Innovative Payment Solutions Inc. (OTCMKTS:IPSI) jumped 27% after announcing an amendment to the previously submitted Preliminary Proxy Statement Notice of Annual Meeting of Stockholders. The updated Preliminary Proxy Statement proposes the voting on a reverse share split of all outstanding and issued common stock shares at a ratio of 1 share for a number of shares between 2 and 30 that the Board of Directors will determine. Already the company has filed the updated Preliminary Proxy statement with the SEC.
Recently the company engaged investor relations and strategic consultancy company CORE IR to help it with public relations, investor relations, and stockholder communication services. Notably, CORE IR’s focus will be to expand market awareness for the company by conveying its growth strategy and business model to retail and institutional investors.
In addition, innovative Payment solutions CEO William Corbett said that they expected CORE IR’s integrated communications approach to help the company expand its reach of investors. So in the coming months, IPSI is worth watching.
Market Reaction:
On Friday, IPSI stock soared 26% at $0.0386 with more than 16.12 million shares, compared to its average volume of 3.45 million shares. The stock has moved within a range of $0.0300 – 0.0455 after opening the trade at $0.0350.
