AppTech Payments Corp. Files Q3 2024 10-Q

TL;DR

**AppTech Payments Corp. Q3 2024 10-Q filed. Financials updated.**

AI Summary

AppTech Payments Corp. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the third quarter and the first nine months of 2024. Specific financial figures and operational details are contained within the filing, which provides an update on the company's performance and financial position.

Why It Matters

This filing provides investors with a crucial update on AppTech Payments Corp.'s financial health and operational performance for the third quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — As a publicly traded company filing a 10-Q, there are inherent risks associated with financial performance and market conditions.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 2024-11-14 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• AppTech Payments Corp. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of reporting period
• 2024-11-14 (date) — Filing date
• Carlsbad, CA (location) — Company's business address

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share APCX Nasdaq Cap
• $4.15 — of common stock at an exercise price of $4.15 APCXW Nasdaq Capital Market Secur
• $18.0 million — ng an aggregate offering price of up to $18.0 million through "at-the-market" (ATM) offerings
• $250,000 — may exceed federally insured limits of $250,000 per institution that pays Federal Depos

Filing Documents

• apptech_i10q-093024.htm (10-Q) — 827KB
• apptech_ex3101.htm (EX-31.1) — 14KB
• apptech_ex3102.htm (EX-31.2) — 13KB
• apptech_ex3201.htm (EX-32.1) — 4KB
• apptech_ex3202.htm (EX-32.2) — 4KB
• 0001683168-24-008000.txt ( ) — 4819KB
• apcx-20240930.xsd (EX-101.SCH) — 39KB
• apcx-20240930_cal.xml (EX-101.CAL) — 46KB
• apcx-20240930_def.xml (EX-101.DEF) — 220KB
• apcx-20240930_lab.xml (EX-101.LAB) — 355KB
• apcx-20240930_pre.xml (EX-101.PRE) — 309KB
• apptech_i10q-093024_htm.xml (XML) — 522KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 34 Part II Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 3. Defaults Upon Senior Securities 36 Item 4. Mine Safety Disclosures 36 Item 5. Other Information 36 Item 6. Exhibits 37

Signatures

Signatures 40 2 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS AND PROJECTIONS Various statements in this Quarterly on Form 10-Q of AppTech Payments Corp. (we, our, AppTech or the Company) are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this report 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. Meaningful factors that could cause actual results to differ include: delays and uncertainty associated with the boarding of clients onto 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 monetary policy, tighter credit, higher interest rates, consumer confidence and spending, and high unemployment; dependence on third-parties needed to facilitate our aut

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements APPTECH PAYMENTS CORP. CONSOLIDATED FINANCIAL STATEMENTS INDEX TO UNAUDITED FINANCIAL STATEMENTS (The financial statements have been condensed for presentation purposes) Pages Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 5 Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 6 Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 7 Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 8 Notes to the Consolidated Financial Statements 9 4 APPTECH PAYMENTS CORP. CONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30, 2024 AND DECEMBER 31, 2023 (UNAUDITED) (in thousands, except shares and per share data) September 30, 2024 December 31, 2023 ASSETS Current assets Cash and cash equivalents $ 104 $ 1,281 Accounts receivable 12 30 Prepaid expenses 196 205 Total current assets 312 1,516 Note receivable – 26 Right of use asset 29 66 Security deposit 19 9 Intangible assets, net of accumulated amortization 3,664 4,428 Goodwill 1,161 1,161 Capitalized software development, net of accumulated amortization 1,429 1,147 TOTAL ASSETS $ 6,614 $ 8,353 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 2,484 $ 1,680 Accounts payable - related party 102 119 Accrued liabilities 1,691 1,958 Convertible note payable and accrued interest, net of discount of $ 428 and $ 0 , respectively 687 – Notes payable 1 1 Deferred revenue 150 244 Right of use liability 38 78 Total current liabilities 5,153 4,080 Long-term liabilities Right of use liability, net of current portion – 14 Notes payable, net of current portion 62 65 Total long-term liabilities 62 79 TOTAL LIABILITIES 5,215 4,159 Commitments and contingencies (Note 7) – Stockholders

View Full Filing

View this 10-Q filing on SEC EDGAR