$IPSI
Innovative Payment Solutions, Inc. Stock $ipsi

$ipsi Overview Financials Valuation SEC Filings Company Website

2022 Q3 Form 10-Q Financial Statement

#000121390022046882 Filed on August 11, 2022

Income Statement

Concept	2022 Q3	2022 Q2	2022 Q1
Revenue			$0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$2.721M	$795.5K	$869.4K
YoY Change	-0.95%	-53.74%	-82.59%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$20.50K	$4.497K	$4.500K
YoY Change	341.81%	0.29%	7.91%
% of Gross Profit
Operating Expenses	$2.742M	$800.0K	$873.9K
YoY Change	-0.38%	-53.6%	-82.5%
Operating Profit	-$2.742M	-$800.0K	-$873.9K
YoY Change	-0.38%	-53.6%	-82.5%
Interest Expense	$33.56K	-$287.3K	-$216.8K
YoY Change	-96.67%	-117.87%	-82.17%
% of Operating Profit
Other Income/Expense, Net	-$602.1K	$0.00	-$719.6K
YoY Change			-1539.12%
Pretax Income	-$3.310M	-$1.087M	-$1.810M
YoY Change	89.92%	835.11%	-84.11%
Income Tax
% Of Pretax Income
Net Earnings	-$3.303M	-$1.074M	-$1.810M
YoY Change	89.48%	823.95%	-84.11%
Net Earnings / Revenue
Basic Earnings Per Share	-$0.01	$0.00	$0.00
Diluted Earnings Per Share	-$0.01	$0.00	-$4.897K
COMMON SHARES
Basic Shares Outstanding	367.9M shares	367.9M shares	367.9M shares
Diluted Shares Outstanding	376.0M shares	367.9M shares	376.9M shares

Balance Sheet

Concept	2022 Q3	2022 Q2	2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$1.353M	$2.532M	$3.363M
YoY Change	-79.28%	-65.18%	-55.72%
Cash & Equivalents	$1.353M	$2.532M
Short-Term Investments
Other Short-Term Assets	$133.9K	$26.72K	$39.33K
YoY Change	126.49%	92.24%	376.15%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$1.487M	$2.559M	$3.402M
YoY Change	-77.44%	-64.88%	-55.25%
LONG-TERM ASSETS
Property, Plant & Equipment	$52.43K	$19.81K	$24.30K
YoY Change	56.8%	-47.99%	-67.44%
Goodwill
YoY Change
Intangibles	$1.198M	$964.7K
YoY Change
Long-Term Investments	$500.0K	$500.0K	$500.0K
YoY Change	0.0%	0.0%
Other Assets	$47.59K	$34.80K	$34.80K
YoY Change	891.46%	625.0%	295.45%
Total Long-Term Assets	$1.798M	$1.519M	$1.426M
YoY Change	128.11%	179.86%	1609.49%
TOTAL ASSETS
Total Short-Term Assets	$1.487M	$2.559M	$3.402M
Total Long-Term Assets	$1.798M	$1.519M	$1.426M
Total Assets	$3.285M	$4.078M	$4.828M
YoY Change	-55.48%	-47.91%	-37.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$574.8K	$404.8K	$522.3K
YoY Change	26.82%	-4.12%	211.46%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$2.211M	$1.797M	$1.753M
YoY Change	54.18%	113.77%	527.66%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$3.496M	$2.759M	$2.590M
YoY Change	26.28%	-25.88%	-49.39%
LONG-TERM LIABILITIES
Long-Term Debt	$162.6K	$161.1K	$159.7K
YoY Change	3.58%	3.61%	3.65%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$162.6K	$161.1K	$159.7K
YoY Change	3.58%	3.61%	3.65%
TOTAL LIABILITIES
Total Short-Term Liabilities	$3.496M	$2.759M	$2.590M
Total Long-Term Liabilities	$162.6K	$161.1K	$159.7K
Total Liabilities	$3.659M	$2.920M	$2.777M
YoY Change	25.06%	-24.7%	-47.34%
SHAREHOLDERS EQUITY
Retained Earnings	-$48.29M	-$44.99M
YoY Change
Common Stock	$37.69K	$36.79K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$389.2K	$1.135M	$2.052M
YoY Change
Total Liabilities & Shareholders Equity	$3.285M	$4.078M	$4.828M
YoY Change	-55.48%	-47.91%	-37.18%

