IPSI on OTC

Innovative Payment Solutions, Inc.

Innovative Payment Solutions, Inc. is an American retail-catalog and mail-order houses company, listed on OTC (IPSI).1 It is headquartered in Carmel By The Sea, California.1

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Last updated Oct 20, 2026.

Overview

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  • TickerIPSI on OTC1
  • IndustryRetail-Catalog & Mail-Order Houses1
  • HeadquartersCarmel By The Sea, California1
  • Incorporated inNV2
  • Business address56B 5Th Avenue, Lot 1 #At, Carmel By The Sea, Ca 939212
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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None of our employees are represented by a labor union, and we consider our employee relations to be good.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

-765.1%Gross margin4
-965883.7%Operating margin4
-1423356.1%Net margin4
-51.6%Revenue growth, 20234

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Cost of revenue1¢$3.5K
  • Interest99¢$319.5K

Out of $410 in revenue.4 The company lost money this year.

Financial statements

Revenue564$410 in 2023
0$250$500$750$1.0K2021: $0$020212022: $847$84720222023: $410$4102023−52%
Gross profit64-$3.1K in 2023−25% since 2022
-$6.0K-$4.0K-$2.0K02022: -$4.2K-$4.2K20222023: -$3.1K-$3.1K2023−25%
Operating income78564-$4.0M in 2023+390% since 2019
-$15.0M-$10.0M-$5.0M02019: -$807.9K-$807.9K20192020: -$1.8M-$1.8M2020+117%2021: -$10.3M-$10.3M2021+487%2022: -$5.6M-$5.6M2022−46%2023: -$4.0M-$4.0M2023−29%
Net income7564-$5.8M in 2023+56% since 2019
-$15.0M-$10.0M-$5.0M02019: -$3.7M-$3.7M20192020: -$5.4M-$5.4M2020+46%2021: -$14.5M-$14.5M2021+166%2022: -$10.3M-$10.3M2022−29%2023: -$5.8M-$5.8M2023−43%

Every line of the income statement as filed: the last 2 fiscal years, latest first.11

Period ending2025-12-312024-12-31
General and administrative$1.0M$1.9M
Depreciation$2.2K$2.2K
Total Expense$1.0M$1.9M
Loss from Operations-$1.0M-$1.9M
Investment impairment charge-$425.0K
Gain (loss) on settlement, cancellation and repricing of securities$6.3M-$4.8M
Fair value adjustment to price protected securities-$8.3M-$2.1M
Loss on disposal of assets-$2.6K
Interest expense-$902.2K-$603.6K
Interest income$53.8K$32.8K
Amortization of debt discount-$318.1K-$1.0M
Derivative liability movements$132.8K$6.9M
Loss before income taxes-$4.4M-$3.4M
Net loss after income taxes-$4.4M-$3.4M
Operating loss from equity method investments-$819
Impairment of equity method investment-$705.1K
Total loss from equity method investment-$706.0K
Net loss-$4.4M-$4.1M
Deemed dividend-$1.8M-$426.8K
Net loss attributable to Innovative Payment Solutions, Inc. Stockholders-$6.2M-$4.6M
Basic loss per share (in Dollars per share)-$0.02-$0.30
Diluted loss per share (in Dollars per share)-$0.02-$0.30
Weighted Average Number of Shares Outstanding - Basic (in Shares)317.1M shares15.1M shares
Weighted Average Number of Shares Outstanding - Diluted (in Shares)317.1M shares15.1M shares

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What it owns

What Innovative Payment Solutions, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Computer equipment and software$1.0K11 Dec 31, 2025
Property and equipment, before depreciation$1.0K4 Dec 31, 2024$1.0K6 Dec 31, 20230%
Property and equipment, net$2.7K11 Dec 31, 2025$4.9K11 Dec 31, 2024−44.6%

Investments

ItemLatestA year beforeChange
Stakes in other companies (equity method)$4.2M11 Dec 31, 2025$111 Dec 31, 2024+420000000.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Indefinite-lived intangibles (excluding goodwill)$30.3M11 Dec 31, 2025$28.6M4 Dec 31, 2024+5.9%

Properties, in its own words

The Company does not operate out of any leased or owned properties.

