<SEC-DOCUMENT>0001683168-20-001439.txt : 20200507
<SEC-HEADER>0001683168-20-001439.hdr.sgml : 20200507
<ACCEPTANCE-DATETIME>20200507161052
ACCESSION NUMBER:		0001683168-20-001439
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200507
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200507
DATE AS OF CHANGE:		20200507

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Paysign, Inc.
		CENTRAL INDEX KEY:			0001496443
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				954550154
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38623
		FILM NUMBER:		20856454

	BUSINESS ADDRESS:	
		STREET 1:		1700 W HORIZON RIDGE PARKWAY
		STREET 2:		SUITE 200
		CITY:			HENDERSON
		STATE:			NV
		ZIP:			89012
		BUSINESS PHONE:		702-453-2221

	MAIL ADDRESS:	
		STREET 1:		1700 W HORIZON RIDGE PARKWAY
		STREET 2:		SUITE 200
		CITY:			HENDERSON
		STATE:			NV
		ZIP:			89012

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	3PEA INTERNATIONAL, INC.
		DATE OF NAME CHANGE:	20100713
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>paysign_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 3pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>FORM 8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
May 7, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>PAYSIGN,
INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Nevada</B></FONT></TD>
    <TD STYLE="width: 33%; text-align: center"><FONT STYLE="font-size: 10pt"><B>000-54123</B></FONT></TD>
    <TD STYLE="width: 33%; text-align: center"><FONT STYLE="font-size: 10pt"><B>95-4550154</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of incorporation)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Commission file number)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer Identification Number)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1700 W Horizon Ridge Parkway, Suite 200,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Henderson, Nevada 89012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)
(Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(702) 453-2221</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant's telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>N/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section 12(b) of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Title of each class</FONT></TD>
    <TD STYLE="width: 34%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Trading Symbol(s)</FONT></TD>
    <TD STYLE="width: 33%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Name of each exchange on which registered</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Common Stock, $0.001 par value per share</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">PAYS</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">The NASDAQ Stock Market LLC</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Emerging growth company <FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 3pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo; Options: Hidden -->&nbsp;<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section 2 - Financial Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2.02 Results of Operations and Financial Condition.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 7, 2020 Paysign, Inc. issued a press release regarding
its financial results for the quarter ended March 31, 2020. A copy of the press release is filed herewith as Exhibit 99.1 to this
Current Report and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As provided in General Instruction B.2 of SEC Form 8-K, such
information shall not be deemed &ldquo;filed&rdquo; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the &ldquo;Exchange Act&rdquo;), or otherwise subject to the liabilities of that section, and it shall not be deemed incorporated
by reference in any filing under the Securities Act of 1933, as amended, or under the Exchange Act, whether made before or after
the date hereof, except as expressly set forth by specific reference in such filing to this Current Report on Form 8-K.Section
9 &ndash; Financial Statements and Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01 Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: right"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Financial Statements of businesses acquired: Not applicable.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: right"><FONT STYLE="font-size: 10pt">(b)&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Pro forma financial information: Not applicable.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: right"><FONT STYLE="font-size: 10pt">(c)&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Shell company transactions: Not applicable.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: right"><FONT STYLE="font-size: 10pt">(d)&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Exhibits:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center"><FONT STYLE="font-size: 10pt"><U>Exhibit No.</U></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><U>Description</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD><A HREF="paysign_ex9901.htm"><FONT STYLE="font-size: 10pt">Press release dated May 7, 2020.</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-bottom: Black 1pt solid; border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with the requirements of the Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PAYSIGN, INC.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Date: May 7, 2020</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">By:&nbsp; <I><U>/s/ Mark Newcomer</U></I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 20pt">Mark Newcomer, Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-bottom: Black 1pt solid; border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>paysign_ex9901.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">Exhibit 99.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #444444"><IMG SRC="image_001.jpg" ALT="Logo" STYLE="height: 33px; width: 144px"></FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="color: Black"><B>Paysign
Reports First Quarter 2020 Financial Results</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="color: Black"><B>2020
First Quarter Revenues up 46% to a Record $10.6 Million, Drives Net Income of $1.5 Million, an increase of 77%, and Adjusted EBITDA
