UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
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 (
(Exact name of registrant as specified in charter)
(State or other jurisdiction of incorporation)
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Securities registered pursuant to Section 12(b) of the Act: None
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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).
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 | |||||||||
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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 | |
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