Company: IPSI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110820
Chunk: 142

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 142
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 maturity dates prior to the filing of these financial statements, to be in default with Business Warrior and negotiations
regarding the repayment of these notes is ongoing.

Loans receivable
consists of the following:

  Description  Interest Rate   Maturity date  Principal   Accrued interest   Unamortized debt discount   September 30, 2025 Amount, net   December 31, 2024 Amount, net   Business Warrior Corporation   0.0%  December 31, 2025  $226,190   $-   $(10,573)  $215,617   $186,771       8.0%  November 1, 2024   30,000    3,077    -    33,077    31,282       8.0%  January 1, 2025   35,000    3,199    -    38,199    36,105       8.0%  February 1, 2025   50,000    4,263    -    54,263    51,271       8.0%  February 1, 2025   15,000    1,266    -    16,266    15,368       8.0%  April 27, 2025   50,000    3,364    -    53,364    50,373   Total Notes receivable          $406,190   $15,169   $(10,573)  $410,786   $371,170  

Discount amortized
to income as deemed interest during the three months ended September 30, 2025 and 2024 was $10,187 and $8,407, respectively, and
$28,846 and $19,614 for the nine months ended September 30, 2025 and 2024, respectively.

Interest
earned for the three months ended September 30, 2025 and 2024 was $3,630 and $1,333, respectively and $10,770 and $1,405 for the nine
months ended September