Company: APCXW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001683168-25-003561
Chunk: 13

Company: AppTech Payments Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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holder vote, without the right to cumulative voting in director elections. They are eligible for dividends,
if declared by the Board of Directors from legally available funds, subject to the prior rights of any outstanding preferred stock and
any contractual restrictions on dividend payments. In the event of liquidation or dissolution, common stockholders share ratably in any
assets remaining after payment of liabilities and satisfaction of liquidation preferences of any outstanding preferred stock. Common stock
carries no preemptive or subscription rights and is not convertible into other securities.

Stock Issued for Services

During
the three months ended March 31, 2025 and 2024, the Company issued 10,000 and 40,000, respectively, shares of common stock to several
consultants in connection with business development and professional services. The Company valued the common stock issuances at $4 thousand
and $60 thousand, respectively, based upon the closing market price of the Company’s common stock on the date of the agreement.

Stock Issued related to Acquisition

On March 1, 2024, the Company issued 15,000 shares
of common stock to the former owner of Alliance Partners as consideration for extending the payment due date
for the remaining balance of the Purchase consideration due.

See Note 1 - Purchase of Alliance Partners,
LLC.

Equity Receivable

As of March 31, 2025, $1,350 thousand was collected
as part of the equity receivable with AFIOS Partners, 1,350 thousand warrants were issued with an exercise price of $0.90 and 2,025 thousand
warrants were issued with an exercise price of $1.20. in May 2025, an additional $500 thousand was received. The stock and warrants were
no issued as of the date of this filing.

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