Cashflow Statement

Concept	2022 Q3	2022 Q2	2022 Q1
OPERATING ACTIVITIES
Net Income	-$3.303M	-$1.074M	-$1.810M
YoY Change	89.48%	823.95%	-84.11%
Depreciation, Depletion And Amortization	$20.50K	$4.497K	$4.500K
YoY Change	341.81%	0.29%	7.91%
Cash From Operating Activities	-$867.8K	-$691.7K	-$760.9K
YoY Change	76.91%	11.75%	-1.71%
INVESTING ACTIVITIES
Capital Expenditures	-$298.3K	-$148.8K	-$179.0K
YoY Change	19.34%	1511.81%
Acquisitions
YoY Change
Other Investing Activities	-$12.79K	$0.00	$0.00
YoY Change		-100.0%	-100.0%
Cash From Investing Activities	-$311.1K	-$148.8K	-$179.0K
YoY Change	24.45%	-70.79%	3629.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net			$0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	0.000	9.650K	-1.147M
YoY Change		-98.8%	-113.86%
NET CHANGE
Cash From Operating Activities	-867.8K	-691.7K	-760.9K
Cash From Investing Activities	-311.1K	-148.8K	-179.0K
Cash From Financing Activities	0.000	9.650K	-1.147M
Net Change In Cash	-1.179M	-830.9K	-2.087M
YoY Change	59.2%	157.54%	-127.83%
FREE CASH FLOW
Cash From Operating Activities	-$867.8K	-$691.7K	-$760.9K
Capital Expenditures	-$298.3K	-$148.8K	-$179.0K
Free Cash Flow	-$569.4K	-$543.0K	-$581.9K
YoY Change	136.75%	-10.96%	-24.84%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2022-06-30
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	000-55648
	dei	Entity Registrant Name EntityRegistrantName	INNOVATIVE PAYMENT SOLUTIONS, INC.
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	NV
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	33-1230229
	dei	Entity Address Address Line1 EntityAddressAddressLine1	56B 5th Avenue
	dei	Entity Address Address Line2 EntityAddressAddressLine2	Lot 1 #AT
	dei	Entity Address City Or Town EntityAddressCityOrTown	Carmel By The Sea
	dei	Entity Address State Or Province EntityAddressStateOrProvince	CA
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	93921
	dei	City Area Code CityAreaCode	(866)
	dei	Local Phone Number LocalPhoneNumber	477-4729
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Shell Company EntityShellCompany	false
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	qpag	Increase Decrease In Interest Accruals IncreaseDecreaseInInterestAccruals	2712	usd
	qpag	Increase Decrease In Interest Accruals IncreaseDecreaseInInterestAccruals	91120	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-1452673	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-1393200	usd
	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	327800	usd
	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	500000	usd
	qpag	Investment In Deposits InvestmentInDeposits	4800	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	9234	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-327800	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-514034	usd
	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders	9653	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	4550000	usd
	qpag	Share Issue Expenses ShareIssueExpenses	501100	usd
	us-gaap	Proceeds From Issuance Of Warrants ProceedsFromIssuanceOfWarrants	3009349	usd
	us-gaap	Repayments Of Debt RepaymentsOfDebt	22049	usd
	us-gaap	Repayments Of Short Term Debt RepaymentsOfShortTermDebt	1147063	usd
	us-gaap	Repayments Of Short Term Debt RepaymentsOfShortTermDebt	521000	usd
	qpag	Proceeds From Short Term Notes And Convertible Notes ProceedsFromShortTermNotesAndConvertibleNotes	2569000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-1137410	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	9084200	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	-2917883	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	7176966	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	5449751	usd
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	94703	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	2531868	usd
CY2021Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	7271669	usd
	us-gaap	Interest Paid Net InterestPaidNet	88250	usd
	us-gaap	Interest Paid Net InterestPaidNet	29563	usd
	qpag	Derecognition Of Right Of Use Lease On Early Termination DerecognitionOfRightOfUseLeaseOnEarlyTermination	-34070	usd
	us-gaap	Conversion Of Stock Amount Converted1 ConversionOfStockAmountConverted1	2259221	usd
