Innovative Payment Solutions Inc Stock Price, News & Analysis

Innovative Payment Solutions, Inc. (OTCQB: IPSI) has successfully closed a private placement offering, raising approximately $4.55 million through the sale of 30,333,334 shares and warrants for $0.15 each. The warrants permit the purchase of an additional 15,166,667 shares at the same price and are valid for five years. The funds will primarily support the development of the IPSIPay digital payment platform and for general corporate needs. The securities sold were not registered under the Securities Act, limiting their resale in the U.S.

Innovative Payment Solutions (OTCQB: IPSI) announced a securities purchase agreement to sell 30,333,334 shares of common stock and warrants for a total of approximately $4.55 million. The offering price is set at $0.15 per share, with warrants exercisable at the same price. Proceeds will be used for technology development, marketing, working capital, and general corporate purposes. The offering is expected to close around March 16, 2021. This private placement will not be publicly offered and must comply with federal and state securities regulations.

Innovative Payment Solutions, Inc (OTCQB: IPSI) has successfully raised $950,000, bringing its total cash balance to approximately $4 million. This funding is expected to enhance the company's flexibility in executing its business model and strategic planning for 2021. The capital raise is linked to financial terms that allow the company to call warrants if its stock price maintains a closing value of $0.15 for ten consecutive days. CEO William Corbett expressed optimism about leveraging this capital for future growth.

Innovative Payment Solutions, Inc. (OTCQB: IPSI) has inked a Service Agreement with Interface Investment Capital, LLC to provide financial services to the agricultural sector in California. The agreement enables the integration of IPSIPay with IIC's payroll system, offering payroll debit cards and cross-border payments. California's agriculture employs over 422,000 workers and generates more than $45 billion in sales. The deal aims to enhance financial services for unbanked communities, marking a significant milestone for Innovative. CEO William Corbett expressed optimism about expanding IPSIPay's reach.

Innovative Payment Solutions, Inc. (OTCQB: IPSI) has made significant strides in early 2021, raising $2 million in capital at $0.23 per share and reporting a cash balance of approximately $3 million. The repayment of toxic debt aims to enhance shareholder value. A commitment of $5 million from institutional investor Bellridge Capital, LP, will support the liquidity and settlement of IPSIPay Stable Coin. The company has also hired in-house legal counsel to navigate regulatory changes, furthering its mission to serve unbanked and underbanked customers.

Innovative Payment Solutions (OTCQB: IPSI) has raised $2 million at 23 cents per share, which will be allocated for general purposes, marketing, and technology investment. This follows a prior funding round of $600,000 at 4.5 cents per share, which the company aims to repurchase with the new funds. CEO William Corbett emphasizes the goal of establishing the company as a leading digital payment provider, focusing on small businesses and underserved consumers. The press release also includes a forward-looking statement regarding future growth and market potential.

Innovative Payment Solutions, Inc. (OTCQB: IPSI) has signed a term sheet with an institutional investor for funding between $1 million and $5 million, aimed at supporting the issuance of IPSI Stable Coin. This investment validates the company's business model and is expected to enhance their digital payment solution, IPSIPay, which targets unbanked and underbanked communities. CEO William Corbett highlighted the significance of the Office of the Comptroller of the Currency’s recent approval for stable coin banking as a major opportunity for growth in the digital payment market.

Innovative Payment Solutions, Inc. (OTCQB: IPSI) has launched a beta version of its IPSI Payroll™ platform, aiming to modernize ACH payroll processing using digital wallets. The system facilitates direct mobile payments and allows transactions to international destinations like Mexico. Agreements with Motor LA Logistics LLC and Lotus Logistics mark the start of beta testing. The platform targets unbanked and underbanked consumers, fostering a recurring revenue model while reducing payroll processing costs for businesses. IPSI looks forward to expanding its market presence in 2021.

Innovative Payment Solutions, Inc. (OTCQB: IPSI) has secured over $600k in new capital through fixed price financing with major shareholders, representing a 30% premium from the previous funding round in Q4 2020. This infusion of funds is intended to enhance the company's capacity to implement its digital payment solution, IPSIPay™, and expedite the integration with Golden Money Transfer's remittance platform. The Mexican Central Bank reported continued growth in money transfers, projecting a favorable market for IPSI's services.