Company: APCXW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001683168-25-006148
Chunk: 36

Company: AppTech Payments Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part II, Item 8
Chunk 36
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480) 
     (1,018)
  
    Ending balance 
    $2,930  
    $3,410 

     13 

Capitalized Development Cost 

The Company capitalizes certain costs related to the
development of its digital payment and banking platform.

As of June 30, 2025, and December 31, 2024, the gross
value of capitalized development cost is $2,647 thousand and accumulated amortization is approximately $1,075 thousand and $824 thousand,
respectively.

    Schedule of capitalized development cost 

    Capitalized Development Cost 
    June 30, 2025  
    December 31, 2024 
  
    Beginning balance 
    $1,823  
    $1,147 
  
    Additions 
     –  
     1,081 
  
    Impairment 
     –  
     – 
  
    Amortization expenses 
     (251) 
     (405)
  
    Ending balance 
    $1,572  
    $1,823 

Goodwill

On October 26, 2023, the Company completed the Purchase
of Alliance Partners. The difference between the fair value of the purchase price and the net assets acquired is recorded as goodwill.
As of June 30, 2025, the Company recorded goodwill of approximately $1,161 thousand.

See Note 1 - Purchase of Alliance Partners, LLC.

     14 

NOTE 4 – ACCRUED LIABILITIES 

Accrued liabilities as of June 30, 2025 and December 31,
2024 are as follows:

    Schedule of accrued liabilities 

    June 30, 2025  
    December 31, 2024 
  
    Payables due to seller for acquisition 
    $1,200  
    $1,200 
  
    Accrued payroll 
     83  
     202 
  
    Accrued residuals 
     –  
     15 
  
    Other 
     82  
     102 
  
    Total accrued liabilities 
    $1,365  
    $1,519 

In connection with the original Purchase of Alliance
Partners, $1,200 thousand remained outstanding as of June 30, 2025 and December 31, 2024. The payable amount is secured by substantially
all the Company's assets.

See Note