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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current Assets    
Cash $ 50,433 $ 373,822
Other current assets 38,818 97,042
Assets held for sale 807,263
Total Current Assets 89,251 1,278,127
Non-current assets    
Plant and equipment 7,027 40,362
Intangible assets 1,401,491
Security deposit 5,000 32,592
Equity method investment 703,938
Total Non-Current Assets 715,965 1,474,445
Total Assets 805,216 2,752,572
Current Liabilities    
Accounts payable 2,023,375 727,922
Liabilities held for sale 33,810
Federal relief loans – current portion 9,369
Notes payable 1,062,007 964,268
Convertible debt, net of unamortized discount of $687,503 and $263,200, respectively 3,704,280 2,266,602
Derivative liability 1,434,196 2,550,642
Total Current Liabilities 8,233,227 6,543,244
Non-Current Liabilities    
Federal relief loans 150,000 163,978
Total Non-Current Liabilities 150,000 163,978
Total Liabilities 8,383,227 6,707,222
Equity (Deficit)    
Preferred stock, $0.0001 par value, 25,000,000 shares authorized, and 0 shares issued and outstanding as of December 31, 2023 and December 31, 2022.
Common stock, $0.0001 par value; 750,000,000 shares authorized, 13,819,889 and 12,563,426 shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively. [1] 1,382 1,256
Additional paid-in-capital [1] 50,656,225 48,442,355
Accumulated deficit (58,235,618) (52,399,858)
Total equity (deficit) attributable to Innovative Payment Solutions, Inc. Stockholders (7,578,011) (3,956,247)
Non-controlling interest 1,597
Total Equity (Deficit) (7,578,011) (3,954,650)
Total Liabilities and Equity (Deficit) $ 805,216 $ 2,752,572
[1] After giving effect to a 1 for 30 reverse stock split on August 30, 2023.