| Schedule of Equity Method Investments Related to IPSIPay Express |
The
Company accounts for its investment in joint ventures in accordance with ASC 323, Investments – Equity Method and Joint
Ventures, the movement in equity method investments for the years ended December 31, 2025 and 2024 is as follow:
| | |
Year ended December 31, | |
| | |
2025 | | |
2024 | |
| Equity method Investment | |
| | | |
| | |
| IPSIPay Express | |
| | | |
| | |
| Cash contribution to IPSIPay Express | |
$ | 999,500 | | |
$ | 999,000 | |
| Fair value of warrants issued to third party joint venture partners | |
| 108,220 | | |
| 108,220 | |
| | |
| 1,107,720 | | |
| 1,107,220 | |
| Equity loss from joint venture | |
| (404,101 | ) | |
| (404,101 | ) |
| | |
| 703,619 | | |
| 703,619 | |
| Receivable from IPSIPay Express | |
| 1,524 | | |
| 1,524 | |
| | |
| 705,143 | | |
| 705,143 | |
| Impairment of investment | |
| (705,142 | ) | |
| (705,142 | ) |
| Net Investment in IPSIPay Express | |
$ | 1 | | |
$ | 1 | |
| | |
| | | |
| | |
| Jetties Partners, LLC | |
| | | |
| | |
| Fair value of equity issued to joint venture partners | |
$ | 4,200,000 | | |
$ | - | |
| Equity loss from joint venture | |
| - | | |
| - | |
| Net Investment in Jetties Partners, LLC | |
$ | 4,200,000 | | |
$ | - | |
| | |
| | | |
| | |
| Equity method investments | |
$ | 4,200,001 | | |
$ | 1 | |
| | |
| | | |
| | |
| Loss from Equity method investments | |
| | | |
| | |
| Loss from joint ventures | |
$ | - | | |
$ | 819 | |
| Impairment of equity method investments | |
| - | | |
| 705,142 | |
| Total loss from equity method investments | |
$ | - | | |
$ | (705,961 | ) |
|