$IPSI
Innovative Payment Solutions, Inc.

2023 Q4 Form 10-Q Financial Statement

#000121390023086089 Filed on November 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $0.00 -$28.00
YoY Change -100.0%
Cost Of Revenue $790.00 $387.00
YoY Change -84.36%
Gross Profit -$790.00 -$415.00
YoY Change -81.19%
Gross Profit Margin
Selling, General & Admin $823.1K $750.0K
YoY Change -28.71% -72.44%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $630.00 $100.0K
YoY Change -99.39% 387.8%
% of Gross Profit
Operating Expenses $823.6K $846.1K
YoY Change -34.5% -69.14%
Operating Profit -$824.4K -$846.5K
YoY Change -34.65% -69.13%
Interest Expense -$545.0K $83.83K
YoY Change -86.97% 149.79%
% of Operating Profit
Other Income/Expense, Net $9.310K -$20.00K
YoY Change -99.3% -96.68%
Pretax Income -$1.374M -$1.015M
YoY Change -66.69% -69.34%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$1.373M -$1.015M
YoY Change -66.59% -69.26%
Net Earnings / Revenue
Basic Earnings Per Share -$0.08
Diluted Earnings Per Share -$0.10 -$0.08
COMMON SHARES
Basic Shares Outstanding 13.32M shares 379.1M shares
Diluted Shares Outstanding 12.79M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.43K $20.00K
YoY Change -86.54% -98.52%
Cash & Equivalents $50.43K $19.40K
Short-Term Investments
Other Short-Term Assets $38.82K $49.41K
YoY Change -60.0% -63.09%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $89.25K $68.81K
YoY Change -81.08% -95.37%
LONG-TERM ASSETS
Property, Plant & Equipment $7.030K $7.569K
YoY Change -82.58% -85.56%
Goodwill
YoY Change
Intangibles $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Investments $703.9K $704.3K
YoY Change 40.79% 40.87%
Other Assets $5.000K $20.00K
YoY Change -89.49% -57.97%
Total Long-Term Assets $716.0K $726.9K
YoY Change -68.61% -59.57%
TOTAL ASSETS
Total Short-Term Assets $89.25K $68.81K
Total Long-Term Assets $716.0K $726.9K
Total Assets $805.2K $795.7K
YoY Change -70.75% -75.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.023M $1.596M
YoY Change 165.63% 177.72%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $4.766M $4.540M
YoY Change 47.52% 105.36%
Long-Term Debt Due $9.370K $0.00
YoY Change
Total Short-Term Liabilities $8.233M $7.485M
YoY Change 25.83% 114.1%
LONG-TERM LIABILITIES
Long-Term Debt $150.0K $160.0K
YoY Change -8.53% -1.57%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $150.0K $158.3K
YoY Change -8.52% -2.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.233M $7.485M
Total Long-Term Liabilities $150.0K $158.3K
Total Liabilities $8.383M $7.643M
YoY Change 24.99% 108.91%
SHAREHOLDERS EQUITY
Retained Earnings -$58.24M -$56.86M
YoY Change 11.14% 17.75%
Common Stock $1.382K $1.303K
YoY Change -96.33% -96.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$7.578M -$6.848M
YoY Change
Total Liabilities & Shareholders Equity $805.2K $795.7K
YoY Change -70.75% -75.78%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$1.373M -$1.015M
YoY Change -66.59% -69.26%
Depreciation, Depletion And Amortization $630.00 $100.0K
YoY Change -99.39% 387.8%
Cash From Operating Activities -$326.8K -$160.0K
YoY Change -55.93% -81.56%
INVESTING ACTIVITIES
Capital Expenditures $4.410K $40.00K
YoY Change -98.14% -113.41%
Acquisitions
YoY Change
Other Investing Activities $9.570K -$750.0K
YoY Change 5763.96%
Cash From Investing Activities $15.16K -$800.0K
YoY Change -106.41% 157.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 347.3K 920.0K
YoY Change
NET CHANGE
Cash From Operating Activities -326.8K -160.0K
Cash From Investing Activities 15.16K -800.0K
Cash From Financing Activities 347.3K 920.0K
Net Change In Cash 35.66K -40.00K
YoY Change -103.65% -96.61%
FREE CASH FLOW
Cash From Operating Activities -$326.8K -$160.0K
Capital Expenditures $4.410K $40.00K
Free Cash Flow -$331.2K -$200.0K
YoY Change -66.14% -64.88%

