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 ...

Table of Contents Delaware 7389 65-0847995 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value per share APCX Nasdaq Capital Market Warrants, each whole warrant exercisable for one share of common stock at an exercise price of $4.15 APCXW Nasdaq Capital Market UNITED STATES SECURITIES AND EXCHAN ...

CARLSBAD, Calif., June 11, 2024 (GLOBE NEWSWIRE) -- AppTech Payments Corp. (NASDAQ:APCX) ("AppTech" or the "Company"), a pioneering Fintech company powering frictionless commerce, announces today a strategic partnership with FISB Solutions ("FISB") whereby the Company will update the legacy core banking systems represented by FISB with the latest neobank technologies, empowering hundreds of community banks with a competitive advantage in the digital banking era. AppTech Founder and CEO Luke D'Angelo stated, ...

CARLSBAD, Calif., May 16, 2024 (GLOBE NEWSWIRE) -- AppTech Payments Corp. (Nasdaq: APCX), a pioneering Fintech company powering frictionless commerce, announces today the successful completion of the pilot program for its Banking-as-a-Service (BaaS) platform. The Company will use this BaaS solution to commercially launch InstaCash, which utilizes the BaaS for virtual accounts, debit and credit cards, and high interest-yielding financial products. AppTech CEO Luke D’Angelo stated, “The success of our BaaS pi ...

Core Insights - AppTech Payments Corp. has successfully completed the pilot program for its Banking-as-a-Service (BaaS) platform, which will be used to launch InstaCash, a service offering virtual accounts, debit and credit cards, and high-yield financial products [1][2] Company Overview - AppTech Payments Corp. is a Fintech company focused on providing digital financial services to financial institutions, corporations, small and medium-sized enterprises, and consumers through a scalable cloud-based platform [5] Product Launch and Features - InstaCash aims to provide a seamless, real-time account-to-account transaction system, positioning itself as a competitor to Venmo and Western Union, while ensuring customer relationships remain with the financial institutions [3][4] - The BaaS pilot program included features such as virtual accounts, commercial purchase debit cards, and enhanced traditional services like SMS invoicing for B2B transactions [2] Market Positioning - InstaCash is designed to empower financial institutions of all sizes, enabling them to offer instant transactions and advanced payment features, thus democratizing access to cutting-edge Fintech solutions [4] - The service is expected to attract over 200 new Independent Sales Organizations to utilize the BaaS platform in the near term, driving user growth [2] Social Impact Initiative - AppTech plans to enhance financial literacy among underbanked demographics by integrating online financial literacy courses into the InstaCash platform, with plans to expand this initiative across the United States and into South America and Canada [4]

SAN DIEGO, May 15, 2024 (GLOBE NEWSWIRE) -- AppTech Payments Corp. (NASDAQ:APCX), a pioneering Fintech company powering frictionless commerce, today announced its financial results for the first quarter ended March 31, 2024, demonstrating significant revenue growth and strategic progress. Financial Highlights: Revenue Growth: Reported revenue of approximately $105,000 for Q1 2024, reflecting an 18% increase from $89,000 in the same period last year, driven primarily by dynamic licensing activities and innov ...