$APCXW

AppTech Payments Corp.

CIK:0001070050|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 1,657	$ 291	$ 3,114	$ 508
Cost of revenues	772	107	1,419	235
Gross profit	885	184	1,695	273
Operating expenses:
Selling, general and administrative, including stock-based compensation of $14 and $33 for the three months ended June 30, 2026 and 2025, respectively, $1,726 and $869 for the six months ended June 30, 2026 and 2025, respectively	1,441	1,155	4,727	3,120
Research and development	332	910	707	1,690
Total operating expenses	1,773	2,065	5,434	4,810
Loss from operations	(888)	(1,881)	(3,739)	(4,537)
Other income (expenses)
Interest income (expense)	(209)	26	(405)	(7)
Gain on debt extinguishment	194	0	224	13
Gain (loss) on change in fair value of contingent consideration	0	0	(262)	0
Debt discount amortization	(104)	(3)	(132)	(3)
Other income (expenses)	(5)	(2)	(6)	33
Total other expenses	(124)	21	(581)	36
Loss before provision for income taxes	(1,012)	(1,860)	(4,320)	(4,501)
Provision for income taxes	0	0	0	0
Net loss	$ (1,012)	$ (1,860)	$ (4,320)	$ (4,501)
Basic net loss per common share	$ (0.02)	$ (0.06)	$ (0.10)	$ (0.13)
Diluted net loss per common share	$ (0.02)	$ (0.06)	$ (0.10)	$ (0.13)
Weighted-average number of shares used basic per share amounts	42,003,934	33,647,045	41,875,149	33,467,000
Weighted-average number of shares used diluted per share amounts	42,003,934	33,647,045	41,875,149	33,467,000

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (4,320)	$ (4,501)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	1,726	869
Amortization of intangible assets and software	830	731
Gain on debt extinguishment	(224)	(13)
Loss on change in fair value of contingent consideration	262	(0)
Amortization of debt discount	132	3
Changes in operating assets and liabilities:
Accounts receivable	(132)	(45)
Prepaid expenses	16	(14)
Interest receivable	(10)	(36)
Accounts payable	(136)	80
Accrued liabilities	150	(153)
Deferred revenue	14	0
Right of use asset and liability, net	3	(1)
Net cash used in operating activities	(1,689)	(3,080)
CASH FLOWS FROM INVESTING ACTIVITIES
Security deposit paid	(1)	0
Cash used in investing activities	(1)	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from equity receivable	0	1,350
Net proceeds from sale of common stock	0	700
Proceeds from notes payable – related party	1,500	0
Repayments of notes payable – related party	(150)	0
Proceeds from convertible notes payable	877	300
Repayments of convertible notes payable	(598)	0
Net cash provided by financing activities	1,629	2,350
Changes in cash and cash equivalents	(61)	(730)
Cash and cash equivalents, beginning of period	244	868
Cash and cash equivalents, end of period	183	138
Supplemental disclosures of cash flows information:
Cash paid for interest	236	31
Cash paid for income taxes	0	0
NON-CASH INVESTING AND FINANCING ACTIVITIES
Non-cash discount on issuance	0	60
Assumption of note payable through issuance of note receivable	0	250
Warrants issued with convertible notes payable	$ 270	$ 0

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 183	$ 244
Accounts receivable	482	350
Prepaid expenses	9	25
Other current assets	250	250
Interest receivable	56	46
Total current assets	980	915
Right of use asset	332	18
Security deposit	33	32
Intangible assets, net of accumulated amortization	3,572	4,151
Goodwill	2,956	2,956
Capitalized software development, net of accumulated amortization	1,070	1,321
TOTAL ASSETS	8,943	9,393
Current liabilities
Accounts payable	2,205	2,566
Accrued liabilities	1,290	1,321
Notes payable	250	250
Notes payable – related party	1,350	1,000
Convertible notes payable, net of discount of $326 and $66, respectively	858	717
Deferred revenue	20	5
Contingent consideration	826	564
Right of use liability	8	18
Total current liabilities	6,807	6,441
Long-term liabilities
Notes payable – related party, net of current portion	2,181	1,000
Notes payable, net of current portion	59	59
Right of use liability, net of current portion	327	0
Total long-term liabilities	2,567	1,059
TOTAL LIABILITIES	9,374	7,500
Commitments and contingencies (Note 7)
Stockholders’ equity (deficit)
Series A preferred stock; $0.001 par value; 100,000 shares authorized; 14 shares issued and outstanding at June 30, 2026 and December 31, 2025	0	0
Common stock, $0.001 par value; 105,263,158 shares authorized; 42,003,934 and 40,488,934 issued and outstanding at June 30, 2026 and December 31, 2025, respectively	42	40
Additional paid-in capital	180,464	178,470
Accumulated deficit	(180,937)	(176,617)
Total stockholders’ equity	(431)	1,893
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$ 8,943	$ 9,393