secwatch.observer — SEC 8-K summary
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Issuer:     AppTech Payments Corp. (APCX)
CIK:        0001070050
Form:       8-K
Filed at:   2025-07-29T23:59:59+00:00
Accession:  0001683168-25-005471
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AppTech issues $360K convertible note with Labrys Fund; conversion price can drop to 80% of VWAP
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- Gross proceeds $300K after $60K original issue discount; 10% interest, 12-month maturity.
- Conversion price initially $2.00, after Apr 21, 2026 lower of $2.00 or 80% of lowest VWAP.
- Default triggers 115% of outstanding principal plus accrued interest, immediate acceleration.
- Beneficial ownership cap 4.99% (may be increased to 9.99% on 61 days' notice).
- Shares issuable upon conversion unregistered; piggy-back registration rights granted.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070050/000168316825005471/0001683168-25-005471-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070050/000168316825005471/apptech_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-25-005471

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