	us-gaap	Stock Issued1 StockIssued1	2569000	usd
CY2019Q4	qpag	Reverse Stock Split Description ReverseStockSplitDescription	the Company changed its corporate name from “QPAGOS” to “Innovative Payment Solutions, Inc.” Additionally, and immediately following the name change, the Company filed a Certificate of Change with the Secretary of State of the State of Nevada to effect a reverse split of the then outstanding Common Stock at a ratio of 1-for-10, effective on November 1, 2019 (the “Reverse Stock Split”). As a result of the Reverse Stock Split, each ten pre-split shares of Common Stock outstanding automatically combined into one new share of Common Stock without any further action on the part of the holders, and the number of outstanding shares of Common Stock was reduced from 320,477,867 shares to 32,047,817 after rounding for fractional shares.
CY2019	qpag	Stock Purchase Agreement StockPurchaseAgreement	the Company consummated the disposal of Qpagos Corporation, Qpagos Mexico and Redpag in exchange for 2,250,000 shares (the “Vivi Shares”) of common stock of Vivi Holdings, Inc. (“Vivi” or “Vivi Holdings”) pursuant to a Stock Purchase Agreement dated August 5, 2019 (the “SPA”). Of the 2,250,000 shares of Vivi, nine percent (9%) was allocated as follows: Gaston Pereira (5%), Andrey Novikov (2.5%), and Joseph Abrams (1.5%).
CY2021Q3	qpag	Percentage Of Remaining Shares Owned PercentageOfRemainingSharesOwned	0.49	pure
	us-gaap	Use Of Estimates UseOfEstimates	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt"><b>c)</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>Use of Estimates</b></span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions, which are evaluated on an ongoing basis, that affect the amounts reported in the unaudited condensed consolidated financial statements and accompanying notes. Management bases its estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the amounts of revenues and expenses that are not readily apparent from other sources. Actual results could differ from those estimates and judgments. In particular, significant estimates and judgments include those related to, the estimated useful lives for plant and equipment, the fair value of long-lived investments, the fair value of warrants and stock options granted for services or compensation, estimates of the probability and potential magnitude of contingent liabilities, derivative liabilities, the valuation allowance for deferred tax assets due to continuing operating losses and the allowance for doubtful accounts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited condensed consolidated financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from our estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt"><b>f)</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>Risks and Uncertainties</b></span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company’s operations are and will be subject to significant risks and uncertainties including financial, operational, regulatory, and other risks, including the potential risk of business failure. These risks include, without limitation, risks associated with (i) COVID-19 and its variants, (ii) launching and scaling the Company’s products and the use by customers of such products, (iii) developing and implementing successful marketing campaigns and other strategic initiatives; (iv) competition, (iv) compliance with applicable laws, rules and regulations (including those related to fund remittance); (v) the Company’s outstanding indebtedness, including the Company’s ability to repay or extend the maturity of such indebtedness (see Note 8); (vi) inflation and other economic factors and (vii) the Company’s ability to obtain necessary financing. These conditions may not only limit the Company’s access to capital, but also make it difficult for its customers, vendors and the Company to accurately forecast and plan future business activities.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company’s results may also be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, and rates and methods of taxation, among other things. Many of these risks are beyond the Company’s control and are unpredictable. The Company may be unable to adequately manage such risks and similar risks, which could impair the viability of the Company.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
