Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 42

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 42
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 and March 21, 2025, The
Company received conversion notices from convertible note holders converting an aggregate of $226,917 into 51,296,285 shares of common
stock at conversion prices ranging from $0.0325 to $0.001105 per share, resulting in a loss on conversion of $101,254.

Issuer Purchases
of Equity Securities

There were no issuer
purchases of equity securities during the fiscal year ended December 31, 2024.

Item 6.  Reserved

Item 7. Management’s Discussion
and Analysis of Financial Condition and Results of Operations

The following discussion
and analysis should be read in conjunction with, and is qualified in its entirety by, our audited annual financial statements and the
related notes thereto, each of which appear elsewhere in this Annual Report. This discussion contains certain forward-looking statements
that involve risks and uncertainties, as described under the heading “About Forward-Looking Statements” in this Annual Report.
Actual results could differ materially from those projected in the forward-looking statements. For additional information regarding these
risks and uncertainties. The Management Discussion and Analysis of Financial Condition and Results of Operations below is based upon
only the financial performance of Innovate Payment Solutions.

Overview

We are a fintech provider
of digital payment solutions presently focused on, through our participation in IPSIPay Express, developing a new account-to-account
payment application called Instant Settlement in RealTime as well as traditional credit card processing services. We have in the past
(under the name IPSIPay) and may in the future develop and operate “e-wallets” that enable consumers to deposit cash, convert
it into a digital form and remit funds quickly and securely.

23

Known Trends, Demands,
Commitments, Events or Uncertainties Impacting Our Business

Development of
IPSIPay Express

Our principal business
as of the date of this Report consists of our participation in the IPSIPay Express joint venture. Since May 2023, we have been working
with our joint venture partners OpenPath and EfinityPay to establish the necessary elements to commercially launch IPEX. This remains
our top business priority. As described in Item 1. Business, we have been responsible for certain key aspects of establishing and launching
IPEX. We will continue these efforts during 2025, and our results of operations for 2024 should be viewed in light of our work on IPEX.
No assurances can be