Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 2176

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7A
Chunk 2176
---
 Stockholders’ Equity (Deficit)

    Preferred stock, $0.0001 par value, 25,000,000 shares authorized, and 0 shares issued and outstanding as of December 31, 2024 and December 31, 2023.

    -

    -

    Common stock, $0.0001 par value; 750,000,000 shares authorized. 19,081,446 and  13,819,889 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively.*

    1,908

    1,382

    Additional paid-in-capital*

    52,202,117

    50,656,225

    Accumulated deficit

    (62,788,766
    )

    (58,235,618
    )
  
    Total Stockholders’ Equity (deficit)

    (10,584,741
    )

    (7,578,011
    )
  
    Total Liabilities and
    Stockholders’ Equity (Deficit)
     
    $
    384,449

    $
    805,216

  * After giving effect to a 1 for 30 reverse stock split on August 30, 2023. 

The accompanying notes
are an integral part of these audited consolidated financial statements.

F-3

INNOVATIVE PAYMENT
SOLUTIONS, INC.

CONSOLIDATED STATEMENTS
OF OPERATIONS

    Twelve months ended  
    Twelve months ended 

    December  
    December 

    2024  
    2023 
  
    Net Revenue 
    $-  
    $410 
  
    Cost of Goods Sold 
     -  
     3,547 

    Gross loss 
     -  
     (3,137)

    General and administrative 
     1,883,257  
     3,576,352 
  
    Depreciation 
     2,169  
     380,634 
  
    Total Expense 
     1,885,426  
     3,956,986 

    Loss from Operations 
     (1,885,426) 
     (3,960,123)

    Loss on convertible notes 
     (4,764,680) 
     (164,323)
  
    Fair value