Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 569

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 569
---
,167  
    $1.50  
     -  
    $-  
     783,167  
    $1.50 

*After giving effect to a 1
for 30 reverse stock split on August 30, 2023.

F-26

INNOVATIVE PAYMENT
SOLUTIONS, INC.

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

15STOCKHOLDERS’ EQUITY
(continued)

b.Restricted stock awards (continued)

The
restricted stock granted, issued and exercisable at December 31, 2024 is as follows:

    Restricted Stock Granted and Vested 
  
    Grant date Price 
    Number Granted*  
    Weighted Average Fair Value per Share* 
  
    $1.47 
     683,167  
    $1.47 
  
    $1.50 
     33,333  
     1.50 
  
    $1.65 
     66,667  
     1.65 

     783,167  
    $1.50 

*After giving effect to a 1
for 30 reverse stock split on August 30, 2023.

c.Preferred Stock

The
Company has authorized 25,000,000 shares of preferred stock with a par value of $0.0001 authorized. No preferred stock
was issued and outstanding as of December 31, 2024 and December 31, 2023.

d.Warrants

Between February 13, 2023 and November 27, 2023, the Company entered into Securities Purchase Agreements with 30 accredited investors.
In terms of these Securities Purchase Agreements, the Company issued five-year warrants to purchase an aggregate 5,696,586 shares
of the Common Stock at an exercise price of $0.345 per share (as adjusted for stock splits, stock combinations, dilutive issuances
and similar events). The Company is under no obligation to register the shares of Common Stock underlying the 2023 Notes or the 2023 Warrants
for public resale.

On
August 11, 2023, the Company issued an investor a five-year replacement warrant for a warrant that had expired on February 13, 2023 exercisable
for 33,334 shares of Common Stock at an exercise price of $1.50 per share