Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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- Peter Lynch
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Innovative Payment Solutions, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
45783M109
(CUSIP Number)
Anna Mosk
Strategic IR, Inc.
109 East 17th Street, Suite 25
Cheyenne, Wyoming 82001
(307) 222-6325
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 19, 2019
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and
is filing this schedule because of ??240.13d-1(e), 240.13d-1(f) or
240.13d-1(g), check the following box. ?
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See ?240.13d-7 for
other parties to whom copies are to be sent. * The remainder of this cover page
shall be filled out for a reporting person's initial filing on this form
with respect to the subject class of securities, and for any subsequent
amendment containing information which would alter disclosures provided
in a prior cover page.
The information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).
CUSIP No. 45783M109
13D
Page 2 of 5 Pages
1.
NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Strategic IR, Inc.
IRS Identification No. of Above Persons (Entities Only): 32-0308778
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions)
(a) ?
(b) ?
3.
SEC USE ONLY
4.
SOURCE OF FUNDS (see instructions)
WC
5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) ?
6.
CITIZENSHIP OR PLACE OF ORGANIZATION
Wyoming
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7.
SOLE VOTING POWER
32,504,490
8.
SHARED VOTING POWER
0
9.
SOLE DISPOSITIVE POWER
32,504,490
10.
SHARED DISPOSITIVE POWER
0
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
32,504,490
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(see instructions) ?
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
24.7%
14.
TYPE OF REPORTING PERSON (see instructions)
CO
CUSIP No. 45783M109
13D
Page 3 of 5 Pages
Item 1. Security and Issuer.
This Schedule 13D relates to the common stock (the ?Common Stock?)
of Innovative Payment Solutions, Inc., a Nevada corporation (?Innovative?).
The address of the principal executive office of Innovative is 4768 Park
Granada, Suite 200, Calabasas, California 91302.
Item 2. Identity and Background.
This Schedule 13D is filed by Strategic IR, Inc., a Wyoming corporation
(?Strategic?). Strategic is in the business of owning and managing private
investments. Strategic?s principal business and principal office address is
109 East 17th Street, Suite 25, Cheyenne, Wyoming 82001.
Strategic is controlled by Anna Mosk (?Mosk?), who is the
President of Strategic. The business address of Mosk is the same
as Strategic?s principal office. Mosk?s principal occupation is
operations consultant. Mosk is a citizen of the United States of America.
During the last five years, neither Strategic nor Mosk has been
(i) convicted in a criminal proceeding, or (ii) a party to a
civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject
to a judgment, decree or final order enjoining future violations of,
or prohibiting or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such laws.
Item 3. Source or Amount of Funds or Other Consideration.
The amount of funds or other consideration used by
Strategic in making the purchases of the shares of Common Stock
that are the subject of this Schedule 13D totaled approximately
$1,254,575. The source of funds used for such purchases by Strategic
was the working capital of Strategic.
Item 4. Purpose of Transaction.
Strategic is and will be holding all of its shares of
Common Stock solely for investment purposes. Strategic may
from time to time acquire (on the open market or directly
from Innovative) additional shares of Common Stock. Strategic may
also sell shares of Common Stock from time to time.
Item 5. Interest in Securities of the Issuer.
(a) Strategic beneficially owns 32,504,490 shares of Common Stock,
including the right to purchase 99,720 shares of Common Stock upon the exercise
of warrants exercisable within 60 days. In determining the percentage
ownership of the outstanding shares of Common Stock, Strategic (i) is
relying on the most recently available information received directly from
Innovative which indicates 131,406,234 shares of Common Stock outstanding as
of January 15, 2020, and (ii) is assuming that all shares of Common
Stock subject to the warrants described above are outstanding. Based on the
foregoing, Strategic?s ownership represents approximately 24.7% of
the outstanding shares of Common Stock.
(b) Subject to the above discussion, Strategic has sole power
to vote and dispose of 32,504,490 shares of Common Stock; and Mosk has shared
power to vote and dispose of the 32,504,490 shares of Common
Stock held by Strategic.
(c) During the past 60 days, Strategic acquired a total of 15,561,718
shares of Common Stock, directly from Innovative, in the following arms?-length
negotiated transactions that were effected remotely via the exchange
of documents and signatures:
number of shares acquired price per share date of transaction
1. 2,386,181 $0.0156 November 19, 2019
2. 10,007,882 $0.0159 November 19, 2019
3. 935,887 $0.0159 November 19, 2019
4. 2,231,768 $0.029 December 17, 2019
Each of transactions 1, 2 and 3 above was effected through
a conversion of a convertible promissory note held by Strategic.
Transaction 4 above was effected in full settlement of a promissory
note evidencing a loan from Strategic to Innovative.
(d) No person other than Strategic and Mosk has the right to receive or
the power to direct the receipt of dividends from, or the proceeds from the
sale of, the 32,504,490 shares of Common Stock beneficially held by Strategic.
(e) N/A.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
N/A
Item 7. Material to Be Filed as Exhibits.
N/A
CUSIP No. 45783M109
13D
Page 5 of 5 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Date: January 23, 2020 STRATEGIC IR, INC.
By: /s/ Anna Mosk
Anna Mosk, President