AppTech Payments Corp. Faces Delisting Concerns
Ticker: APCXW · Form: 8-K · Filed: Nov 12, 2024 · CIK: 1070050
| Field | Detail |
|---|---|
| Company | Apptech Payments Corp. (APCXW) |
| Form Type | 8-K |
| Filed Date | Nov 12, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $4.15, $1.00, $1, $2,500,000 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: APCX
TL;DR
AppTech Payments Corp. might get delisted - big trouble for APCX holders.
AI Summary
AppTech Payments Corp. filed an 8-K on November 12, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The filing indicates a potential transfer of listing, with the earliest event reported as November 6, 2024.
Why It Matters
This filing signals potential issues with AppTech Payments Corp.'s continued listing on an exchange, which could impact its stock liquidity and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards indicates significant financial or operational distress for the company.
Key Players & Entities
- AppTech Payments Corp. (company) — Registrant
- November 6, 2024 (date) — Earliest event reported
- November 12, 2024 (date) — Filing date
FAQ
What specific listing rule or standard has AppTech Payments Corp. failed to satisfy?
The filing does not specify the exact rule or standard that AppTech Payments Corp. has failed to satisfy, only that it is a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard'.
What is the nature of the 'Transfer of Listing' mentioned in the filing?
The filing mentions a 'Transfer of Listing' as part of the item information, but does not provide details on the destination exchange or the process involved.
When was the earliest event reported that led to this 8-K filing?
The earliest event reported in this filing was on November 6, 2024.
What is the company's primary business as indicated by its SIC code?
AppTech Payments Corp. is classified under SIC code 7372, which corresponds to SERVICES-PREPACKAGED SOFTWARE.
Has AppTech Payments Corp. had previous name changes?
Yes, the company was formerly known as AppTech Corp. (name change on 20110812), Natural Nutrition Inc. (name change on 20061101), and CSI Business Finance, Inc. (name change on 20050929).
Filing Stats: 801 words · 3 min read · ~3 pages · Grade level 14.6 · Accepted 2024-11-12 17:15:09
Key Financial Figures
- $0.001 — ch Registered Common stock, par value $0.001 per share APCX Nasdaq Capital Mark
- $4.15 — of common stock at an exercise price of $4.15 APCXW Nasdaq Capital Market Indi
- $1.00 — common stock has been below the minimum $1.00 per share required for continued listin
- $1 — Company's common stock must be at least $1 per share for a minimum of 10 consecuti
- $2,500,000 — es the Company to maintain a minimum of $2,500,000 in stockholders' equity for continued l
Filing Documents
- apptech_8k.htm (8-K) — 35KB
- 0001683168-24-007911.txt ( ) — 256KB
- apcx-20241106.xsd (EX-101.SCH) — 4KB
- apcx-20241106_def.xml (EX-101.DEF) — 29KB
- apcx-20241106_lab.xml (EX-101.LAB) — 36KB
- apcx-20241106_pre.xml (EX-101.PRE) — 27KB
- apptech_8k_htm.xml (XML) — 6KB
01 Notice of Delisting or Failure to Satisfy a Continued
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard. As previously disclosed, AppTech Payments Corp. (the "Company" or "our") received a notice dated May 9, 2024, from the Nasdaq Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the last thirty (30) consecutive business days, the closing bid price for the Company's common stock has been below the minimum $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), Nasdaq granted the Company one hundred and eighty (180) calendar days, or until November 5, 2024, to regain compliance with the Minimum Bid Price Requirement. In order to regain compliance, the closing bid price of the Company's common stock must be at least $1 per share for a minimum of 10 consecutive business days during this 180-day period. In addition, the Company received another notice dated August 21, 2024 from the Staff, notifying that the Company is not in compliance with Nasdaq Listing Rule 5550(b)(1), which requires the Company to maintain a minimum of $2,500,000 in stockholders' equity for continued listing (the "Minimum Stockholders' Equity Requirement"). On November 6, 2024, the Company received a notice from the Staff indicating that the Company has not regained compliance with the Minimum Bid Price Requirement and, accordingly, its securities are subject to delisting from Nasdaq unless the Company timely requests an appeal of its determination before the Nasdaq Hearings Panel (the "Panel") by November 13, 2024. The Staff also requested the Company to address the concern of the compliance with the Minimum Stockholders' Equity Requirement if it appeals the Staff's determination. If the Company does not appeal the Staff's delisting determination by November 13, 2024, trading of the Company's
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. APPTECH PAYMENTS CORP. Date: November 12, 2024 By: /s/ Luke D'Angelo Luke D'Angelo Chief Executive Officer 3