Company: IPSI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076595
Chunk: 54

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 54
---
7.54   $2.989    1,530,001   $3.462    7.21  

The options outstanding have an intrinsic
value of $0 as of June 30, 2025 and December 31, 2024.

The option expense was $1,371 and $94,464
for the three months ended June 30, 2025 and 2024, respectively and $19,186 and $188,928 for the six months ended June 30, 2025
and 2024, respectively.

28

INNOVATIVE PAYMENT SOLUTIONS, INC.

Notes to the Unaudited
Condensed Financial Statements

11LOSS
                                            ON SETTLEMENT AND REPRICING OF CONVERTIBLE NOTES

The loss on
settlement and repricing of convertible notes consists of the following:

    Three months ended  
    Three months ended  
    Six months ended  
    Six months ended 

    June 30,  
    June 30,  
    June 30,  
    June 30, 

    2025  
    2024  
    2025  
    2024 
  
    Expense on extension of maturity date of convertible notes 
    $-  
    $36,305  
    $-  
    $102,352 
  
    Penalty on convertible debt 
     22,500  
     -  
     61,729  
     - 
  
    Loss on conversion of convertible debt 
     592,583  
     -  
     699,087  
     - 
  
    Loss on anti-dilution price protection adjustment 
     14,584,238  
     -  
     16,925,718  
     - 

    $15,199,321  
    $36,305  
    $17,686,534  
    $102,352 

Expense
on extension of maturity date of convertible debt

On March 14,
2024, the Company extended the maturity date of 11 convertible notes which matured between February 13, 2024 and February 23, 2024 by
six months and issued the note holders additional warrants exercisable for 387,673 shares of Common Stock, the modification
of the terms and the issue of the new