Innovative Payment Solutions Inc. (OTCMKTS: IPSI) jumped 27% after announcing an amendment to the preliminary proxy notice previously submitted to the annual meeting of shareholders. The updated preliminary proxy statement proposes voting on a consolidation of shares of all outstanding and issued common shares at a ratio of 1 share for a number of shares between 2 and 30 as determined by the board of directors. . The company has already filed the updated preliminary proxy statement with the SEC.
Recently, the company hired the investor relations and strategic advisory firm CORE IR to assist with its public relations, investor relations and shareholder communications services. In particular, CORE IR’s objective will be to increase the company’s reputation in the market by transmitting its growth strategy and its business model to retail and institutional investors.
Additionally, William Corbett, CEO of Innovative Payments Solutions, said he expects CORE IR’s integrated communications approach to help the company expand its investor reach. So, in the coming months, IPSI deserves to be watched.
IPSI stock rose 26% to $ 0.0386 on Friday with more than 16.12 million shares, from its average volume of 3.45 million shares. The stock traded in a range of $ 0.0300 to 0.0455 after the trade opened at $ 0.0350.