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 $950,000 of a new capital based on financial terms filed in the Company’s prior 8K SEC reports. Financial terms of the agreements enabled the Company to call the warrants if the price of the Company’s common stock closed at or above $0.15 for ten consecutive days.
William Corbett, the CEO of Innovative Payment Solutions, Inc., commented: “The addition of $950,000 brings our Company’s cash balance to approximately $4,000,000. This infusion of capital gives the Company great flexibility to continue executing our business model and strategic planning for 2021.”
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.
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