Innovative Payment Solutions (Innovative Payment Solutions) Beneish M-Score : 0.00 (As of Jun. 08, 2024)

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What is Innovative Payment Solutions Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for Innovative Payment Solutions's Beneish M-Score or its related term are showing as below:

During the past 11 years, the highest Beneish M-Score of Innovative Payment Solutions was -3.76. The lowest was -26.10. And the median was -16.75.

Innovative Payment Solutions Beneish M-Score Historical Data

The historical data trend for Innovative Payment Solutions's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Innovative Payment Solutions Beneish M-Score Chart

Innovative Payment Solutions Annual Data

Trend

Oct14

Oct15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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Innovative Payment Solutions Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Innovative Payment Solutions's Beneish M-Score

For the Software - Infrastructure subindustry, Innovative Payment Solutions's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Innovative Payment Solutions's Beneish M-Score Distribution in the Software Industry

For the Software industry and Technology sector, Innovative Payment Solutions's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Innovative Payment Solutions's Beneish M-Score falls into.

Innovative Payment Solutions Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Innovative Payment Solutions for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + -0.001 + 0 + 0 = $-0.00 Mil.
Total Current Assets was $0.02 Mil.
Total Assets was $0.90 Mil.
Property, Plant and Equipment(Net PPE) was $0.01 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.24 Mil.
Selling, General, & Admin. Expense(SGA) was $3.25 Mil.
Total Current Liabilities was $8.41 Mil.
Long-Term Debt & Capital Lease Obligation was $0.15 Mil.
Net Income was -0.331 + -1.373 + -1.015 + -3.174 = $-5.89 Mil.
Non Operating Income was 0.75 + -0.06 + 0.647 + -1.271 = $0.07 Mil.
Cash Flow from Operations was -0.203 + -0.328 + -0.156 + -0.245 = $-0.93 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0 + 0.001 + 0 + 0 = $0.00 Mil.
Gross Profit was -0.002 + -0.004 + 0 + 0 = $-0.01 Mil.
Total Current Assets was $0.23 Mil.
Total Assets was $2.44 Mil.
Property, Plant and Equipment(Net PPE) was $0.03 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.27 Mil.
Selling, General, & Admin. Expense(SGA) was $5.55 Mil.
Total Current Liabilities was $6.12 Mil.
Long-Term Debt & Capital Lease Obligation was $0.16 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(0 / 0)	/	(0 / 0.001)
	=		/	0
	=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(-0.006 / 0.001)	/	(-0.001 / 0)
	=	-6	/
	=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (0.019 + 0.006) / 0.897)	/	(1 - (0.231 + 0.026) / 2.436)
	=	0.972129	/	0.894499
	=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	0	/	0.001
	=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(0.269 / (0.269 + 0.026))	/	(0.241 / (0.241 + 0.006))
	=	0.911864	/	0.975709
	=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(3.254 / 0)	/	(5.551 / 0.001)
	=		/	5551
	=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((0.15 + 8.414) / 0.897)	/	((0.16 + 6.123) / 2.436)
	=	9.54738	/	2.579228
	=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-5.893 - 0.066	-	-0.932)	/	0.897
	=	-5.604236

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Innovative Payment Solutions Beneish M-Score Related Terms

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Innovative Payment Solutions (Innovative Payment Solutions) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Innovative Payment Solutions Inc (OTCPK:IPSI) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

56B 5th Street, Lot 1, Suite AT, Carmel by the Sea, CA, USA, 93921

Website

https://www.ipsipay.com

Innovative Payment Solutions Inc provides an integrated network of kiosks, terminals, and payment channels that enable consumers to deposit cash, convert it into a digital form, and remit the funds to any merchant in its network quickly and securely.

Executives

Richard Rosenblum	10 percent owner, other: President and CFO	19 HORIZON DRIVE, WAYNE NJ 07470
David F Rios	director	14924 DIDUCA WAY, LOS GATOS CA 95032
Clifford W. Henry	director	PO BOX 1148, ZEPHYR COVE NV 89449-1148
Madisson Gracee Corbett	director	19355 BUSINESS CENTER DRIVE., #9, NORTHRIDGE CA 91324
James W Fuller	director	C/O BAYTREE CAPITAL ASSOCIATES LLC, 40 WALL STREET, 58TH FLOOR, NEW YORK NY 10005
Andrey Novikov	director, officer: CHIEF TECHNOLOGY OFFICER	19355 BUSINESS CENTER DRIVE , #9, NORTHRIDG CA 91324
William D. Corbett	director, officer: Chief Executive Officer	1720 W DIVISION STREET, 3RD FLOOR, CHICAGO IL 606622
Jimmy I Gibbs	10 percent owner	9855 WARREN H. ABERNATHY HIGHWAY, SPARTANBURG SC 29301
Mark John Korb	officer: Chief Financial Officer	1900 GLADES ROAD, SUITE 435, BOCA RATON FL 33431
Gaston Singh Pereira	director, officer: Chairman of the Board and CEO	1900 GLADES ROAD, SUITE 265, BOCA RATON FL 33431
Sarmad Singh Harake	director	1900 GLADES ROAD, SUITE 265, BOCA RATON NY 33431