Item 2 of the 10-K filed Mar 31, 2026.3

Leadership

Who has led Innovative Payment Solutions, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Gaston Pereira2016–2018
  2. William D. Corbett2019–2022

Chair

  1. Gaston Pereira2016
  2. William D. Corbett2021

President

  1. Richard Rosenblum2021–2022

Chief financial officer

  1. Mark John Korb2016
  2. William D. Corbett2021
  3. Richard Rosenblum2021–2022

Chief operating officer

  1. Andrey Novikov2016–2018
20202025
Board members and other officers (10)

Former names

  • QPAGOSJun 17, 2016 to Nov 4, 20192
  • Asiya Pearls, Inc.Dec 16, 2013 to Jun 15, 20162

Timeline

  1. Apr 1, 20268-K Bylaws or fiscal year changed25
  2. Nov 4, 20258-K Entered a material agreement26
  3. Oct 29, 20258-K Bylaws or fiscal year changed27
  4. Jan 28, 20258-K Entered a material agreement28
  5. Jan 10, 20258-K Executive or director change29
  6. Jul 31, 20248-K Entered a material agreement; Executive or director change; Other events30
  7. Feb 26, 20248-K New debt or obligation; Other events31
  8. Dec 1, 20238-K Shareholder vote32
  9. Sep 6, 20238-K Entered a material agreement33
  10. Aug 30, 20238-K Change to shareholders' rights; Bylaws or fiscal year changed34
  11. Jun 23, 20238-K Entered a material agreement35
  12. Feb 17, 20238-K Entered a material agreement; New debt or obligation; Unregistered sale of shares36
  13. Sep 16, 2019New chief executive William D. Corbett becomes CEO12
  14. Jun 20, 2016New chief executive Gaston Pereira becomes CEO13

Filings

61 filings to the SEC since October 2021: 6 annual reports, 17 quarterly reports, 19 major events, 7 insider forms, 12 other. The latest 20:

  1. Aug 14, 202610-Q QUARTERLY REPORT EDGAR
  2. May 15, 202610-Q QUARTERLY REPORT EDGAR
  3. Apr 1, 20268-K CURRENT REPORT EDGAR
  4. Mar 31, 202610-K ANNUAL REPORT EDGAR
  5. Nov 14, 202510-Q QUARTERLY REPORT EDGAR
  6. Nov 4, 20258-K INNOVATIVE PAYMENT SOLUTIONS, INC. - FORM 8-K SEC FILING EDGAR
  7. Oct 29, 20258-K INNOVATIVE PAYMENT SOLUTIONS, INC. - FORM 8-K SEC FILING EDGAR
  8. Aug 14, 202510-Q QUARTERLY REPORT EDGAR
  9. May 15, 202510-Q QUARTERLY REPORT EDGAR
  10. Mar 31, 202510-K ANNUAL REPORT EDGAR
  11. Jan 28, 20258-K INNOVATIVE PAYMENT SOLUTIONS, INC. - FORM 8-K SEC FILING EDGAR
  12. Jan 10, 20258-K CURRENT REPORT EDGAR
  13. Nov 12, 202410-Q QUARTERLY REPORT EDGAR
  14. Aug 14, 202410-Q QUARTERLY REPORT EDGAR
  15. Jul 31, 2024425 CURRENT REPORT EDGAR
  16. Jul 31, 20248-K CURRENT REPORT EDGAR
  17. May 14, 202410-Q QUARTERLY REPORT EDGAR
  18. Apr 17, 202410-K/A AMENDMENT NO. 1 TO FORM 10-K EDGAR
  19. Mar 29, 202410-K ANNUAL REPORT EDGAR
  20. Feb 26, 20248-K CURRENT REPORT EDGAR

