Company: IPSI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076595
Chunk: 161

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 161
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incentives and rewards to encourage them to enter into and continue in the employ or service of the Company, to acquire a proprietary
interest in the long-term success of the Company and to reward the performance of individuals in fulfilling long-term corporate objectives.
The Plan terminates after a period of ten years in August 2031.

The 2021 Plan is administered by the
Board or a Compensation Committee appointed by the Board, who have the authority to administer the Plan and to exercise all the powers
and authorities specifically granted to it under the Plan.

The maximum number of securities available
under the 2021 Plan is 1,766,667 shares of Common Stock.

Under the 2021 Plan the Company may
award the following: (i) non-qualified stock options; (ii)) incentive stock options; (iii) stock appreciation rights; (iv) restricted
stock; (v) restricted stock unit; and (vi) other stock-based awards.

27

INNOVATIVE PAYMENT SOLUTIONS, INC.

Notes to the Unaudited
Condensed Financial Statements

10STOCKHOLDERS’
EQUITY (continued)

e.Stock
options (continued)

During 2024, options exercisable for 6,667 shares
of Common Stock expired due to the resignation of a director whose options were not exercised in accordance with the terms allowed under
the plan and were therefore canceled.

On January 7, 2025, in terms of an
employment agreement entered into with Mr. Corbett, the Company awarded him ten year options exercisable for 600,000 shares
of common stock at an exercise price of $0.09 per share.

On April 15, 2025, options exercisable
for 333,334 shares of Common Stock expired due to the resignation of the Company’s CFO whose options were not exercised in accordance
with the terms allowed under the plan and were therefore cancelled.

The fair value
of the options granted were determined by using a Black Scholes valuation model using the following assumptions:

    Six months ended June
    30, 2025 
  
    Exercise price 
    $0.09 
  
    Risk free interest rate 
     4.67%
  
    Expected life 
     Ten years 
  
    Expected volatility of underlying stock 
     200.7%
  
    Expected dividend rate 
     0%

A summary of option activity during
the period January 1,