secwatch.observer — SEC 8-K summary
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Issuer:     SOCIETY PASS INCORPORATED. (SOPA)
CIK:        0001817511
Form:       8-K/A
Filed at:   2022-09-16T23:59:59+00:00
Accession:  0001607062-22-000581
Event type: m_and_a
Sentiment:  negative
Materiality: 0.75
Item codes: 9.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

SOPA acquires digital marketing firms; acquired entities show losses and going concern
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- Acquired AdActive Media CA and 99.75% of Thoughtful Thailand; closed July 7, 2022.
- AdActive Media (US business) had net loss of $1.06M in 2021 and accumulated deficit of $44.98M at Dec 31, 2021.
- Audited financials include going concern qualification due to recurring losses and negative cash flows.
- Unaudited pro forma condensed combined financials filed for SOPA as of March 31, 2022.
- Press release issued Sept 15, 2022 announcing the acquisition.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817511/000160706222000581/0001607062-22-000581-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817511/000160706222000581/sopa091222form8ka.htm
  HTML page:      https://secwatch.observer/filing/0001607062-22-000581

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