The 61 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

SEC filer profile

How Innovative Payment Solutions, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARInnovative Payment Solutions, Inc.1
  • CIK0001591913
  • Employer ID (EIN)33-12302293
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inNevada3
  • Fiscal year endsDecember 311
  • Industry code (SIC)5961 Retail-Catalog & Mail-Order Houses1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business address56B 5Th Avenue, Lot 1 #At, Carmel By The Sea, CA 939211
  • Phone(866) 477-47291
  • Shares outstanding994,175,223 as of Aug 13, 202610
  • Public float$1.4M as of Jun 30, 20253
  • AuditorRBSM LLP, Houston, TX PCAOB ID 587; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceDec 16, 20131
  • Filings273 in all: 8-K (75), 10-Q (39), 4 (27), 10-K (12), 3 (12), CORRESP (10), NT 10-Q (10), UPLOAD (10)1
    All 33 form types

    S-1/A (9), D (6), EFFECT (6), S-1 (6), SC 13G (6), 424B3 (5), 10-Q/A (4), 3/A (3), 4/A (3), DEF 14A (3), DEF 14C (3), NT 10-K (3), PRE 14C (3), SC 13D (3), SC 13G/A (3), PRE 14A (2), S-8 (2), 10-K/A (1), 424B4 (1), 425 (1), 8-A12G (1), 8-K/A (1), AW (1), PRER14A (1), RW (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Nov 6, 2023
    Latest 8-K (8-K) Apr 1, 2026

Risk factors and legal proceedings

The risks Innovative Payment Solutions, Inc. names in Item 1A of its 10-K filed Mar 31, 2026: 40 risks under these headings, as written.3

