Innovative Payment Solutions, Inc. (IPSI) AI Dilution Summary

Cash was $48 at 2026-06-30 against estimated monthly burn of $71,030; funding has come through unregistered private placements of notes, most recently one closed 2026-07-16 for $78,000. Dilution is driven primarily by the Mercer Street note, $1,042,701 outstanding at a variable $0.0005 conversion price for 2,594,340,000 shares; Note 11 states the conversion right is variable priced with no fixed floor price.