Company: NUTR
Filing Date: 2025-04-14
Form Type: S-1/A
Source: 0001641172-25-004581
Chunk: 172

Company: NUSATRIP Inc
Filing Date: 2025-04-14
Form: S-1/A
Chunk 172
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 based on their ages and wages level. During the years ended December 31, 2024 and 2023, $85,315 and $114,880 contributions were made, respectively.

NOTE 13 — RELATED PARTY TRANSACTIONS

From time to time, shareholder of the Company advanced funds to the Company for working capital purposes. Those advances are unsecured, non-interest bearing and due on demand.

The Company has no other significant or material related party transactions during the years presented except for the audit fee borne by Society Pass Inc amounted to $0 and $125,000 for the years ended December 31, 2024 and 2023 respectively.

NOTE 14 — CONCENTRATIONS OF RISK

The Company is exposed to the following concentrations of risk:

(a) Major customers

For the year ended December 31, 2024, the Company had a single customer that constituted 22.94% of its revenue, with accounts receivable of $0 at the year-end.

For the year ended December 31, 2023, the Company had a single customer that constituted 16.40% of its revenues, with accounts receivable of $0 at the year-end.

(b) Major vendors

For the years ended December 31, 2024 and 2023, none of the vendor accounted for 10% or more of the Company’s cost of revenue.

(c) Credit risk

Financial instruments that are potentially subject to credit risk consist principally of accounts receivable. The Company believes the concentration of credit risk in its trade receivables is substantially mitigated by its ongoing credit evaluation process and relatively short collection terms. The Company does not generally require collateral from customers. The Company evaluates the need for an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information.

(d) Exchange rate risk

The reporting currency of the Company is US$, to date the majority of the revenues and costs are denominated in VND, MYR and IDR and a significant portion of the assets and liabilities are denominated in VND, MYR and IDR. As a result, the Company is exposed to foreign exchange risk as its revenues and results of operations may be affected by fluctuations in the exchange rate between US$ and VND, MYR and IDR. If VND, MYR and IDR depreciate against US$, the value of VND, MYR and IDR revenues and assets as expressed in US$ financial statements will decline. The Company does not hold any derivative or