IPSI Innovative Payment Solutions Inc (QB)

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

On October 22, 2021, Innovative Payment Solutions, Inc. (the “Company”) conducted its 2021 annual meeting of stockholders (the “Annual Meeting”). The number of shares of common stock entitled to vote at the Annual Meeting was 353,951,679 shares outstanding as of the record date (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 254,893,713 shares. At the Annual Meeting, the Company’s stockholders (i) elected each of William D. Corbett, Richard Rosenblum, James Fuller, Madisson Corbett, Clifford Henry and David Rios as a director until the Company’s next annual meeting or until their successors shall be elected and qualified, (ii) ratified the appointment of RBSM LLP as the Company’s independent registered public accounting firm for fiscal year 2021, (iii) approved an amendment to the Company’s Articles of Incorporation to effect a reverse stock split of the issued and outstanding shares of common stock at a ratio to be determined in the discretion of the board of directors within a range of one (1) share of common stock for every two (2) to thirty (30) shares of common stock, (iv) approved an amendment to the Company’s Articles of Incorporation to increase the number of authorized shares of common stock of the Company from 500,000,000 shares to 750,000,000 shares, (v) approved the Company’s 2021 Stock Incentive Plan, (vi) approved the adjournment of the Annual Meeting, (vii) approved the advisory vote on the approval of executive compensation, and (viii) approved a three-year frequency for holding an advisory vote on approval of executive compensation on executive compensation. The Company’s stockholders did not approve the amendment to the Company’s Articles of Incorporation to provide the board with the authority to, at its discretion, fix by resolution or resolutions, the designations, rights and privileges of the company’s preferred stock. 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, James Fuller, Madisson G. Corbett, Clifford Henry and David Rios were each elected as a director to serve for a one-year term that expires at the 2022 annual meeting of stockholders or until their successors shall be elected and qualified. The voting results were as follows:

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, 2021 was ratified. The voting results were as follows:

Proposal No. 3 – Approval of Amendment to the Company’s Articles of Incorporation to Effect a Reverse Stock Split of the Issued and Outstanding Shares of Common Stock at a Ratio To Be Determined in the Discretion of the Board of Directors Within a Range of One (1) Share of Common Stock for Every Two (2) to Thirty (30) Shares of Common Stock

An amendment to the Company’s Articles of Incorporation to effect the reverse stock split at a ratio to be determined at the discretion of the Board within a range of one (1) share of common stock for every two (2) to thirty (30) shares of common stock was approved. The voting results were as follows:

Proposal No. 4 – Approval of Amendment to the Company’s Articles of Incorporation to increase the authorized shares of common stock from 500,000,000 shares to 750,000,000 shares

An amendment to the Company’s Articles of Incorporation to the authorized shares of common stock from 500,000,000 shares to 750,000,000 shares was approved. The voting results were as follows:

Proposal No. 5 – Approval of the Company’s 2021 Stock Incentive Plan

The Company’s 2021 Stock Incentive Plan was approved. The voting results were as follows:

Proposal No. 6 – Approval of an Amendment to the Company’s Articles of Incorporation to to Provide the Board With the Authority to, at its Discretion, Fix by Resolution or Resolutions, the Designations, Rights and Privileges of the Company’s Preferred Stock

An amendment to the Company’s Articles of Incorporation to provide the board with the authority, at its discretion, to fix by resolution or resolutions, the designations, rights, and privileges of the Company’s Preferred Stock was not approved. The voting results were as follows:

Proposal No. 7 – Approval of The Adjournment of the Annual Meeting

The adjournment of the annual meeting was approved, however it was determined not to adjourn the Annual Meeting. The voting results were as follows:

Proposal No. 8 – Advisory Vote on the Approval of Executive Compensation

The advisory vote on the approval of executive compensation was approved. The voting results were as follows:

Proposal No. 9 – Advisory Vote Regarding the Frequency of Future Advisory Votes on Executive Compensation

The advisory vote regarding the frequency of future advisory votes on executive compensation was approved for three years. The voting results were as follows: