Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 845

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 845
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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, 2025   2,623,890    287,234    (40,928)   2,870,196    1,591,735                                       Total convertible notes payable          $4,716,006   $381,170   $(80,971)  $5,016,205   $3,704,280  

   * The Cavalry Fund LLP and Mercer Street Global Opportunity Fund, LLC, notes are accruing interest at the default interest rate of 18% with effect from November 27, 2024, prior to November 27, 2024, interest was accrued at 10% per annum.     ** The Red Road Holdings Corporation and Quick Capital LLC, interest rates are effective interest rates as these convertible notes have a fixed interest charge which is earned on the