Company: APCXW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002130
Chunk: 989

Company: AppTech Payments Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 13
Chunk 989
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     102  
     185 
  
    Total accrued liabilities 
    $1,519  
    $1,958 

In connection with the original purchase of Alliance
Partners, $1,200 thousand and $1,500 thousand remained outstanding as of December 31, 2024 and 2023, respectively. The payable amount
is secured by substantially all the Company's assets.

Anti-dilution provision

During
2024, the Company and Infinios entered into a settlement agreement
during the arbitration process with no financial obligation by either party. The anti-dilution provision of $72 thousand was extinguished
as a result of the settlement. See Note 8.

NOTE 6 – 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 December 31, 2024 and 2023, the balance
of the note payable was $61 thousand and $66 thousand, respectively.

On June 10, 2024, the Company entered into a 60-day
unsecured note agreement with Black Ice Advisors, LLC, a third-party lender, for proceeds of $200 thousand and flat interest of $30 thousand.
Additionally, the Company issued 30,000 shares of AppTech Common Stock to the lender on June 17, 2024. On August 12, 2024, the outstanding
balance of the note payable and accrued interest of $230 thousand, was repaid.

     37 

Convertible
Note

On July 10, 2024, the Company closed a private placement
offering consisting of a 6% convertible debenture (the “Debenture”) with a principal amount of $1,100,000 and a warrant (the
“Warrant”) to purchase up to 750,000 shares of the Company’s common stock. The Debenture was sold to Peak One Investments
(the “Purchaser”) for $1,000,000, reflecting a 10% original issue discount, under a Securities Purchase Agreement executed
on the same date. The Warrant, expiring five years from issuance, allows the holder to purchase up to 750,000 shares of common stock at