Company: APCXW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001683168-25-008326
Chunk: 33

Company: AppTech Payments Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part II, Item 8
Chunk 33
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 Purchase on October 26,
2023.

On October 31, 2023, the Company issued 1 million
shares of its common stock to an entity owned by the seller. In exchange for the shares, the seller waived, cancelled, and forgave the
long-term debt of Alliance Partners.

The remaining outstanding payable related to the
original purchase price as of September 30, 2025 is $1,200 thousand, and the payable is secured by substantially all the Company’s
assets.

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.

     9 

In late 2024, we reorganized senior leadership
and initiated actions to reduce indebtedness to improve the current financial condition of the Company. In addition, we are actively pursuing
additional funding options and are confident that our revenue streams will begin generating cash, although no assurances can be made.

Management continues to maintain adequate working
capital and adhere to prudent financial forecasting.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES

Basis of Presentation

The accompanying unaudited condensed consolidated
financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.
GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”).
In the opinion of the Company’s management, the accompanying financial statements reflect all adjustments, consisting of normal,
recurring adjustments, considered necessary for a fair presentation of the results for the interim periods ended September 30, 2025
and September 30, 2024. Although management believes that the disclosures in these unaudited financial statements are adequate to
make the information presented not misleading, certain information and footnote disclosures normally included in unaudited condensed consolidated
financial statements that have been prepared in accordance with U.S. GAAP have been omitted pursuant to the rules and regulations of the
SEC. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s financial statements
and notes related thereto and included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with
the SEC on March 31, 2025. The interim results for the nine months ended September 30, 2025 are not necessarily indicative of the