secwatch / observer
8-K filed November 2, 2022, 7:59 PM ET ticker IPSI CIK 0001591913
other confidence high sentiment neutral materiality 0.55

Shareholders approve reverse stock split; reject preferred stock amendment at annual meeting

Innovative Payment Solutions, Inc.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Innovative Payment Solutions, Inc. shareholders rejected Approval of an amendment to the Company’s Articles of Incorporation to provide the board of directors with the authority to, at its discretion, fix by resolution or resolutions, the designations, rights and privileges of the Company’s authorized preferred stock at the 2022-11-02 meeting.

Proposal
charter amendment
Outcome
failed
Meeting
2022-11-02
Exact text from the filing
Proposal No. 4 – Approval of an amendment to the Company’s Articles of Incorporation to provide the board of directors with the authority to, at its discretion, fix by resolution or resolutions, the designations, rights and privileges of the Company’s authorized preferred stock An amendment to the Company’s Articles of Incorporation to provide the Company’s board of directors with the authority, at its discretion, to fix by resolution or resolutions, the designations, rights, and privileges of the Company’s authorized preferred stock was not approved. The voting results were as follows: Shares Voted For Shares Voted Against Shares Abstaining Broker Non-Vote 145,049,250 18,118,135 35,943,843 66,207,502
View on SEC.gov
Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Innovative Payment Solutions, Inc. shareholders approved Ratification of the appointment of independent registered public accounting firm at the 2022-11-02 meeting.

Proposal
auditor ratification
Outcome
passed
Meeting
2022-11-02
Exact text from the filing
Proposal No. 2 – Ratification of the appointment of independent registered public accounting firm The appointment of RBSM LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2022 was ratified. The voting results were as follows: Shares Voted For Shares Voted Against Shares Abstaining Broker Non-Vote 248,607,355 15,029,345 1,682,030 n/a
View on SEC.gov
Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Innovative Payment Solutions, Inc. shareholders approved Election of Directors at the 2022-11-02 meeting.

Proposal
director election
Outcome
passed
Meeting
2022-11-02
Exact text from the filing
Proposal No. 1 – Election of Directors William D. Corbett, Richard Rosenblum, Madisson G. Corbett, Clifford Henry and David Rios were each elected as a director to serve for a one-year term that expires at the 2022 annual meeting of stockholders or until their successors shall be elected and qualified. The voting results were as follows: Nominee Shares Voted For Shares Withheld Broker Non-Vote William D. Corbett 177,223,133 21,888,095 66,207,502 Richard Rosenblum 147,563,408 51,547,820 66,207,502 Madisson G. Corbett 163,353,921 35,757,307 66,207,502 Clifford W. Henry 147,365,918 51,745,310 66,207,502 David Rios 147,162,003 51,949,225 66,207,502
View on SEC.gov
Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Innovative Payment Solutions, Inc. shareholders approved Approval of an amendment to the Company’s Articles of Incorporation to effect a reverse stock split of the issued and outstanding shares of common stock at a ratio to be determined in the discretion of the board of directors within a range of one (1) share of common stock for every two (2) to thirty at the 2022-11-02 meeting.

Proposal
reverse split
Outcome
passed
Meeting
2022-11-02
Exact text from the filing
Proposal No. 3 – Approval of an amendment to the Company’s Articles of Incorporation to effect a reverse stock split of the issued and outstanding shares of common stock at a ratio to be determined in the discretion of the board of directors within a range of one (1) share of common stock for every two (2) to thirty (30) shares of common stock An amendment to the Company’s Articles of Incorporation to effect the reverse stock split at a ratio to be determined at the discretion of the Company’s board of directors during a two year period ending on November 2, 2024 within a range of one (1) share of common stock for every two (2) to thirty (30) shares of common stock was approved. The voting results were as follows: Shares Voted For Shares Voted Against Shares Abstaining Broker Non-Vote 255,141,894 8,538,514 1,638,322 n/a
View on SEC.gov
Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Innovative Payment Solutions, Inc. shareholders approved Approval of the adjournment of the Annual Meeting at the 2022-11-02 meeting.

Outcome
passed
Meeting
2022-11-02
Exact text from the filing
Proposal No. 5 – Approval of the adjournment of the Annual Meeting The adjournment of the annual meeting was approved, although no adjournment was undertaken. The voting results were as follows: Shares Voted For Shares Voted Against Shares Abstaining Broker Non-Vote 227,272,420 3,550,119 34,496,191 n/a
View on SEC.gov

Browse all shareholder votes →

Innovative Payment Solutions, Inc. filing history →

Source: SEC EDGAR
accession 0001213900-22-068727
Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.