of $2.6 Million, an increase of 52%</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="color: Black">HENDERSON,
Nev.--(BUSINESS WIRE)-- Paysign, Inc. (NASDAQ:&nbsp;PAYS), a vertically integrated provider of innovative prepaid card programs,
digital banking and processing services for corporate, consumer and government applications, today reported financial results
for the quarter ended March 31, 2020.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black"><B>Financial
Highlights</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: #FEFEFE; color: #444444"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 12pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Revenues
                                         for the quarter ended March 31, 2020 were $10.6 million, an increase of 48% compared
                                         to $7.3 million for the same period in the prior year.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: #FEFEFE; color: #444444"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 12pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Gross
                                         profit for the quarter ended March 31, 2020 increased 52% to $5.7 million, or 54% of
                                         revenues, compared to $3.8 million, or 52% of revenues, for the same period in the prior
                                         year.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: #FEFEFE; color: #444444"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 12pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Total
                                         operating expenses for the quarter ended March 31, 2020 were $4.3 million compared to
                                         $3.0 million for the same period in the prior year.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: #FEFEFE; color: #444444"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 12pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Net
                                         Income attributable to Paysign for the quarter ended March 31, 2020 was $1.5 million,
                                         an increase of 77% compared to $0.9 million for same period in the prior year. Earnings
                                         per basic share were $0.03 versus $0.02 for same period in the prior year.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: #FEFEFE; color: #444444"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 12pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Non-GAAP
                                         Adjusted EBITDA for the quarter ended March 31, 2020 was $2.6 million, an increase of
                                         52% compared to $1.7 million in 2019. Non-GAAP Fully Diluted EPS was $0.05 as compared
                                         to $0.03 for the same period in the prior year.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: #FEFEFE; color: #444444"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 12pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Our
                                         revenue conversion rate of gross dollar volume loaded on cards was 3.24%, or 324 bps
                                         for the quarter ended March 31, 2020 compared to 3.38%, or 338 bps, in the same period
                                         in the prior year.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black"><B>2020
Financial Guidance</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: #FEFEFE; color: #444444"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 12pt"><FONT STYLE="font-family: Symbol; color: Black">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Due
                                         to the uncertainty surrounding the COVID-19 pandemic the company will refrain from providing
                                         2020 financial guidance at this time, to allow for further evaluation.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black"><B>2020
First Quarter Financial Results</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">Revenues
for the quarter ended March 31, 2020 were $10,576,473, an increase of $3,319,183, or 46% compared to the quarter ended March 31,
2019, when revenues were $7,257,290. The increase in revenue was primarily due to an increase in the number of new corporate incentive
prepaid card programs and growth within our existing programs.</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-bottom: Black 1pt solid; border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">Cost
of revenues for the quarter ended March 31, 2020 was $4,855,520, an increase of $1,373,384 compared to the same period in 2019,
when cost of revenues was $3,482,136. Cost of revenues was 46% and 48% of total revenues in the first quarter of 2020 and 2019,
respectively. Our improvement to this ratio was due to a favorable client mix.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">Selling,
general and administrative expenses (&ldquo;SG&amp;A&rdquo;) in the first quarter of 2020 were $3,827,324, an increase of $1,122,375
compared to the same period in 2019, when SG&amp;A was $2,704,949. The increase in SG&amp;A was primarily attributable to additions
to technologies, sales, operations and leadership positions, and to a lesser extent, an increase in stock- based compensation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">Net
income attributable to Paysign, Inc. in the first quarter of 2020 was $1,540,965 as compared to $871,671 for the same period in
2019, which represents an increase of $669,294, or 77%. The significant overall improvement in net income is attributable to the
aforementioned factors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black"><B>Management
Commentary</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&ldquo;We
are very pleased with the company&rsquo;s first quarter revenue and earnings, as our results surpassed our internal forecasts,
as both plasma and patient affordability programs exhibited healthy year over year revenue growth. We did see some impact related
to stay at home mandates and related safety measures in our plasma programs in late March, while our patient affordability programs
continued to experience exceptional growth throughout the quarter,&rdquo; said Mark Newcomer, Chief Executive Officer, Paysign.
