AppTech Payments enters strategic partnership with InstaCash, receives 7% equity stake

AppTech Payments Corp.

AppTech will license patent portfolio and build/manage InstaCash's mobile-to-mobile payment system.
InstaCash is a P2P payment app like Venmo/Zelle/Cash App with lower fees and advanced security.
AppTech to develop mobile/web apps, provide user support, and obtain 7% of InstaCash's fully diluted stock.
Agreement includes automatic 12-month renewals; termination for uncured material breach after 30 days.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AppTech Payments Corp. entered into Master Services and Development Agreement with InstaCash, Inc. (effective 2023-06-18).

Action: entry
Agreement: license
Counterparty: InstaCash, Inc.
Effective: 2023-06-18

Exact text from the filing

On June 18, 2023 AppTech Payments Corp., (the “Company”) and InstaCash, Inc. (“InstaCash”) entered into a Master Services and Development Agreement (the “Agreement”) governing the relationship between the parties and the services provided by the Company to InstaCash, which include, managing InstaCash’s mobile-to-mobile payment system, designing and developing InstaCash’s mobile-to-mobile payment system, and grants InstaCash a limited, non-exclusive, worldwide right and license to use AppTech’s patent portfolio (the “AppTech Services”).

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AppTech Payments Corp. filing history →

Source: SEC EDGAR

accession 0001683168-23-004301

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