Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 1823

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9C
Chunk 1823
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(3) 
     ** 

    David Rios (Director) 
     240,001(4) 
     ** 

    All officers and directors as a group (4 persons) 
     3,163,171  
     4.4%

*Excludes any shares deemed
to be outstanding on variable priced convertible securities.

**Less than 1%

    (1)
    Includes (i) 683,167 restricted shares of common stock. (ii) a ten-year option granted to Mr. Corbett on August 16, 2021 exercisable for 666,667 shares of common stock, of which all are vested, and (iii) a ten year option granted to Mr. Corbett on July 11, 2022 exercisable for 500,000 shares of common stock at an exercise price of $4.50, all of which are vested, and (iv) a ten year option granted to Mr. Corbett on January 7, 2025 of which 316,667 are vested and a further 16,667 vest within the next 60 days.

(2)Consists of 133,334 shares
of restricted common stock and options exercisable for 333,334 shares of common stock of which all are vested.

(3)Consists of 266,667 shares
of restricted common stock and a ten-year option granted to Ms. Butler on September 15, 2022 exercisable for 6,667 shares of common stock
at an exercise price of $1.20, all of which are vested.

(4)Consists of 233,334 shares
of restricted common stock and a ten-year option granted to Mr. Rios on September 15, 2022 exercisable for 6,667 shares of common
stock at an exercise price of $1.20, all of which are vested.

Item 13. Certain Relationships and Related
Transactions, and Director Independence

Transactions with Related Persons

The following includes
a summary of any transaction occurring during the year ended December 31, 2024 for us and our subsidiaries or any proposed transaction,
in which we and our subsidiaries were or are to be a participant and the amount involved exceeded or exceeds 1% of the average of our
total assets at year end for the last two completed fiscal years, and in which any related person had or will have a direct or indirect
material interest (other than compensation