Core Insights - AppTech Payments Corp. has launched its Lending Integrations and Processing Platform, anticipating significant growth as partners onboard their networks of portfolio companies [1] - The company aims to exceed 250,000 transactions per month, capitalizing on a marketplace with millions of monthly transactions [1] - CEO Thomas DeRosa expressed confidence in achieving cash break-even by the end of the year, highlighting strong operational momentum and growth trajectory [2] Company Overview - AppTech Payments Corp. provides digital financial services through a scalable cloud-based platform for financial institutions, corporations, SMEs, and consumers [3]

Part I [Business](index=5&type=section&id=Item%201.%20Business) AppTech provides digital payment and banking solutions through its FinZeo™ platform, targeting financial institutions, technology companies, and SMEs - AppTech's core offering is the FinZeo™ platform, which provides Payments-as-a-Service (PaaS) and Banking-as-a-Service (BaaS) through a modular, cloud-based architecture[21](index=21&type=chunk) - The company's growth strategy involves four key elements: (1) new product development, (2) market penetration, (3) market expansion, and (4) leveraging IP, strategic acquisitions, and partnerships[50](index=50&type=chunk) - The target market includes forward-thinking financial institutions, technology companies, and Small to Medium Enterprises (SMEs) that need to modernize their financial service offerings[43](index=43&type=chunk) - The company's historical business is merchant transaction services, supporting over 150 merchants by processing payments for credit/debit cards, ACH, and other programs[58](index=58&type=chunk) Fintech Industry Growth Projections | Metric | Value/Rate | Period | Source | | :--- | :--- | :--- | :--- | | ACH Payments (2022) | 30 billion payments, $76.7 trillion value | 2022 | Federal Reserve Payments Study | | Fintech Industry Growth | 16.5% CAGR | 2024-2032 | Statista | | Digital Banking (Neobanking) | Projected $2.6 trillion value | by 2027 | Statista | [Risk Factors](index=11&type=section&id=Item%201A.%20Risk%20Factors) As a smaller reporting company, AppTech is exempt from providing specific risk factor disclosures - The company is not required to provide risk factor disclosures as it qualifies as a smaller reporting company under Exchange Act Rule 12b-2[67](index=67&type=chunk) [Unresolved Staff Comments](index=11&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) This section is not applicable to the company - Not applicable[68](index=68&type=chunk) [Cybersecurity](index=11&type=section&id=Item%201C.%20Cybersecurity) AppTech manages cybersecurity risks through third-party experts, advanced technologies, and incident response plans, overseen by IT and Software Engineering directors, with no material impact to date - The company engages external cybersecurity consultants and auditors to evaluate and test its risk management systems, ensuring strategies align with best practices[70](index=70&type=chunk) - Primary responsibility for cybersecurity rests with the company's Director of Information Technology and Director of Software Engineering, who work with a third-party provider[76](index=76&type=chunk) - To date, cybersecurity risks have not materially affected the company, although it has experienced threats such as denial of service and phishing attacks[75](index=75&type=chunk) - The company maintains cyber insurance to mitigate the financial impact of potential cybersecurity incidents[79](index=79&type=chunk) [Properties](index=13&type=section&id=Item%202.%20Properties) AppTech leases its corporate headquarters in Carlsbad, California, and additional office space in Austin, Texas, owning no real property - The company's corporate headquarters is a leased office space of approximately **3,000 square feet** in Carlsbad, CA. It also leases office space in Austin, TX and does not own any real property[83](index=83&type=chunk) [Legal Proceedings](index=13&type=section&id=Item%203.%20Legal%20Proceedings) AppTech resolved three legal matters: NCR litigation dismissed, Infinios arbitration settled with liabilities extinguished, and a former employee lawsuit settled for **$172 thousand** - NCR Litigation: A lawsuit filed against NCR Payment Solutions was dismissed by both parties on March 11, 2024, with no impact on the company's financial statements[84](index=84&type=chunk) - Infinios Financial Services Litigation: An arbitration was settled, resulting in the extinguishment of an anti-dilution liability (**$72 thousand**) and a payable (**$249 thousand**) with no payments exchanged between the parties[86](index=86&type=chunk) - Litigation with Former Employees: A lawsuit with three former employees was settled in March 2025 for **$172 thousand**. This amount was accrued for at December 31, 