Company: APCXW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002130
Chunk: 435

Company: AppTech Payments Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 435
---
 when
there is evidence that events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable.
Recoverability of assets to be held and used is measured by comparing the carrying amount of an asset or asset group to estimated undiscounted
future cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset or asset group exceeds its
estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset or asset group
exceeds the estimated fair value of the asset or asset group. Long-lived assets to be disposed of by sale are reported at the lower of
their carrying amounts or their estimated fair values less costs to sell and are not depreciated. During the years ended December 31,
2024 and 2023, there was $0 and $6,131 thousand asset impairment, respectively.

     33 

Leases

The
Company recognizes right -of-use assets and lease liabilities
at the commencement date of the lease based on the present value of remaining fixed and determinable lease payments over the lease
term. The Company calculates the present value of future payments by using an estimated incremental borrowing rate, which
approximates the rate at which the Company would borrow on a secured basis and over a similar term, and recognizes lease expense for
operating leases on a straight-line basis over the lease term. Right-of-use assets represent the Company’s right to control
the use of an identified asset for the lease term and lease liabilities represent the Company’s obligation to make lease
payments arising from the lease. The Company uses the incremental borrowing rate on the commencement date in determining the present
value of the lease payments.

The Company has lease agreements which include lease
and non-lease components, which the Company has elected to account for as a single lease component for all classes of underlying assets.
Lease expense for variable lease components are recognized when the obligation is probable.

The lease term for all of the Company’s leases
includes the non-cancellable period of the lease plus any additional periods covered by either a Company option to extend (or not to terminate)
the lease that the Company is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the
lessor. Options for lease renewals have been excluded from the lease term (and lease liability) for the majority of the Company’s
leases as the reasonably certain threshold is not met.

Lease payments included