Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 951

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 951
---
 our
equity in Beyond Fintech to Frictionless was $250,000, resulting in a net loss on disposal of $495,424.

Net loss

Net loss was $4,126,341
and $5,837,357 for the years ended December 31, 2024 and 2023, respectively, a decrease of $1,711,016 or 29.3%. the decrease is primarily
attributable to the decrease in net loss from continuing operations and the decrease in loss on disposal of subsidiary and investment,
as described above.

Net loss attributable
to non-controlling interest

Net loss attributable
to non-controlling interest was $0 and $1,597 for the years ended December 31, 2024 and 2023, respectively, a decrease of $1,597 or 100.0%.
We disposed of our Beyond Fintech subsidiary in the prior year, thereby eliminating minority shareholders’ interests.

Deemed dividend

Deemed dividend was $426,807
and $0 for the years ended December 31, 2024 and 2023, respectively, an increase of $426,807 or 110.0%. the deemed dividend in the current
period related to a full rachet anti-dilution adjustment to certain fixed exercise price warrants issued to a convertible note holder
during the current year. The deemed dividend was recorded as a component of additional paid in capital.

Net loss attributable
to Innovative Payment Solutions Inc., stockholders

Net loss was $4,553,148
and $5,835,760 for the years ended December 31, 2024 and 2023, respectively, a decrease of $1,282,612 or 22.0%. the decrease is primarily
attributable to the decrease in net loss and the deemed dividend discussed above.

26

Liquidity and Capital
Resources

To date, our primary
sources of cash have been funds raised primarily from the sale of our debt and equity securities.

We have an accumulated
deficit of $62.8 million through December 31, 2024 and incurred negative cash flow from operations of $0.65 million for the year ended
December 31, 2024. Our primary focus is on our IPSIPay Express LLC three-way joint venture to develop and market a proprietary consumer
to merchant real-time payment platform initially focused on the fast-growing online gaming and entertainment sectors. To date, this joint
venture has not generated