Company: APCXW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001683168-25-006148
Chunk: 47

Company: AppTech Payments Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part II, Item 8
Chunk 47
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35%.
The decrease was driven by lower professional fees, salaries, and stock based compensation.

Research and Development Expenses

Research and development expenses were approximately
$910 thousand for the three months ended June 30, 2025, compared to $633 thousand for the three months ended June 30, 2024, representing
an increase of $277 thousand. The increase was due to higher third-party development costs related to maintaining and enhancing the FinZeo
platform.

Research and development expenses were approximately
$1,690 thousand and $1,276 thousand for the six months ended June 30, 2025 and 2024, respectively. The increase was driven by higher
third-party costs related to maintaining and enhancing the platform.

Interest income (expense)

Interest income was approximately $26 thousand
for the three months ended June 30, 2025, compared to an expense of $32 thousand for the three months ended June 30, 2024, representing
an increase of $58 thousand. For the six months ended June 30, 2025 and 2024, interest expense decreased from $35 thousand to $7 thousand.
The change was due to the interest related to the assigned agreement with our banking partners.

Gain on debt extinguishment 

Gain on debt extinguishment was approximately
$13 thousand for the three months ended June 30, 2025, compared to $0 for the three months ended June 30, 2024, representing an increase
of $13 thousand. The increase was driven by reconciling journal entries and accrued expenses write-offs. The balance remained unchanged
as of June 30, 2025.

 22 

Other income (expenses)

Other
expense was $5 thousand for the three months ended June 30, 2025, compared to income of $1 thousand for the three months ended June 30,
2024. The decrease of $6 thousand was primarily driven by the interest expense related to the note assumption recorded in April 2025.
For the six months ended June 30, 2025 compared to June 30, 2024, other expense increased from $1 thousand to other income of $30 
thousand. The biggest driver was the credit balance with the state of Delaware.

Liquidity and Capital Resources

The Company routinely evaluates its immediate working
capital needs and liquidity sources. For the three months ended June 30, 2025 and June 30, 2024, the Company maintained its liquidity