Innovative Payment Solutions, Inc. (IPSI) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
56B 5TH AVENUE, LOT 1 #AT CARMEL BY THE SEA, CA 93921 |
| State of Incorp. | NV |
| Fiscal Year End | December 31 |
| Industry (SIC) | 5961 - Catalog and Mail-Order Houses (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) (USD)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 374,765 | 5,449,751 | 94,703 | 2,979 | 71,294 | 19,028 | |||
| Cash and cash equivalents | 374,765 | 5,449,751 | 94,703 | 2,979 | 71,294 | 19,028 | |||
| Receivables | 60,523 | 59,628 | |||||||
| Inventory, net of allowances, customer advances and progress billings | 330,632 | 504,794 | |||||||
| Inventory | 330,632 | 504,794 | |||||||
| Other current assets | 97,042 | 85,034 | 5,270 | 55,059 | 179,139 | 288,687 | |||
| Other undisclosed current assets | 98,493 | 215,990 | |||||||
| Total current assets: | 471,807 | 5,534,785 | 99,973 | 58,038 | 740,081 | 1,088,127 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 51,926 | ✕ | ✕ | ||||||
| Property, plant and equipment | 40,362 | 28,799 | 37,500 | 228,103 | 160,301 | ||||
| Long-term investments and receivables | 500,001 | 1 | 1,019,961 | 3,000 | 3,000 | ||||
| Long-term investments | 500,001 | 1 | 1,019,961 | 3,000 | 3,000 | ||||
| Intangible assets, net (including goodwill) | 1,692,811 | 625,000 | 82,417 | 125,417 | |||||
| Intangible assets, net (excluding goodwill) | 1,692,811 | 625,000 | 82,417 | 125,417 | |||||
| Other noncurrent assets | 10,373 | 6,950 | |||||||
| Other undisclosed noncurrent assets | 547,592 | 34,800 | 4,000 | ||||||
| Total noncurrent assets: | 2,280,765 | 1,188,600 | 93,427 | 1,019,961 | 323,893 | 295,668 | |||
| TOTAL ASSETS: | 2,752,572 | 6,723,385 | 193,400 | 1,077,999 | 1,063,974 | 1,383,795 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 761,732 | 465,205 | 461,577 | 314,523 | 548,891 | 446,032 | |||
| Accounts payable | 761,732 | 465,205 | |||||||
| Other undisclosed accounts payable and accrued liabilities | 461,577 | 314,523 | 548,891 | 446,032 | |||||
| Debt | 3,230,870 | 1,961,354 | 927,274 | 420,993 | 1,484,236 | 1,520,530 | |||
| Derivative instruments and hedges, liabilities | 2,550,642 | 407,161 | 2,966,416 | 905,576 | 3,277,621 | ||||
| Disposal group, including discontinued operation | 43,000 | (43,000) | |||||||
| Due to related parties | ✕ | 4,000 | 30,026 | 136,790 | |||||
| Other undisclosed current liabilities | 61,426 | 43,000 | 2,102,422 | 540,127 | |||||
| Total current liabilities: | 6,543,244 | 2,833,720 | 4,463,693 | 1,671,118 | 4,272,339 | 5,784,310 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 4,602,709 | 7,792 | |||||||
| Long-term debt, excluding current maturities | 4,602,709 | ||||||||
| Operating lease, liability | 7,792 | ✕ | ✕ | ||||||
| Other undisclosed noncurrent liabilities | (4,438,731) | 158,353 | 144,936 | ||||||
| Total noncurrent liabilities: | 163,978 | 158,353 | 160,520 | ||||||
| Total liabilities: | 6,707,222 | 2,992,073 | 4,624,213 | 1,671,118 | 4,272,339 | 5,784,310 | |||
| Equity | |||||||||
| Equity, attributable to parent | (3,956,247) | 3,696,101 | (4,430,813) | (593,119) | (3,208,365) | (4,400,515) | |||
| Common stock | 37,690 | 36,790 | 19,363 | 12,890 | 8,884 | 5,620 | |||
| Additional paid in capital | 48,405,921 | 45,771,012 | 23,179,399 | 21,579,022 | 14,857,769 | 8,494,502 | |||
| Accumulated other comprehensive income | 380,907 | 487,554 | |||||||
| Accumulated deficit | (52,399,858) | (42,111,701) | (27,629,575) | (22,185,031) | (18,455,925) | (13,388,191) | |||
| Equity, attributable to noncontrolling interest | 1,597 | 35,211 | |||||||
| Total equity: | (3,954,650) | 3,731,312 | (4,430,813) | (593,119) | (3,208,365) | (4,400,515) | |||
| TOTAL LIABILITIES AND EQUITY: | 2,752,572 | 6,723,385 | 193,400 | 1,077,999 | 1,063,974 | 1,383,795 | |||
Income Statement (P&L) (USD)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 847 | 7,936,273 | 3,941,273 | |||||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 3,911,561 | |
| Cost of revenue (Cost of Goods and Services Sold) | (5,052) | (7,867,557) | (3,913,953) | |||||
| Gross profit: | (4,205) | 68,716 | 27,320 | |||||
| Operating expenses | (5,673,273) | (10,302,750) | (1,754,508) | (807,934) | (2,574,177) | (2,268,522) | ||
| Operating loss: | (5,677,478) | (10,302,750) | (1,754,508) | (807,934) | (2,505,461) | (2,241,202) | ||
| Nonoperating expense | (3,732,371) | (166,432) | ||||||
| Investment income, nonoperating | ||||||||
| Gain, foreign currency transaction, before tax | 99,878 | 178,555 | ||||||
| Interest and debt expense | (199,788) | (5,498,820) | (433,610) | (2,061,415) | (3,059,573) | (2,071,781) | ||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | (1,178,413) | 4,229,671 | (151,579) | |||||
| Loss from continuing operations before equity method investments, income taxes: | (5,877,266) | (15,801,570) | (2,188,118) | (4,047,762) | (5,067,734) | (4,630,994) | ||
| Loss from equity method investments | ||||||||
| Other undisclosed income (loss) from continuing operations before income taxes | (4,454,158) | 1,306,655 | (3,256,426) | |||||
| Loss from continuing operations: | (10,331,424) | (14,494,915) | (5,444,544) | (4,047,762) | (5,067,734) | (4,630,994) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | (14,494,915) | (5,422,872) | (4,047,762) | (5,067,734) | (4,630,994) | |
| Income (loss) from discontinued operations | 21,672 | |||||||
| Other undisclosed net income | 10,867,416 | 318,656 | ||||||
| Net income (loss): | (10,331,424) | (14,494,915) | 5,444,544 | (3,729,106) | (5,067,734) | (4,630,994) | ||
| Net income attributable to noncontrolling interest | 43,267 | |||||||
| Other undisclosed net loss attributable to parent | (10,889,088) | |||||||
| Net loss available to common stockholders, diluted: | (10,288,157) | (14,494,915) | (5,444,544) | (3,729,106) | (5,067,734) | (4,630,994) | ||
Comprehensive Income (USD)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (10,331,424) | (14,494,915) | 5,444,544 | (3,729,106) | (5,067,734) | (4,630,994) | ||
| Other undisclosed comprehensive loss | (10,889,088) | (380,907) | (106,647) | (242,596) | ||||
| Comprehensive loss: | (10,331,424) | (14,494,915) | (5,444,544) | (4,110,013) | (5,174,381) | (4,873,590) | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 43,267 | |||||||
| Comprehensive loss, net of tax, attributable to parent: | (10,288,157) | (14,494,915) | (5,444,544) | (4,110,013) | (5,174,381) | (4,873,590) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.