Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 583

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 583
---
. A future change in ownership may result in an adjustment to the loss carryforward.

The
Company is subject to taxation in the U.S. and CA state. U.S. federal income tax returns for 2019 and after, remain open to examination.
No income tax returns are currently under examination. As of December 31, 2024 and 2023, the Company does not have any unrecognized tax
benefits, and continues to monitor its current and prior tax positions for any changes. The Company recognizes penalties and interest
related to unrecognized tax benefits as income tax expense. For the years ended December 31, 2024 and 2023, there were no penalties or
interest recorded in income tax expense. 

F-33

INNOVATIVE PAYMENT
SOLUTIONS, INC.

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

18NET LOSS PER SHARE

Basic
loss per share is based on the weighted-average number of common shares outstanding during each period. Diluted loss per share is based
on basic shares as determined above plus common stock equivalents. The computation of diluted net loss per share does not assume the issuance
of common shares that have an anti-dilutive effect on net loss per share. For the years ended December 31, 2024 and 2023 all
warrants options and convertible debt securities were excluded from the computation of diluted net loss per share.

Dilutive
shares which could exist pursuant to the exercise of outstanding stock instruments and which were not included in the calculation because
their affect would have been anti-dilutive for the years ended December 31, 2024 and 2023 are as follows:

    Year ended December 31,  2024 (Shares)  
    Year ended December 31,  2023 (Shares) 
  
    Convertible debt 
     40,731,757  
     13,363,993 
  
    Stock options 
     1,513,335  
     1,520,002 
  
    Warrants to purchase shares of common stock 
     22,011,614  
     10,442,093 

     64,256,706  
     25,326,088 

19RELATED PARTY TRANSACTIONS

The
following transactions were entered into with related parties:

William
Corbett

The
option expense for Mr. Corbett was $155,369 and $266,346