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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current Assets    
Cash $ 155,868 $ 374,765
Other current assets 75,085 97,042
Total Current Assets 230,953 471,807
Non-current assets    
Plant and equipment 25,528 40,362
Intangible assets 1,631,739 1,692,811
Security deposit 47,592 47,592
Investment 500,000 500,000
Total Non-Current Assets 2,204,859 2,280,765
Total Assets 2,435,812 2,752,572
Current Liabilities    
Accounts payable 889,042 761,732
Federal relief loans – current portion 3,217
Notes payable 988,368 964,268
Convertible debt, net of unamortized discount of $228,888 and $0, respectively 2,632,451 2,266,602
Derivative liability 1,609,892 2,550,642
Total Current Liabilities 6,122,970 6,543,244
Non-Current Liabilities    
Federal relief loans 159,952 163,978
Total Non-Current Liabilities 159,952 163,978
Total Liabilities 6,282,922 6,707,222
Equity (Deficit)    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized, and 0 shares issued and outstanding as of March 31, 2023 and December 31, 2022.
Common stock, $0.0001 par value; 750,000,000 shares authorized, 376,901,679 shares issued and outstanding as of March 31, 2023 and December 31, 2022. 37,690 37,690
Additional paid-in-capital 48,788,448 48,405,921
Accumulated deficit (52,673,248) (52,399,858)
Total equity (deficit) attributable to Innovative Payment Solutions, Inc. Stockholders (3,847,110) (3,956,247)
Non-controlling interest 1,597
Total Equity (Deficit) (3,847,110) (3,954,650)
Total Liabilities and Equity (Deficit) $ 2,435,812 $ 2,752,572