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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current Assets    
Cash $ 5,449,751 $ 94,703
Other current assets 85,034 5,270
Total Current Assets 5,534,785 99,973
Non-current assets    
Plant and equipment 28,799 37,500
Intangible assets 625,000
Right of use asset 51,926
Security deposit 34,800 4,000
Investment 500,001 1
Total Non-Current Assets 1,188,600 93,427
Total Assets 6,723,385 193,400
Current Liabilities    
Accounts payable 465,205 461,577
Related party payables 4,000
Federal relief loans 60,292
Loans payable 23,633
Convertible debt, net of unamortized discount of $263,200 and $980,852, respectively 1,961,354 903,641
Operating lease liability 44,134
Derivative liability 407,161 2,966,416
Total Current Liabilities 2,833,720 4,463,693
Non-Current Liabilities    
Federal relief loans 158,353 152,728
Operating lease liability 7,792
Total Non-Current Liabilities 158,353 160,520
Total Liabilities 2,992,073 4,624,213
Equity (Deficit)    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized, and 0 shares issued and outstanding as of December 31, 2021 and December 31, 2020.
Common stock, $0.0001 par value; 750,000,000 and 500,000,000 shares authorized, 367,901,679 and 193,637,747 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively. 36,790 19,363
Additional paid-in-capital 45,771,012 23,179,399
Accumulated deficit (42,111,701) (27,629,575)
Total equity (deficit) attributable to Innovative Payment Solutions, inc. Stockholders 3,696,101 (4,430,813)
Non-controlling interest 35,211
Total Equity (Deficit) 3,731,312 (4,430,813)
Total Liabilities and Equity (Deficit) $ 6,723,385 $ 193,400