Facts In Submission

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dei Document Type
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dei Document Period End Date
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dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
EntityRegistrantName
INNOVATIVE PAYMENT SOLUTIONS, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
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dei Entity Tax Identification Number
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CY2019Q4 ipsi Percentage Of Shares Vivi
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ipsi Capital Contribution
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CY2023Q2 ipsi Tranche Paid
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CY2021Q3 ipsi Percentage Of Remaining Shares Owned
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CY2023Q3 ipsi Fintech Shares
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us-gaap Number Of Operating Segments
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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="font-family: Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> <td style="font-family: Times New Roman, Times, Serif; width: 0.25in"></td><td style="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><b>c)</b></td><td style="font-family: Times New Roman, Times, Serif; text-align: justify"><b>Use of Estimates</b></td> </tr></table><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 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>
us-gaap Concentration Risk Credit Risk
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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="font-family: Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> <td style="font-family: Times New Roman, Times, Serif; width: 0.25in"></td><td style="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><b>f)</b></td><td style="font-family: Times New Roman, Times, Serif; text-align: justify"><b>Risks and Uncertainties</b></td> </tr></table><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) launching and scaling the IPSIPay Express products and the use by customers of such products, (ii) developing and implementing successful marketing campaigns and other strategic initiatives; (iii) 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 notes 11 and 12); (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 0.5in; 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>
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CY2023Q3 ipsi Capital Contribution Second Tranche Amount
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us-gaap Lessor Operating Lease Description
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The lease commenced on April 1, 2021 and is for a twelve month period, terminating on April 1, 2022.
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us-gaap Lessee Operating Lease Description
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CY2021Q1 ipsi Non Convertible Promissory Note
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CY2021Q1 ipsi Debt Instruments Interest Rate Stated Percentage
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CY2021Q1 us-gaap Excess Stock Shares Issued
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CY2022Q4 ipsi Aggregate Amount
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ipsi Black Scholes Valuation Model
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CY2023Q3 us-gaap Senior Notes
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ipsi Holders Amounting
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CY2023Q3 us-gaap Liabilities Subject To Compromise Debt And Accrued Interest
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us-gaap Interest Expense
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CY2023Q3 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
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CY2023Q3 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
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CY2023Q3 ipsi Aggregate Of Gross Proceeds Received
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ipsi Purchase Of Aggregate Shares
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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ipsi Beneficially Own Of Percentage
BeneficiallyOwnOfPercentage
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ipsi Limitation Exceeds Percentage
LimitationExceedsPercentage
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CY2023Q2 us-gaap Convertible Long Term Notes Payable
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CY2023Q3 us-gaap Convertible Long Term Notes Payable
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ipsi Derivative Liability Movement
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0 pure
CY2023Q3 ipsi Derivatives Liability Notional Amount
DerivativesLiabilityNotionalAmount
2550642 usd
CY2022Q4 ipsi Derivatives Liability Notional Amount
DerivativesLiabilityNotionalAmount
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CY2023Q3 ipsi Derivative Financial Liability Arising From Convertible Note
DerivativeFinancialLiabilityArisingFromConvertibleNote
275000 usd
CY2022Q4 ipsi Derivative Financial Liability Arising From Convertible Note
DerivativeFinancialLiabilityArisingFromConvertibleNote
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CY2022Q4 ipsi Derivativefinancialliabilityarisingonnoteamendmentincludedinlossonconvertiblenotes
Derivativefinancialliabilityarisingonnoteamendmentincludedinlossonconvertiblenotes
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CY2023Q3 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
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CY2022Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
411752 usd
CY2023Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
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CY2022Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
2550642 usd
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
750000000 shares
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
13030034 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2023Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
72464 shares
CY2023Q2 ipsi Conversion Of Convertible Debt To Equity
ConversionOfConvertibleDebtToEquity
25000 usd
CY2023Q3 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
72464 shares
CY2023Q3 ipsi Conversion Of Convertible Debt To Equity
ConversionOfConvertibleDebtToEquity
25000 usd
CY2023Q3 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
173914 shares
CY2023Q3 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
60000 usd
CY2023Q3 ipsi Intrinsic Value Outstanding Options
IntrinsicValueOutstandingOptions
0 usd
CY2022Q3 ipsi Intrinsic Value Outstanding Options
IntrinsicValueOutstandingOptions
0 usd
CY2023Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
94464 usd
CY2023Q3 ipsi Conversion Of Convertible Debt To Equity
ConversionOfConvertibleDebtToEquity
50000 usd
ipsi Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Granted And Issued
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestGrantedAndIssued
783167 shares
ipsi Restricted Stock Granted Weighted Average Fair Value Per Share
RestrictedStockGrantedWeightedAverageFairValuePerShare
1.5
CY2023Q3 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
0 usd
CY2022Q3 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
172766 usd
