{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-23-051126","form_type":"8-K","ticker":"IPSI","cik":"0001591913","company_name":"Innovative Payment Solutions, Inc.","filed_at":"2023-06-23T23:59:59+00:00","discovered_at":"2026-05-14T18:03:39.566212+00:00","generated_at":"2026-06-13T18:02:38.268669+00:00","sec_items":["1.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Innovative Payment Solutions forms JV for payment processing, to contribute up to $1.5M","bullets":["Entered LLC Operating Agreement for IPSIPay Express, LLC, with Open Path, Inc. and EfinityPay, LLC.","IPSI to contribute cash up to $1.5M in three $500K tranches by Oct 31, 2023; initial $200K funded.","IPSI will issue warrants to OP and EP to purchase up to 40M common shares at average closing price.","Open Path and EfinityPay contribute technology and services; board has one manager from each member.","Joint venture focuses on real-time bank-to-bank payments and credit card processing for gaming/entertainment."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-23-051126","json":"https://secwatch.observer/filing/0001213900-23-051126.json","markdown":"https://secwatch.observer/filing/0001213900-23-051126.md","text":"https://secwatch.observer/filing/0001213900-23-051126.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1591913/000121390023051126/0001213900-23-051126-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1591913/000121390023051126/ea177722-8k_innovative.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T18:02:38.268669+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d232d170fa965ac832a441ec863cd3395f0ada74","claim":"Innovative Payment Solutions, Inc. entered into Limited Liability Company Operating Agreement with Open Path, Inc. and EfinityPay, LLC valued at up to $1,500,000 (effective 2023-04-28).","evidence_excerpt":"On June 19, 2023, Innovative Payment Solutions, Inc. (the “ Company ”) entered into a Limited Liability Company Operating Agreement (the “ Agreement ”) with Open Path, Inc. (“ Open Path ”) and EfinityPay, LLC (“ EfinityPay ”, and the Company, collectively with Open Path and EfinityPay, the “ Members ”), to jointly provide for the governance of and rights of the Members with respect to IPSIPay Express, LLC, a Delaware liability company formed by the Members on April 28, 2023 (“ IPSIPay Express ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1591913/000121390023051126/0001213900-23-051126-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Open Path, Inc. and EfinityPay, LLC"},{"label":"Value","value":"up to $1,500,000"},{"label":"Effective","value":"2023-04-28"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}