Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 942

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 942
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curities available under the Plan is 26,667 shares of Common Stock. The maximum number of shares of Common Stock awarded to any individual
during any fiscal year may not exceed 3,333 shares of Common Stock.

On October 22, 2021,
our board of directors and stockholders established our 2021 Stock Incentive Plan (the “2021 Plan”). The 2021 Plan terminates
after a period of ten years in August 2031.

The maximum number of
securities available under the 2021 Plan is 1,766,667 shares of Common Stock.

Under the 2021 Plan,
we may award the following: (i) non-qualified stock options; (ii)) incentive stock options; (iii) stock appreciation rights; (iv) restricted
stock; (v) restricted stock unit; and (vi) other stock-based awards.

The following presents
certain information regarding our equity incentive plans as of December 31, 2024:

    Plan Category 
    Number of securities to
    be issued upon exercise of outstanding options  
    Weighted- average exercise
    price of outstanding options  
    Number
                                            of securities remaining
                                            available for future issuance under equity compensation plans (excluding
                                            securities reflected in column (a)) 

    (a)  
    (b)  
    (c) 
  
    Equity compensation plans approved by security holders 

    2018 Equity Incentive Plan 
     —  
    $—  
     26,667 
  
    2021 Equity Incentive Plan 
     1,513,335  
     4.47  
     253,332 
  
    Equity compensation plans not approved by security holders 

    None 
     —  
     —  
     — 
  
    Total 
     1513,335  
    $4.47  
     279,999 

22

Recent Sales of Unregistered
Securities

On October 10, 2024, the Company entered into
two Securities Purchase Agreements with accredited investors, pursuant to which the Company issued two senior promissory notes each with
a principal amount totaling $66,667 (totaling $133,334), for gross proceeds of $50,000 each (totaling $100,000), including
an aggregate original issuance discount of $16,667 (totaling