AppTech Payments Regains Compliance with Nasdaq Stockholders’ Equity Requirement

AppTech Payments Corp. (NASDAQ: APCXW) recently announced in a Form 8-K filing that the company has successfully regained compliance with the Nasdaq Stockholders’ Equity Requirement. The requirement stipulates that the company must maintain a minimum of $2,500,000 in stockholders’ equity for continued listing on the Nasdaq exchange.

The compliance setback was initially identified when the company received a notice from the Nasdaq Listing Qualifications Department, notifying them that they were not in compliance with Nasdaq Listing Rule 5550(b)(1). To address this issue, AppTech Payments entered into strategic agreements to improve its financial position.

On December 16, 2024, AppTech Payments inked a share purchase agreement with AFIOS Partners 6 for the sale of shares and warrants, followed by another agreement with AFIOS Partners 7 for further funding. These agreements facilitated a capital raising transaction that resulted in significant investments from the partners. As a part of this transaction, the company also settled outstanding payables and recognized gains on early debt extinguishment, further enhancing its financial standing.

The successful capital raising transaction and debt restructuring brought the company’s stockholders’ equity balance to $4,146,448 as of December 31, 2024. With this significant improvement in its financial position, AppTech Payments believes it has regained compliance with the Nasdaq Stockholders’ Equity Requirement.

Despite this positive development, Nasdaq will continue to monitor the company’s compliance with the requirement closely. AppTech Payments aims to ensure sustained compliance to avoid any potential delisting in the future.

The company remains proactive about maintaining financial health and regulatory compliance, underscoring its commitment to meeting exchange standards and investor expectations.

This article is based on a recent Form 8-K filing by AppTech Payments Corp. with the Securities and Exchange Commission. Investors and stakeholders are encouraged to stay informed about further developments regarding the company’s financial status and regulatory compliance.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read AppTech Payments’s 8K filing here.

AppTech Payments Company Profile

AppTech Payments Corp., a financial technology company, provides electronic payment processing technologies and merchant services in the United States. Its merchant transaction services offer processing payments for credit and debit cards through point-of-sale equipment, e-commerce gateways, periodic automatic clearing house payments, and gift and loyalty programs.