Company: APCXW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002130
Chunk: 1063

Company: AppTech Payments Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 15
Chunk 1063
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or tapped into via our RESTful APIs to build fully branded and customizable experiences while supporting tokenized, multi-channel, and
multi-method transactions.

The Company successfully completed its uplisting onto
Nasdaq Capital Market (“NASDAQ”) on January 7, 2022. AppTech trades under the symbol “APCX” and its warrants trade
under the symbol “APCXW”.

In April 2022, the Company acquired HotHand Inc. (“HotHand”),
a patent-holding company. These patents are focused on the delivery, purchase, or request of any products or services within specific
geolocation and time parameters, provided by a consumer’s cell phone anywhere in the United States, and protect all mobile phone
advertising, including in a store’s mobile application. The Company is actively pursuing licensing revenue associated with these
patents.

In June 2023, the Company entered into licensing agreements
with InstaCash and PayToMe.co. The licensing arrangement with InstaCash was terminated in December 2024.

The shares related to the 7.5% preferred share equity
stake in PayToMe.co have not been issued as of the date of this filing. Additionally, PayToMe.co is a related party to AppTech. Senior
members of the Company sit on PayToMe.co's board of directors and AppTech's former Chief Financial Officer is married to its founder and
Chief Executive Officer.

Purchase of Alliance Partners, LLC

On October 13, 2023, the Company entered into a purchase
agreement to acquire 100% of Alliance Partners, LLC, a Nevada based software development limited liability company (“Alliance Partners”,
“FinZeo”). As consideration for the purchase, the Company agreed to pay the Seller total consideration of $2,000 thousand
in cash and assume certain short-term and long-term liabilities of Alliance Partners. The primary reason for the purchase was to acquire
FinZeo's intellectual property, personnel, and software platform.

The Company closed the Transaction 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 FinZeo.

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Liquidity and Going Concern Considerations

The Company has experienced recurring operating losses, primarily
due to limited revenues. The Company's current financial conditions and recurring losses