Initial Statement of Beneficial Ownership (3)
January 31 2020 - 4:16PM
Edgar (US Regulatory)
FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
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3235-0104
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
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Gibbs Jimmy I |
2. Date of Event Requiring Statement (MM/DD/YYYY)
12/6/2019
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3. Issuer Name and Ticker or Trading Symbol
Innovative Payment Solutions, Inc. [IPSI]
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(Last)
(First)
(Middle)
9855 WARREN H. ABERNATHY HIGHWAY |
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_____ Director ___X___ 10% Owner _____ Officer (give title below) _____ Other (specify below)
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(Street)
SPARTANBURG, SC 29301
(City)
(State)
(Zip)
| 5. If Amendment, Date Original Filed(MM/DD/YYYY)
| 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Beneficially Owned
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1.Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock | 19467891 | I | By Gibbs International, Inc. (1) |
Common Stock | 106500 | I | By Gibbs Investment Holdings, LLC (2) |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 4) | 2. Date Exercisable and Expiration Date (MM/DD/YYYY) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Warrant | 12/14/2015 | 12/11/2020 | Common Stock | 40000 | $0.6250 | I | By Gibbs International, Inc. (3) |
Explanation of Responses: |
(1) | These shares are held by Gibbs International, Inc. ("GII"). Jimmy I. Gibbs is an officer, director and the sole shareholder of GII. |
(2) | These shares are held by Gibbs Investment Holdings, LLC ("GIH"). Jimmy I. Gibbs is an equityholder of GIH. |
(3) | The warrant to purchase 40,000 shares of Common Stock in Innovative Payment Solutions, Inc. is held by GII. Jimmy I. Gibbs is an officer, director and the sole shareholder of GII. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Gibbs Jimmy I 9855 WARREN H. ABERNATHY HIGHWAY SPARTANBURG, SC 29301 |
| X |
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Signatures
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/s/ Jimmy I. Gibbs | | 1/31/2020 |
**Signature of Reporting Person | Date |
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