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

Company: AppTech Payments Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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ables due to seller for acquisition 
    $1,200  
    $1,200 
  
    Accrued payroll 
     49  
     202 
  
    Accrued residuals 
     –  
     15 
  
    Other 
     62  
     102 
  
    Total accrued liabilities 
    $1,311  
    $1,519 

In connection with the original Purchase of Alliance
Partners, $1,200 thousand remained outstanding as of September 30, 2025 and December 31, 2024. The payable amount is secured by substantially
all the Company's assets.

See Note 1 – Purchase of Alliance
Partners, LLC.

NOTE 5 – NOTES PAYABLE 

The
Company has a 30-year unsecured note payable with the U.S. Small Business Administration which incurs interest at 3.75%
per annum. Payments totaling $4 thousand
are due each year through the maturity date of July 1, 2050.

As of September 30, 2025 and December 31,
2024, the balance of the note payable was $60 thousand and $61 thousand, respectively.

On April 11, 2025, the Company entered a three-party
agreement with one of its banking partners and software providers. Under the terms of the arrangement, AppTech agreed to pay a $103 thousand
perpetual licensing fee (payable in six equal monthly installments through October 1) to the software provider. In addition, the banking
partner held a $250 thousand note receivable bearing 8% interest with the software provider, while the software provider held an offsetting
liability to the banking partner. As part of this arrangement, AppTech assumed the note receivable and offsetting note payable to the
software provider and banking partner, respectively. AppTech further paid the accumulated interest to the bank and established an interest
receivable from the software provider. The note receivable can be converted into equity of the software provider’s Company. The
note receivable matures on June 2026, and may be converted early if a financing event occurs. The note payable is due on demand but no
later than June 30, 2026 and the interest expense incurred is paid out quarterly. As of September 30, 2025, the principal and accrued
interest on the note receivable was $250 thousand and $41 thousand, respectively. In addition,