us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
0 usd
us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
298298 usd
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2023Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
us-gaap Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
(i) a cash endorsement fee of Three Hundred Thousand U.S. Dollars ($300,000 USD), payable as follows: (i) One Hundred Twenty-Five Thousand Dollars ($125,000) upon execution of the Endorsement Agreement, (ii) One Hundred Twenty-Five Thousand Dollars ($125,000) quarterly during the Term, beginning on the 90th day following the Effective Date, and (iii) Fifty Thousand Dollars ($50,000) on or prior to the first anniversary of the Effective Date and (ii) warrants exercisable for an aggregate of Five hundred thousand (500,000) shares of the Common Stock at an exercise price of $1.035 per share. The Warrants shall have a three-year term commencing from the Effective Date.
CY2022Q3 ipsi Expiration Dates
ExpirationDates
2027-08-30
ipsi Note Amendment Transaction Description
NoteAmendmentTransactionDescription
the Company entered into the December 2022 Note Amendment Transaction, as fully described in note 11 above. In terms of the Note Amendment Transaction the following occurred: ●The warrants issued to Cavalry and Mercer exercisable for 165,798 shares of Common Stock (82,899 for each of Cavalry and Mercer), were exchanged for two promissory notes of $482,000 each, as disclosed in note 11 above; ●The warrants issued to Cavalry and Mercer on August 30, 2022, were subject to repricing and a full rachet increase in the number of warrants issued, resulting in an increase in the number of warrants by 2,408,696 (1,204,348 to each Cavalry and Mercer) and a reset of the exercise price to $0.345 per share. The additional warrants were valued at $841,003 using a Black-Scholes valuation model and was expensed in the statement of operations as a component of the loss on convertible debt. ●An additional 457,895 warrants previously issued to Mercer, Iroquois Master Fund and Bellridge Capital LP were subject to repricing of the exercise price from a range of $1.50 to $4.50 per share to $0.345 per share. The change in the fair value of these warrants of $20,079, using a Black-Scholes valuation model was recorded as a component of the loss on convertible debt.  
us-gaap Sale Of Stock Percentage Of Ownership Before Transaction
SaleOfStockPercentageOfOwnershipBeforeTransaction
0.0999 pure
ipsi Warrants Exercisable For Shares Of Common Stock
WarrantsExercisableForSharesOfCommonStock
133334 shares
us-gaap Preferred Stock Per Share Amounts Of Preferred Dividends In Arrears
PreferredStockPerShareAmountsOfPreferredDividendsInArrears
0.45
ipsi Purchase Shares Of Common Stock
PurchaseSharesOfCommonStock
166667 shares
ipsi Aggregate Purchase Of Common Stock
AggregatePurchaseOfCommonStock
1333334 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
500000 shares
CY2022Q3 ipsi Options Exercisable Shares
OptionsExercisableShares
6667 shares
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.2
CY2022 ipsi Amount Of Immediate Expense
AmountOfImmediateExpense
31970 usd
CY2022Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
950290 usd
us-gaap Restricted Stock Expense
RestrictedStockExpense
283392 usd
us-gaap Restricted Stock Expense
RestrictedStockExpense
1139220 usd
CY2023Q3 us-gaap Derivative Variable Interest Rate
DerivativeVariableInterestRate
0.60 pure
CY2023Q3 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
usd
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23725499 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23725499 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3978655 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3978655 shares
CY2023Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
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CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
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CY2023Q3 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
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us-gaap Gross Profit
GrossProfit
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CY2022Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2022Q3 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
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CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2022Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2023Q3 us-gaap Discontinued Operation Amount Of Adjustment To Prior Period Gain Loss On Disposal Before Income Tax
DiscontinuedOperationAmountOfAdjustmentToPriorPeriodGainLossOnDisposalBeforeIncomeTax
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CY2023Q3 ipsi Loss On Disposal Of Subsidiary And Investment
LossOnDisposalOfSubsidiaryAndInvestment
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CY2022Q3 ipsi Loss On Disposal Of Subsidiary And Investment
LossOnDisposalOfSubsidiaryAndInvestment
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ipsi Loss On Disposal Of Subsidiary And Investment
LossOnDisposalOfSubsidiaryAndInvestment
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CY2023Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2023Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2022Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.26
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.31
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.50
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.50
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
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us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
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us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
usd
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
usd
ipsi Deposit Refunded From Investment
DepositRefundedFromInvestment
usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
usd
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
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us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
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us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
usd
CY2023Q3 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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ipsi Fair Value Of Warrants Issued With Convertible Notes
FairValueOfWarrantsIssuedWithConvertibleNotes
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us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
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ipsi Fair Value Of Warrants Issued For Equity Method Investment
FairValueOfWarrantsIssuedForEquityMethodInvestment
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CY2022Q3 us-gaap Revenues
Revenues
usd
us-gaap Revenues
Revenues
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CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
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CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
usd
CY2023Q3 ipsi Warrants Exercisable
WarrantsExercisable
shares
CY2022Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
usd
CY2023Q3 ipsi Derivativefinancialliabilityarisingonnoteamendmentincludedinlossonconvertiblenotes
Derivativefinancialliabilityarisingonnoteamendmentincludedinlossonconvertiblenotes
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001591913

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