Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 1040

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 1040
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 entity or group,
who beneficially owned more than 5% of each of our classes of securities.

We have based our calculations
of the percentage of beneficial ownership on 70,377,731 shares of our common stock on March 30, 2025. We have deemed shares of our common
stock subject to options and warrants that are currently exercisable within sixty (60) days of March 30, 2025, to be outstanding
and to be beneficially owned by the person holding the warrant or restricted stock unit for the purpose of computing the percentage ownership
of that person. We did not deem these, however, for the purpose of computing the percentage ownership of any other person. Unless otherwise
indicated, the principal business address for each of the individuals and entities listed below is 56B 5th Street, Lot
1 #AT, Carmel by the Sea, CA 93921.

We have not deemed shares
of common stock to be outstanding for variable priced convertible notes for the purposes of calculating beneficial ownership.

37

The information provided
in the table is based on our records, information filed with the SEC, and information provided to us, except where otherwise noted.

    Name of Beneficial Owner 
    Amount and Nature of Beneficial Ownership Common Stock Included*  
    Percentage of Common Stock Beneficially Owned 

    William Corbett (Chief Executive Officer) 
     2,183,168(1) 
     3.0%

    Richard Rosenblum (President and Chief Financial Officer) 
     466,668(2) 
     **

    Madisson Butler (Director) 
     273,334(3) 
     ** 

    David Rios (Director) 
     240,001(4) 
     ** 

    All officers and directors as a group (4 persons) 
     3,163,171  
     4.4%

*Excludes any shares deemed
to be outstanding on variable priced convertible securities.

**Less than 1%

    (1)
    Includes (i) 683,167 restricted shares of common stock. (ii) a ten-year option granted to Mr. Corbett on August 16, 2021 exercisable for 666,667 shares of common stock, of which all are vested, and (iii) a ten year option granted to Mr. Corbett on July 11, 2022 exercisable for 500,