  • Risks Relating to Our Company
  • We have had no revenue generating operations to date.
  • We have generated and we will likely continue to generate, operating losses and experience negative cash flows, and it is uncertain whether we will achieve profitability.
  • We have a present need for additional funding, which raises questions about our ability to continue as a going concern. We may be unable to raise capital when needed, which would force us to delay, reduce or eliminate our product development programs or commercialization efforts.
  • We have not generated sufficient revenue or cash flow to pay our convertible notes, and conversion of such debt into shares of common stock, which would cause significant dilution.
  • Servicing our debt requires a significant amount of cash. Our ability to generate sufficient cash to service our debt depends on many factors beyond our control.
  • Covenant restrictions under our indebtedness may limit our ability to operate our business.
  • We have identified material weaknesses in our internal controls, and we cannot provide assurances that these weaknesses will be effectively remediated or that additional material weaknesses will not occur in the future.
  • Risks Related to Our Business
  • The payment services industry is highly competitive, and many of our competitors are larger and have greater financial and other resources.
  • There is uncertainty as to market acceptance of our technology, products and services.
  • We are dependent on technology networks and systems to process, transmit and securely store electronic information and we could be subject to liability if our technology systems fail to be secure.
The other 30 risks
  • We are subject to economic risks that could impact the overall level of consumer spending.
  • If consumer confidence in our business deteriorates, our business, financial condition and results of operations could be adversely affected.
  • We expect to be subject to extensive government regulation if we are deemed to be engaged in a regulated business, and we are faced with the risk that new regulations applicable to our business will be enacted.
  • The regulatory regime governing digital assets and offerings of digital assets is evolving and uncertain, and new regulations or policies may materially adversely affect our development.
  • The laws and regulations indirectly affecting our industry are constantly evolving and failure to comply could adversely impact our business.
  • We may have difficulty managing our growth, which may divert resources and limit our ability to successfully expand our operations.
  • We may not be able to complete or integrate successfully any potential future acquisitions, partnerships or joint ventures.
  • We are subject to the discretion of administrative enforcement agencies.
  • Major bank failure or sustained financial market illiquidity, or illiquidity at our clearing, cash management and custodial financial institutions, could adversely affect our business, financial condition and results of operations.
  • As our business develops, we will need to implement enhanced compliance processes, procedures and controls with respect to the rules and regulations that apply to our business.
  • If we cannot keep pace with rapid developments and change in our industry and provide new services to our clients, the use of our services could decline, reducing our revenues.
  • Our systems and our third-party providers’ systems may fail due to factors beyond our control, which could interrupt our service, cause us to lose business and increase our costs.
  • Unauthorized disclosure of data, whether through cybersecurity breaches, computer viruses or otherwise, could expose us to liability, protracted and costly litigation and damage our reputation.
  • Customer complaints or negative publicity about our customer service could affect attractiveness of our services adversely and, as a result, could have an adverse effect on our business, financial condition and results of operations.
  • Our payment system might be used for fraudulent, illegal or improper purposes, which could expose us to additional liability and harm our business.
  • We may not be able to successfully protect the intellectual property we license or own and may be subject to infringement claims.
  • We may use open-source software in a manner that could be harmful to our business.
  • We do not have and may be unable to obtain sufficient insurance to protect ourselves from business risks.
  • We rely on certain key personnel and in a dynamic industry like ours, the ability to attract, recruit, retain and develop qualified personnel is critical to our success and growth.
  • Risks Relating to Our Securities
  • There is currently a limited public trading market for our common stock and one may never develop.
  • Because our common stock may be a “penny stock,” it may be more difficult for investors to sell shares of our common stock, and the market price of our common stock may be adversely affected.
  • Because we became public by means of a reverse merger, we and our shareholders may be faced with regulatory constraints, and we may not be able to attract the attention of brokerage firms.
  • Compliance with the reporting requirements of federal securities laws is expensive and time consuming.
  • Our stock price has been subject to significant volatility, and future volatility may result in our investors incurring substantial losses.
  • Our investors’ ownership will likely be diluted in the future.
  • Our Board of Directors has historically had significant control over us and we have yet to establish committees comprised of independent directors.
  • We do not have an independent compensation committee, which presents the risk that compensation and benefits paid to those executive officers who are board members and other officers may not be commensurate with its financial performance.
  • Limitations on director and officer liability and indemnification of our officers and directors by our articles of incorporation, as amended, and by-laws may discourage stockholders from bringing suit against an officer or director.
  • We are responsible for the indemnification of our officers and directors.
  • We do not expect to pay dividends on our common stock in the foreseeable future.

Legal proceedings

From time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. Below is a description of our outstanding pending litigation matters. Litigation is subject to inherent uncertainties and an adverse result in the below described or other matters may arise from time to time that may harm our business. Other than as set forth below, we are not presently a party to any legal proceedings that, if determined adversely to us, would individually or taken together have a material adverse effect on our business, operating results, financial condition or cash flows.

Voloshin, et al., v. Innovative Payment Solutions, Inc., et al.

On October 20, 2021, a complaint was filed against our Company and certain of its officers and directors with the Occupational Safety and Health Administration of the United States Department of Labor (“OSHA”), captioned Naum Voloshin, Yulia Rey, Alexander Voloshin, Andrey Novikov, and Frank Perez v. Innovative Payment Solutions, Inc., William Corbett, Richard Rosenblum, Madisson Corbett, Jim Fuller, Cliff Henry and David Rios. The complaint generally alleged that complainants, four former employees (or independent consultants) of our Company and one employee who was on suspension, did not receive compensation to which they claim they were entitled and that they were wrongfully terminated for engaging in protected activities in violation of the Sarbanes-Oxley Act of 2002, 18 U.S.C. § 1514A. The complaint sought reinstatement of complainants’ employment, monetary damages including back pay, raises, bonuses, benefits, overtime, emotional distress and loss of reputation, orders of abatement and injunctive relief, and costs of litigation.

The opening of Item 3, Legal Proceedings.3

Sources

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