Innovative Payment Solutions, Inc. Announces an Additional Capital Raise of $950,000
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.
- Successful capital raise of $950,000 increasing cash balance to approximately $4 million.
- Enhanced flexibility for executing business model and strategic planning.
- None.
NORTHRIDGE, Calif., March 05, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Innovative Payment Solutions, Inc. (OTCQB: IPSI) (“Innovative” or the “Company”), a Southern California based fintech company focused on building a 21st century digital payment solution, IPSIPay, today announced that it has raised an additional
William Corbett, the CEO of Innovative Payment Solutions, Inc., commented: “The addition of
SAFE HARBOR STATEMENT
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statement of historical fact contained in this press release are forward-looking statements. In some case, forward-looking statements can be identified by terminology such as "anticipate," "believe," "can," "continue," "could," "estimate, "expect," "intend," "may," "plan," "potential," "predict," "project," "should," or "will" or the or the negative of these terms or other comparable terminology and include statements regarding the infusion of capital giving the Company great flexibility to continue executing its business model and strategic planning for 2021.
These forward-looking statements are based on expectations and assumptions as of the date of the press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectation include, among others, our ability to execute our business model and strategic plan for 2021, our ability to position Innovative for future profitability, the duration and scope of the COVID-19 outbreak worldwide, including the impact to the economy in California and Mexico, and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and the Company’s subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
For investor inquiries please call (818) 864-4004 or email info@ipsipay.com
FAQ
What is the recent capital raise by Innovative Payment Solutions?
How does the capital raise impact Innovative Payment Solutions' strategy?
What conditions were set for the capital raise by Innovative Payment Solutions?