2024[87](index=87&type=chunk) [Mine Safety Disclosures](index=13&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company - Not applicable[88](index=88&type=chunk) Part II [Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities](index=14&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Shareholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) AppTech's common stock and warrants trade on NASDAQ, with **33.3 million** shares outstanding as of March 31, 2025, and no cash dividends ever declared - The company's common stock and warrants are listed on the NASDAQ under the symbols "APCX" and "APCXW" respectively, following an uplisting on January 7, 2022[90](index=90&type=chunk) - The company has not declared or paid any cash dividends on its common stock since its inception[92](index=92&type=chunk) Stockholder Data as of March 31, 2025 | Security | Shares Outstanding | Number of Holders | | :--- | :--- | :--- | | Common Stock | 33,283,329 | 5,611 stockholders of record | | Preferred Stock | 14 | 11 shareholders | [Reserved](index=14&type=section&id=Item%206.%20%5BReserved%5D) This item is reserved and contains no information - Item 6 is reserved[95](index=95&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=14&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) AppTech's 2024 revenue decreased by **45%** to **$276 thousand**, while net loss significantly narrowed to **$8.9 million** due to reduced operating expenses, though recurring losses raise going concern doubts [Results of Operations](index=16&type=section&id=Results%20of%20Operations) In 2024, revenue decreased **45%** to **$276 thousand**, gross profit fell **29%**, but total operating expenses halved, leading to a **50%** improvement in loss from operations and a **52%** reduction in net loss Consolidated Results of Operations (Years ended December 31) | ($ in thousands) | 2024 | 2023 | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | $276 | $504 | (45%) | | Gross profit | $224 | $317 | (29%) | | General and administrative | $7,794 | $9,873 | (21%) | | Research and development | $1,977 | $3,498 | (43%) | | Impairment of Intangible assets | $– | $6,131 | (100%) | | Loss from operations | ($9,547) | ($19,185) | (50%) | | Net loss | ($8,933) | ($18,512) | (52%) | - The **45%** decrease in revenue was principally driven by the cancellation of a licensing arrangement and a reduction in legacy processing revenue[112](index=112&type=chunk) - General and administrative expenses decreased by **21%** due to lower salaries from a restructuring plan and a **$1.24 million** decrease in stock-based compensation[115](index=115&type=chunk) - Other income increased by **81%** to **$1.26 million**, primarily driven by a **$1.245 million** gain from the extinguishment of debt in 2024[119](index=119&type=chunk) [Liquidity and Capital Resources](index=18&type=section&id=Liquidity%20and%20Capital%20Resources) AppTech's cash decreased to **$868 thousand** in 2024, despite improved operating cash flow and **$8.2 million** raised from financing, with recurring losses raising substantial doubt about its going concern ability - The company has experienced recurring operating losses and its current financial condition raises substantial doubt about its ability to continue as a going concern[123](index=123&type=chunk) - Management is actively pursuing additional funding and implementing comprehensive expense reduction strategies to enhance financial stability[123](index=123&type=chunk)[124](index=124&type=chunk) Cash and Cash Equivalents | ($ in thousands) | Dec 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $868 | $1,281 | Summary of Cash Flows (Years ended December 31) | ($ in thousands) | 2024 | 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | ($7,457) | ($8,859) | | Net cash used in investing activities | ($1,159) | ($500) | | Net cash provided by financing activities | $8,203 | $7,178 | [Critical Accounting Policies and Estimates](index=20&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) AppTech's critical accounting policies involve significant estimates for goodwill and intangible asset valuation and impairment testing, with management concluding no significant goodwill impairment risk - Significant estimates are related to the valuation of goodwill and identifiable intangible assets from business combinations[131](index=131&type=chunk) - Goodwill is tested for impairment annually, or more frequently if indicators suggest impairment. The test compares the carrying amount of a reporting unit to its fair value, which is estimated using methods like Discounted Cash Flow (DCF)[138](index=138&type=chunk) - Management concluded that the fair value of the goodwill from the FinZeo acquisition significantly exceeds its carrying amount, and there is no significant risk of impairment[140](index=140&type=chunk) - Long-lived assets, such as capitalized software, are reviewed for impairment when events indicate the carrying amount may not be recoverable[141](index=141&type=chunk) [Qualitative and Quantitative Disclosures About Market Risk](index=22&type=section&id=Item%207A.