AppTech Payments Faces Delisting Concerns

TL;DR

AppTech Payments might get kicked off the OTCQB. Big trouble.

AI Summary

AppTech Payments Corp. filed an 8-K on November 25, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule. The company's common stock is currently trading on the OTCQB Venture Market, and this filing indicates potential issues with its continued listing on that market.

Why It Matters

This filing signals potential instability for AppTech Payments Corp.'s stock, which could impact investors and its ability to access capital markets.

Risk Assessment

Risk Level: high — A notice of delisting directly threatens the company's public trading status and investor confidence.

Key Players & Entities

• AppTech Payments Corp. (company) — Registrant
• November 22, 2024 (date) — Earliest event reported
• November 25, 2024 (date) — Filing date
• OTCQB Venture Market (company) — Market where stock trades

FAQ

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
• $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) — 36KB
• 0001683168-24-008382.txt ( ) — 256KB
• apcx-20241122.xsd (EX-101.SCH) — 4KB
• apcx-20241122_def.xml (EX-101.DEF) — 29KB
• apcx-20241122_lab.xml (EX-101.LAB) — 36KB
• apcx-20241122_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"). 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 delisting determination letter 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. On November 12, 2024, the Company timely requested a hearing before the Panel to appeal the delisting determination by the Staff. On November 22, 2024, the Company received a formal notice from Nasdaq that the Panel will consider its appeal at an oral hearing on January 14, 2025 (the "Hearing"). Accordingly, the delisting determination referenced in the Staff's delisting determination letter dated November 6, 2024, has been stayed, pending a final written decision by the Panel.

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 25, 2024 By: /s/ Luke D'Angelo Luke D'Angelo Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR