Company: IPSI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110820
Chunk: 15

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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, LLC at its premises located at 732 S 6th Street,
Las Vegas, Nevada, 89101. The lease is for a period of twelve months with a rental expense of $29 per month. This rental agreement provides
the Company with a physical corporate address and access to conference and meeting rooms for an additional fee.

7

INNOVATIVE PAYMENT SOLUTIONS, INC.

Notes to the Unaudited
Condensed Financial Statements

2ACCOUNTING
POLICIES AND ESTIMATES

a)Basis
of Presentation

The accompanying unaudited condensed
financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for
interim financial information with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, these unaudited condensed
financial statements do not include all of the information and disclosures required by U.S. GAAP for complete financial statements. In
the opinion of management, the accompanying unaudited condensed financial statements include all adjustments (consisting only of normal
recurring adjustments), which the Company considers necessary, for a fair presentation of those financial statements. The results of operations
and cash flows for the three and nine months ended September 30, 2025 may not necessarily be indicative of results that may be expected
for any succeeding quarter or for the entire fiscal year. The information contained in this Report should be read in conjunction with
the audited financial statements of IPSI for the year ended December 31, 2024, included in the Company’s Annual Report on Form 10-K
as filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2025.

The accompanying unaudited condensed
financial statements have been prepared in accordance with U.S. GAAP.

All amounts referred to in the notes
to the unaudited condensed financial statements are in United States Dollars ($) unless stated otherwise.

b)Use of Estimates

The preparation of unaudited condensed
financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions, which are evaluated on an ongoing
basis, that affect the amounts reported in the unaudited condensed financial statements and accompanying notes. Management bases its estimates
on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which
form the basis for making judgments about the carrying values of assets and liabilities and the amounts of revenues and expenses that