Company: APCXW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001683168-25-006148
Chunk: 16

Company: AppTech Payments Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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,025 thousand
warrants were issued with an exercise price of $1.20. An additional $500 thousand was received in May 2025 and $200 thousand in June 2025.
As part of its investment, AFIOS Partners received 700 thousand shares of restricted stock, 700 thousand warrants with an exercise price
of $0.90, and 1,050 thousand warrants with an exercise price of $1.20.

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 of Directors authorized the Company’s Equity Incentive Plan in order 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 the Company’s to enable the Company to attract, retain and motivate
employees, directors, merchants, referral partners and channel partners, which is essential to its long-term success. A total of 2,702,632
shares of common stock were previously authorized under the Company’s Equity Incentive Plan. As of June 30, 2025, 279,579
shares were cancelled as part of employee terminations and 1,250
thousand shares were added to the plan as part of the shareholder meeting. In total as of June 30, 2025, 2,037,746
shares are available for issuance.

     17 

On January 21, 2025, the Company extended the expiration
term of vested and outstanding stock options to the former CFO. The fair value was calculated both on the modification date and prior
to the modification. The Company recorded an option modification expense of $49 thousand.

During the six months ended June 30, 2025, the Company
granted 2,042,911 options to purchase common stock. The grants included:

1)1,538,332 options were awarded to the former and current board of directors. The fair value of these options,
which are non-plan with a ten-year expiration term, total $646 thousand. These options have an exercise price ranging from $0.43 to $1.05
per share and a weighted average fair value of $0.42 per share on the issuance