%20Qualitative%20and%20Quantitative%20Disclosures%20about%20Market%20Risk) As a smaller reporting company, AppTech is exempt from providing market risk disclosures - The company is not required to provide this information because it qualifies as a "smaller reporting company"[151](index=151&type=chunk) [Financial Statements and Supplementary Data](index=22&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) The company's consolidated financial statements and related schedules are indexed on page 24 of the report - The consolidated financial statements and related schedules are indexed on page 24 and are incorporated by reference[152](index=152&type=chunk) [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=22&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants regarding accounting and financial disclosure - None[153](index=153&type=chunk) [Controls and Procedures](index=22&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls were ineffective as of December 31, 2024, due to a material weakness in financial reporting policies leading to post-close adjustments - Management concluded that disclosure controls and procedures were not effective as of December 31, 2024[154](index=154&type=chunk) - A material weakness was identified in internal control over financial reporting, attributed to "insufficient formal financial reporting policies and procedures resulting in material post-close adjustments"[157](index=157&type=chunk) - There were no material changes in internal controls over financial reporting during the fourth quarter of 2024[158](index=158&type=chunk) [Other Information](index=23&type=section&id=Item%209B.%20Other%20Information) No undisclosed Form 8-K information or Rule 10b5-1 trading arrangement changes occurred during the quarter ended December 31, 2024 - No information was required to be disclosed on Form 8-K that was not already reported for the quarter ended December 31, 2024[160](index=160&type=chunk) [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=23&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) This section is not applicable to the company - Not applicable[161](index=161&type=chunk) Part III This part incorporates information by reference from the company's 2025 Proxy Statement, covering directors, executive officers, corporate governance, executive compensation, and security ownership [Directors, Executive Officers and Corporate Governance](index=24&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors, executive officers, and corporate governance is incorporated by reference from the company's 2025 Proxy Statement - All information required by this item is incorporated by reference from the registrant's 2025 Proxy Statement[163](index=163&type=chunk)[164](index=164&type=chunk)[165](index=165&type=chunk) [Executive Compensation](index=24&type=section&id=Item%2011.%20Executive%20Compensation) Information on executive and director compensation is incorporated by reference from the company's 2025 Proxy Statement - All information required by this item is incorporated by reference from the registrant's 2025 Proxy Statement[167](index=167&type=chunk)[168](index=168&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=24&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Security ownership information is incorporated from the 2025 Proxy Statement, with a table detailing equity compensation plans showing **1.84 million** securities to be issued and **508 thousand** available - Information on security ownership of certain beneficial owners and management is incorporated by reference from the 2025 Proxy Statement[169](index=169&type=chunk) Equity Compensation Plan Information as of December 31, 2024 | Plan Category | Number of Securities to be Issued Upon Exercise | Weighted Average Exercise Price | Number of Securities Remaining Available for Future Issuance | | :--- | :--- | :--- | :--- | | Equity compensation plans approved by security holders | 1,841,157 | $1.13 | 508,167 | | Total | 1,841,157 | $1.13 | 508,167 | [Certain Relationships and Related Transactions, and Director Independence](index=25&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information on related party transactions and director independence is incorporated by reference from the company's 2025 Proxy Statement - All information required by this item is incorporated by reference from the registrant's 2025 Proxy Statement[172](index=172&type=chunk)[173](index=173&type=chunk) [Principal Accountant Fees and Services](index=25&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Information on principal accountant fees and