Company: IPSI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044146
Chunk: 143

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 143
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 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.

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

    Three
 months
 ended March 31, 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, 2024 to March 31, 2025 is as follows:

    Shares
Underlying
options

    Exercise
price per
share

    Weighted
average
exercise
price

    Outstanding January 1, 2024

    1,520,002

    $
    1.20 to 12.00

    $
    4.46

    Granted

    -

    -

    -

    Forfeited/Cancelled

    (6,667
    )

    1.20

    1.20

    Exercised

    -

    -

    -

    Outstanding December 31, 2024

    1,513,335

    $
    1.20 to 12.00

    $
    4.47

    Granted

    600,000

    0.09

    0.09

    Forfeited/Cancelled

    -

    -

    -

    Exercised

    -

    -

    -

    Outstanding March 31, 2025

    2,113,335

    $
    0.09 to 12.00

    $
    3.227

The options outstanding and exercisable
at March 31, 2025 are as follows:

        Options Outstanding     Options Exercisable    Exercise Price*     Number
Outstanding     Weighted
Average
Remaining
Contractual
life in years     Weighted
Average
Exercise
Price     Number
Exercisable     Weighted
Average
Exercise
Price     Weighted
Average
Remaining
Contractual
life in years    $ 0.09       600,000