Company: IPSI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044146
Chunk: 137

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 137
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 an exercise price of $0.345 per share.

24

INNOVATIVE PAYMENT SOLUTIONS, INC.

Notes to the Unaudited
Condensed Financial Statements

10STOCKHOLDERS’ EQUITY (continued)

d.Warrants (continued)

Between May
3, 2024 and May 28, 2024, the Company entered into a Securities Purchase Agreements with four accredited investors. In terms of the Securities
Purchase Agreement, the Company issued five-year warrants to purchase an aggregate of 468,738 shares of the Common Stock
at an exercise price of $0.345 per share (as adjusted for stock splits, stock combinations, dilutive issuances and similar events).
The Company is under no obligation to register the shares of Common Stock underlying the Note or the Warrant, for public resale.

On May 4, 2024,
the maturity date of two notes totaling $225,000 which originally matured on December 31, 2023 and which maturity dates were extended
to March 30, 2024, on May 4, 2024, the maturity date of the $200,000 note was further extended to June 14, 2024, and the maturity
date of the $25,000 note was further extended to June 30, 2024. In exchange for the maturity date extension, on June 14, 2024,
the Company issued to note holders warrants exercisable for 292,463 shares of Common Stock at an exercise price of $0.345 per
share.

On August 6, 2024, the Company received
a conversion notice from the holder of RRH Note 2. As a result of the conversion of the RRH Note 2, all warrants of the Company that contain
price-based anti-dilution protection had the exercise price of such warrants adjusted to $0.084 per share and certain warrants of
the Company that contain “full ratchet” anti-dilution price protection had the number of shares exercisable for such warrants
increased by the full ratchet provision and the conversion prices of such warrants adjusted to $0.084 per share. Certain warrants exercisable
for 3,145,342 shares of common stock at an exercise price of $0.345 per share, have a full ratchet provision which results
in an increase in the number of shares of Common Stock exercisable for such warrants