	qpag	Net Income Loss Attributable Noncontrolling Interest NetIncomeLossAttributableNoncontrollingInterest	2897578	usd
CY2022Q2	qpag	Federally Insured Limit FederallyInsuredLimit	2031868	usd
CY2021Q4	qpag	Federally Insured Limit FederallyInsuredLimit	5117551	usd
CY2022Q2	qpag	Equity Methods Investment Ownership Percentage EquityMethodsInvestmentOwnershipPercentage	0.20	pure
CY2022Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	2531868	usd
CY2022Q2	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	2531868	usd
CY2022Q2	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	1000	usd
	qpag	Schedule Of Estimated Useful Lives Of Assets ScheduleOfEstimatedUsefulLivesOfAssets	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="width: 49%; border-bottom: black 1.5pt solid"><span style="font-size: 10pt"><b>Description</b></span></td> <td style="width: 2%"> </td> <td style="width: 49%; border-bottom: black 1.5pt solid"><span style="font-size: 10pt"><b>Estimated Useful Life</b></span></td></tr> <tr> <td> </td> <td> </td> <td> </td></tr> <tr style="background-color: #CCEEFF"> <td><span style="font-size: 10pt">Kiosks (not used in the Company’s current business)</span></td> <td> </td> <td><span style="font-size: 10pt">7 years</span></td></tr> <tr> <td> </td> <td> </td> <td> </td></tr> <tr style="background-color: #CCEEFF"> <td><span style="font-size: 10pt">Computer equipment</span></td> <td> </td> <td><span style="font-size: 10pt">3 years</span></td></tr> <tr> <td> </td> <td> </td> <td> </td></tr> <tr style="background-color: #CCEEFF"> <td><span style="font-size: 10pt">Leasehold improvements</span></td> <td> </td> <td><span style="font-size: 10pt">Lesser of estimated useful life or life of lease</span></td></tr> <tr> <td> </td> <td> </td> <td> </td></tr> <tr style="background-color: #CCEEFF"> <td><span style="font-size: 10pt">Office equipment</span></td> <td> </td> <td><span style="font-size: 10pt">10 years</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p>
CY2021Q3	us-gaap	Proceeds From Issuance Of Private Placement ProceedsFromIssuanceOfPrivatePlacement	250000	usd
CY2021Q3	qpag	Fintech Percentage FintechPercentage	0.51	pure
	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt"><b>s)</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>Reclassification of prior year presentation</b></span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.</p>
CY2021Q3	qpag	Owned Frictionless Financial Technologies OwnedFrictionlessFinancialTechnologies	0.49	pure
CY2021	us-gaap	Proceeds From Issuance Of Private Placement ProceedsFromIssuanceOfPrivatePlacement	375000	usd
CY2022Q2	us-gaap	General Partners Offering Costs GeneralPartnersOfferingCosts	302200	usd
	qpag	Additional Amount Of Software AdditionalAmountOfSoftware	37510	usd
CY2022Q2	qpag	Purchased Technology PurchasedTechnology	964710	usd
CY2021Q4	qpag	Purchased Technology PurchasedTechnology	625000	usd
CY2019	qpag	Investment Description InvestmentDescription	Effective December 31, 2019, the Company sold 100% of the outstanding common stock of its subsidiary, Qpagos Corporation, together with its 99.9% ownership interest of Qpagos Corporation’s two Mexican entities: Qpagos S.A.P.I. de C.V. and Redpag Electrónicos S.A.P.I. de C.V, to Vivi.
	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	2047500	shares
	us-gaap	Gain Loss On Sales Of Assets And Asset Impairment Charges GainLossOnSalesOfAssetsAndAssetImpairmentCharges	1019960	usd
CY2022Q2	us-gaap	Investments Investments	500001	usd
CY2021Q4	us-gaap	Investments Investments	500001	usd
	us-gaap	Lessor Operating Lease Description LessorOperatingLeaseDescription	The lease commenced on April 1, 2021 and is for a twelve month period, terminating on April 1, 2022. The Company applied the practical expedient whereby operating leases with a duration of twelve months or less are expensed as incurred.
	qpag	Expiry Of Lease Term ExpiryOfLeaseTerm	4800	usd
	us-gaap	Operating Lease Expense OperatingLeaseExpense	28800	usd
	us-gaap	Operating Lease Expense OperatingLeaseExpense	17857	usd
