XML 12 R2.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current Assets    
Cash $ 3,362,740 $ 5,449,751
Other current assets 39,326 85,034
Total Current Assets 3,402,066 5,534,785
Non-current assets    
Plant and equipment 24,302 28,799
Intangible assets 867,300 625,000
Security deposit 34,800 34,800
Investment 500,001 500,001
Total Non-Current Assets 1,426,403 1,188,600
Total Assets 4,828,469 6,723,385
Current Liabilities    
Accounts payable 522,253 465,205
Convertible debt, net of unamortized discount of $0 and $263,200, respectively 1,753,178 1,961,354
Derivative liability 315,000 407,161
Total Current Liabilities 2,590,431 2,833,720
Non-Current Liabilities    
Federal relief loans 159,740 158,353
Total Non-Current Liabilities 159,740 158,353
Total Liabilities 2,750,171 2,992,073
Equity    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized, and 0 shares issued and outstanding as of March 31, 2022 and December 31, 2021.
Common stock, $0.0001 par value; 750,000,000 and 500,000,000 shares authorized, 367,901,679 shares issued and outstanding as of March 31, 2022 and December 31, 2021. 36,790 36,790
Additional paid-in-capital 45,928,244 45,771,012
Accumulated deficit (43,913,195) (42,111,701)
Total equity attributable to Innovative Payment Solutions, Inc. Stockholders 2,051,839 3,696,101
Non-controlling interest 26,459 35,211
Total Equity 2,078,298 3,731,312
Total Liabilities and Equity $ 4,828,469 $ 6,723,385