services is incorporated by reference from the company's 2025 Proxy Statement - All information required by this item is incorporated by reference from the registrant's 2025 Proxy Statement[174](index=174&type=chunk) Part IV [Exhibits and Financial Statements Schedules](index=26&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statements%20Schedules) This section lists documents filed with the Form 10-K, including financial statements and exhibits, noting the omission of inapplicable financial statement schedules - This item lists the financial statements, financial statement schedules (omitted as not applicable), and exhibits filed with the report[177](index=177&type=chunk)[179](index=179&type=chunk) [Form 10-K Summary](index=26&type=section&id=Item%2016.%20Form%2010-K%20Summary) This section is not applicable to the company - Not applicable[178](index=178&type=chunk) [Financial Statements](index=27&type=section&id=Financial%20Statements) The consolidated financial statements present AppTech's financial position, operations, and cash flows, with the auditor's report highlighting recurring losses and going concern doubts [Report of Independent Registered Public Accounting Firm](index=28&type=section&id=Report%20of%20Independent%20Registered%20Public%20Accounting%20Firm) The auditor issued an unqualified opinion on the financial statements but included a "Going Concern" paragraph due to AppTech's limited revenues and recurring losses - The auditor issued an opinion that the consolidated financial statements are presented fairly in conformity with U.S. GAAP[182](index=182&type=chunk) - The audit report contains a "Going Concern" paragraph, noting that the company's limited revenues and recurring operating losses raise substantial doubt about its ability to continue as a going concern[183](index=183&type=chunk) - The auditor determined there were no critical audit matters arising from the current period audit[187](index=187&type=chunk) [Consolidated Balance Sheets](index=29&type=section&id=Consolidated%20Balance%20Sheets) As of December 31, 2024, total assets increased to **$9.0 million**, total liabilities decreased to **$3.5 million**, and total stockholders' equity rose to **$5.5 million** Consolidated Balance Sheet Highlights (as of December 31) | ($ in thousands) | 2024 | 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $868 | $1,281 | | Total current assets | $2,420 | $1,516 | | Total Assets | $8,986 | $8,353 | | Total current liabilities | $3,440 | $4,080 | | Total Liabilities | $3,519 | $4,159 | | Total stockholders' equity | $5,467 | $4,194 | [Consolidated Statements of Operations](index=30&type=section&id=Consolidated%20Statements%20of%20Operations) In 2024, revenues decreased to **$276 thousand**, but a significant reduction in operating expenses led to a net loss of **$8.9 million**, a substantial improvement from the prior year Consolidated Statement of Operations Highlights (Years ended December 31) | ($ in thousands, except per share data) | 2024 | 2023 | | :--- | :--- | :--- | | Revenues | $276 | $504 | | Gross profit | $224 | $317 | | Total operating expenses | $9,771 | $19,502 | | Loss from operations | ($9,547) | ($19,185) | | Net loss | ($8,933) | ($18,512) | | Basic and diluted net loss per common share | ($0.35) | ($1.01) | [Notes to the Consolidated Financial Statements](index=34&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) The notes detail AppTech's business, going concern issues, accounting policies for revenue, business combinations, intangible assets, goodwill, debt instruments, and stockholders' equity activity - The company acquired Alliance Partners, LLC ("FinZeo") on October 13, 2023, to acquire its intellectual property, personnel, and software platform[206](index=206&type=chunk) - The financial statements were prepared on a going concern basis, but recurring losses and limited revenues raise substantial doubt about the company's ability to continue[209](index=209&type=chunk) - In 2024, the company issued a **$1.1 million** convertible debenture and warrants, which were subsequently converted into common stock and exercised, leaving no further obligations to the purchaser[258](index=258&type=chunk)[262](index=262&type=chunk) - As of December 31, 2024, the company had **15,906,627** warrants and **5,446,785** stock options outstanding[293](index=293&type=chunk)[300](index=300&type=chunk) - The company has a net deferred tax asset of **$8.6 million** as of Dec 31, 2024, which is fully offset by a **100%** valuation allowance[304](index=304&type=chunk)