	qpag	Schedule Of Other Lease Information ScheduleOfOtherLeaseInformation	<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Six months ended<br/> June 30,</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2022</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six months ended<br/> June 30,<br/> 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Cash paid for amounts included in the measurement of lease liabilities</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Operating cash flows from operating leases</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(28,800</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(39,070</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Remaining lease term – operating lease</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-124">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 10pt">9 months</span></td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p>
	qpag	Operating Cash Flows From Operating Leases OperatingCashFlowsFromOperatingLeases	-28800	usd
	qpag	Operating Cash Flows From Operating Leases OperatingCashFlowsFromOperatingLeases	-39070	usd
	qpag	Remaining Lease Term Operating Lease RemainingLeaseTermOperatingLease	P9M
CY2020Q3	qpag	Disaster Loan Amount DisasterLoanAmount	150000	usd
CY2020Q3	us-gaap	Short Term Debt Interest Rate Increase ShortTermDebtInterestRateIncrease	0.0375	pure
CY2020Q3	qpag	Repayable Installments RepayableInstallments	731	usd
	us-gaap	Debt Instrument Increase Accrued Interest DebtInstrumentIncreaseAccruedInterest	11142	usd
CY2022Q2	us-gaap	Interest Expense Other InterestExpenseOther	43793	usd
CY2021Q2	us-gaap	Interest Expense Other InterestExpenseOther	51667	usd
CY2022Q2	us-gaap	Interest Costs Capitalized InterestCostsCapitalized	0	usd
CY2021Q2	us-gaap	Interest Costs Capitalized InterestCostsCapitalized	509600	usd
	us-gaap	Interest Expense Other InterestExpenseOther	88172	usd
	us-gaap	Interest Expense Other InterestExpenseOther	117459	usd
	us-gaap	Interest Costs Capitalized InterestCostsCapitalized	263200	usd
	us-gaap	Interest Costs Capitalized InterestCostsCapitalized	2623252	usd
CY2021Q1	us-gaap	Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights	2486957	shares
CY2021Q1	us-gaap	Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1 ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1	0.24
CY2022Q2	us-gaap	Derivative Liabilities DerivativeLiabilities	557102	usd
CY2022Q2	us-gaap	Increase Decrease In Derivative Liabilities IncreaseDecreaseInDerivativeLiabilities	242102	usd
	us-gaap	Increase Decrease In Derivative Liabilities IncreaseDecreaseInDerivativeLiabilities	149941	usd
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0	pure
CY2021	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0	pure
CY2021Q4	us-gaap	Derivative Liabilities Current DerivativeLiabilitiesCurrent	407161	usd
CY2020Q4	us-gaap	Derivative Liabilities Current DerivativeLiabilitiesCurrent	2966416	usd
CY2021	qpag	Derivative Financial Liability Arising From Convertible Note DerivativeFinancialLiabilityArisingFromConvertibleNote	2569000	usd
	qpag	Fair Value Adjustment To Derivative Liability FairValueAdjustmentToDerivativeLiability	149941	usd
CY2021	qpag	Fair Value Adjustment To Derivative Liability FairValueAdjustmentToDerivativeLiability	-5128255	usd
CY2022Q2	us-gaap	Derivative Liabilities Current DerivativeLiabilitiesCurrent	557102	usd
CY2021Q4	us-gaap	Derivative Liabilities Current DerivativeLiabilitiesCurrent	407161	usd
	qpag	Restricted Stock Granted Shares RestrictedStockGrantedShares	21495000	shares
	qpag	Restricted Stock Granted Weighted Average Fair Value Per Share RestrictedStockGrantedWeightedAverageFairValuePerShare	0.049
	qpag	Restricted Stock Vested Numbe Shares RestrictedStockVestedNumbeShares	16371250	shares
	qpag	Restricted Stock Vested Weighted Average Fair Value Per Share RestrictedStockVestedWeightedAverageFairValuePerShare	0.049
CY2022Q2	us-gaap	Restricted Stock Expense RestrictedStockExpense	62766	usd
CY2021Q2	us-gaap	Restricted Stock Expense RestrictedStockExpense	72141	usd
	us-gaap	Restricted Stock Expense RestrictedStockExpense	125532	usd
	us-gaap	Restricted Stock Expense RestrictedStockExpense	194282	usd
CY2022Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	25000000	shares
