---
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"
generated_at: "2026-06-05T15:11:30.834114+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "medium"
source: SEC EDGAR
---

# IPSI issues ~$308k convertible notes, signs non-binding LOI to acquire BZWR

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: medium
- sec_items: 2.03, 8.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-016929
- JSON: https://secwatch.observer/filing/0001213900-24-016929.json
- Plain text: https://secwatch.observer/filing/0001213900-24-016929.txt

## Key facts
- Debt Financings
  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.
  - Instrument: convertible notes
  - Principal: total gross proceeds of approximately $308,000
  - Counterparty: four (4) accredited investment entities
  - Rate: 8% per annum
  - Maturity: 12 months from issuance
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1591913/000121390024016929/0001213900-24-016929-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.