&ldquo;From the outset of the COVID-19 pandemic, the Paysign team has worked to prioritize the safety of our employees and provide
excellent service to our customers and cardholders. We continue to monitor developments in this unprecedented situation and are
pressing forward with our key initiatives in support of Paysign&rsquo;s long-term growth.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&ldquo;Gross
Margin in the first quarter of 54.1% improved nicely compared to the same period in 2019, but also versus the 51.8% in quarter
four,&rdquo; stated Mark Attinger, Chief Financial Officer. &ldquo;This was not only in line with our expectations, but is an
important indicator of predictability, as we expect to return to 2019 Gross Margin levels.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black"><B>About
Paysign, Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="color: Black">Paysign,
Inc., (NASDAQ:&nbsp;PAYS), is an experienced and trusted prepaid debit card payment solutions provider as well as an integrated
payment processor that has managed millions of prepaid debit cards in its portfolio. Paysign conceptualizes, develops and manages
payment solutions, prepaid card programs, and customized payment services. Paysign&rsquo;s corporate incentive prepaid cards are
changing the way corporations reward, motivate, and engage their current and potential customers, employees, and agents. Paysign&rsquo;s
customizable solutions offer significant cost savings while improving brand recognition and customer loyalty. For over 15 years
healthcare companies, major pharmaceutical companies, multinationals, prestigious universities, and social media companies have
relied on Paysign to provide state-of-the-art prepaid payment programs tailored to their unique requirements. Paysign is a registered
trademark of Paysign, Inc. in the United States and other countries. For more information visit us at&nbsp;paysign.com, or follow
us on&nbsp;Facebook,&nbsp;Twitter, and&nbsp;LinkedIn.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="color: Black"></FONT></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-bottom: Black 1pt solid; border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black"><B>Forward-Looking
Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">Certain
statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and the
company intends that such forward-looking statements be subject to the safe-harbor created thereby. All statements, other than
statements of fact, included in this release, are forward-looking statements. Such forward-looking statements include, among others,
the company&rsquo;s belief in its ability to ensure continuity during the COVID-19 outbreak; that the company continues to see
growth in our patient affordability solutions; that gross margins are important indicator of predictability; and that the company
expects similar gross margins to 2019. We caution that these statements are qualified by important risks, uncertainties, and other
factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors
include, among others, the inability to continue our current growth rate in future periods; identified material weaknesses in
our internal control over financial reporting which could, if not remediated, adversely affect our ability to report our financial
condition and results of operations in a timely and accurate manner; that a downturn in the economy, including as a result of
COVID-19, could reduce our customer base and demand for our products and services, which could have an adverse effect on our business,
financial condition, profitability, and cash flows; operating in a highly regulated environment; failure by us or business partners
to comply with applicable laws and regulations; changes in the laws, regulations, credit card association rules or other industry
standards affecting our business; that a data security breach could expose us to liability and protracted and costly litigation;
and other risk factors set forth in our Form 10-K for the year ended December 31, 2019. Except to the extent required by federal
securities laws, the company undertakes no obligation to publicly update or revise any statements in this release, whether as
a result of new information, future events, or otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black"></FONT></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-bottom: Black 1pt solid; border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: Black">PAYSIGN, INC.</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">CONSOLIDATED STATEMENTS OF INCOME</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">FOR THREE MONTHS ENDED MARCH 31, 2020 AND 2019</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(Unaudited)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; color: black; text-align: center">For quarter ending March 31,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: black; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: black; text-align: center; border-bottom: Black 1pt solid">2019</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black">Revenue</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; color: black; text-align: left">Plasma industry</TD><TD STYLE="width: 2%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 11%; color: black; text-align: right">7,343,410</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 11%; color: black; text-align: right">5,884,577</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left">Pharma industry</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">3,020,377</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">1,372,713</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; padding-bottom: 1pt">Other</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">212,686</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">10,576,473</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">7,257,290</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; padding-bottom: 1pt">Cost of revenues</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">4,855,520</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">3,482,136</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Gross profit</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">5,720,953</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">3,775,154</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left">Operating expenses</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Selling, general and administrative</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">3,827,324</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">2,704,949</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Depreciation and amortization</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">502,376</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">333,761</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Total operating expenses</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">4,329,700</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">3,038,710</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Income from operations</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">1,391,253</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">736,444</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left">Other