CY2022Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2022Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2021Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2022Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	37304105	shares
	us-gaap	Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2 SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2	P3Y6M25D
CY2022Q2	us-gaap	Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1 SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1	0.12
CY2022Q2	us-gaap	Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions	37304105	shares
CY2022Q2	us-gaap	Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1 SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1	0.12
	us-gaap	Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2 SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2	P3Y6M25D
CY2022Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	0	usd
CY2021Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	0	usd
	qpag	Share Based Compensation Arrangements By Share Based Payment Award Option Outstanding ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionOutstanding	30516666	shares
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1	P9Y1M17D
CY2022Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	0.15
CY2022Q2	qpag	Options Exercisable Number Exercisablein OptionsExercisableNumberExercisablein	19683333	shares
CY2022Q2	qpag	Options Exercisable Weighted Average Exercise Price OptionsExercisableWeightedAverageExercisePrice	0.15
	qpag	Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm	P9Y1M13D
CY2022Q2	qpag	Intrinsic Value Outstanding Options IntrinsicValueOutstandingOptions	0	usd
CY2021Q4	qpag	Intrinsic Value Outstanding Options IntrinsicValueOutstandingOptions	0	usd
CY2022Q2	us-gaap	Stock Option Plan Expense StockOptionPlanExpense	94462	usd
CY2021Q2	us-gaap	Stock Option Plan Expense StockOptionPlanExpense	0	usd
	us-gaap	Stock Option Plan Expense StockOptionPlanExpense	188928	usd
	us-gaap	Stock Option Plan Expense StockOptionPlanExpense	91608	usd
CY2022Q2	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	79800582	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	79800582	shares
CY2021Q2	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	76025215	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	76025215	shares
CY2021Q1	us-gaap	Excess Stock Shares Outstanding ExcessStockSharesOutstanding	208333	shares
CY2021Q1	qpag	Exercise Price Per Share exercisePricePerShare	0.24
CY2021Q3	qpag	Shares Subject To The Options SharesSubjectToTheOptions	0.50	pure
CY2022Q2	us-gaap	Investment Owned Restricted Cost InvestmentOwnedRestrictedCost	133174	usd
CY2021Q4	us-gaap	Investment Owned Restricted Cost InvestmentOwnedRestrictedCost	910019	usd
CY2022Q2	qpag	Consulting Agreement ConsultingAgreement	3500	usd
CY2021Q3	qpag	Related Party Transactions Description RelatedPartyTransactionsDescription	the Company and Mr. Rosenblum entered into an Executive Employment Agreement (the “Employment Agreement”), pursuant to which Mr. Rosenblum will serve as the Company’s President and Chief Financial Officer on a full time basis effective as of July 1, 2021. The effectiveness of the Employment Agreement is subject to the approval of the Employment Agreement by the Board, unless earlier terminated as provided in the Employment Agreement. The term of the Employment Agreement is until December 31, 2024. Mr. Rosenblum’s base salary will be $18,000 per month. In addition, the Employment Agreement provides that: (1) Mr. Rosenblum will be eligible for a cash bonus as determined by the Board to the extent the Company achieves (or exceeds) annual revenue or other financial performance objectives established by the Board, in its sole discretion, from time to time; and (2) the Company will grant to Mr. Rosenblum options to purchase 10,000,000 shares of Common Stock at a per share exercise price equal to the fair market value of the Company’s common stock, as reflected in the closing price of the Company’s common stock on the OTC exchange or, in the event the stock is up listed, on a national stock exchange, on the date of grant (the “Options”)”. Fifty percent (50%) of the shares subject to the Options shall vest on the grant date and the other 50% of the shares subject to the Option shall vest at the rate of 1/36 per month over a three-year period. The Options will be exercisable for a period of ten (10) years after the date of grant and the Company shall provide for cashless exercise of the Option by Executive. The options are being granted pursuant to the Company’s 2021 Stock Incentive Plan which was approved by the Board in August 2021, subject to approval of the 2021 Plan by the shareholders, which approval was obtained at the annual general meeting held on October 22, 2021. The Options are being granted pursuant to the Company’s 2021 Stock Incentive Plan.
