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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (date of earliest event reported): December 1, 2023 (November 30, 2023)

 

Innovative Payment Solutions, Inc.

(Exact name of registrant as specified in charter)

 

Nevada

(State or other jurisdiction of incorporation)

 

000-55648   33-1230229
(Commission File Number)   (IRS Employer
Identification No.)

 

56B 5th Street, Lot 1

Carmel by the Sea, CA 93921

(Address of principal executive offices)

 

(866) 477-4729

(Registrant’s telephone number, including area code)

 

 

(Former Name and Former Address)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

  

Securities registered pursuant to Section 12(b) of the Act: None

  

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
         

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 

 

☐ Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 5.07 Submission of Matters to a Vote of Security Holders.

 

On November 30, 2023, Innovative Payment Solutions, Inc. (the “Company”) conducted its 2023 annual meeting of stockholders (the “Annual Meeting”). The number of outstanding shares of common stock of the Company entitled to vote at the Annual Meeting as of the October 30, 2023 record date for the Annual Meeting was 13,030,034 shares (the “Voting Stock”). No other shares of the Company’s capital stock were entitled to vote at the Annual Meeting.

 

The number of shares of Voting Stock present or represented by valid proxy at the Annual Meeting was approximately 6,679,149 shares. At the Annual Meeting, the Company’s stockholders (i) elected each of William D. Corbett, Richard Rosenblum, Madisson Butler and David Rios as a director until the Company’s next annual meeting or until their successors shall be elected and qualified, and (ii) ratified the appointment of RBSM LLP as the Company’s independent registered public accounting firm for fiscal year ended December 31, 2023.

 

The following is a tabulation of the voting on the proposals presented at the Annual Meeting:

 

Proposal No. 1 – Election of Directors

 

William D. Corbett, Richard Rosenblum, Madisson Butler and David Rios were each elected as a director to serve for a one-year term that expires at the 2024 annual meeting of stockholders or until their successors shall be elected and qualified. The voting results were as follows:

 

Nominee  Shares Voted For   Shares Withheld   Broker Non-Vote 
William D. Corbett   2,765,213    234,641    3,679,295 
Richard Rosenblum   2,765,213    234,641    3,679,295 
Madisson G. Corbett   2,765,213    234,641    3,679,295 
David Rios   2,939,577    60,277    3,679,295 

 

Proposal No. 2 – Ratification of the appointment of independent registered public accounting firm

 

The appointment of RBSM LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023 was ratified. The voting results were as follows:

 

Shares Voted For   Shares Voted Against   Shares Abstaining   Broker Non-Vote
 6,326,755    42,847    309,547   n/a

 

1

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  INNOVATIVE PAYMENT SOLUTIONS, INC.
   
Dated: December 1, 2023 By: /s/ William D. Corbett
  Name:  William D. Corbett
  Title: Chief Executive Officer

 

 

 

2

 

 

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Nov. 30, 2023
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Entity File Number 000-55648
Entity Registrant Name Innovative Payment Solutions, Inc.
Entity Central Index Key 0001591913
Entity Tax Identification Number 33-1230229
Entity Incorporation, State or Country Code NV
Entity Address, Address Line One 56B 5th Street
Entity Address, Address Line Two Lot 1
Entity Address, City or Town Carmel by the Sea
Entity Address, State or Province CA
Entity Address, Postal Zip Code 93921
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