Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 125

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 125
---
 revenue from $20,000,000 to $100,000,000 in just 18 months and her team accounted for 85% of the net new revenue
generated during the period.

We chose Ms. Butler to
serve as a member of our Board of Directors due to her extensive business and finance experience, which makes her a valuable member of
our Board of Directors.

David Rios, Director.
David Rios was appointed to our Board of Directors on July 22, 2021. Mr. Rios is a currently a philanthropist. Prior to turning
to philanthropy approximately ten years ago, Mr. Rios was the founder, Chairman, and Chief Executive Officer of D.F. Rios
Construction, Inc., the largest framing construction company in the state of California, for over 30 years. Mr. Rios was also
President of the California Framers Association and on the Board of Carpenters. Additionally, Mr. Rios sat on the Board of Pan Pacific
Bank where he was instrumental in closing its acquisition by California Bank of Commerce in December 2015.

We chose Mr. Rios
to serve as a member of our Board of Directors due to his extensive business experience, which makes him a valuable member of our Board
of Directors.

Corporate Governance

Code of Conduct and Ethics

Effective as of May 12,
2016, we adopted a Code of Conduct and Ethics that applies to, among other persons, our president or chief executive officer as well as
the individuals performing the functions of our chief financial officer, corporate secretary and controller. As adopted, our Code of Business
Conduct and Ethics sets forth written standards that are designed to deter wrongdoing and to promote:  

●honest and ethical conduct,
including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

●full, fair, accurate, timely,
and understandable disclosure in reports and documents that we file with, or submit to regulatory agencies, including the SEC;

●the prompt internal reporting
of violations of the Code of Conduct and Ethics to an appropriate person or persons identified in the Code of Conduct and Ethics; and

●accountability for adherence
to the Code of Conduct and Ethics.

Our Code of Conduct and
Ethics requires, among other things, that all of our personnel be afforded full access to our president or chief executive officer with
respect to any matter which may arise relating to the Code of Conduct and Ethics. Further,