Company: IPSI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110820
Chunk: 255

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 255
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 stockholders and require significant debt service payments, which diverts resources from other activities. Moreover, there
is a risk that financing may be unavailable to support our operations on favorable terms, or at all.

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There is also a significant risk that none
of our plans to raise financing will be implemented in a manner necessary to sustain us for an extended period of time. If adequate funds
are not available to us when needed, we may be required to continue with reduced or discontinued operations or to obtain funds through
arrangements that may require us to relinquish rights to technologies or potential markets, any of which could have a material adverse
effect on our Company. In addition, our inability to secure additional funding when needed could cause our business to fail or become
bankrupt or force us to wind down or discontinue operations, accordingly, there is substantial doubt relating to our ability to continue
as a going concern.

We do not have any off balance
sheet financing arrangements as of the date of this Report.

Capital Expenditures

Our capital expenditure is
dependent on our cash resources, currently we are not forecasting any additional capital expenditure for the 2025 fiscal year.

Item 3. Quantitative and Qualitative Disclosures About Market Risks

We are a smaller reporting
company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information otherwise required under this Item.

Item 4. Controls and Procedures

(a) Evaluation of Disclosure Controls and Procedures

Pursuant to Rule 13a-15(b)
under the Exchange Act, our management carried out an evaluation, with the participation of our Chief Executive Officer (“CEO”)
who also fulfils the role of our President and Chief Financial Officer (“CFO”), of the effectiveness of our disclosure controls
and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this Report. Based upon
that evaluation, our CEO concluded that our disclosure controls and procedures as of September 30, 2025 are not effective due to a lack
of written policies and procedures to address all material transactions and developments impacting our financial statements.

Changes in Internal Control over Financial
Reporting

There has been no change in
our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) that occurred during our
fiscal quarter ended September 30, 2025