AppTech Payments Corp. Granted Extension for Continued Listing on Nasdaq

Rhea-AI Summary

AppTech Payments Corp. (NASDAQ: APCX) has received an extension from the Nasdaq Hearings Panel to maintain its listing on The Nasdaq Stock Market. The company must meet specific conditions, including filing a public disclosure by March 31, 2025, demonstrating that its shareholders' equity deficiency has been resolved. This information will be detailed in the company's 2023 10-K filing, expected by March 15, 2025.

Additionally, AppTech has until May 5, 2025, to meet Nasdaq's $1 minimum bid price per share requirement. The Panel approved the company's request to increase its stock price organically, partly based on their compliance with the Equity Rule. CEO Thomas DeRosa expressed confidence in the company's strengthened position following recent restructuring efforts, stating they are poised to generate significant revenue across multiple verticals.

Positive

• Company remains listed on Nasdaq with extension granted
• Already in compliance with Equity Rule requirements
• Recent restructuring has strengthened financial position

Negative

• Must cure shareholders' equity deficiency by March 31, 2025
• Stock trading below $1 minimum bid price requirement
• Deadline to meet $1 minimum bid price by May 5, 2025 or face potential delisting

CARLSBAD, Calif., Feb. 18, 2025 (GLOBE NEWSWIRE) -- AppTech Payments Corp. (“AppTech or the “Company”) (NASDAQ: APCX) a pioneering Fintech company powering frictionless commerce, today announced that it received notice from the Nasdaq Hearings Advisor (the “Hearings Panel”) of The Nasdaq Stock Market LLC (“Nasdaq”) that the Hearings Panel has granted the Company’s request to continue its listing on The Nasdaq Stock Market, subject to the Company meeting certain conditions, including filing on or before March 31, 2025, a public disclosure describing that the shareholders’ equity deficiency has been cured and the Company plans on including the detailed requested information in its 2023 10-K filing anticipated to be filed on or before March 15, 2025. The Company was also given until May 5, 2025, to regain compliance with Nasdaq’s $1 minimum bid price per share requirement. The Panel granted our request to attempt to increase the bid price of our stock organically, based in part on our declaration that we were already in compliance with the Equity Rule.

AppTech's CEO, Thomas DeRosa, extended gratitude to the Nasdaq Staff and the Nasdaq Hearings Panel for their continued support in maintaining the Company's listing. Our team remains fully committed to meeting all Nasdaq Continued Listing Requirements, including the $1 minimum bid requirement, by May 5, 2025. The recent restructuring and efforts to streamline the company's finances have positioned AppTech stronger than ever before. We are now on the verge of generating significant revenue across multiple verticals and are dedicated to driving growth and enhancing shareholder value.

Additional information was provided in the Company's Form 8-K, which was filed earlier today with the Securities and Exchange Commission.
Click the following link to view today’s 8-K: February 14, 2025 - Form 8-K

About AppTech Payments Corp.

AppTech Payments Corp. (NASDAQ: APCX) provides digital financial services for financial institutions, corporations, small and midsized enterprises (“SMEs”), and consumers through the Company’s scalable cloud-based platform architecture and infrastructure, coupled with our Specialty Payments development and delivery model. AppTech maintains exclusive licensing and partnership agreements in addition to a full suite of patented technology capabilities. For more information, please visit apptechcorp.com.

Forward-Looking Statements

This press release may contain 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, will” and similar expressions as they relate to AppTech are intended to identify such forward-looking statements. 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.

AppTech Payments Corp.
760-707-5959
info@apptechcorp.com

FAQ

What is the deadline for APCX to meet Nasdaq's $1 minimum bid price requirement?

AppTech Payments Corp. (APCX) has until May 5, 2025, to meet Nasdaq's $1 minimum bid price per share requirement.

When must APCX file its disclosure about shareholders' equity deficiency?

APCX must file a public disclosure by March 31, 2025, demonstrating that the shareholders' equity deficiency has been resolved.

What conditions did Nasdaq set for APCX to maintain its listing?

Nasdaq requires APCX to file a disclosure about curing shareholders' equity deficiency by March 31, 2025, and meet the $1 minimum bid price requirement by May 5, 2025.

How does APCX plan to meet the $1 minimum bid price requirement?

APCX plans to increase its stock price organically, a strategy that has been approved by the Nasdaq Hearings Panel.