Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 40

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 40
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    Number
                                            of securities remaining
                                            available for future issuance under equity compensation plans (excluding
                                            securities reflected in column (a)) 

    (a)  
    (b)  
    (c) 
  
    Equity compensation plans approved by security holders 

    2018 Equity Incentive Plan 
     —  
    $—  
     26,667 
  
    2021 Equity Incentive Plan 
     1,513,335  
     4.47  
     253,332 
  
    Equity compensation plans not approved by security holders 

    None 
     —  
     —  
     — 
  
    Total 
     1513,335  
    $4.47  
     279,999 

22

Recent Sales of Unregistered
Securities

On October 10, 2024, the Company entered into
two Securities Purchase Agreements with accredited investors, pursuant to which the Company issued two senior promissory notes each with
a principal amount totaling $66,667 (totaling $133,334), for gross proceeds of $50,000 each (totaling $100,000), including
an aggregate original issuance discount of $16,667 (totaling $33,334), for each note. The notes mature on October 10, 2025 and bear
interest at 8.5% per annum.

On October 22, 2024, the Company entered into
a Securities Purchase Agreement with an accredited investor, pursuant to which the Company received an aggregate of $100,000 through
the issuance of a convertible promissory note and a five-year warrant to purchase an aggregate of 289,855 shares of common
stock, at an exercise price of $0.345 per share (as adjusted for stock splits, stock combinations, dilutive issuances and similar
events). The note matures on October 22, 2025 and bears interest at 8% per annum and are convertible into shares of Common
Stock at a conversion price of $0.084 per share (as adjusted for stock splits, stock combinations, dilutive issuances and similar
events). The note may be prepaid at any time without penalty. The Company is under no obligation to register the shares of Common Stock
underlying the notes or the warrants for public resale.

The note and warrant contain conversion limitations