Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 1128

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 1128
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 at the note holder’s discretion.

F-18

INNOVATIVE PAYMENT
SOLUTIONS, INC.

NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS

13CONVERTIBLE NOTES PAYABLE

Convertible
notes payable consists of the following:

  Description  Interest Rate   Maturity date***  Principal   Accrued Interest   Unamortized debt discount   December 31, 2024 Amount, net   December  31, 2023 Amount, net   Cavalry Fund I LP   18.00%*  Matured  $819,371   $17,571   $-   $836,942   $909,218   Mercer Street Global  Opportunity Fund, LLC   18.00%*  Matured   991,754    59,259    -    1,051,013    1,139,764   Red Road Holdings Corporation   29.32%**  -   -    -    -    -    41,771       27.77%**  -   -    -    -    -    18,683       32.04%**  -   -    -    -    -    3,109       24.98%**  Matured   19,819    266    -    20,085    -       24.51%**  March 30, 2025   197,001    16,840    (40,043)   173,798    -   Quick Capital LLC   11.12%**  -   -    -    -    -    -       11.03%**  Matured   64,171    -    -    64,171    -                                       2023 and 2024 convertible notes   8.00 to 12.00%  Matured to October 22, 202