Issue 005 | U.S. Pilot | US

SOPA

SOCIETY PASS INCORPORATED.

Screen state: Needs Review Source state: Stale Filing 10-Q | 2025-11-14 Filing currency: USD

Open Filing Back to Register Report a correction

Internal NCAV Discount 100.0%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets: 26,634,994USD
Total Liabilities: 19,602,879USD
NCAV: 7,032,115USD
Cash: 6,552,702USD
NCAV per share: 1.15USD/share
Evidence: 4 annual | 16 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Evaluated: 12
Triggered: 2
Unavailable: 8

Requires inspection Negative OCF -22,521,547

Latest: -22,521,5472025-09-30
Comparison: n/a
Change: n/a

Basis: latest reporting-period cash from operations < 0

Source periods: SEC 10-Q 2025-09-30 · 0001493152-25-022564

Requires inspection Current Ratio <= 1.5 1.4

Latest: 1.42025-09-30
Comparison: 1.5
Change: n/a

Basis: current assets / current liabilities <= 1.5

Source periods: SEC 10-Q 2025-09-30 · 0001493152-25-022564

8 unavailable checks — inspect missing inputs

High Debt (short-term debt + long-term debt) / ordinary equity >= 50%

High NCAV Burn since the previous filing NCAV burn since previous filing >= 10%; previous NCAV must be positive

Low Debt (short-term debt + long-term debt) / ordinary equity < 20%

Material 1Y Share Increase 1Y share change >= +2% using the same share-count source

NCAV Growing equivalent prior-year NCAV change >= +2%; both NCAV values must be positive

No Material 1Y Share Increase 1Y share change > -2% and <= +1% using the same share-count source

Non-Positive Equity ordinary shareholders equity <= 0

Share Count Reduced 1Y share change <= -2% using the same share-count source

Business Profile

Published only when a substantive filing-text profile has been prepared for this issue.

Not available for this issue.

A substantive filing-text profile was not prepared for this company. Financial statement evidence and filing links remain available above for direct inspection.

Historical values can be viewed as reported in each filing or normalized to the latest verified split basis. These are measurement aids, not conclusions about a company.

Policy: normalize_to_latest_verified_split_basis | quality: verified

Display basis Normalized to latest verified split basis As reported in each filing

Metric	2025-09-30 10-Q Open filing	2025-06-30 10-Q Open filing	2025-03-31 10-Q Open filing	2024-12-31 10-K Open filing	2024-09-30 10-Q Open filing	2024-06-30 10-Q Open filing	2024-03-31 10-Q Open filing	2023-12-31 10-K Open filing	2023-09-30 10-Q Open filing	2023-06-30 10-Q Open filing	2023-03-31 10-Q Open filing	2022-12-31 10-K Open filing	2022-09-30 10-Q Open filing	2022-06-30 10-Q Open filing	2022-03-31 10-Q Open filing	2021-12-31 10-K Open filing	2021-09-30 10-Q Open filing
Period-end Shares Outstanding	6,105,5256,105,525	5,311,0615,311,061	4,968,0304,968,030	3,718,0303,718,030	1,458,2763,645,689	1,188,2782,970,696	1,007,0112,517,528	886,99633,262,362	829,05631,089,593	758,86028,457,239	751,24128,171,523	722,20927,082,849	690,06425,877,403	654,51824,544,443	n/an/a	526,19719,732,406	258,5469,695,480
Weighted-average Basic Shares	6,105,5256,105,525	5,311,0615,311,061	4,208,0304,208,030	2,962,5282,962,528	1,152,9402,882,349	1,062,6792,656,697	936,5202,341,300	772,59028,972,117	759,57028,483,858	751,24128,171,523	722,20927,082,849	651,45424,429,526	674,72525,302,206	649,27024,347,607	583,79021,892,111	251,8339,443,741	n/an/a
Weighted-average Diluted Shares	5,737,8295,737,829	5,010,5355,010,535	4,208,0304,208,030	2,962,5282,962,528	1,152,9402,882,349	1,062,6792,656,697	936,5202,341,300	772,59028,972,117	759,57028,483,858	751,24128,171,523	722,20927,082,849	651,45424,429,526	674,72525,302,206	649,27024,347,607	583,79021,892,111	251,8339,443,741	n/an/a
Basic EPS	-1-1	-0-0	-0-0	-3-3	-2-2	-2-2	-1-1	-1-1	-0-0	-0-0	-0-0	-1-1	-1-1	-1-1	-0-0	-4-4	-2-2
Diluted EPS	-1-1	-0-0	-0-0	-3-3	-2-2	-2-2	-1-1	-1-1	-0-0	-0-0	-0-0	-1-1	-1-1	-1-1	-0-0	-4-4	-2-2
Basic-to-Diluted Share Difference	-6.0%	-5.7%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	Insufficient evidence
Net Share Count Change	15.0%	6.9%	33.6%	155.0%	22.7%	18.0%	13.5%	7.0%	9.3%	1.0%	4.0%	4.7%	5.4%	Insufficient evidence	131.8%	103.5%	Insufficient evidence
Ownership Claim Change	-13.0%	-6.5%	-25.2%	-60.8%	-18.5%	-15.3%	-11.9%	-6.5%	-8.5%	-1.0%	-3.9%	-4.5%	-5.2%	Insufficient evidence	-56.9%	-50.9%	Insufficient evidence

