secwatch.observer — SEC 8-K summary
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Issuer:     AppTech Payments Corp. (APCX)
CIK:        0001070050
Form:       8-K
Filed at:   2025-06-25T23:59:59+00:00
Accession:  0001683168-25-004745
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AppTech Payments issues $360K convertible note with 20% OID to accredited investor
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- Issued $360K principal convertible promissory note with 20% OID, net proceeds ~$292.5K after fees.
- Note matures in 6 months, bears 10% interest, convertible at $2.00/share; redemption at 100% of principal plus interest.
- Non-accountable fee of $7,500 withheld from purchase price; placement and legal fees also paid.
- Conversion capped at 4.99% beneficial ownership, adjustable to 9.99% with 61-day notice.
- 3.6M shares reserved for conversion; default triggers 18% interest and acceleration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070050/000168316825004745/0001683168-25-004745-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070050/000168316825004745/apptech_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-25-004745

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