Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 1571

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 1571
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statements due to error or fraud may occur and may not be detected.
However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the
process safeguards to reduce, though not eliminate, this risk.

Changes in Internal
Control Over Financial Reporting

Other than disclosed
above, there has been no change in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) of the Exchange
Act) that occurred during our year ended December 31, 2024 that has materially affected, or is reasonably likely to materially affect,
our internal control over financial reporting.

This annual report does
not include an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management’s
report was not subject to attestation by our registered public accounting firm pursuant to rules of the SEC that permit us provide only
management’s report in this annual report.

Item 9B. Other
Information

None.

Item 9C. Disclosure
Regarding Foreign Jurisdictions that Prevent Inspections

Not applicable.

29

PART III

Item 10. Directors, Executive Officers
and Corporate Governance

The table below sets
certain information concerning our executive officers and directors, including their names, ages, anticipated positions with us. Our executive
officers are chosen by our Board and hold their respective offices until their resignation or earlier removal by the Board.

In accordance with our
Articles of Incorporation, as amended, incumbent directors are elected to serve until our next annual meeting and until each director’s
successor is duly elected and qualified.

Executive Officers
and Directors

The table below sets
certain information concerning our executive officers and directors, including their names, ages, anticipated positions with us. Our executive
officers are chosen by our board and hold their respective offices until their resignation or earlier removal by the board.

In accordance with our
Articles of Incorporation, as amended, incumbent directors are elected to serve until our next annual meeting and until each director’s
successor is duly elected and qualified.

    Name
     
    Age
     
    Position
  
    William Corbett
     
    65
     
    Chairman of the Board, Chief Executive Officer, and Director
  
    Madisson Butler
     
    36
     
    Director
  
    David Rios
     
    82
     
    Director

Currently, our Board
of Directors consists of four (