CARLSBAD, Calif., Feb. 01, 2024 (GLOBE NEWSWIRE) -- AppTech Payments Corp. (NASDAQ:APCX) ("AppTech" or the "Company"), a pioneering Fintech company powering frictionless commerce, today announced the Company's licensee PayToMe.co, an award-winning Digital Payment Platform, has successfully collaborated and integrated Plaid's technology into their platform, marking a significant advancement in AppTech's intellectual property and licensing business. This milestone enhances PayToMe.co's offerings, including se ...

CARLSBAD, Calif., Jan. 26, 2024 (GLOBE NEWSWIRE) -- AppTech Payments Corp. (NASDAQ:APCX) ("AppTech" or the "Company"), a pioneering Fintech company powering frictionless commerce between business-to-business and business-to-consumer, announces a strategic partnership with First Inning Ventures (FIV), an international sports marketing and consulting agency. Luke D'Angelo, AppTech CEO, commented, "The collaboration with First Inning aligns seamlessly with our vision to drive new revenue within addressable mar ...

Delaware 7389 65-0847995 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Number) 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 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT ...

Table of Contents | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------|-------|---------------------------| | | | | | Common Stock, $0.001 par value per share Warrants, each whole warrant exercisable for one share | APCX | Nasdaq Capital Market | | of common stock at an exercise price of $4.15 | APCXW | Nasdaq Capital Market | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark O ...

Delaware 7389 65-0847995 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Number) 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 Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated Filer ☒ Smaller reporting company ☒ Emerging growth company ☐ Table ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-27569 AppTech Payments Corp. (Exact Name of Registrant as Specified in its Charter) Delaware 7389 66-0847995 (State or other jurisdi ...

Financial Performance - For the three months ended June 30, 2022, revenues were $123,000, a decrease of 18.5% compared to $151,000 for the same period in 2021[21]. - For the six months ended June 30, 2022, revenues totaled $227,000, down 10.0% from $252,000 in the prior year[21]. - Gross profit for the three months ended June 30, 2022, was $61,000, representing a gross margin of 49.6%, compared to $115,000 and a margin of 76.2% in 2021[21]. - Gross profit for the six months ended June 30, 2022, was $114,000, down 37.3% from $182,000 in the same period of 2021[22]. - The net loss for the three months ended June 30, 2022, was $4,127,000, compared to a net loss of $6,341,000 for the same period in 2021, indicating an improvement of 34.8%[23]. - For the six months ended June 30, 2022, the net loss was $9,582,000 compared to a net loss of $72,634,000 for the same period in 2021, indicating a significant improvement[28]. - The company reported a basic and diluted net loss per common share of $0.25 for the three months ended June 30, 2022, compared to $0.58 for the same period in 2021[23]. - The company issued stock-based compensation totaling $4,603,000 for the six months ended June 30, 2022, compared to $4,815,000 for the same period in 2021[28]. - Net cash used in operating activities of $5,378,000 for the six months ended June 30, 2022, compared to $726,000 for the same period in 2021[28]. Assets and Liabilities - As of June 30, 2022, total assets were $16,189,000, an increase from $7,557,000 as of December 31, 2021[19]. - Total liabilities decreased to $4,947,000 as of June 30, 2022, from $7,513,000 at the end of 2021[18]. - Total current liabilities decreased to $4,749,000 as of June 30, 2022, from $7,283,000 on December 31, 2021, a reduction of approximately 34.5%[17]. - Stockholders' equity increased to $11,242,000 as of June 30, 2022, compared to $44,000 on December 31, 2021, reflecting significant growth[19]. - Cash and accounts receivable as of June 30, 2022, were $7,790,000, down from $8,840,000 on December 31, 2021[15]. - Total accrued liabilities decreased from $3.136 million as of December 31, 2021, to $1.651 million as of June 30, 2022, reflecting improved financial management[62]. - The carrying value of derivative liabilities as of June 30, 2022, was $426 thousand, with no Level 1 or Level 2 liabilities reported[47]. Strategic Initiatives - The company is anticipating the launch of a text payment platform and other advanced payment solutions, which may impact future revenues[9]. - AppTech is developing a highly secure digital payments and banking platform to enhance commerce experiences for clients and their customers[32]. - The company announced its intent to launch a patented mobile text payment solution along with a suite of digital banking and payment acceptance products[34]. - The company has entered into a strategic partnership with Infinios to extend its product offerings to include secure payment acceptance and issuer payment processing[33]. - The company expects to generate revenues from the HotHand intellectual property near the end of the first quarter of 2023, indicating future revenue growth potential[60]. Research and Development - Total research and development costs for the six months ended June 30, 2022, were $4.9 million, compared to $0 in the same period of 2021, indicating a significant increase in investment in R&D[49]. - Research and development expenses for the six months ended June 30, 2022, were $4,936,000, compared to $0 in the same period of 2021, indicating increased investment in innovation[23]. Stock and Equity - The company completed a reverse stock split of 9.5 to 1 as part of its capital raise and uplisting onto NASDAQ[34]. - AppTech's stock trades under the symbol "APCX" following its re-domicile to Delaware and name change[34]. - The number of common stock equivalents not included in diluted income per share increased from 1,272,001 for the six months ended June 30, 2021, to 6,176,102 for the same period in 2022, suggesting potential dilution concerns[52]. - The company has a total of 1,052,632 shares authorized under the Equity Incentive Plan, with 349,297 shares available for issuance as of June 30, 2022[108]. Financing Activities - The net proceeds from the offering on January 7, 2022, amounted to approximately $13.4 million, following the sale of 3,614,458 units of common stock at $4.15 per unit[34]. - The Company completed a follow-on offering on January 7, 2022, selling 3,614,458 units at $4.15 per unit, providing net proceeds of approximately $13.4 million[89]. - The Company issued a $300 thousand convertible note in 2020 with a 12% annual interest rate, maturing in 365 days, which increases to 24% upon maturity[67]. - As of June 30, 2022, the convertible note payable balance was $280 thousand with accrued interest of $85 thousand, compared to $39 thousand as of December 31, 2021[69]. - The Company entered into a 30-year unsecured note payable with the U.S. Small Business Administration for $68 thousand, incurring interest at 3.75% per annum[72]. - As of June 30, 2022, the aggregate balance of notes payable was $597 thousand with accrued interest of $133 thousand, down from $383 thousand as of December 31, 2021[73]. Compliance and Regulatory - The company has not experienced any losses related to cash and cash equivalents maintained at financial institutions, despite balances exceeding federally insured limits of $250 thousand[39]. - The company has accrued $1.3 million related to anti-dilution provisions as of December 31, 2021, reflecting ongoing compliance with financial agreements[64].