Company: APCXW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002130
Chunk: 23

Company: AppTech Payments Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 23
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agreements with Accounts
on Accounting and Financial Disclosure

None.

Item 9A. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of
our management, including the Chief Executive Officer and the Chief Financial Officer, we evaluated the effectiveness of the design and
operation of our “disclosure controls and procedures” (as defined in Rule 13a-15(e) under the Exchange Act) as of the end
of the period covered by this report. Based on that evaluation, the Chief Executive Officer and the Chief Financial Officer concluded
that our disclosure controls and procedures were not effective as of December 31, 2024 due to the material weaknesses in our internal
control over financial reporting as described below.

A material weakness is a deficiency, or a combination
of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement
of the Company’s annual or interim consolidated financial statements will not be prevented or detected on a timely basis.

 19 

Our
management is also responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Exchange
Act Rules 13a-15(f) and 15d-15(f)) for us. Our management, including our Chief Executive Officer and Chief Financial Officer, evaluated,
as of December 31, 2024, the effectiveness of our internal control over financial reporting using the framework in Internal Control –
Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on that evaluation,
our management concluded that our internal control over financial reporting was not effective as of December 31, 2024. 

The management has identified a material weakness
in our internal control over financial reporting, primarily due to insufficient formal financial reporting policies and procedures resulting
in material post-close adjustments.

Policies and procedures should be implemented to ensure that any significant
events requiring disclosure are identified, accounted for, disclosed and reviewed by the management.

Changes in Internal Control over Financial Reporting

There have been no material changes in our internal
controls over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) during the fourth quarter of 2024
that materially affected, or is reasonably likely to materially affect, our internal controls over financial reporting.

Limitations on the Effectiveness of Controls

Due to the inherent limitations in all control systems,
no evaluation of controls can provide absolute assurance