Company: APCXW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002130
Chunk: 242

Company: AppTech Payments Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 242
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Corporate headquarters is located at 5876 Owens Avenue,
Suite 100, Carlsbad, CA 92008, consisting of approximately 3,000 square feet of leased office space. As of December 31, 2024, the Company
also leases office space in Austin, Texas. The Company does not own any real property.

Item 3. Legal Proceedings

NCR
Litigation

On
November 30, 2022, AppTech filed a complaint against NCR Payment Solutions, LLC in the United States District Court for the Southern District
of California alleging Breach of Contract, Breach of Implied Covenant of Good Faith and Fair Dealing, Specific Performance and Accounting.
On March 11, 2024, both parties agreed to dismiss the lawsuit. There was no impact to the Company’s financial statements.

Infinios Financial Services
Litigation

On October 1, 2020, the Company entered into
a strategic partnership with NEC PAYMENTS B.S.C., which subsequently became Infinios Financial Services B.S.C. (“Infinios”).

On May 4, 2023, the Company notified Infinios
of its intent to terminate its relationship and commenced a good-faith negotiation with Infinios.

In October 2023, the Company and Infinios
entered arbitration.

As of December 31, 2024, the parties settled
the lawsuit under a confidential Settlement Confirmation letter whereby the terms of the Settlement Agreement and Mutual Release were
fulfilled. Under the settlement, no payments were exchanged between the parties, and both the anti-dilution liability and the payable
owed to Infinios of $72 thousand and $249 thousand, respectively, were fully extinguished. The matter is closed.

Litigation with Former Employees

On May 3, 2024, the Company was sued by three former employees over
severance payments. On February 14, 2025, the Company filed a cross complaint against the Plaintiffs for breach of fiduciary duty and
breach of contract. In March 2025, the Company settled its lawsuit for $172 thousand. The settlement amount was accrued for at December
31, 2024.

Item 4. Mine Safety Disclosures

Not applicable.

 10 

PART II

Item 5. Market for Registrant’s Common
Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities

Our common stock has been registered with the SEC
since