Company: IPSI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110820
Chunk: 165

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 165
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 of $426,807.

Between August 6, 2024 and September
17, 2024, in terms of conversion notices received from 4 convertible note holders, including the RRH Note 2 described above, the Company
issued 2,365,663 shares of common stock for the conversion of $198,716 of convertible debt at a conversion price of $0.084 per
share, realizing an aggregate loss on conversion of $159,493.

Between January 7, 2025 and September
30, 2025, in terms of conversion notices received from 5 convertible note holders, the Company issued 365,655,485 shares of
common stock for the conversion of $759,011 of convertible debt at a weighted average conversion price of $0.00208 (conversion
prices ranging from ($0.0325 to $0.0005) realizing an aggregate loss on conversion of $935,399.

On September 28, 2025, the Company
entered into a management consulting agreement and granted 2,000,000 shares to the consultant at a fair market price of $0.0235 per share,
totaling $47,000.

b.Restricted
stock awards

On August 19, 2025, The Board of Directors
authorized the issue of 67,500,000 shares of common stock to various parties, including 25,000,000 shares to Mr. Corbett, the Company
CEO. The fair value of the shares on the date of grant was $0.0037 per share, totaling $249,750.

A
summary of restricted stock activity during the period January 1, 2025 to September 30, 2025 is as follows:

    Total restricted shares  
    Weighted average fair market value per share  
    Total unvested restricted shares  
    Weighted average fair market value per share  
    Total 
vested restricted shares  
    Weighted average fair market value per share 
  
    Outstanding January 1, 2025 
     783,167  
    $1.5000  
     -  
    $-  
     783,167  
    $1.50 
  
    Granted and issued 
     67,500,000  
     0.0037  
     -  
     -  
     67,500,000