Company: IPSI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110820
Chunk: 49

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 has recorded an expense
of $249,750 and $0 for the three and nine months ended September 30, 2025 and 2024, respectively. 

c.Preferred
Stock

The Company
has authorized 100,000,000 shares of preferred stock with a par value of $0.0001 authorized. No preferred stock
was issued and outstanding as of September 30, 2025 and December 31, 2024.

d.Warrants

On March 4,
2024, the Company entered into a Securities Purchase Agreement with an accredited investor. In terms of the Securities Purchase Agreement,
the Company issued a five-year warrant to purchase an aggregate of 357,764 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 March 14,
2024, the Company extended the maturity date of 11 convertible notes maturing between February 13, 2024 and February 23, 2024 by an additional
six months and as compensation for the extension, the note holders were issued warrants exercisable for 387,673 shares of Common
Stock at 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