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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Current Assets    
Cash $ 19,395 $ 373,822
Other current assets 49,414 97,042
Assets held for sale 807,263
Total Current Assets 68,809 1,278,127
Non-current assets    
Plant and equipment 7,569 40,362
Intangible assets 1,401,491
Security deposit 15,000 32,592
Equity method investment 704,330
Total Non-Current Assets 726,899 1,474,445
Total Assets 795,708 2,752,572
Current Liabilities    
Accounts payable 1,596,407 727,922
Liabilities held for sale 33,810
Federal relief loans – current portion 3,295
Notes payable 1,037,371 964,268
Convertible debt, net of unamortized discount of $744,914 and $0, respectively 3,455,937 2,266,602
Derivative liability 1,341,932 2,550,642
Total Current Liabilities 7,484,942 6,543,244
Non-Current Liabilities    
Federal relief loans 158,273 163,978
Total Non-Current Liabilities 158,273 163,978
Total Liabilities 7,643,215 6,707,222
Equity (Deficit)    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized, and 0 shares issued and outstanding as of September 30, 2023 and December 31, 2022.
Common stock, $0.0001 par value; 750,000,000 shares authorized, 13,030,034 and 12,563,426 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively. [1] 1,303 1,256
Additional paid-in-capital [1] 50,013,798 48,442,355
Accumulated deficit (56,862,608) (52,399,858)
Total equity (deficit) attributable to Innovative Payment Solutions, Inc. Stockholders (6,847,507) (3,956,247)
Non-controlling interest 1,597
Total Equity (Deficit) [2] (6,847,507) (3,954,650)
Total Liabilities and Equity (Deficit) 795,708 2,752,572
Related Party [Member]    
Current Liabilities    
Related party payables $ 50,000
[1] After giving effect to a 1 for 30 reverse stock split on August 30, 2023.
[2] After giving effect to a 1 for 30 reverse stock split on August 30, 2023.