Financial Performance - AppTech Payments Corp. reported an operating loss of $2.1 million ($0.08 per share) in Q4 2024, an improvement from a $3.4 million loss in Q4 2023 ($0.18 per share) [1] - The total operating loss for the full year 2024 was $8.8 million ($0.35 per share), compared to $18.5 million ($1.01 per share) in 2023, indicating a significant reduction in losses [1] Organizational Changes - A new investor group committed $5 million to AppTech, leading to significant organizational changes, including the establishment of voting control of the Board of Directors and the replacement of key executives, including the CEO and CFO [2] - The new CFO, Felipe Corrado, expressed optimism about the organizational and operational improvements made in Q4, highlighting a bolstered capital position, reduced expenses, and a narrowed focus on potentially profitable customers [2] Company Overview - AppTech Payments Corp. provides digital financial services for financial institutions, corporations, small and midsized enterprises (SMEs), and consumers through a scalable cloud-based platform [3]

Core Points - AppTech Payments Corp. has received approval from the Nasdaq Hearings Panel to continue its listing on Nasdaq, contingent upon meeting specific conditions by March 31, 2025 [1] - The company must demonstrate that its shareholders' equity deficiency has been cured and plans to include this information in its 2023 10-K filing, expected by March 15, 2025 [1] - AppTech has until May 5, 2025, to comply with Nasdaq's minimum bid price requirement of $1 per share [1] - The CEO expressed gratitude for the support from Nasdaq and emphasized the company's commitment to meeting all listing requirements [2] - Recent restructuring efforts have positioned AppTech to generate significant revenue across multiple verticals, aiming to enhance shareholder value [2] Company Overview - AppTech Payments Corp. provides digital financial services through a scalable cloud-based platform for financial institutions, corporations, SMEs, and consumers [3] - The company holds exclusive licensing and partnership agreements along with a full suite of patented technology capabilities [3]

Core Insights - AppTech Payments Corp. has accepted the resignation of Luke D'Angelo as CEO and Executive Director, effective December 24, 2024, while he will continue as Chairman of the Board [1][2] - Thomas DeRosa has been appointed as Interim CEO following D'Angelo's resignation [1] - Meilin Yu's employment as Chief Financial Officer and Treasurer ended on December 24, 2024, with Felipe A. Corrado IV appointed to the role [3] Leadership Changes - Luke D'Angelo expressed pride in the company's accomplishments and commitment to support its future success in his new role as Chairman [2] - Thomas DeRosa brings over 40 years of experience in technology leadership and has been with AppTech since August 2023, focusing on strategic vision and operational excellence [7] - Felipe A. Corrado IV has over two decades of experience in financial roles and has served AppTech in various capacities for about three years [8] Company Overview - AppTech Payments Corp. provides digital financial services through a scalable cloud-based platform, catering to financial institutions, corporations, SMEs, and consumers [9]

Revolutionizing Financial Services Through AI Innovation and Financial InclusionSILICON VALLEY, Calif., Dec. 17, 2024 /PRNewswire/ -- PayToMe.co, an award-winning AI-powered fintech marketplace and one of the top 1% global startups, proudly announces its ranking as the #2 startup in the prestigious Hatcher+ Global Top 100 Startups for November 2024. This recognition highlights PayToMe.co's ability to harness cutting-edge technology to deliver transformative solutions for the global financial ecosystem. "Be ...

Core Points - AppTech Payments Corp. announced a $5 million investment from AFIOS Partners, with an average share price of $0.96, and the potential to raise an additional $14 million through warrants [1][2] - The Board of Directors has been reduced from seven to five members, with three new appointments from AFIOS Partners [1][3] - As of December 16, 2024, AppTech has received $2.5 million of the committed $5 million, and AFIOS will acquire up to 5.2 million shares and approximately 13 million warrants [2] Company Overview - AppTech Payments Corp. provides digital financial services through a scalable cloud-based platform for various clients, including financial institutions and SMEs [4] - The company holds exclusive licensing and partnership agreements along with a full suite of patented technology capabilities [4]

CARLSBAD, Calif., Nov. 15, 2024 (GLOBE NEWSWIRE) -- AppTech Payments Corp. (NASDAQ: APCX), a pioneering Fintech company powering frictionless commerce, announced its financial results for the third quarter ended September 30, 2024. Strategic HighlightsIn Q3 2024, AppTech continued its strategic focus on platform innovation, operational efficiency, and expanding partnerships within high-growth sectors such as credit unions, Independent Sales Organizations (ISOs), and airports, addressing the increasing deman ...

