secwatch.observer — SEC 8-K summary
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Issuer:     Innovative Payment Solutions, Inc. (IPSI)
CIK:        0001591913
Form:       8-K
Filed at:   2022-11-02T23:59:59+00:00
Accession:  0001213900-22-068727
Event type: other
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.07
LLM model:  deepseek-v4-flash:cloud@v2

Shareholders approve reverse stock split; reject preferred stock amendment at annual meeting
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- Elected all five director nominees: William Corbett, Richard Rosenblum, Madisson Corbett, Clifford Henry, David Rios.
- Ratified RBSM LLP as independent auditor for FY2022 with 248.6M shares for, 15M against.
- Approved reverse stock split amendment (1:2 to 1:30) with board discretion until Nov 2, 2024; 255M for, 8.5M against.
- Rejected preferred stock amendment to authorize board to fix designations; 145M for, 18M against, 35.9M abstain.
- Approved adjournment of meeting (not used); 227M for, 3.6M against.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1591913/000121390022068727/0001213900-22-068727-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1591913/000121390022068727/ea167958-8k_innovative.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-068727

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