AppTech Payments Corp. - APCX STOCK NEWS

AppTech Payments Corp. (NASDAQ: APCX) has announced a new partnership aimed at enabling cross-border transaction processing in Canada across various retail sectors, including ecommerce, hospitality, and automotive. This collaboration enhances AppTech's payment capabilities, integrating advanced processing solutions, omnichannel functions, and multiple pricing strategies. Additionally, it builds on AppTech's recent acquisition of Hothand Inc., which brings a patent portfolio for geofence-triggered ecommerce. The initiative underscores the company's commitment to transforming customer commerce experiences.

AppTech Payments Corp. (NASDAQ: APCX) has successfully completed the acquisition of Hothand Inc., a patent holding company, enhancing its capabilities in geofence-triggered e-commerce and advertising. The acquisition involves a mix of cash and stock tied to revenue milestones, granting AppTech access to 12 patents related to location-based services via mobile technology. CEO Luke D'Angelo highlights this as a strategic move to strengthen their Fintech offerings and create competitive barriers. The deal is expected to bolster AppTech’s market position and facilitate future licensing opportunities.

AppTech Payments Corp. (NASDAQ: APCX) reported first-quarter 2022 revenue of approximately $104,000, marking a 3% year-over-year increase due to higher processing revenue. As of March 31, 2022, the company had a cash balance of $10.3 million, bolstered by a $13.4 million public offering completed in January 2022. The company executed a definitive agreement to acquire Hothand Inc., increasing its patent portfolio to 16. Recent developments include the onboarding of a new sales director and strategic hires aimed at launching their fintech platform.

AppTech Payments Corp. (NASDAQ: APCX) appointed Julia Yu as Senior Vice President of Corporate Finance and Accounting on April 20, 2022. With over 20 years of experience in finance and accounting, Yu will oversee all financial functions as AppTech seeks global expansion. Previously a Director of Finance at Caladrius Bioscience, Yu holds multiple finance certifications and MBAs. CEO Luke D'Angelo highlights her leadership as essential for the company's growth and strategic goals, particularly in launching their payments platform and pursuing acquisitions.

AppTech Payments Corp. (NASDAQ: APCX) has announced its definitive agreement to acquire Hothand Inc., a patent holding company with a portfolio of twelve patents related to mobile credit/debit transactions and promotional services. This strategic acquisition aims to enhance AppTech's fintech capabilities by integrating Hothand's patented technology, which allows for product and service requests within specific geolocations and times. The purchase will be executed through a mix of cash and stock, reinforcing AppTech's position in the fintech industry.

AppTech Payments Corp. (NASDAQ: APCX) reported Q4 and FY 2021 results on March 31, 2022. Q4 revenues increased by 3.0% to $95,136, driven by larger processing volumes. For FY 2021, revenues totaled $353,824, marking a 7% increase from FY 2020. The cash balance as of December 31, 2021, was $8,026, bolstered by a public offering on January 7, 2022, netting $13.4 million. Management highlighted the onboarding of a new development team and successful NASDAQ uplisting as significant strides toward expanding their fintech platform.

AppTech Payments Corp. (NASDAQ: APCX) announced the appointment of Howard Fish as the new Director of Sales and Business Development. With over 30 years in financial services and integrated payments, Mr. Fish aims to lead AppTech’s sales organization and global business development in both mature and emerging markets. His previous experience includes leadership roles at various financial technology companies, enhancing his fit for AppTech’s growth strategy. The company is focused on developing a secure digital payments platform that offers innovative solutions to merchants and financial institutions.

AppTech Payments Corp. (NASDAQ: APCX) announced the filing of its proxy statement for its Annual Shareholder Meeting, scheduled for May 3, 2022, at 10:00 AM PST. To accommodate all shareholders, the meeting will be held exclusively online. Shareholders as of the March 15, 2022 record date are eligible to attend. Detailed access instructions and proxy materials have been sent via direct mail. AppTech focuses on innovative payment processing and digital banking technologies, offering a range of services to merchants and financial institutions.

AppTech Payments Corp. (NASDAQ: APCX) announced the termination of its partnership with Silver Alert Services, effective Feb. 17, 2022, by mutual agreement. This decision arose from delays in the release of LifeLight's remote patient monitoring system due to COVID-related market impacts. The termination allows AppTech to concentrate on launching its patented digital banking platform, aimed at enhancing commerce experiences. AppTech expresses gratitude towards LifeLight for their collaboration and anticipates continued working relations with Silver Alert on future projects.