Company: APCXW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002130
Chunk: 1075

Company: AppTech Payments Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 15
Chunk 1075
---
 Payments 
    $91 
  
    Less: Imputed interest 
     (5)
  
    Total Minimum Future Lease Payments 
    $86 

The rent expense was $80 thousand and $85 thousand
for the years ended December 31, 2024 and 2023, respectively.

     38 

NOTE 8 – COMMITMENTS AND CONTINGENCIES

The Company
may be involved in various claims and legal actions arising in the ordinary course of business. The Company establishes an accrued liability
for legal proceedings only when those matters present loss contingencies that are both probable and reasonably estimable.

Convertible Note and Warrant Litigation

On
July 14, 2021, EMA Financial LLC (“EMAF”), filed a complaint in the United States District Court for the Southern District
of New York against the Company alleging breach of contract. In April 2023, EMAF and AppTech entered into a settlement and release agreement.
The related convertible note, warrants, and derivative liabilities were extinguished resulting in a gain of $250 thousand for the year
ended December 31, 2023.

NCR
Litigation

On
November 30, 2022, AppTech filed a complaint against NCR Payment Solutions, LLC in the United States District Court for the Southern District
of California alleging Breach of Contract, Breach of Implied Covenant of Good Faith and Fair Dealing, Specific Performance and Accounting.
On March 11, 2024, both parties agreed to dismiss the lawsuit. There was no impact to the financial statements. 

Infinios Financial Services
Litigation

On May 4, 2023, the Company notified Infinios
of its intent to terminate its relationship and commenced a good-faith negotiation with Infinios.

In October 2023, the Company and Infinios
entered into arbitration.

As of December 31, 2024, the parties settled
the lawsuit under a confidential Settlement Confirmation letter whereby the terms of the Settlement Agreement and Mutual Release were
fulfilled. Under the settlement, no payments were exchanged between the parties, and both the anti-dilution liability and the payable
owed to Infinios were fully extinguished. The matter is closed.

Litigation with Former Employees

On May 3, 2024, the Company was sued by three former employees over
severance payments. On February 14, 2025, the Company filed a cross complaint against the Plaintiffs for breach