{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-24-016929","form_type":"8-K","ticker":"IPSI","cik":"0001591913","company_name":"Innovative Payment Solutions, Inc.","filed_at":"2024-02-26T23:59:59+00:00","discovered_at":"2026-05-14T18:03:24.734169+00:00","generated_at":"2026-06-05T15:11:30.834114+00:00","sec_items":["2.03","8.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"medium","headline":"IPSI issues ~$308k convertible notes, signs non-binding LOI to acquire BZWR","bullets":["Issued unsecured convertible notes to 4 accredited investors for $308k gross; 8% interest, 12-month maturity, conversion at $0.345/share.","Signed non-binding LOI to acquire Business Warrior (BZWR); consideration is 40% of IPSI post-closing common stock.","Note holders of both companies would exchange convertible debt for new Series A Convertible Preferred of IPSI prior to closing.","IPSI loaned BZWR $226,190 (with OID of $67,857) via secured promissory note, convertible at $0.0036/share, secured by receivables.","Transaction subject to due diligence, definitive agreements, and stockholder approvals; no assurance of consummation."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-24-016929","json":"https://secwatch.observer/filing/0001213900-24-016929.json","markdown":"https://secwatch.observer/filing/0001213900-24-016929.md","text":"https://secwatch.observer/filing/0001213900-24-016929.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1591913/000121390024016929/0001213900-24-016929-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1591913/000121390024016929/ea0200695-8k_innov.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-05T15:11:30.834114+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3b33fe47a3b00113f51a4807adff3cbf953621c3","claim":"Innovative Payment Solutions, Inc. incurred convertible notes of total gross proceeds of approximately $308,000 with four (4) accredited investment entities at 8% per annum maturing 12 months from issuance.","evidence_excerpt":"Between February 6 and February 21, 2024, Innovative Payment Solutions, Inc. (the “ Company ” or “ IPSI ”) entered into Securities Purchase Agreements pursuant to which the Company issued convertible promissory notes (the “ Notes ”) to four (4) accredited investment entities for total gross proceeds of approximately $308,000.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1591913/000121390024016929/0001213900-24-016929-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"total gross proceeds of approximately $308,000"},{"label":"Counterparty","value":"four (4) accredited investment entities"},{"label":"Rate","value":"8% per annum"},{"label":"Maturity","value":"12 months from issuance"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}