	qpag	Annual Base Salary AnnualBaseSalary	0.50	pure
CY2022Q2	us-gaap	Investment Company Fee Waiver Terms InvestmentCompanyFeeWaiverTerms	In addition, the contractor will receive a monthly fee of $3,000 for the term of the Agreement, commencing on August 1, 2022
CY2022Q2	us-gaap	Subsequent Event Effect Of Change In Tax Status SubsequentEventEffectOfChangeInTaxStatus	3000	usd
CY2022Q2	qpag	Penalty On Convertible Notes PenaltyOnConvertibleNotes		usd
	qpag	Loss On Conversion Of Debt To Equity LossOnConversionOfDebtToEquity		usd
	qpag	Penalty On Convertible Debt PenaltyOnConvertibleDebt		usd
	qpag	Deposit Forfeited DepositForfeited		usd
	qpag	Proceeds From Shares Issued For Services ProceedsFromSharesIssuedForServices		usd
	qpag	Amortization Of Right Of Use Asset AmortizationOfRightOfUseAsset		usd
	us-gaap	Increase Decrease In Other Noncurrent Liabilities IncreaseDecreaseInOtherNoncurrentLiabilities		usd
	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets		usd
	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments		usd
	qpag	Investment In Deposits InvestmentInDeposits		usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment		usd
	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders		usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock		usd
	qpag	Share Issue Expenses ShareIssueExpenses		usd
	us-gaap	Proceeds From Issuance Of Warrants ProceedsFromIssuanceOfWarrants		usd
	us-gaap	Repayments Of Debt RepaymentsOfDebt		usd
	qpag	Proceeds From Short Term Notes And Convertible Notes ProceedsFromShortTermNotesAndConvertibleNotes		usd
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet		usd
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet		usd
	qpag	Derecognition Of Right Of Use Lease On Early Termination DerecognitionOfRightOfUseLeaseOnEarlyTermination		usd
	us-gaap	Conversion Of Stock Amount Converted1 ConversionOfStockAmountConverted1		usd
	us-gaap	Stock Issued1 StockIssued1		usd
	qpag	Remaining Lease Term Operating Lease RemainingLeaseTermOperatingLease
CY2022Q2	qpag	Undiscounted Minimum Future Lease Payments UndiscountedMinimumFutureLeasePayments		usd
	qpag	Derivative Financial Liability Arising From Convertible Note DerivativeFinancialLiabilityArisingFromConvertibleNote		usd
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Entity Central Index Key EntityCentralIndexKey	0001591913
	dei	Security Exchange Name SecurityExchangeName	NONE
	dei	Security12b Title Security12bTitle	N/A
	dei	Trading Symbol TradingSymbol	N/A

Files In Submission

Name	View Source	Status
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0001213900-22-046882-index.html	Edgar Link	pending
0001213900-22-046882.txt	Edgar Link	pending
0001213900-22-046882-xbrl.zip	Edgar Link	pending
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f10q0622ex31-1_innovativepay.htm	Edgar Link	pending
f10q0622ex31-2_innovativepay.htm	Edgar Link	pending
f10q0622ex32-1_innovativepay.htm	Edgar Link	pending
f10q0622ex32-2_innovativepay.htm	Edgar Link	pending
f10q0622_innovativepay.htm	Edgar Link	pending
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report.css	Edgar Link	pending
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qpag-20220630_cal.xml	Edgar Link	unprocessable

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$IPSI
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2022 Q3 Form 10-Q Financial Statement

#000121390022046882 Filed on August 11, 2022

Income Statement

Balance Sheet

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$IPSI Innovative Payment Solutions, Inc. Stock $ipsi

2022 Q3 Form 10-Q Financial Statement

#000121390022046882 Filed on August 11, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$IPSI
Innovative Payment Solutions, Inc. Stock $ipsi