AppTech Payments Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>AppTech Payments Corp. has filed its 2023 Form 10-K detailing its financial performance and business operations.</b>

AI Summary

AppTech Payments Corp. (APCXW) filed a Annual Report (10-K) with the SEC on April 1, 2024. AppTech Payments Corp. filed its annual report for the fiscal year ending December 31, 2023. The company's principal business address is located at 5876 Owens Avenue, Suite 100, Carlsbad, CA 92008. AppTech Payments Corp. was formerly known as AppTech Corp., Natural Nutrition Inc., and CSI Business Finance, Inc. The company's SIC code is 7372 (SERVICES-PREPACKAGED SOFTWARE). The filing includes financial data for the fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking AppTech Payments Corp., this filing contains several important signals. This 10-K filing provides a comprehensive overview of AppTech Payments Corp.'s financial health, operational activities, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. The detailed financial statements and risk factors within the report offer insights into the company's revenue streams, profitability, debt levels, and potential challenges, enabling stakeholders to make informed investment decisions.

Risk Assessment

Risk Level: medium — AppTech Payments Corp. shows moderate risk based on this filing. The company's financial statements and risk factors indicate potential challenges related to customer concentration and the need for ongoing capital, suggesting a medium level of risk.

Analyst Insight

Investors should review the detailed financial statements and risk factor disclosures in the 10-K to understand AppTech Payments Corp.'s revenue generation, profitability, and any potential headwinds.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-04-01 — Filing Date (Date of submission)
• 73 — Public Document Count (Number of documents in the filing)
• 760-707-5955 — Business Phone (Contact number)

Key Players & Entities

• AppTech Payments Corp. (company) — Filer name
• 2023-12-31 (date) — Fiscal year end
• 2024-04-01 (date) — Filing date
• Carlsbad, CA (location) — Business address city and state
• 760-707-5955 (phone) — Business phone number
• AppTech Corp. (company) — Former company name
• Natural Nutrition Inc. (company) — Former company name
• CSI Business Finance, Inc. (company) — Former company name

FAQ

Risk Factors

• Customer Concentration Risk [medium — financial]: The company's accounts receivable are subject to concentration risk from two customers, which could impact financial stability if these customers reduce their business.

Industry Context

AppTech Payments Corp. operates within the prepackaged software services industry, focusing on payment solutions.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material financial and operational information annually.

What Investors Should Do

1. Review the detailed financial statements for revenue, net income, and other key performance indicators.
2. Analyze the risk factors section, particularly customer concentration, for potential business impacts.
3. Examine any disclosures regarding debt, equity, and cash flow to understand the company's financial health.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-01: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the annual report (10-K) for the fiscal year ending December 31, 2023, providing a comprehensive update compared to previous filings.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share APCX Nasdaq Capit
• $4.15 — of common stock at an exercise price of $4.15 APCXW Nasdaq Capital Market Securit
• $128.51 — ash payments is 9.5% annually, reaching $128.51 trillion in value in 2021. 1 The paym
• $60 billion — arch estimates a revenue opportunity of $60 billion for digital payment ecosystems. 2 In
• $2.6 — mated to continue to grow to a value of $2.6 trillion with over 78 million users by

Filing Documents

• apptech_i10k-123123.htm (10-K) — 929KB
• apptech_ex2101.htm (EX-21.1) — 2KB
• apptech_ex2301.htm (EX-23.1) — 2KB
• apptech_ex3101.htm (EX-31.1) — 13KB
• apptech_ex3102.htm (EX-31.2) — 13KB
• apptech_ex3201.htm (EX-32.1) — 5KB
• apptech_ex3202.htm (EX-32.2) — 5KB
• apptech_ex97.htm (EX-97.0) — 20KB
• 0001683168-24-002017.txt (&nbsp;) — 5281KB
• apcx-20231231.xsd (EX-101.SCH) — 47KB
• apcx-20231231_cal.xml (EX-101.CAL) — 54KB
• apcx-20231231_def.xml (EX-101.DEF) — 221KB
• apcx-20231231_lab.xml (EX-101.LAB) — 385KB
• apcx-20231231_pre.xml (EX-101.PRE) — 334KB
• apptech_i10k-123123_htm.xml (XML) — 587KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 10 Item 1C. Cybersecurity 10 Item 2.

