Company: IPSI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076595
Chunk: 155

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 155
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 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, 2024, the maturity date of the $200,000 note was further extended to June 14, 2024, and the
maturity date of the $25,000 note was further extended to June 30, 2024. In exchange for the maturity date extension, on June
14, 2024, the Company issued to note holders warrants exercisable for 292,463 shares of Common Stock at an exercise price of
$0.345 per share.

On August 6, 2024, the Company received
a conversion notice from the holder of RRH Note 2. As a result of the conversion of the RRH Note 2, all warrants of the Company that contain
price-based anti-dilution protection had the exercise price of such warrants adjusted to