Society Pass Files 1st Form 10-Q; Building Sales Momentum

SINGAPORE, Dec 2021 – (ACN Newswire) – Society Pass Incorporated (Nasdaq: SOPA), a leading, Southeast Asian data-driven loyalty platform, today announced the filing of its first quarterly Form 10-Q with the Securities and Exchange Commission since completing its initial public offering on November 9, 2021. The filing is for the three month period ended September 30, 2021, during which Society Pass launched Leflair, its lifestyle e-commerce platform that markets and sells products in three verticals including Fashion & Accessories, Beauty & Personal Care, and Home & Lifestyle.

Dennis Nguyen, CEO of Society Pass, commented, “As you can see from the revenues from our Leflair business unit in just the final three weeks of September, the recent launch of Leflair into the Vietnam marketplace in early September has gone extremely well and sales momentum is building every day.

Supported by the completion of our IPO that raised gross proceeds of $28.125 million in early November, we believe that Society Pass is well-positioned to execute its strategic plans. These include increasing the marketing spend for our platforms, rolling out our Society Points loyalty program, investing in additional infrastructures such as data centers, call centers, and warehouses, and funding acquisitions of e-commerce companies in Southeast Asia (SEA) and South Asia.”

For Society Pass’ complete financial results for the period ended September 30, 2021, see the Company’s quarterly Form 10-Q filed with the Securities and Exchange Commission on December 9, 2021.