Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 128

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 128
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 of
our equity securities, to file with the SEC initial reports of ownership and reports of changes in ownership of our Common Stock. Such
officers, directors and persons are required by SEC regulation to furnish us with copies of all Section 16(a) forms that they file with
the SEC.

32

Item 11. Executive Compensation

Summary Compensation
Table

The following table summarizes
all compensation earned in each of the last two fiscal years ended December 31, 2024 and 2023 by our: (i) principal executive officer;
(ii) principal accounting officer and (iii) most highly compensated executive officer other than the principal executive officer who was
serving as an executive officer of our company as of the end of the last completed fiscal year. The tables below reflect the compensation
for the IPSI executive officers who are also named executive officers of the combined company.

    Name and principal position 
    Year 
    Salary  
    Bonus  
    Stock awards  
    Option awards  
    All other comp.  
    Total 
  
    William Corbett, 
    2024 
    $180,000  
    $      -  
    $     -  
    $155,369(a) 
    $2,541(b) 
    $337,910 
  
    Chairman of the Board and Chief Executive Officer (1) 
    2023 
    $360,000  
    $-  
    $-  
    $266,346(a) 
    $15,247(c) 
    $641,594 

    Richard Rosenblum 
    2024 
    $216,000  
    $-  
    $-  
    $65,047(e) 
    $4,063(g) 
    $285,110 
  
    Chief Financial Officer and President (2) 
    2023 
    $216,000  
    $-  
    $-(d) 
    $111,510(e) 
    $19,034(h) 
    $346,544 

    (1)
    Mr. Corbett was appointed as Chief Executive Officer on August 6, 2019 and appointed as Chairman of the board on February 22, 2021.

    (2)
    Mr. Rosenblum was appointed as our President and Chief Financial Officer on July 22, 2021.

    (a