Revenue Performance - Revenue for the three months ended September 30, 2024, was approximately $43 thousand, a decrease of 69% compared to $140 thousand for the same period in 2023, primarily due to $34 thousand lower merchant processing revenue and $62 thousand lower licensing fees [162]. - Revenue for the nine months ended September 30, 2024, was approximately $224 thousand, a decrease of 38% compared to $363 thousand in 2023, primarily due to $161 thousand lower merchant processing revenue [163]. Compliance and Regulatory Issues - The company has until November 5, 2024, to regain compliance with Nasdaq's minimum bid price requirement of $1.00 after receiving a deficiency notification on May 9, 2024 [151]. - AppTech's common stock and warrants continue to trade on The Nasdaq Capital Market under the symbols "APCX" and "APCXW" despite recent compliance issues [153]. - The company has submitted a compliance plan to Nasdaq to regain and maintain compliance with listing requirements [154]. Financial Activities and Funding - A private placement offering closed on July 11, 2024, raising $1,100,000 through a 6% convertible debenture and a warrant to purchase up to 750,000 shares at an exercise price of $1.16 [145][146]. - Management is actively pursuing additional funding options and is confident in generating revenue within the next twelve months, although no assurances can be made [180]. - Net cash provided by financing activities for the nine months ended September 30, 2024, was approximately $4.4 million, an increase from $3.4 million in 2023, primarily from public offerings and convertible notes [186]. Expenses and Financial Health - Cost of revenue for the nine months ended September 30, 2024, was approximately $49 thousand, representing a decrease of 69% from $159 thousand in 2023, driven by a reduction in residual payouts [164]. - General and administrative expenses for the nine months ended September 30, 2024, were approximately $6.7 million, a decrease of 6% from $7.1 million in 2023, primarily due to lower stock-based compensation [166]. - Research and development expenses for the nine months ended September 30, 2024, were approximately $1.3 million, down from $2.8 million in 2023, due to lower stock-based compensation and reclassification of expenses [168]. - Impairment of intangible assets was approximately $0 for the nine months ended September 30, 2024, compared to $6.1 million in 2023, as the company wrote off the impaired asset related to Infinios [170]. - Net cash used in operating activities for the nine months ended September 30, 2024, was approximately $5.0 million, compared to $6.5 million in 2023, reflecting a reduction in net loss and adjustments for non-cash expenses [182]. - As of September 30, 2024, the company had cash and cash equivalents of approximately $104 thousand and working capital of negative $4.8 million [176]. - The company has experienced recurring operating losses, raising substantial doubt about its ability to continue as a going concern [179]. Product and Service Offerings - AppTech's FinZeo™ platform offers Payments-as-a-Service (PaaS) and Banking-as-a-Service (BaaS), enhancing digital payment and banking solutions for clients [131][133]. - The company aims to accelerate digital transformation through its automated underwriting portal, which expedites business onboarding [133]. - AppTech's flexible architecture allows for white labeling, providing personalized payment and banking experiences for merchants and partners [136]. Equity and Warrant Transactions - AppTech sold warrants to Armistice Capital Master Fund Ltd. for up to 1,666,667 shares at an exercise price of $4.64 per share in February 2023 and $2.74 per share in October 2023 [139][140]. - The company is prohibited from entering into subsequent equity sales for a 45-day period following the Warrant Inducement Agreement with Armistice, which involved a reduced exercise price of $0.70 per share [141].

CARLSBAD, Calif., Aug. 14, 2024 (GLOBE NEWSWIRE) -- AppTech Payments Corp. (Nasdaq: APCX) (“AppTech” or the “Company”), a pioneering Fintech company powering frictionless commerce, today announces its financial results for the second quarter ended June 30, 2024, showcasing strategic progress and continued operational efficiency. Financial Highlights Revenue PerformanceReported revenue of approximately $76 thousand for Q2 2024, reflecting a decrease of $134 thousand in the same period last year due to lower ...