income</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Interest income</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">62,161</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">119,173</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Total other income</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">62,161</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">119,173</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left">Income before income tax benefit</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">1,453,414</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">855,617</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Income tax benefit</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">(87,551</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">)</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">(15,490</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Net income before noncontrolling interest</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">1,540,965</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">871,107</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Net loss attributable to noncontrolling interest</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">564</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 2.5pt">Net income attributable to Paysign, Inc.</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">1,540,965</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">871,671</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 2.5pt">Net income per common share - basic</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">0.03</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">0.02</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-bottom: 2.5pt">Net income per common share - fully diluted</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">0.03</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">0.02</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; padding-bottom: 2.5pt">Weighted average common shares outstanding - basic</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">48,713,163</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">46,961,079</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; padding-bottom: 2.5pt">Weighted average common shares outstanding - fully diluted</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">54,688,066</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">54,508,835</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-bottom: Black 1pt solid; border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">PAYSIGN, INC.</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">CONDENSED CONSOLIDATED BALANCE SHEETS</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">MARCH 31, 2020 and DECEMBER 31, 2019</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: black; text-align: center">March 31,</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: black; text-align: center">December 31,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: black; text-align: center">2020</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: black; text-align: center">2019</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: black; text-align: center; border-bottom: Black 1pt solid">(Unaudited)</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: black; text-align: center; border-bottom: Black 1pt solid">(Audited)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black">ASSETS</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left">Current Assets</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; color: black; padding-left: 10pt">Cash</TD><TD STYLE="width: 2%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 11%; color: black; text-align: right">9,424,385</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 11%; color: black; text-align: right">9,663,746</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-left: 10pt">Cash restricted</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">45,424,829</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">35,908,559</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-left: 10pt">Accounts receivable</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">911,597</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">891,936</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Prepaid expenses and other current assets</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">1,380,683</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">1,413,208</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-left: 10pt">Total current assets</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">57,141,494</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">47,877,449</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Fixed assets, net</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">1,798,751</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">937,185</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left">Intangible assets, net</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">3,948,413</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">3,816,232</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Deferred tax asset</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">993,382</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">917,480</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-bottom: 2.5pt">Total Assets</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">63,882,040</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">53,548,346</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">LIABILITIES AND EQUITY</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Current Liabilities</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-left: 10pt">Accounts payable and accrued liabilities</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">1,999,046</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">$</TD><TD STYLE="color: black; text-align: right">1,523,604</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Customer card funding</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">40,292,331</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">32,723,227</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Total current liabilities</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">42,291,377</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">34,246,831</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Total Liabilities</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">42,291,377</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">34,246,831</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left">Stockholders' Equity</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; color: black; padding-left: 20pt">Common stock: $0.001 par value; 150,000,000 shares authorized, 49,016,270 and
