to 180 calendar days from the Filing’s due date, or until October 12, 2026, to regain compliance. If Nasdaq does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel.
The Company is working diligently to complete its Form 10-K and expects to file its Form 10-K within the 60-day period described above, which would eliminate the need for the Company to submit a formal plan to regain compliance.
About Society Pass Incorporated
Founded in 2018 as an e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than
Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021.
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
X at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.
Cautionary Note Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning. Forward-looking statements represent Society Pass Incorporated’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including the trading price and volatility of Society Pass Incorporated’s common stock and risks relating to Society Pass Incorporated’s business.
Media Contact:
Raynuald LIANG
Chief Executive Officer
ray@thesocietypass.com
