Society Pass Inc.

09/05/2025 | Press release | Distributed by Public on 09/05/2025 15:27

Failure to Satisfy Listing Rule (Form 8-K)

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

As previously disclosed, on February 18, 2025, Society Pass Incorporated (the "Company") received written notice (the "Delist Notice") from The Nasdaq Stock Market LLC ("Nasdaq") indicating that, based upon the Company's continued non-compliance with Rule 5550(b)(2) which requires that the Company shall maintain at least $2,500,000 stockholders' equity (the "Equity Rule"), the Nasdaq staff determined to delist the Company's common stock from the Nasdaq Capital Market effective on February 27, 2025 unless the Company timely requested an appeal of this determination before the Nasdaq Hearings Panel (the "Panel"). The Company timely requested a hearing (the "Hearing") before the Panel, which stayed the suspension of the Company's common stock pending the Panel's decision, and the Hearing was held on April 1, 2025. On April 9, 2025, the Panel issued a decision that granted the Company's request to continue its listing on Nasdaq until June 30, 2025. On July 15, 2025, the Panel issued an amended decision to further grant the Company's request for an exception until August 18, 2025.

On September 2, 2025, the Company received a letter ("Compliance Letter") from Nasdaq indicating that, the Company has demonstrated compliance with the Equity Rule, and the Company is therefore in compliance with the Nasdaq Capital Market's continued listing requirements. Pursuant to Listing Rule 5815(d)(4)(B), the Company will be subject to a Mandatory Panel Monitor for a period of one year from the date of the Compliance Letter. If, within that one-year monitoring period, Nasdaq finds the Company again out of compliance with the Equity Rule, the Company will not be permitted to provide Nasdaq with a plan of compliance with respect to that deficiency, and Nasdaq will issue a Delist Determination Letter without giving the Company cure or compliance period pursuant to Rule 5810(c)(3).

Society Pass Inc. published this content on September 05, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on September 05, 2025 at 21:27 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]