Company: APCXW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002130
Chunk: 624

Company: AppTech Payments Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 624
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 those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the
consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by
management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide
a reasonable basis for our opinion.

Critical Audit Matter

Critical audit matters are matters arising from
the current period audit of the consolidated financial statements that were communicated or required to be communicated to the audit committee
and that: (1) relate to accounts or disclosures that are material to the consolidated financial statements and (2) involved our especially
challenging, subjective, or complex judgments. We determined there were no critical audit matters.

    /s/ dbbmckennon

    We have served as the Company’s auditor since 2014
  
    San Diego, California
  
    March 31, 2025

 25 

APPTECH
PAYMENTS CORP.

CONSOLIDATED BALANCE SHEETS

($ in thousands, except per share data)

    December 31, 2024  
    December 31, 2023 
  
    ASSETS 

    Current assets 

    Cash and cash equivalents 
    $868  
    $1,281 
  
    Accounts receivable 
     43  
     30 
  
    Prepaid expenses 
     159  
     205 
  
    Other current assets 
     1,350  
     – 
  
    Total current assets 
     2,420  
     1,516 
  
    Note receivable 
     –  
     26 
  
    Right of use asset 
     86  
     66 
  
    Security deposit 
     86  
     9 
  
    Intangible assets, net of accumulated amortization 
     3,410  
     4,428 
  
    Goodwill 
     1,161  
     1,161 
  
    Capitalized software development, net of accumulated amortization 
     1,823  
     1,147 
  
    TOTAL ASSETS 
    $8,986  
    $8,353 

    LIABILITIES AND STOCKHOLDERS’ EQUITY 

    Current liabilities 

    Accounts payable 
    $1,853  
    $1,799 
  
    Accrued liabilities