Company: IPSI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044146
Chunk: 5

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 5
---
- 
  
    Interest receivable 
     (3,551) 
     - 
  
    Interest accruals 
     212,340  
     120,396 
  
    CASH USED IN OPERATING ACTIVITIES 
     (223,620) 
     (202,749)

    CASH FLOWS FROM INVESTING ACTIVITIES: 

    Investment in notes receivable 
     -  
     (158,333)
  
    Investment in equity method investment 
     -  
     (500)
  
    NET CASH USED IN INVESTING ACTIVITIES 
     -  
     (158,833)

    CASH FLOWS FROM FINANCING ACTIVITIES: 

    Proceeds from bank overdraft 
     151  
     - 
  
    Proceeds from notes payable and convertible debt 
     223,000  
     402,335 
  
    Repayment of convertible debt 
        
     (84,311)
  
    Repayment of federal relief loans 
        
     - 
  
    NET CASH PROVIDED BY FINANCING ACTIVITIES 
     223,151  
     318,024 

    NET DECREASE IN CASH 
     (469) 
     (43,558)
  
    CASH AT BEGINNING OF YEAR 
     526  
     50,433 
  
    CASH AT END OF PERIOD 
    $57  
    $6,875 

    CASH PAID FOR INTEREST AND TAXES: 

    Cash paid for income taxes 
    $-  
    $- 
  
    Cash paid for interest 
    $(404) 
    $(16,522)

    NON-CASH INVESTING AND FINANCING ACTIVITIES 

    Fair value of warrants issued with convertible debt 
    $52,735  
    $44,813 
  
    Conversion of convertible debt to equity 
    $230,798  
    $- 

See notes to the unaudited
condensed financial statements.

4

INNOVATIVE PAYMENT SOLUTIONS, INC.

Notes to the Unaudited
Condensed Financial Statements

1ORGANIZATION AND DESCRIPTION
OF BUSINESS

a)Organizational History

On May 12, 2016, Innovative
Payment Solutions, Inc., a Nevada corporation (“