# SOCIETY PASS INCORPORATED (SOPAQ) · Edgar & Edgarette company card

> Society Pass Incorporated (SOPAQ) saw revenue fall 13.0% in FY2024 to $7 million, operating margin -131% against a 7.9% median for business services, equity -10.1% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1817511 · fiscal year ended 2024-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/SOPAQ) · [JSON](https://www.pops4.com/boards/company/SOPAQ.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $7M |
| Revenue growth, 1 year | -13.0% |
| Revenue growth per year | 241.2% |
| Operating margin | -131.2% (prior year -219.8%) |
| Net margin | -144.1% |
| Operating cash flow | $2M |
| Capital spending | $29,959 |
| Free cash flow | $2M |
| Cash | $8M |
| Long-term debt | — |
| Total assets | $21M |
| Total equity | −$2M |
| Equity ÷ assets | -10.1% |
| Return on equity | — |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -22.61 (distress zone)
- Piotroski F: 4 of 9 (middling)
- Beneish M: -5.66 (below the −1.78 line)
- Health Harbor boat: Rotting at the dock · four or more warning signs · filed bankruptcy or receivership, late annual report notice, debt accelerated or triggered, auditor change in the last 12 months; liabilities exceed assets (often from years of share buybacks, not always distress); operating loss: a margin of -131.2% in FY2024; revenue is hard to predict: its 80% range is ±55%
- Cash Compass: Cash cow later · growing fast, and already turning revenue into cash

## Edgarette's reading

Exposure: revenue $7.1M (FY2024). Experience: revenue down 13.0% on the year, up 241.2% a year over 4 years; operating margin -131.2%, up from -219.8%. Soundness: equity -10.1% of assets (liabilities exceed assets). Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $6.1M and $21.1M next year (method v4.1: its own 2-year record of growth weighed at 25% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $5.6M to $23.0M. A statistical range, not company guidance. Against peers (70 filers, $50M+ revenue, services-business services, nec): operating margin -131.2% against a 7.9% median; growth -13.0% against 10.2%.

## Health Watch, last 12 months

- Item 1.03 Bankruptcy or receivership: 1, latest 2026-05-14 ([filing](https://www.sec.gov/Archives/edgar/data/1817511/000149315226023162/0001493152-26-023162-index.htm))
- Item NT 10-K Late annual report notice: 1, latest 2026-03-31 ([filing](https://www.sec.gov/Archives/edgar/data/1817511/000149315226014205/0001493152-26-014205-index.htm))
- Item 3.01 Exchange listing notice or transfer: 3, latest 2026-05-20 ([filing](https://www.sec.gov/Archives/edgar/data/1817511/000149315226024495/0001493152-26-024495-index.htm))
- Item 2.04 Debt accelerated or triggered: 1, latest 2026-05-14 ([filing](https://www.sec.gov/Archives/edgar/data/1817511/000149315226023162/0001493152-26-023162-index.htm))
- Item 4.01 Auditor change: 2, latest 2026-06-08 ([filing](https://www.sec.gov/Archives/edgar/data/1817511/000149315226027671/0001493152-26-027671-index.htm))
- Item 5.02 Director or officer change: 1, latest 2026-09-29 ([filing](https://www.sec.gov/Archives/edgar/data/1817511/000149315226044860/0001493152-26-044860-index.htm))

## Recent filings

- 8-K · filed 2026-09-29 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/1817511/000149315226044860/0001493152-26-044860-index.htm)
- 8-K · filed 2026-06-08 · 4.01 Changes in Registrant's Certifying Accountant; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1817511/000149315226027671/0001493152-26-027671-index.htm)
- 8-K · filed 2026-05-20 · 3.01 Notice of Delisting or Failure to Satisfy a Listing Rule · [filing](https://www.sec.gov/Archives/edgar/data/1817511/000149315226024495/0001493152-26-024495-index.htm)
- 8-K · filed 2026-05-14 · 1.03 Bankruptcy or Receivership; 2.04 Triggering Events That Accelerate a Financial Obligation; 8.01 Other Events · [filing](https://www.sec.gov/Archives/edgar/data/1817511/000149315226023162/0001493152-26-023162-index.htm)
- 8-K · filed 2026-04-21 · 3.01 Notice of Delisting or Failure to Satisfy a Listing Rule; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1817511/000149315226018364/0001493152-26-018364-index.htm)
- 8-K · filed 2026-04-15 · 8.01 Other Events · [filing](https://www.sec.gov/Archives/edgar/data/1817511/000149315226016817/0001493152-26-016817-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001817511.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1817511

## Cite

POPS4, Edgar & Edgarette: SOCIETY PASS INCORPORATED (SOPAQ) company card, from the company's own SEC filings, accessed 2026-11-14, https://www.pops4.com/boards/company/SOPAQ. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.