secwatch.observer — SEC 8-K summary
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Issuer:     AppTech Payments Corp. (APCX)
CIK:        0001070050
Form:       8-K
Filed at:   2024-05-03T23:59:59+00:00
Accession:  0001683168-24-002963
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AppTech defers FinZeo acquisition payments; shares reissued to seller
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- Fourth Amendment defers remaining $1.2M cash purchase price; only $150k due June 21, 2024.
- Remaining payments triggered when AppTech generates $400k monthly revenue from FinZeo products or after 13 months from April 29, 2024.
- Seller receives 50,000 options with strike at closing price on amendment date.
- Board canceled 1M shares issued to seller's entity and reissued same number to seller directly.
- This is the fourth amendment to the Oct 2023 acquisition agreement; prior amendments also adjusted payment schedules.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070050/000168316824002963/0001683168-24-002963-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070050/000168316824002963/apptech_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-002963

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer