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Society Pass (SoPa) Files 1st Form 10-Q; Building Sales Momentum After Recent Launch of LeFlair Lifestyle E-Commerce Platform and IPO Capital Raise

Singapore – (NewMediaWire) – December 13, 2021 – Society

Pass Incorporated (Nasdaq: SOPA) (“SoPa” or the “Company”), 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 infrastructure 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.

About Society Pass

SoPa’s customer loyalty and

analytics platform has onboarded hundreds of thousands of registered consumers.

SoPa provides merchants with SoPa.asia – an online commerce platform for users,

alongside with #HOTTAB Biz – a convenient order management app for business

partners on SoPa.asia, and #HOTTAB POS – a specialized POS technology solution,

a comprehensive system for payment, loyal customer management, user’s profile analytics,

and convenient financial support packages for small and medium-sized

enterprises. All tools offered above will allow businesses to attract and

retain customers through personalized interaction based on analytics with a

high profit margin. SoPa also operates www.leflair.com, Vietnam’s leading

lifestyle e-commerce platform.

For more information, please check

out: http://thesocietypass.com/

Forward Looking Statements

The information contained herein

may contain “forward‐looking statements.” Forward‐looking statements reflect

the current view about future events. When used in this press release, the

words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,”

“plan,” or the negative of these terms and similar expressions, as they relate to

us or our management, identify forward‐looking statements. Such statements

include, but are not limited to, statements contained in this press release

relating to the view of management of the Company concerning its business

strategy, future operating results and liquidity and capital resources outlook.

Forward‐looking statements are based on the Company’s current expectations and

assumptions regarding its business, the economy and other future conditions.

Because forward–looking statements relate to the future, they are subject to

inherent uncertainties, risks and changes in circumstances that are difficult

to predict. The Company’s actual results may differ materially from those

contemplated by the forward‐looking statements. They are neither statements of

historical fact nor guarantees of assurance of future performance. We caution

you therefore against relying on any of these forward‐looking statements.

Factors or events that could cause the Company’s actual results to differ may

emerge from time to time, and it is not possible for the Company to predict all

of them. The Company cannot guarantee future results, levels of activity,

performance or achievements. Except as required by applicable law, including

the securities laws of the United States, the Company does not intend to update

any of the forward‐looking statements to conform these statements to actual

results.

Contacts:

SoPa:

Raynauld Liang, CFO

ray@thesocietypass.com

 

Investor Relations:

Chuck Harbey, Managing Director,

Corporate Advisory

PCG Advisory

charbey@pcgadvisory.com

(917) 553-3953

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The post Society Pass (SoPa) Files 1st Form 10-Q; Building Sales Momentum After Recent Launch of LeFlair Lifestyle E-Commerce Platform and IPO Capital Raise first appeared on Smallcaps Daily.

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