Company: IPSI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110820
Chunk: 158

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 158
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 loss on conversion of $280.   Between January 7, 2025 and March 28, 2025, Quick Capital converted an aggregate of $71,900, including a penalty of $7,729 into 15,924,541 shares of common stock at a weighted average conversion price of $0.0045 (conversion prices ranging from $0.0325 to $0.001105), realizing a loss on conversion of $29,641, thereby extinguishing the note. 

2023,
2024 and 2025 Convertible Notes

Between
February 13, 2023 and November 27, 2023, the Company entered into Securities Purchase Agreements with 30 accredited investors to purchase
convertible notes (the “2023 Convertible Notes”), receiving an aggregate of $2,026,666 in gross proceeds from the 2023
convertible notes.

Between
February 6, 2024 and October 23, 2024, the Company entered into Securities Purchase Agreements with 9 accredited investors to
purchase convertible notes (the “2024 Convertible Notes”), receiving an aggregate of $575,002 in gross proceeds from
the 2024 Convertible Notes.

Between
January 7, 2025 and September 19, 2025, the Company entered into Securities Purchase Agreements with 4 accredited investors to purchase
convertible notes (the “2025 Convertible Notes”), receiving an aggregate of $542,000 in gross proceeds from the
2025 Convertible Notes, net of original issue discount of $6,000.

On
April 18, 2025, the Company entered into a debt exchange agreement with our previous CFO, Mr. Rosenblum, whereby $210,000 of accrued payroll
was exchanged for a convertible note with an exercise price of $0.02 per share, maturing on January 6, 2026. The note bears interest at
8% per annum. On April 29, 2025, the board of directors amended the exercise price to $0.005 per share. 

In
terms of the above private placements through the issuance of :

    ●
    the 2023 Convertible Notes, the 2024 Convertible Notes and the 2025 Convertible notes; and

    ● five-year warrants to purchase an aggregate 5,696,586 shares of Common Stock at an exercise price of $