Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 26

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 26
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 cover for any losses resulting from counterparty and credit risks or fraudulent transactions. We also do not generally maintain separate
funds or otherwise set aside reserves for most types of business-related risks. Accordingly, our lack of insurance coverage or reserves
with respect to business-related risks may expose us to substantial losses, which could materially adversely affect our business, financial
condition and results of operations.

We rely on certain
key personnel and in a dynamic industry like ours, the ability to attract, recruit, retain and develop qualified personnel is critical
to our success and growth.

We rely substantially
on the efforts of our current senior management, including our Chief Executive Officer, William Corbett. Our business would be impeded
or harmed if we were to lose his services. In addition, our business functions at the intersection of rapidly changing technological,
social, economic and regulatory developments that require a wide-ranging set of expertise and intellectual capital. In order for us to
compete and grow successfully, we must attract, recruit, retain and develop the necessary personnel who can provide the needed expertise
across the entire spectrum of our capital needs. This is particularly true with respect to qualified and experienced software engineers
and information technology staff, who are highly sought after. The market for such personnel is highly competitive, and we may not succeed
in recruiting additional personnel or may fail to replace effectively current personnel who depart with qualified or effective successors.
Our efforts to retain and develop personnel may result in significant additional expenses, which could adversely affect our profitability.
We cannot assure you that we will be able to attract and retain qualified personnel in the future. Failure to retain or attract key personnel
could have a material adverse effect on our business, financial condition and results of operations.

15

Risks Relating to Our Securities

There is currently
a limited public trading market for our common stock and one may never develop.

There currently is a
limited public trading market for our securities, and it is not assured that any such public market will develop in the foreseeable future.
Moreover, there can be no assurance that even if our common stock is approved for listing on an exchange or is quoted in the over-the-counter
market in the future, that an active trading market will develop or be sustained. Therefore, we cannot predict the prices at which our
common stock will trade in the future, if at all. As a result, our investors may have limited or no ability to liquidate their investments.

Trading in our common
stock is conducted on the OTCQB, as we currently