IPSI — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-14

• We have consolidated our interest in Jetties Partners, LLC as we are deemed to be the primary beneficiary of Jetties Partners, LLC because we have the power to direct activities that most significantly impact the entity’s economic performance and hold the obligation to absorb significant losses. The…

• On April 10, 2026, the Company formed, FINAP USA, LLC (“FINAP USA”) and on April 27, 2026, the Company entered into a limited liability operating agreement with FINAP Worldwide Co. W.L.L (“FINAP”), whereby FINAP USA was owned 50% by the Company and 50% by FINAP, the sole purpose of which is to hold …

• FAPL is the owner of certain financial technology platforms, software systems, and associated intellectual property and Cixor is the owner of certain payment technology platforms, software systems and associated intellectual property. FAPL and Cixor have agreed to license their technology platforms …

• We have consolidated FINAP USA, LLC as we are deemed to be the primary beneficiary of FINAP USA, LLC because we have the power to manage the day-to-day affairs and direct activities that most significantly impact the entity’s economic performance and hold the obligation to absorb significant losses.…

• The Company intends using the license agreements acquired to pursue payment processing opportunities as well as cross-selling opportunities to potential customers.

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• As of March 31, 2026, we calculated that the potential dilutive impact of conversion of the convertible notes is a total of 669,844,166 shares of common stock. However, a forbearance agreement with certain significant convertible note holders expired on May 1, 2026, resulting in a fixed conversion p…

• Results of Operations for the Three Months Ended March 31, 2026 and 2025

• We had no revenues for the three months ended March 31, 2026 and 2025. We pivoted to focus our attention on the Jetties IPSIPay joint venture and potential payment processing opportunities to generate revenues, however there can be no guarantees that we will be successful in our endeavors.

• The Company will, through its joint venture operations, earn a commission percentage of the gross amount of transactions processed through the payment processing platforms its owns or licenses from third parties. The income will be disclosed as equity investment income earned from our joint ventures…

• We had no cost of goods sold for the three months ended March 31, 2026 and 2025.

Text added vs the prior filing · source: 10-Q · 2026-08-14

• The AAA arbitration hearing has now concluded as to all witnesses. Closing briefs from both sides are due by September 4, 2026, to the Honorable Arbitrator Epstein. Once the briefs have been delivered, Arbitrator Epstein will take sixty days to issue his ruling.