Company: APCXW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001683168-25-006148
Chunk: 12

Company: AppTech Payments Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 12
---
1,147 
  
    Additions 
     –  
     1,081 
  
    Impairment 
     –  
     – 
  
    Amortization expenses 
     (251) 
     (405)
  
    Ending balance 
    $1,572  
    $1,823 

Goodwill

On October 26, 2023, the Company completed the Purchase
of Alliance Partners. The difference between the fair value of the purchase price and the net assets acquired is recorded as goodwill.
As of June 30, 2025, the Company recorded goodwill of approximately $1,161 thousand.

See Note 1 - Purchase of Alliance Partners, LLC.

     14 

NOTE 4 – ACCRUED LIABILITIES 

Accrued liabilities as of June 30, 2025 and December 31,
2024 are as follows:

    Schedule of accrued liabilities 

    June 30, 2025  
    December 31, 2024 
  
    Payables due to seller for acquisition 
    $1,200  
    $1,200 
  
    Accrued payroll 
     83  
     202 
  
    Accrued residuals 
     –  
     15 
  
    Other 
     82  
     102 
  
    Total accrued liabilities 
    $1,365  
    $1,519 

In connection with the original Purchase of Alliance
Partners, $1,200 thousand remained outstanding as of June 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. The note payable incurred a $100 fee upon issuance and
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 June 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