Condensed Consolidated Statements of Operations (Unaudited) - USD ($) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
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Income Statement [Abstract] | ||||
Net Revenue | $ 5 | $ 438 | ||
Cost of Goods Sold | 284 | 2,369 | ||
Gross loss | (279) | (1,931) | ||
General and administrative | 1,057,631 | 769,054 | 2,007,578 | 1,620,580 |
Depreciation and amortization | 139,015 | 4,497 | 279,705 | 8,993 |
Total Expense | 1,196,646 | 773,551 | 2,287,283 | 1,629,573 |
Loss from Operations | (1,196,925) | (773,551) | (2,289,214) | (1,629,573) |
Loss on debt conversion | (18,478) | (18,478) | ||
Penalty on convertible notes | (719,558) | |||
Interest expense | (95,079) | (45,196) | (180,300) | (90,962) |
Amortization of debt discount | (88,687) | (111,654) | (263,200) | |
Derivative liability movements | (1,252,682) | (242,102) | (311,932) | (149,941) |
Loss before Income Taxes | (2,651,851) | (1,060,849) | (2,911,578) | (2,853,234) |
Income Taxes | ||||
Net Loss after income taxes | (2,651,851) | (1,060,849) | (2,911,578) | (2,853,234) |
Net loss from equity method investments | (1,381) | (1,381) | ||
Net loss from continuing operations | (2,653,232) | (1,060,849) | (2,912,959) | (2,853,234) |
Discontinued operations | ||||
Operating loss from discontinued operations | (25,561) | (26,483) | (40,821) | (44,344) |
Loss on disposal of subsidiary and investment | (495,424) | (495,424) | ||
Discontinued operations | (520,985) | (26,483) | (536,245) | (44,344) |
Net loss | (3,174,217) | (1,087,332) | (3,449,204) | (2,897,578) |
Net loss attributable to non-controlling interest | 12,977 | 1,597 | 21,729 | |
Net loss attributable to Innovative Payment Solutions, Inc., stockholders | $ (3,174,217) | $ (1,074,355) | $ (3,447,607) | $ (2,875,849) |
Basic and diluted loss per share | ||||
Continuing operations (in Dollars per share) | $ (0.01) | $ 0 | $ (0.01) | $ (0.01) |
Discontinued operations (in Dollars per share) | 0 | 0 | 0 | 0 |
Basic and diluted loss per share total (in Dollars per share) | $ (0.01) | $ 0 | $ (0.01) | $ (0.01) |
Weighted Average Number of Shares Outstanding – Basic (in Shares) | 377,905,023 | 367,901,679 | 377,403,351 | 367,901,679 |
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- Definition Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. No definition available.
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- Definition Amount of derivative liability movements. No definition available.
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- Definition The amount of income loss from continuing operations after income taxes extra ordinary items noncontrolling interest. No definition available.
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- Definition Loss on debt conversion. No definition available.
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- Definition Loss on disposal of subsidiary and investment. No definition available.
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- Definition Penalty on convertible debt. No definition available.
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount before tax of an increase (decrease) to a gain (loss) previously reported in discontinued operations in a prior period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Interest and debt related expenses associated with nonoperating financing activities of the entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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