Society Pass Inc. (Nasdaq

SOPA) 1Q 2024 Shareholder Update and Analyst Recommendations

NEW YORK, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Society Pass Inc. (Nasdaq: SOPA) (“SOPA” or the “Company”), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, continues to capture the attention of financial analysts and investors, receive positive recommendations and achieve significant milestones.

SOPA has accomplished annual triple digit revenue growth over the past four years through its innovative business model by acquiring high growth companies such as: Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; VLeisure, Vietnam’s leading provider of hotel management and payment solutions; Gorilla Global, a Singapore-based, mobile network operator; and Leflair, Vietnam’s leading lifestyle e-commerce platform.

SOPA’s diversification strategy is mainly due to the fact that roughly 70% of SEA’s population is unbanked or underbanked and more people are connected everyday looking for services offered by SOPA. SOPA looks to continue to increase its portfolio of value-added brands within this rapidly expanding consumer market.

Recent Analyst Recommendations:

• Litchfield Hills Equity Research Report (22 December 2023) summarised that SOPA is a high-growth acquisitive internet services company offering advertising, travel, retail, telecom and fintech services in fast growing SEA. Litchfield Hills forecasts positive EBITDA in 2024 as SOPA shifts from its early growth strategy to a focus on profitability under its new CEO.
• Ascendiant Capital Markets recommended a bullish outlook for SOPA stock as highlighted in their recently issued Ascendiant Capital Markets Equity Research Report (05 December 2023), emphasising the company's innovative subscription model and strategic partnerships as key drivers for its potential growth.
• Given that SOPA beat its 3Q 2023 estimates and cash balance remains strong, Maxim Group remains positive on SOPA’s organic growth and M&A strategy in its 3Q 2023 Maxim Group Equity Research Report (15 November 2023).
• Greenridge Global initiated coverage with a target price based on an EV/Revenue multiple of roughly 3 times the 2025 revenues Greenridge Global Equity Research Report (01 November 2023). It also affirmed SOPA’s potential for significant upside believes the market is not fairly valuing SOPA’s assets at this time and believes listing some of its subsidiaries provides greater transparency to SOPA’s overall business model.

Structured Financing with Strattners: