Equity Method Investment

6 Months Ended

Jun. 30, 2025

Equity Method Investment [Abstract]

EQUITY METHOD INVESTMENT

5 EQUITY METHOD INVESTMENT

On April 28, 2023, the Company formed IPSIPay Express with OpenPath and EfinityPay (see note 1(b) above). As described in note 1(b), the Company has agreed to make the IPSI Capital Contributions to IPSIPay Express. As of June 30, 2025, the initial Tranche of $500,000 and the second Tranche of $500,000 of capital contributions was paid by the Company to or on behalf of IPSIPay Express.

On December 31, 2024, the company impaired the equity method investment and all receivables from the joint venture by $705,142 due to uncertainty as to the ability of the Joint venture to generate revenues during the foreseeable future.

The Company accounts for its investment in IPSIPay Express in accordance with ASC 323, Investments – Equity Method and Joint Ventures, the equity method investments related to IPSIPay Express as of June 30, 2025 and December 31, 2024 is as follows:

	June 30,			December 31,
	2025			2024
Equity method Investment
Cash contribution to IPSIPay Express	$	999,500		$	999,500
Fair value of warrants issued to third party joint venture partners		108,220			108,220
		1,107,720			1,107,720
Equity loss from joint venture		(404,101	)		(404,101	)
		703,619			703,619
Receivable from IPSIPay Express		1,524			1,524
		705,143			705,143
Impairment of investment		(705,142	)		(705,142	)
Equity method investment	$	1		$	1

The loss from equity method investments for the three and six months ended June 30, 2025 and 2024, is as follows:

	Three months ended		Three months ended			Six months ended		Six months ended
	June 30,		June 30,			June 30,		June 30,
	2025		2024			2025		2024
Loss from joint venture	$	-	$	(88	)	$	-	$	(572	)