Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 668

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 668
---
ANCE
SHEETS

    December 31,

    December 31,

    2024

    2023

    Assets

    Current Assets

    Cash
     
    $
    526

    $
    50,433

    Other current assets

    7,894

    38,818

    Notes receivable – current portion

    371,170

    -

    Total Current Assets

    379,590

    89,251

    Non-current assets

    Plant and equipment

    4,858

    7,027

    Security deposit

    -

    5,000

    Equity method investment

    1

    703,938

    Total Non-Current Assets

    4,859

    715,965

    Total Assets
     
    $
    384,449

    $
    805,216

    Liabilities and Equity (Deficit)

    Current Liabilities

    Accounts payable
     
    $
    2,986,039

    $
    2,023,375

    Federal relief loans – current portion

    8,869

    9,369

    Notes payable, net of unamortized discount of $89,062 and $0, respectively

    1,669,873

    1,062,007

    Convertible debt, net of unamortized discount of $80,971 and $687,503, respectively

    5,016,205

    3,704,280

    Derivative liability

    1,138,204

    1,434,196

    Total Current Liabilities

    10,819,190

    8,233,227

    Non-Current Liabilities

    Federal relief loans

    150,000

    150,000

    Total Non-Current Liabilities

    150,000

    150,000

    Total Liabilities

    10,969,190

    8,383,227

    Stockholders’ Equity (Deficit)

    Preferred stock, $0.0001 par value, 25,000,000 shares authorized, and 0 shares issued and outstanding as of December 31, 2024 and December 31, 2023.

    -

    -

    Common stock, $0.0001