Verified split events: forward 750.0 on 2021-02-10; reverse 750.0 on 2021-09-01; reverse 2.5 on 2021-10-21; reverse 15.0 on 2024-05-01; reverse 2.5 on 2025-03-31

Known Unknowns

Only 16 quarterly periods available from Data Vault for this company.

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Medium | Filing

Some rows are based on older filing data and require manual freshness review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric	2024-12-31 10-K USD	2023-12-31 10-K USD	2022-12-31 10-K USD	2021-12-31 10-K USD
Revenue	7,105,530	8,171,635	5,635,553	519,885
Operating Income	-9,321,332	-17,960,418	-34,156,056	-34,212,203
Net Income	-10,227,278	-18,134,128	-34,015,022	-34,864,740
Cash From Operations	2,473,495	-13,908,134	-14,453,759	-10,813,938
Capex	-29,959	-219,214	-566,266	-46,837
Free Cash Flow	2,443,536	-14,127,348	-15,020,025	-10,860,775
Cash And Equivalents	7,630,079	3,628,670	18,930,986	23,264,777
Accounts Receivable	1,111,161	1,338,170	951,325	52,588
Inventory	157,734	431,483	310,932	221,068
Total Current Assets	14,475,912	8,098,635	22,996,945	29,632,687
Total Assets	21,279,701	16,363,174	32,698,742	35,176,357
Total Current Liabilities	23,230,652	10,486,062	11,614,299	2,439,621
Total Liabilities	23,692,406	11,334,012	12,687,425	5,290,295
Shareholders Equity	-2,138,809	5,306,415	20,347,832	32,428,467
Shares Outstanding	4,968,030	1,006,996	722,209	627,884
Shares Outstanding Diluted	n/a	n/a	n/a	n/a
Weighted Avg Shares Diluted	2,962,528	772,590	651,454	251,833
Weighted Avg Shares Basic	2,962,528	772,590	651,454	251,833
Net Share Count Change (Normalized)	155.0%	7.0%	4.7%	103.5%
Ownership Claim Change (Normalized)	-60.8%	-6.5%	-4.5%	-50.9%

Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Only 16 quarterly periods available from Data Vault for this company.

Metric	2025-09-30 10-Q USD	2025-06-30 10-Q USD	2025-03-31 10-Q USD	2024-12-31 10-K USD	2024-09-30 10-Q USD	2024-06-30 10-Q USD	2024-03-31 10-Q USD	2023-12-31 10-K USD	2023-09-30 10-Q USD	2023-06-30 10-Q USD	2023-03-31 10-Q USD	2022-12-31 10-K USD	2022-09-30 10-Q USD	2022-06-30 10-Q USD	2022-03-31 10-Q USD	2021-09-30 10-Q USD
Revenue	1,380,382	2,501,494	1,473,504	1,872,047	1,675,894	1,710,510	1,847,079	1,672,757	2,269,066	2,187,232	2,042,580	2,641,137	2,050,264	499,062	445,090	83,534
Operating Income	-5,244,624	-152,589	-1,865,950	-3,099,863	-1,174,614	-2,155,194	-2,891,661	-4,951,868	-4,142,505	-3,415,813	-5,450,232	-9,839,844	-10,100,376	-7,616,112	-6,599,724	-8,420,917
Net Income	-5,118,989	479,008	-1,841,088	-4,071,125	-1,377,885	-1,938,343	-2,839,925	-5,572,756	-3,861,929	-3,309,230	-5,390,213	-9,773,556	-10,063,467	-7,586,594	-6,591,405	-8,429,267
Cash From Operations	-16,716,930	-1,771,115	-4,033,502	3,651,643	2,047,909	-864,572	-2,361,485	-4,090,169	-2,931,714	-2,871,050	-4,015,201	-3,572,752	-5,432,533	-2,887,557	-2,560,917	n/a
Capex	132	n/a	n/a	n/a	n/a	-54,393	-190,061	-33,959	59,199	-54,393	-190,061	-116,721	-390,644	-28,322	-30,579	n/a
Free Cash Flow	-16,716,798	n/a	n/a	n/a	n/a	-918,965	-2,551,546	-4,124,128	-2,872,515	-2,925,443	-4,205,262	-3,689,473	-5,823,177	-2,915,879	-2,591,496	n/a
Cash And Equivalents	6,552,702	8,218,805	7,092,266	7,630,079	4,220,371	833,937	1,619,232	3,628,670	8,220,075	10,839,434	13,755,377	18,930,986	22,986,380	28,012,846	30,967,561	5,722,450
Total Current Assets	26,634,994	22,584,634	16,150,311	14,475,912	9,812,203	5,584,832	5,541,140	8,098,635	12,051,661	14,594,840	16,862,370	22,996,945	27,972,033	32,950,966	37,081,292	5,977,376
Total Liabilities	19,602,879	26,942,541	23,791,970	23,692,406	16,431,060	10,905,251	10,029,823	11,334,012	10,788,720	11,263,652	19,859,581	12,687,425	25,798,305	5,841,402	3,913,668	2,536,415
Shares Outstanding	6,105,525	5,361,919	5,011,061	4,968,030	1,458,276	1,260,278	1,055,979	1,006,996	876,256	758,860	751,241	722,209	710,956	676,671	634,357	511,535
Shares Outstanding Diluted	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Weighted Avg Shares Diluted	6,105,525	5,010,535	4,208,030	3,959,689	1,152,940	1,062,679	936,520	856,012	759,570	751,241	722,209	696,537	674,725	649,270	583,790	208,635
Weighted Avg Shares Basic	6,105,525	5,311,061	4,208,030	3,959,689	1,152,940	1,062,679	936,520	856,012	759,570	751,241	722,209	696,537	674,725	649,270	583,790	208,635
Net Share Count Change (Normalized)	15.0%	6.9%	33.6%	155.0%	22.7%	18.0%	13.5%	7.0%	9.3%	1.0%	4.0%	4.7%	5.4%	Insufficient evidence	131.8%	Insufficient evidence
Ownership Claim Change (Normalized)	-13.0%	-6.5%	-25.2%	-60.8%	-18.5%	-15.3%	-11.9%	-6.5%	-8.5%	-1.0%	-3.9%	-4.5%	-5.2%	Insufficient evidence	-56.9%	Insufficient evidence

Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input	Value	Source concept	Filing period	Confidence	Provenance
Current Assets	26,634,994USD	us-gaap:AssetsCurrent	2025-09-30	1.00	Data Vault \| sec/companyfacts/cik=0001817511/companyfacts.json Data Vault \| sec/companyfacts/cik=0001817511/companyfacts.json
Total Liabilities	19,602,879USD	us-gaap:Liabilities	2025-09-30	1.00	Data Vault \| sec/companyfacts/cik=0001817511/companyfacts.json Data Vault \| sec/companyfacts/cik=0001817511/companyfacts.json
Cash	6,552,702USD	us-gaap:CashAndCashEquivalentsAtCarryingValue	2025-09-30	1.00	Data Vault \| sec/companyfacts/cik=0001817511/companyfacts.json Data Vault \| sec/companyfacts/cik=0001817511/companyfacts.json
Shares Outstanding	6,105,525	us-gaap:CommonStockSharesOutstanding	2025-09-30	1.00	Data Vault \| sec/companyfacts/cik=0001817511/companyfacts.json Data Vault \| sec/companyfacts/cik=0001817511/companyfacts.json
NCAV	7,032,115USD	derived	2025-09-30	n/a	company-evidence-v1 \| total_current_assets - total_liabilities
NCAV per share	1.15USD	derived	2025-09-30	n/a	company-evidence-v1 \| NCAV / shares_outstanding
Internal NCAV Discount	100.0%	derived	2025-09-30	n/a	gnni_publication_pack \| internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / shares_outstanding

Source Provenance

Data Source: Data Vault
Data Vault Root: Local evidence | The Data Vault
CIK: 0001817511
Company ID: n/a
Selected Annual Source: Data Vault | sec/companyfacts/cik=0001817511/companyfacts.json
Selected Quarterly Source: Data Vault | sec/companyfacts/cik=0001817511/companyfacts.json
Statement Extractor: companyfacts-screener-v1
View Extractor: companyfacts-screener-v1
Source Accession Count: 18
Imported At: 2026-08-15T12:52:50+00:00
Rendered At: 2026-08-16T03:30:00+00:00

Run Audit

Mary Run: 062cd84c6cec4533b9bb580392e1f3bf
Mary As Of: 2026-08-07
Accession: 0001493152-25-022564
CIK: 0001817511
Mary Filing Date: 2025-11-14
Filing Currency: USD
Internal Discount: 100.0%
Source State: Stale Filing
Market Context: Not Displayed
Market Policy: internal_only_not_redistributed
Share Trend: Not Evaluated
Dilution: Needs Review

mary_run=062cd84c6cec4533b9bb580392e1f3bf; mary_as_of=2026-08-07; mary_filing_date=2025-11-14; mary_accession=0001493152-25-022564; mary_cik=0001817511; gnni_supporting_filing_date=2025-11-14; internal_discount=0.99974; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.; source requires review

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