Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 2360

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 2360
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     -  
     - 
  
    Outstanding December 31, 2024 
     1,513,335  
    $1.20 - 12.00  
    $4.47 

*After giving effect to a 1
for 30 reverse stock split on August 30, 2023.

F-30

INNOVATIVE PAYMENT
SOLUTIONS, INC.

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

15STOCKHOLDERS’ EQUITY
(continued)

e.Stock options (continued)

The
options outstanding and exercisable at December 31, 2024 are as follows:

      Options Outstanding*   Options Exercisable*   Exercise  Price*   Number Outstanding*   Weighted Average Remaining Contractual life in years   Weighted Average Exercise Price*   Number Exercisable*   Weighted Average Exercise Price*   Weighted Average Remaining Contractual life in years   $        1.20    13,334    7.71         13,334         7.71   $4.50    1,500,001    6.94         1,500,001         6.94         1,513,335    6.94   $4.47    1,513,335   $4.47    6.94  

The
options outstanding have an intrinsic value of $0 as of December 31, 2024 and 2023.

The
option expense was $220,416 and $377,856 for the years ended December 31, 2024 and 2023, respectively.

16LOSS ON CONVERTIBLE NOTES

The
loss on convertible notes consists of the following:

    December 31, 2024  
    December 31, 2023 
  
    Penalty on convertible note 
    $117,083  
    $9,306 
  
    Expense on extension of maturity date of convertible notes 
     102,353  
     64,256 
  
    Loss on conversion of convertible notes 
     170,246  
     90,761 
  
    Loss on anti-dilution price protection adjustment 
     4,318,669  
     -