---
schema_version: "secwatch.filing_event.v1"
accession: "0001013762-24-003218"
form_type: "8-K"
ticker: "IPSI"
cik: "0001591913"
company_name: "Innovative Payment Solutions, Inc."
filed_at: "2024-07-31T23:59:59+00:00"
generated_at: "2026-05-31T14:23:14.054080+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Innovative Payment Solutions to merge with Business Warrior; CEO Corbett removed, becomes Executive Chairman

## Summary
- Merger: IPSI Merger Sub merges into Business Warrior; Business Warrior holders receive 45% of pro forma IPSI common stock.
- Conditions: Requires stockholder approvals, HSR clearance, effective registration statement, and convertible note exchange agreements.
- Leadership: William Corbett removed as CEO, appointed Executive Chairman; Richard Rosenblum becomes principal executive officer.
- Lock-up: Significant Business Warrior stockholders subject to 12-month lock-up on Merger Consideration shares.
- Termination: Merger may be terminated if not closed within 7 months (extendable to 9 months).

## SEC filing metadata
- accession: 0001013762-24-003218
- form_type: 8-K
- ticker: IPSI
- cik: 0001591913
- company_name: Innovative Payment Solutions, Inc.
- filed_at: 2024-07-31T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1591913/000101376224003218/0001013762-24-003218-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1591913/000101376224003218/ea0210231-8k425_innov.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001013762-24-003218
- JSON: https://secwatch.observer/filing/0001013762-24-003218.json
- Plain text: https://secwatch.observer/filing/0001013762-24-003218.txt

## Key facts
- Executive change
  Richard Rosenblum was appointed as principal executive officer at Innovative Payment Solutions, Inc..
  - Action: appointed
  - Role: principal executive officer
  source text: the Board, pursuant to the powers of the Board provided for under applicable Nevada law and the Bylaws, appointed Richard Rosenblum, the current President and Chief Financial Officer of IPSI, as IPSI’s 'principal executive officer' for all general corporate purposes and for Securities and Exchange Commission reporting purposes.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1591913/000101376224003218/0001013762-24-003218-index.htm
- Executive change
  William D. Corbett was appointed as Executive Chairman at Innovative Payment Solutions, Inc..
  - Action: appointed Executive Chairman; removed as CEO
  - Role: Executive Chairman
  source text: The Board appointed William D. Corbett, the current Chairman of the Board of IPSI, to the office of Executive Chairman and removed Mr. Corbett as IPSI’s Chief Executive Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1591913/000101376224003218/0001013762-24-003218-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.