More information and the files can be found here.
Download any homebrew app/game Load up the MSwap Tool Select the EBOOT.PBP you wish to use Select an Output directory Click “Generate files” You’re now left with two directories - MS1 and MS2 Copy the EBOOT.PBP from the MS1 directory to your first memory stick (MS) - X: PSPGAME Remove the first MS and insert the second Copy the EBOOT.PBP from the MS2 directory into X: PSPGAME ” Remove MS2 and insert MS1 Go to the Game menu on your PSP and select Memory Stick Select the PSP-Dev Launcher The moment PSP logo screen comes on, swap memory sticks Vola! You’re playing homebrew on your 1.50 PSP!
PSP Swaploit (PSP Launcher) Homebrew on 1.50!
Posted on Monday, June 20 2005 @ 12:18 CEST by Thomas De Maesschalck
Here's the PlayStation Portable firmware 1.50 exploit which will allow you to run homebrew games or applications: