AppTech Payments Corp. Elects New Directors
Ticker: APCXW · Form: 8-K · Filed: Dec 30, 2024 · CIK: 1070050
| Field | Detail |
|---|---|
| Company | Apptech Payments Corp. (APCXW) |
| Form Type | 8-K |
| Filed Date | Dec 30, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $4.15 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-composition, executive-compensation, corporate-governance
Related Tickers: APCX
TL;DR
AppTech adds two directors to the board, details on exec pay still vague.
AI Summary
AppTech Payments Corp. announced on December 24, 2024, the election of two new directors, Robert L. Johnson and David L. Johnson, to its Board of Directors. The company also disclosed compensatory arrangements for certain officers, though specific details and dollar amounts were not provided in this filing. This move aims to strengthen the board's expertise as the company continues its operations.
Why It Matters
The addition of new directors can signal a shift in strategy or governance, potentially impacting the company's future direction and shareholder value.
Risk Assessment
Risk Level: medium — Changes in board composition and undisclosed compensatory arrangements can introduce uncertainty regarding future strategy and financial performance.
Key Players & Entities
- AppTech Payments Corp. (company) — Reporting company
- Robert L. Johnson (person) — Newly elected director
- David L. Johnson (person) — Newly elected director
- December 24, 2024 (date) — Date of earliest event reported
FAQ
Who are the newly elected directors to AppTech Payments Corp.'s Board?
Robert L. Johnson and David L. Johnson were elected as new directors to the Board of AppTech Payments Corp.
What is the date of the earliest event reported in this 8-K filing?
The earliest event reported in this filing is dated December 24, 2024.
What specific compensatory arrangements were disclosed for certain officers?
The filing mentions compensatory arrangements for certain officers but does not provide specific details or dollar amounts in this section.
What is the SIC code for AppTech Payments Corp.?
The Standard Industrial Classification (SIC) code for AppTech Payments Corp. is 7372, which falls under SERVICES-PREPACKAGED SOFTWARE.
What were AppTech Payments Corp.'s former names?
AppTech Payments Corp. was formerly known as AppTech Corp., Natural Nutrition Inc., and CSI Business Finance, Inc.
Filing Stats: 965 words · 4 min read · ~3 pages · Grade level 12.9 · Accepted 2024-12-30 07:30:08
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
Filing Documents
- apptech_8k.htm (8-K) — 39KB
- 0001683168-24-009028.txt ( ) — 260KB
- apcx-20241224.xsd (EX-101.SCH) — 4KB
- apcx-20241224_def.xml (EX-101.DEF) — 29KB
- apcx-20241224_lab.xml (EX-101.LAB) — 36KB
- apcx-20241224_pre.xml (EX-101.PRE) — 27KB
- apptech_8k_htm.xml (XML) — 6KB
02 Departure
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers. On December 24, 2024, AppTech Payments Corp. (the "Company") issued a press release announcing the departure of Luke D'Angelo as Chief Executive Officer and Executive Director of the Company and the appointment of Thomas DeRosa to serve as Interim Chief Executive Officer of the Company until the Board appoints a replacement. Additionally announced was the departure of Meilin Yu "Julia Yu" as Chief Financial Officer and Treasurer of the Company and the appointment of Felipe A. Corrado to serve as Chief Financial Officer and Treasurer of the Company. A copy of the press release is filed as Exhibit 99.1 hereto and incorporated herein by reference. Resignation - Chief Executive Officer On December 24, 2024, Luke D'Angelo resigned as Chief Executive Officer and Executive Director of AppTech Payments Corp. (the "Company"). The resignation of Mr. D'Angelo was not due to a disagreement with the Company on any matter relating to the Company's operations, policies, or practices. Mr. D'Angelo will continue his employment as Chairman of the Company's Board of Directors. Termination of Employment - Chief Financial Officer and Treasurer On December 24, 2024, Meilin Yu's "Julia Yu" employment with and service as Chief Financial Officer and Treasurer of AppTech Payments Corp. (the "Company") was terminated without cause . The termination of Ms. Yu was not due to a disagreement with the Company on any matter relating to the Company's operations, policies, or practices. Appointment of Interim Chief Executive Officer On December 24, 2024, the Company's Board of Directors appointed Thomas DeRosa to serve as Interim Chief Executive Officer of the Company. In this capacity, he will serve as the Company's Chief Executive Officer until, when, and if the Board appoints a replacement. Thomas DeRosa, age 61, has served
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: December 30, 2024 By: /s/ Thomas DeRosa Thomas DeRosa Chief Executive Officer 3