    48,577,712 issued at March 31, 2020 and December 31, 2019, respectively</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">49,016</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">48,578</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-left: 10pt">Additional paid-in-capital</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">12,062,197</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">11,577,539</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-left: 10pt">Treasury stock at cost, 303,450 shares</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(150,000</TD><TD STYLE="color: black; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(150,000</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Retained earnings</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">9,629,450</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">8,088,485</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-left: 10pt">Total Paysign, Inc's stockholders' equity</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">21,590,663</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">19,564,602</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Noncontrolling interest</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">(263,087</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Total Equity</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">21,590,663</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">19,301,515</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-bottom: 2.5pt">Total Liabilities and Equity</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">63,882,040</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">53,548,346</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"></P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-bottom: Black 1pt solid; border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black"><B>Paysign,
Inc. Non-GAAP Measures</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">To
supplement Paysign&rsquo;s financial results presented on a GAAP basis, we use non-GAAP measures of net income that excludes the
following cash and non-cash items &ndash; interest, taxes, stock-based compensation, amortization and depreciation. We believe
these non-GAAP measures help investors better evaluate our past financial performance and potential future results. Non-GAAP measures
should not be considered in isolation or as a substitute for comparable GAAP accounting, and investors should read them in conjunction
with the company&rsquo;s financial statements prepared in accordance with GAAP. The non-GAAP measures of net income we use may
be different from, and not directly comparable to, similarly titled measures used by other companies.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&ldquo;EBITDA&rdquo;
is defined as earnings before interest, taxes, depreciation and amortization expense. &ldquo;Adjusted EBITDA&rdquo; reflects the
adjustment to EBITDA to exclude stock-based compensation charges.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">Adjusted
EBITDA is not intended to represent cash flows from operations, operating income (loss) or net income (loss) as defined by U.S.
GAAP as indicators of operating performances. Management cautions that amounts presented in accordance with Paysign&rsquo;s definition
of Adjusted EBITDA may not be comparable to similar measures disclosed by other companies because not all companies calculate
Adjusted EBITDA in the same manner.</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444">&nbsp;</P>


<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: Black">PAYSIGN, INC.</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">RECONCILIATION OF ADJUSTED EBITDA TO NET INCOME</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">FOR THREE MONTHS ENDED MARCH 31, 2020 AND 2019</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(Unaudited)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: Black">&nbsp;</FONT> <FONT STYLE="color: Black">&nbsp;</FONT> <FONT STYLE="color: Black">&nbsp;</FONT> <FONT STYLE="color: Black">&nbsp;</FONT> <FONT STYLE="color: Black">&nbsp;</FONT></P>



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="color: black; text-align: center; border-bottom: Black 1pt solid">For quarter ending March 31,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: black; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: black; text-align: center; border-bottom: Black 1pt solid">2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 70%; color: black; text-align: left">Net income attributable to Paysign, Inc.</TD><TD STYLE="width: 2%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 11%; color: black; text-align: right">1,540,965</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 11%; color: black; text-align: right">871,671</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Income tax benefit</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(87,551</TD><TD STYLE="color: black; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(15,490</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left">Interest income</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(62,161</TD><TD STYLE="color: black; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(119,173</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Depreciation and amortization</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">502,376</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">333,761</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black">EBITDA</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">1,893,629</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">1,070,769</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Stock-based compensation</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">724,183</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">646,710</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 2.5pt">Adjusted EBITDA</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">2,617,812</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">1,717,479</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 2.5pt">Non-GAAP EPS - basic</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">0.05</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">0.04</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-bottom: 2.5pt">Non-GAAP EPS - fully diluted</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">0.05</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">0.03</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #9ECC38"><FONT STYLE="color: Black">Contacts</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="color: Black">Paysign,
Inc.<BR>
Jim McCroy, 1-702-749-7269<BR></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="color: Black">Investor Relations<BR>
ir@Paysign.com<BR>
www.Paysign.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="color: Black">Source:
Paysign, Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"></FONT></P>

<!-- Field: Page; Sequence: 6; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-bottom: Black 1pt solid; border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X  02D9)1@ ! 0$ 2 !(  #_X0 817AI9@  24DJ  @
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M 0$  04! 0              !0$#! 8'" +_Q  _$0 " 0,# P,!! 4)"0$
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M!6U'GN:6;)G R3 ?[5.B\P0PV%$/C<QI6UE"6RJ9DLRD"H6+E_P0*,@1D(3
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*'&FCC31QIK__V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
