Company: NUTR
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001641172-25-025984
Chunk: 113

Company: NUSATRIP Inc
Filing Date: 2025-08-29
Form: 10-Q
Item: Item 8
Chunk 113
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 in conjunction with the unaudited condensed Consolidated Financial Statements and notes thereto that appear elsewhere in
this report.

Company
Overview

Nusatrip
Incorporated (“NusaTrip”) is incorporated under the laws of Nevada on May 22, 2023, which has no substantive operations other
than holding all of the outstanding equity of its operating subsidiaries as described below. Nusatrip and its subsidiaries (collectively
referred to as the “Company”) are mainly engaged in the provision of online ticketing and reservation services.

The
Company is an Online Travel Agency (“OTA”) in Indonesia and across Indonesia, Singapore, Vietnam, the Philippines and Thailand
(“SEA”). As an OTA, the Company, is an intermediary between travelers and various travel service providers such as airlines
and hotels. The Company offers a one-stop platform where travelers can search, compare, and book flights, hotels, car rentals, and other
travel-related services. The Company earns revenue through commissions, service fees, and advertising partnerships. The Company negotiates
agreements with airlines, hotels, and other travel suppliers to access their inventory and offer competitive prices to customers.

The
Reorganization transactions are completed as of the date these carve-out combined and consolidated financial statements were available
to be issued:

The
Company’s ultimate holding company is Society Pass Incorporated (“SOPA”), which is incorporated in State of Nevada
on June 22, 2018 and is currently listed on the Nasdaq Exchange under a ticker of SOPA.

On
August 15, 2022, SOPA acquired 75% of the outstanding capital stock of Nusatrip International Pte Ltd. (“NIPL”) and also
purchased all of the outstanding capital stock of PT Tunas Sukses Mandiri (“PTTSM”), a company existing under the law of
the Republic of Indonesia, and both engaged in online ticketing and reservation services.

On
February 23, 2023, SOPA acquired additional issued capital in Nusatrip International Pte Ltd of 2,225,735 number of ordinary stock and
increased its shareholding from 75% to 99%, and to the subsidiaries within the group. At the same time, Nusatrip International Pte Ltd
acquired 99.96% of the issue share capital of PT Tunas Sukses Mandiri from SOPA.

38

On
April 1, 2023, Nusatrip International Pte.