Company: IPSI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076595
Chunk: 154

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 154
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 in a deemed dividend charge and a credit to additional paid in capital 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 June 27,
2025, in terms of conversion notices received from 5 convertible note holders, the Company issued 300,868,611 shares of common
stock for the conversion of $439,108 of convertible debt at a weighted average conversion price of $0.00146 (conversion prices
ranging from ($0.0325 to $0.0005) realizing an aggregate loss on conversion of $699,087.

b.Restricted
stock awards

The restricted stock granted, issued
and exercisable at June 30, 2025 is as follows:

    Restricted Stock Granted and Vested 
  
    Grant date Price  
    Number Granted  
    Weighted Average Fair Value per Share 
  
    $1.47  
     683,167  
    $1.47 
  
    $1.50  
     33,333  
     1.50 
  
    $1.65  
     66,667  
     1.65 

     783,167  
    $1.50 

The Company has recorded an expense
of $0 for the three and six months ended June 30, 2025 and 2024. 

c.Preferred
Stock

The Company
has authorized 25,000,000 shares of preferred stock with a par value of $0.0001 authorized. No preferred stock
was issued and outstanding as of June 30, 2025 and December 31, 2024.

d.Warrants

On March 4,
2024, the Company entered into a Securities Purchase Agreement with an accredited investor. In terms of the Securities Purchase Agreement,
the Company issued a five-year warrant to purchase an aggregate of 357,764 shares of the Common Stock at an exercise price
of $0.345 per