Innovative Payment Solutions, Inc. — fact timeline

Innovative Payment Solutions, Inc.: Increased the number of authorized shares of the company's common stock (effective 2026-01-21).

“An increase in the number of authorized shares of the Company’s common stock.”

Innovative Payment Solutions, Inc.: Filed Restated Articles of Incorporation increasing authorized common and preferred stock, clarifying capital structure, and authorizing preferred stock series designation (effective 2025-10-03).

“On October 3, 2025, Innovative Payment Solutions, Inc. (the “Company”) filed Restated Articles of Incorporation with the Secretary of State of the State of Nevada.”

William D. Corbett was appointed as Chief Executive Officer at Innovative Payment Solutions, Inc..

“appointed William D. Corbett, the current Executive Chairman of the Company, to the additional office of Chief Executive Officer of the Company.”

Richard Rosenblum resigned as President, Chief Financial Officer, Secretary at Innovative Payment Solutions, Inc..

“On January 7, 2025, Richard Rosenblum provided written notice to the board of directors (the "Board") of Innovative Payment Solutions, Inc., a Nevada corporation (the "Company"), of his resignation as President, Chief Financial Officer, Secretary, and as a member of the Board, effective immediately.”

Richard Rosenblum was appointed as principal executive officer at Innovative Payment Solutions, Inc..

“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.”

William D. Corbett was appointed as Executive Chairman at Innovative Payment Solutions, Inc..

“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.”

Innovative Payment Solutions, Inc. incurred convertible notes of total gross proceeds of approximately $308,000 with four (4) accredited investment entities at 8% per annum maturing 12 months from issuance.

“Between February 6 and February 21, 2024, Innovative Payment Solutions, Inc. (the “ Company ” or “ IPSI ”) entered into Securities Purchase Agreements pursuant to which the Company issued convertible promissory notes (the “ Notes ”) to four (4) accredited investment entities for total gross proceeds of approximately $308,000.”

Innovative Payment Solutions, Inc. shareholders approved Ratification of the appointment of independent registered public accounting firm at the 2023-11-30 meeting.

“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, 2023 was ratified.”

Innovative Payment Solutions, Inc. shareholders approved Election of Directors at the 2023-11-30 meeting.

“Proposal No. 1 – Election of Directors William D. Corbett, Richard Rosenblum, Madisson Butler and David Rios were each elected as a director to serve for a one-year term that expires at the 2024 annual meeting of stockholders or until their successors shall be elected and qualified.”

Innovative Payment Solutions, Inc.: Reverse stock split at ratio of 1-for-30, effective August 24, 2023 for Nevada law purposes and August 30, 2023 for public market purposes, via a second Certificate of Correction to the Articles of Incorporation (effective 2023-08-24).

“On August 11, 2023, the Board approved a second Certificate of Correction amending the Reverse Split ratio to 1-for-30, and the Company subsequently filed such second Certificate of Correction, which serves as the Certificate of Amendment (the “ Certificate of Correction ”), with the Secretary of State of Nevada on August 24, 2023 (the effective date of the Reverse Split for Nevada law purposes). The Reverse Stock Split effective for public market purposes as of August 30, 2023.”

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).

“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 ”).”

Innovative Payment Solutions, Inc. incurred convertible notes of $425,000 at 8% per annum maturing 12 months.

“Between February 13, 2023 and February 17, 2023, Innovative Payment Solutions, Inc. (the “Company”), entered into Securities Purchase Agreements (the “Securities Purchase Agreement”) with 7 accredited investors (collectively the “Investors,” and each an “Investor”), pursuant to which the Company received an aggregate of $425,000 in gross proceeds from the Investors through the initial closing of a private placement issuance of: ● Convertible Notes Promissory (the “Notes” and each a “Note”);”

Innovative Payment Solutions, Inc. entered into Securities Purchase Agreement with 7 accredited investors valued at $425,000 (effective 2023-02-13).

“Between February 13, 2023 and February 17, 2023, Innovative Payment Solutions, Inc. (the “Company”), entered into Securities Purchase Agreements (the “Securities Purchase Agreement”) with 7 accredited investors (collectively the “Investors,” and each an “Investor”), pursuant to which the Company received an aggregate of $425,000 in gross proceeds from the Investors through the initial closing of a private placement issuance of:”

Innovative Payment Solutions, Inc. incurred loan of $482,000 each with Cavalry Fund I LP and Mercer Street Global Opportunity Fund, LLC at ten percent (10%) maturing December 30, 2023.

“the Original Warrants issued on February 16, 2021 were irrevocably exchanged for 12-month non-convertible promissory notes issued to each of Cavalry and Mercer in the amount of $482,000 each (the “Exchange Notes”). This exchange caused the cancellation of the Original Warrants for all purposes. The Exchange Notes have a maturity date of December 30, 2023 and carry an interest rate of ten percent (10%).”

Innovative Payment Solutions, Inc. amended convertible notes of aggregate of $2,264,784, or $1,132,392 for each with Cavalry Fund I LP and Mercer Street Global Opportunity Fund, LLC maturing December 30, 2023.

“or fully reviewed by the SEC). The parties also acknowledged that the principal and accrued interest under the Notes as of December 28, 2022 is equal to an aggregate of $2,264,784, or $1,132,392 for each of Cavalry and Mercer. In addition, as a result of the reduction in the conversion price of the Note, certain other warrants held by third parties will have”

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

“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”

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 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”

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 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”

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

“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”

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

“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”

Richard Rosenblum was elected as director at Innovative Payment Solutions, Inc..

“Mr. Rosenblum was elected to the board of directors of the Company”

Richard Rosenblum was appointed as President and Chief Financial Officer at Innovative Payment Solutions, Inc..

“appointed Richard Rosenblum as President and Chief Financial Officer of the Company.”

David Rios was appointed as Director at Innovative Payment Solutions, Inc..

“On July 22, 2021, the board of directors (the “ Board ”) of Innovative Payment Solutions, Inc. (the “ Company ”) appointed David Rios (“ Mr. Rios ”) to the Board of the Company to serve until the Company’s next annual meeting of shareholders.”

Andrey Novikov resigned as Secretary at Innovative Payment Solutions, Inc..

“On May 31, 2021, Andrey Novikov notified the Board of Directors (the “Board”) of Innovative Payment Solutions, Inc. (the “Company”), of his decision to resign as a member of the Board and as Secretary of the Company, effective as of June 1, 2021.”

Andrey Novikov resigned as Member of the Board of Directors at Innovative Payment Solutions, Inc..

“On May 31, 2021, Andrey Novikov notified the Board of Directors (the “Board”) of Innovative Payment Solutions, Inc. (the “Company”), of his decision to resign as a member of the Board and as Secretary of the Company, effective as of June 1, 2021.”