Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 887

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 887
---
 or chief executive officer with
respect to any matter which may arise relating to the Code of Conduct and Ethics. Further, all of our personnel are to be afforded full
access to our Board of Directors if any such matter involves an alleged breach of the Code of Conduct and Ethics by our president or chief
executive officer.

In addition, our Code
of Conduct and Ethics emphasizes that all employees, and particularly managers and/or supervisors, have a responsibility for maintaining
financial integrity within our company, consistent with generally accepted accounting principles, and federal, provincial and state securities
laws. Any employee who becomes aware of any incidents involving financial or accounting manipulation or other irregularities, whether
by witnessing the incident or being told of it, must report it to his or her immediate supervisor or to our president or chief executive
officer. If the incident involves an alleged breach of the Code of Conduct and Ethics by our president or chief executive officer, the
incident must be reported to any member of our Board of Directors or use of a confidential and anonymous hotline phone number. Any failure
to report such inappropriate or irregular conduct of others is to be treated as a severe disciplinary matter. It is against our company
policy to retaliate against any individual who reports in good faith the violation or potential violation of our Code of Conduct and Ethics
by another. Our Code of Conduct and Ethics is available, free of charge, to any stockholder upon written request to our Corporate Secretary
at Innovative Payment Solutions, 56B 5th Street, Lot 1, #AT, Carmel by the Sea, California, 93921. A
copy of our Code of Conduct and Ethics can be found at www.ipsipay.com.

Composition of
the Board

In accordance with our Articles of Incorporation,
our board is to be elected annually as a single class.

31

Board Committees

We currently do not have
a separate Audit Committee, Nominating, Governance Committee or Compensation Committee. Our full board currently serves as our Audit Committee
and Compensation Committee. Due to the size of our Board of Directors and our company, we believe the structure is sufficient. None of
our directors is considered an “Audit Committee” financial expert. The Audit Committee will review the results and scope of
the audit and other services provided by the independent auditors and review and evaluate the system of internal controls. The Compensation
Committee will manage any stock option plan we may establish and review and recommend compensation arrangements for the officers. The
Nomin