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DESCRIPTION OF BUSINESS AND ORGANIZATION
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
DESCRIPTION OF BUSINESS AND ORGANIZATION

NOTE－1 DESCRIPTION OF BUSINESS AND ORGANIZATION

Society Pass Incorporated (the “Company”) is incorporated in State of Nevada on June 22, 2018 under the name of Food Society Inc. On October 3, 2018, the Company changed its company name to Society Pass Incorporated. The Company through its subsidiaries, mainly sells and distributes the hardware and software of Point of Sales (POS) application in Vietnam.

On February 10, 2021, the Company effected a 750 for 1 stock split of the issued and outstanding shares of the Company’s common stock. The number of authorized shares and par value remain unchanged. All share and per share information in this financial statements and its footnotes have been retroactively adjusted for the years presented, unless otherwise indicated, to give effect to the forward stock split.

On September 21, 2021, the Company effected a 1 for 2.5 stock split of the issued and outstanding shares of the Company’s common stock. The number of authorized shares and par value remain unchanged. All share and per share information in this financial statements and its footnotes have been retroactively adjusted for the years presented, unless otherwise indicated, to give effect to the reverse stock split.

An additional result of the stock split was that the stated value of preferred stock, the number of designated shares and outstanding shares of each series of preferred stock was unchanged in accordance to the respective certificate of designations. The number of authorized shares of preferred stock remained unchanged.

The registration statement for the Company’s Initial Public Offering became effective on November 8, 2021. On November 8, 2021, the Company entered into an underwriting agreement with Maxim Group LLC, related to the offering of 2,888,889 shares of the Company’s common stock (the “Firm Share”), at a public offering price of $9.00 per share. Under the terms of the Underwriting Agreement, the Company granted the Underwriters an option, exercisable for 45 days, to purchase an additional 236,111 shares of common stock (the “Option Shares”) to cover over-allotments. The Company raised $26,000,001 and $2,124,999 from its initial public offering and from the additional sale of the Option Shares, respectively.

Description of subsidiaries incorporated by the Company

Schedule of Description of subsidiaries 

            
Name  Place and date of incorporation  Principal activities  Particulars of registered/ paid up share capital 

Effective interest held

Society Technology LLC  State of Nevada, January 24, 2019  IP Licensing  US$1   100%
SOPA Cognitive Analytics Private Limited  India, February 5, 2019  Computer sciences consultancy and data analytics  INR1,238,470   100%
SOPA Technology Pte. Ltd.  Singapore, June 4, 2019  Investment holding  SG$1,250,000   95%
SOPA Technology Company Limited  Vietnam, October 1, 2019  Software production  Registered: VND 2,307,300,000;
Paid up: VND 1,034,029,911		   100%
Hottab Pte Ltd. (HPL)  Singapore, January 17, 2015  Software development and marketing for the F&B industry  SG$620,287.75   100%
Hottab Vietnam Co. Ltd  Vietnam,
April 17, 2015		  Sale of POS hardware and software  VND 1,000,000,000   100%
Hottab Asset Company Limited  Vietnam,
July 25, 2019		  Sale of POS hardware and software  VND 5,000,000,000   100%
Leflair Incorporated  United States,
December 07, 2021		  Investment holding  US$1   100%
SOPA Capital Limited 

United Kingdom,

December 07, 2021

  Investment holding  £1   100%

The Company and its subsidiaries are hereinafter referred to as (the “Company”).