Company: IPSI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076595
Chunk: 0

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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Item 1. Financial Statements.

INNOVATIVE PAYMENT
SOLUTIONS, INC.

CONDENSED BALANCE SHEETS

    June 30,  
    December 31, 

    2025  
    2024 

    (Unaudited)  

    Assets 

    Current Assets 

    Cash 
    $20,214  
    $526 
  
    Other current assets 
     14,889  
     7,894 
  
    Notes receivable – current portion 
     396,970  
     371,170 
  
    Total Current Assets 
     432,073  
     379,590 

    Non-current assets 

    Plant and equipment 
     3,773  
     4,858 
  
    Equity method investment 
     1  
     1 
  
    Total Non-Current Assets 
     3,774  
     4,859 
  
    Total Assets 
    $435,847  
    $384,449 

    Liabilities and Equity (Deficit) 

    Current Liabilities 

    Bank overdraft 
    $811  
    $- 
  
    Accounts payable 
     2,561,279  
     2,986,039 
  
    Related party payables 
     5,106  
     - 
  
    Federal relief loans – current portion 
     9,810  
     8,869 
  
    Notes payable, net of unamortized discount of $12,512 and $89,062, respectively 
     1,858,883  
     1,669,873 
  
    Convertible debt, net of unamortized discount of $90,198 and $80,971, respectively 
     5,570,192  
     5,016,205 
  
    Convertible debt – related party 
     243,840  
     - 
  
    Derivative liability 
     23,679,183  
     1,138,204 
  
    Total Current Liabilities 
     33,929,104  
     10,819,190 

    Non-Current Liabilities 

    Federal relief loans 
     150,000  
     150,000 
  
    Total Non-Current Liabilities 
     150,