Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 1422

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 1422
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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 December 6, 2024, in terms of conversion notices received from 4 convertible note holders, including the RRH Note 2
described above, the Company issued 5,261,557 shares of common stock for the conversion of $441,971 of convertible debt
at a conversion price of $0.084 per share, realizing an aggregate loss on conversion of $170,246.

b.Restricted stock awards

A
summary of restricted stock activity during the period January 1, 2023 to December 31, 2024 is as follows:

    Total restricted shares*  
    Weighted average fair market value per share*  
    Total unvested restricted shares*  
    Weighted average fair market value per share  
    Total vested restricted shares*  
    Weighted average fair market value per share* 
  
    Outstanding January 1, 2023 
     783,167  
    $1.50  
     170,792  
    $1.47  
     612,375  
    $1.50 
  
    Granted and issued 
     -  
     -  
     -  
     -  
     -  
     - 
  
    Forfeited/Cancelled 
     -  
     -  
     -  
     -  
     -  
     - 
  
    Vested 
     -  
     -  
     (170,792) 
     (1.47) 
     170,792  
     1.47 
  
    Outstanding December 31, 2023 
     783,167  
    $1.50  
     -  
    $-  
     783,167  
    $1.50 
  
    Granted and issued 
     -  
     -  
     -  
     -  
     -  
     - 
  
    Forfeited/Cancelled 
     -  
     -  
     -  
     -  
     -  
     - 
  
    Vested 
     -  
     -