AppTech Corp. Welcomes New Board Members

Rhea-AI Summary

On April 30, 2021, AppTech Corp. (OTC: APCX) announced the retirement of board member Michael Gross, appointing Michael Yadgar as his replacement. Yadgar, a corporate lawyer with over 20 years of experience, is expected to enhance AppTech's strategic direction during its expansion phase. Andrew Sims will also join the board as an observer, bringing insights from his role as CEO of nDigital Holdings. The company is engaged in a strategic partnership with NEC Payments to deliver innovative fintech solutions, indicating robust growth potential.

Positive

• Appointment of Michael Yadgar, enhancing board expertise with his 20 years in corporate strategy.
• Strategic partnership with NEC Payments to improve fintech offerings and operational efficiencies.

Negative

• Retirement of long-time board member may raise continuity concerns.

CARLSBAD, Calif., April 30, 2021 (GLOBE NEWSWIRE) -- AppTech Corp. (“AppTech”) (OTC: APCX) a fintech company, announced today the retirement of Michael Gross and appointment of Michael Yadgar to the Company’s Board of Directors. Mr. Yadgar is a corporate lawyer and strategic advisor. He currently serves as a member of the Board of Directors of nDigital Holdings SPC, a holding company for operational fintech assets; nDigital Ventures, a holding company for fintech investments and joint ventures; NEC Payments B.S.C. (“NECP”); and Apiso W.L.L. (“Apiso”).

Virgil Llapitan, AppTech President & COO, stated, “With more than 20 years of experience counseling and directing clients on general corporate, acquisition, divestment, strategy, and investment matters, Michael will play a pivotal role on our Board during this time of expansion and acceleration. We are very fortunate Michael accepted the invitation given his in-depth, well-rounded expertise across our industry and we welcome him aboard.”

In addition to Mr. Yadgar, Andrew Sims will also join AppTech’s Board as an observer. Mr. Sims is a co-founder, board member and the Chief Executive Officer of nDigital Holdings SPC and its subsidiaries including NECP and Apiso. NECP is a licensed and regulated digital banking and payment technology company that provides innovative Banking-as-a-Service and digital financial services technologies to power high-performance, flexible, and secure digital banking and payments products. NECP recently received the accolade of “Best Digital Banking Technology Innovator” in the Middle East 2021.

As previously announced, AppTech and NECP have entered into a strategic partnership to deliver a FinTech ecosystem that incorporates embedded payments, banking and financial services capabilities to power digital commerce experiences for clients. In addition, AppTech offers these forward-thinking financial institutions, technology companies and SMBs operational efficiencies such as automated financial controls and reconciliation to reduce or eliminate manual administration.

Luke D’Angelo, AppTech Chairman & CEO commented, “Though we will greatly miss our long-time board member, Mickey Gross, we are happy to have Michael and Andrew join us. This is an exciting time for AppTech!”

About AppTech (OTC: APCX)
AppTech Corp. is a financial technology company utilizing innovative payment processing and digital banking technologies to complement our core merchant services capabilities. Our patented and proprietary software will provide progressive and adaptable products that are available through a suite of synergistic offerings directly to merchants, banking institutions and business enterprises. For more information about our company, please visit: www.apptechcorp.com.

Forward Looking Statements
This press release contains forward-looking statements that are inherently subject to risks and uncertainties. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, “expect”, “forecast”, “intend”, “may”, “plan”, “project”, “predict”, “should” and “‘will” and similar expressions as they relate to AppTech are intended to identify such forward-looking statements. These forward-looking statements involve risks and uncertainties concerning the Company. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in methods of marketing, delays in manufacturing or distribution, changes in customer order patterns, changes in customer offering mix, and various other factors beyond the company’s control. Actual events or results may differ materially from those described in this press release due to any of these factors. AppTech is under no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Contacts:
AppTech Corp. Investor Relations
ir@apptechcorp.com
(760) 707-5955

James S. Painter III
Emerging Markets Consulting, LLC
jamespainter@emergingmarketsllc.com
(321) 206-6682

FAQ

What is the significance of Michael Yadgar's appointment to AppTech's Board?

Michael Yadgar's appointment is significant due to his extensive experience in corporate law and strategy, which is expected to positively influence AppTech's growth during its expansion phase.

Who is joining AppTech's Board alongside Michael Yadgar?

Andrew Sims will join AppTech's Board as an observer; he is the CEO of nDigital Holdings SPC, providing valuable insights into fintech innovations.

What partnership has AppTech recently formed?

AppTech has formed a strategic partnership with NEC Payments to create a fintech ecosystem that offers advanced digital banking and payment services.

What impact might the retirement of Michael Gross have on AppTech?

The retirement of Michael Gross may affect continuity within the board, potentially leading to challenges in strategic alignment during the transition period.