Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 1549

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 1549
---
 value adjustment to derivative liability 
     (6,892,395) 
     (1,501,446)
  
    Closing balance 
    $1,138,204  
    $1,434,196 

F-25

INNOVATIVE PAYMENT
SOLUTIONS, INC.

NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS

15STOCKHOLDERS’ EQUITY

a.Common Stock

The
Company has total authorized Common Stock of 750,000,000 shares with a par value of $0.0001 each. The Company had 19,081,446 and13,819,889 shares
of Common Stock issued and outstanding as of December 31, 2024 and December 31, 2023, respectively.

On
May 19, 2023, in terms of a conversion notice received from a convertible note holder, the Company issued 72,464 shares of Common
Stock for the conversion of $25,000 of convertible debt.

On
August 16, 2023, in terms of a conversion notice received from a convertible note holder, the Company issued 72,464 shares of
Common Stock for the conversion of $25,000 of convertible debt.

On
August 24, 2023, in terms of a conversion notice received from a convertible note holder, the Company issued 173,914 shares
of Common Stock for the conversion of $60,000 of interest on convertible debt.

On
August 30, 2023, the Company effectuated a 1 for 30 reverse stock split, resulting in the issuance of an additional 2,838 shares
to existing stockholders due to rounding of existing shareholdings. All share amounts disclosed in the unaudited condensed consolidated
financial statements have been adjusted to reflect the Company’s 1 for 30 reverse stock split effectuated on August 30, 2023.

On
August 31, 2023, in terms of a conversion notice received from a convertible note holder, the Company issued 144,928 shares
of Common Stock for the conversion of $50,000 of convertible debt.

On
November 8, 2023, in terms of a conversion notice received from a convertible note holder, the Company issued 289,855 shares
of Common Stock for the conversion of $100,000 of convertible debt.

On