Subsequent Events

6 Months Ended

Jun. 30, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

18 SUBSEQUENT EVENTS

Between July 18, 2023 and August 4, 2023, the Company, entered into Securities Purchase Agreements with 8 accredited investors, pursuant to which the Company received an aggregate of $576,666 in gross proceeds through a private placement issuance of additional 2023 Notes and additional 2023 Warrants to purchase an aggregate 50,144,870 shares of Common Stock at an exercise price of $0.0115 per share (as adjusted for stock splits, stock combinations, dilutive issuances and similar events).

On August 4, 2023, the Company made an IPSI Capital Contribution of $300,000 to IPSIPay Express, thereby completing its initial Trance contribution (see note 7). With the funding of its initial $500,000 capital contribution to IPSIPay Express, the Company received an 11.11% interest equity interest in IPSIPay Express. Such equity interest will increase to 33.33% upon the funding of next two $500,000 Tranches.

On August 3, 2023, the Company settled in full, the outstanding convertible notes owing to 1800 Diagonal, in the principal amount of $168,180 for gross proceeds of $160,000.

Other than the above, the Company has evaluated subsequent events through the date the financial statements were issued, and did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.