Company: APCXW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001683168-25-006148
Chunk: 43

Company: AppTech Payments Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part II, Item 8
Chunk 43
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SEQUENT EVENTS

On
July 1, 2025, the Company entered into a separation agreement with its former Chief Executive Officer and Chairman of the Board.  Under
the terms of the arrangement, all previously issued options were canceled and he was instead granted 700 thousand vested options, and
300 thousand performance-based options. The options have a three-year life and carry an exercise price of $1. 

On
July 8, 2025, the former Corporate Secretary resigned and his options were extended for three years.

On
July 23, 2025, the Company entered a twelve-month unsecured convertible note agreement with Labrys Fund II, LP, with a principal value
of $360 thousand dollars and an interest rate of 10%. The discount on the note was $60 thousand. The maturity date of the note is July
23, 2026. The note can be converted early at the lender’s discretion  at
a $2 conversion price. On after April 21, 2026, the note would be converted into shares of common stock at the lower of $2 or 80% of
the volume weighted average price for the preceding 10 trading days. 

On
August  7, 2025, the Company entered a twelve-month unsecured
convertible note agreement with GS Capital Partners, LLC with a principal value of $300 thousand dollars and an interest rate of
10%. The discount on the note was $50 thousand. The maturity date of the note is August 7, 2026, with fixed monthly payments
beginning 180 days after issuance. The note can be converted
early at the lender’s direction  at a $2 conversion
price. In the event of a default, the note would be converted into shares of common stock at the lower of $2 or 80% of the volume
weighted average price for the preceding 10 trading days. 

 19 

Item 2. Management’s Discussion and Analysis
of Financial Condition and Results of Operations.

The following discussion and analysis of our financial
condition and results of operations should be read together with the audited consolidated financial statements and related notes included
elsewhere in this report. Certain statements contained in this report, including statements regarding the anticipated development and
expansion of our business, our intent, belief or current expectations, primarily with respect to the future operating performance of our
company and the products and services we expect to offer and other statements contained herein regarding matters that are