Society Pass (Nasdaq: SOPA) Receives Nasdaq Delinquency Notification Letter Over Late Annual Report Filing
Key Points for Investors
- Society Pass Incorporated (SOPA) has received a delinquency notification letter from Nasdaq due to its failure to timely file its Annual Report on Form 10-K for the period ended December 31, 2025.
- This notice was issued by the Listing Qualifications Staff of Nasdaq on April 16, 2026.
- The company is currently non-compliant with Nasdaq Listing Rule 5250(c)(1), which mandates timely filing of all required periodic financial reports with the SEC.
- The notification does not have an immediate effect on the listing of SOPA’s securities on Nasdaq, but failure to resolve the delinquency could result in delisting.
- SOPA has until June 15, 2026 (60 calendar days) to submit a plan to regain compliance with the listing rule.
- If the plan is accepted by Nasdaq, SOPA may be granted an additional extension—up to 180 days from the filing due date (until October 12, 2026)—to file the outstanding report.
- If Nasdaq rejects the compliance plan, SOPA will have the right to appeal the decision to a Nasdaq Hearings Panel.
- The company is working diligently to complete and file the Form 10-K within the initial 60-day window, which would eliminate the need for a formal compliance plan submission.
Details and Potential Shareholder Impact
This development is particularly important for shareholders and potential investors, as it signals a regulatory compliance issue that could impact the company’s Nasdaq listing status. Delisting from Nasdaq would be a significant negative event, potentially causing a sharp decline in share value due to reduced liquidity and investor confidence.
The company emphasized that the notification letter itself does not result in delisting or any immediate changes to market trading of SOPA shares. However, the risk remains if the company fails to address the compliance issue within the prescribed timeframe, either by timely filing the overdue report or by presenting an acceptable plan to Nasdaq.
Price Sensitivity: The receipt of a Nasdaq delinquency notice is a material event and typically considered price-sensitive information. Investors should monitor the situation closely, as the company’s ability to remedy the filing delinquency will influence market sentiment. Persistent delays or failure to regain compliance could lead to increased volatility or a decline in SOPA’s share price.
Operational Context: Society Pass Incorporated, founded in 2018, operates as a next-generation e-commerce ecosystem across key Southeast Asian markets including Vietnam, Indonesia, Philippines, Singapore, and Thailand. The company is involved in digital media, travel, and lifestyle verticals, leveraging technology to enhance the customer purchase journey and retail value chain. SOPA completed its IPO and began trading on Nasdaq in November 2021.
As of the date of this notice, SOPA maintains its offices in major Southeast Asian cities and continues to expand its presence in the region.
Next Steps and Company Outlook
- SOPA management is actively working to finalize and submit the overdue Form 10-K within the 60-day period, aiming to resolve the compliance issue without the need for further extensions or hearings.
- Investors are encouraged to monitor further announcements from the company regarding the status of the filing and Nasdaq’s response to any compliance plan, should it be submitted.
Contact Information
Media Contact:
Raynuald Liang, Chief Executive Officer
Email: [email protected]
For more information, visit the company’s official website: https://www.thesocietypass.com
Disclaimer
This article contains forward-looking statements regarding Society Pass Incorporated’s regulatory status and future plans. Actual results may differ due to risks and uncertainties, including but not limited to market conditions and the company’s ability to address compliance issues in a timely manner. Investors are advised to perform their own due diligence and consult with financial professionals before making any investment decisions based on this information.
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