Company: APCXW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001683168-25-008326
Chunk: 32

Company: AppTech Payments Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part II, Item 8
Chunk 32
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(in thousands, except per share data)

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

AppTech Payments Corp. (“AppTech”
or the “Company”), a Delaware corporation, is a Fintech Company headquartered in Carlsbad, California. AppTech utilizes innovative
payment processing and digital banking technologies to complement its core merchant services capabilities. The Company’s proprietary
software will provide progressive and adaptable products that will be available through a suite of synergistic offerings directly to merchants,
banking institutions, and business enterprises.

AppTech has a highly secure digital payments platform
that we acquired and are further developing digital banking products to power commerce experiences for clients and their customers. Based
upon industry standards for payment and banking protocols, we will offer standalone products and fully integrated solutions that deliver
innovative payments, banking, and financial services experiences. Our processing technologies can be taken off-the-shelf 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 was delisted to the middle tier of
the Over-The-Counter Venture Market (“OTCQB”) on May 20, 2025. AppTech trades under the symbol “APCX” and its
warrants trade under the symbol “APCXW”.

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 was a related party to AppTech.
A former senior member of the Company sits 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”). As consideration for the purchase, the Company agreed to pay the seller total consideration of $2 million in cash and
assume certain short-term and long-term liabilities of Alliance Partners. The primary reason for the Purchase was to acquire Alliance
Partners’ intellectual property, personnel, and software platform, which is now AppTech’s platform “FinZeo”.

The Company closed the