Properties

Properties 11 Item 3.

Legal Proceedings

Legal Proceedings 11 Item 4. Mine Safety Disclosures 12 Part II Item 5. Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 13 Item 6. [Reserved] 13 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 7A. Qualitative and Quantitative Disclosures about Market Risk 21 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 21 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 21 Item 9A.

Controls and Procedures

Controls and Procedures 22 Item 9B. Other Information 22 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 22 Part III Item 10. Directors, Executive Officers and Corporate Governance 23 Item 11.

Executive Compensation

Executive Compensation 23 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 23 Item 13. Certain Relationships and Related Transactions and Director Independence 24 Item 14. Principal Accountant Fees and Services 24 Part IV Item 15. Exhibits and Financial Statements Schedules 25 Item 16. Form 10-K Summary 25 Index to Financial Statements 26 Exhibit Index 53

Signatures

Signatures 57 2 PART I SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS AND PROJECTIONS Various statements in this report of AppTech Payments Corp. are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management are forward-looking statements. These statements are subject to risks and uncertainties and are based on information currently available to our management. Words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "contemplates," "predict," "project," "target," "likely," "potential," "continue," "ongoing," "will," "would," "should," "could," or the negative of these terms and similar expressions or words, identify forward-looking statements. The events and circumstances reflected in our forward-looking statements may not occur and actual results could differ materially from those projected in our forward-looking statements. You should not place undue reliance on forward looking statements. The cautionary statements set forth in this report identify important factors which you should consider in evaluating our forward-looking statements. These risks include, but are not limited to, the following: delays and uncertainty associated with the boarding of clients to our platform; substantial investment and costs associated with new potential revenue streams and their corresponding contractual obligations; a slowdown or reduction in our sales due to a reduction in end user demand, unanticipated competition, regulatory issues, or other unexpected circumstances; uncertainty regarding adverse macroeconomic conditions, including inflation, a recession, changes to fiscal and moneta

Business

Item 1. Business Business Overview The financial services industry is going through a period of intensive growth driven by the advancement of technology and the rapid rise of contactless transactions due to societal changes, in part, as a response to COVID-19. End-users expect ease of use and an enhanced user experience in all their daily financial interactions. In this rapidly evolving digital marketplace, businesses have broad and frequently changing requirements to meet consumer expectations and operational efficiencies to maintain their competitive edge. To flourish in this environment, businesses need to adopt new technologies to engage, communicate and process payments and manage payouts with their customers from a supplier that widely supports innovation and adaptation as the industry evolves. We believe our technologies will greatly increase the adoption of omni-channel payments and digital banking solutions in sectors that must quickly adapt and migrate to new, secure digital Fintech technologies. By embracing advancements in the payment and banking industries, we are well-positioned to meet the growing needs of existing and prospective clients and intend for our current and future products to be at the forefront of solving these accelerated market needs. AppTech's all-in-one Fintech platform, FinZeo, delivers best-in-class financial technologies and capabilities through an ever-evolving modular cloud/edge-based architecture. The FinZeo platform houses a large array of financial products and services that can be implemented off-the-shelf or customized via modern APIs. Within its FinZeo platform, AppTech offers Payments-as-a-Service ("PaaS"), Banking-as-a-Service ("BaaS"), and the Commerse Portal. FinZeo provides PaaS via integrated solutions for frictionless digital and mobile payment acceptance. These solutions provide advanced payment processing solutions by catering to the unique needs of each merchant. FinZeo's PaaS solutions include ACH (automat

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View this 10-K filing on SEC EDGAR