Company: APCXW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002130
Chunk: 392

Company: AppTech Payments Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 392
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 professional, and employment services with a value of $267 thousand and $906 thousand, respectively.

Stock Issued with Note Payable

On June 10, 2024, the Company entered into a 60-day
unsecured note agreement with Black Ice Advisors, LLC, a third-party lender, for proceeds of $200 thousand and flat interest of $30 thousand.
Additionally, the Company issued 30,000 shares of AppTech Common Stock to the lender on June 17, 2024 with a fair value of $27 thousand.
On August 12, 2024, the outstanding balance of the note payable of $230 thousand, was repaid.

Refer to Note 6 - Note Payables.

Stock Issued for Convertible Note

See Note 6 -
Note Payable - Convertible Note.

Equity Issued
related to Acquisition

On October 26,
2023, the Company completed the acquisition of FinZeo. The Seller received cash as part of the acquisition. See Note 1 - Purchase of
Alliance Partners, LLC.

As of December
31, 2024, the payment terms under the Purchase Agreement with Alliance Partners, LLC, were
amended as follows: 1) $150,000 due on or before July 11, 2024; 2) Remaining payments are deferred until either February 1, 2025, or until
the Company generates $400,000 in monthly revenue from the FinZeo products (after cost of sales, excluding operating expenses). At the
time of this filing, the Seller and Company are discussing updated payment terms.

In consideration
for modifying the original payment schedule, the Seller received a total of 15,000 shares
of AppTech Payments Corp. and 55,000 options to purchase shares of the Company’s stock.

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Stock Options

The Company grants stock options as part of employee
compensation and recognizes these options’ expense over the vesting period. If an employee does not meet certain conditions such
as sales targets or leaves the Company before the options vest, these options are forfeited as they occur.

On December 7, 2021, the board authorized the Company’s
Equity Incentive Plan to facilitate the grant of equity incentives to employees (including our named executive officers), directors, independent
contractors, merchants, referral partners, channel partners, and employees of our company. This plan is essential for attracting, retaining,
and motivating these key personnel, which is