Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 183

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 183
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 cash in the future. This, to a certain extent, is subject to general economic, financial, competitive, legislative,
regulatory and other factors that are beyond our control. We cannot assure you that our business will generate sufficient cash flow from
operations or from other sources in an amount sufficient to enable us to service our debt or to fund our other liquidity needs. If our
cash flow and capital resources are insufficient to allow us to make scheduled payments on our debt, we may need to seek additional capital
or restructure or refinance all or a portion of our debt on or before the maturity thereof, any of which could have a material adverse
effect on our business, financial condition or results of operations. We cannot assure you that we will be able to refinance any of our
debt on commercially reasonable terms or at all, or that the terms of that debt will allow any of the above alternative measures or that
these measures would satisfy our scheduled debt service obligations. If we are unable to generate sufficient cash flow to repay or refinance
our debt on favorable terms, it could significantly adversely affect our financial condition and the value of our outstanding debt. Our
ability to restructure or refinance our debt will depend on the condition of the capital markets and our financial condition. Any refinancing
of our debt could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict
our business operations. There can be no assurance that we will be able to obtain any financing when needed.

Covenant restrictions
under our indebtedness may limit our ability to operate our business.

Our outstanding convertible
notes contain, and our future indebtedness agreements may contain covenants that restrict our ability to finance future operations or
capital needs or to engage in other business activities. The Notes restrict our ability to:

    ●
    incur, assume or guarantee or suffer to exist any indebtedness
    for borrowed money of any kind, including, but not limited to, a guarantee, on or with respect to any of its property or assets now
    owned or hereafter acquired or any interest therein or any income or profits therefrom other than Permitted Indebtedness (as defined
    in the notes);

    ●
    repurchase capital stock;

    ●
    repay any Indebtedness (as defined in the notes) other
    than certain secured notes which are no longer outstanding or Permitted Indebtedness or make other restricted payments including,
    without limitation