Company: APCXW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002130
Chunk: 304

Company: AppTech Payments Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 304
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 by a $1,245 thousand gain from extinguishment of debt related to
2024, less the $430 thousand gain from the cancellation of stock repurchase liabilities and gain of $250 thousand from extinguishment
of debt related to 2023.

Liquidity and Capital Resources

The Company routinely evaluates its immediate working
capital needs and liquidity sources. For the years ended December 31, 2024 and 2023, the Company maintained its liquidity sources primarily
through cash and cash equivalents, and proceeds received from various registered offerings such as public registered offerings and “at-the-market”
offerings (ATM). Additionally, we used equity and equity-linked instruments to pay for services and compensation.

Cash and cash equivalents at December 31, 2024 and
2023 were $868 thousand and $1,281 thousand, respectively.

During the year ended December 31, 2024, we met
our immediate cash requirements through existing cash balances, public offerings, “at-the-market” offerings (ATM), a debt
financing, and a $2,500 thousand direct investment.

See Note 9 – Stockholders’ Equity.

 15 

Management's Plan to Address Going Concern Considerations

The Company has experienced recurring operating losses,
primarily due to limited revenues. The Company's current financial conditions and recurring losses raise substantial doubt about its ability
to continue as a going concern.

Management is actively pursuing additional funding
options and is confident that its revenue streams will begin generating revenue in the following twelve months from the issuance date
of these financial statements.

Management intends to maintain adequate working
capital and adhere to prudent financial forecasting. In December 2024, Management began implementing comprehensive expense reduction strategies
across the Company’s operations to enhance financial stability.

Cash Flows

The following table presents a summary of cash flows
from operating, investing and financing activities ($ in thousands):

    2024  
    2023 

    Net cash used in operating activities 
    $(7,457) 
    $(8,859)
  
    Net cash used in investing activities 
    $(1,159) 
    $(500)
  
    Net cash provided by financing activities 
    $8,203  
    $7,178 

Cash Flow from Operating Activities

Net cash used in operating activities during the
year ended December 31, 2024 was approximately $7,457 thousand, which is comprised of (i) our net loss of $8,933
thousand,