Company: APCXW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002130
Chunk: 469

Company: AppTech Payments Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 469
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 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, adjusted for non-cash expenses totaling $2,175 thousand (which includes
adjustments for equity-based compensation, depreciation and amortization), and (ii) is decreased by changes in operating assets and liabilities
of approximately $699 thousand.

Net cash used in operating activities during the year
ended December 31, 2023, was approximately $8,859 thousand, which is comprised of (i) our net loss of $18,512
thousand, adjusted for non-cash expenses totaling $10,306 thousand (which includes
adjustments for equity-based compensation, depreciation and amortization), and (ii) is decreased by changes in operating assets and liabilities
of approximately $653 thousand.

Cash Flow from Investing Activities

Net cash used by investing activities during the
year ended December 31