secwatch.observer — SEC 8-K summary
======================================

Issuer:     AppTech Payments Corp. (APCX)
CIK:        0001070050
Form:       8-K
Filed at:   2026-10-05T20:43:20+00:00
Accession:  0001683168-26-007621
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

AppTech issues $560,000 10% convertible note to GS Capital, with 80,000 shares and $55,000 OID
--------------------------------------------------------------------------------

- Note principal is $560,000 with a $55,000 original issue discount; gross proceeds are $505,000 before expenses; 80,000 common shares issued at $1.00 per share.
- Note bears 10% interest per annum and matures November 28, 2027; six $87,000 principal payments begin 180 days after Sept. 29, 2026, then every 30 days for five months.
- Note is convertible at GS Capital's option into common stock at a fixed $2.00 per share; default conversion price is 80% of the lowest VWAP over the prior 10 trading days; 4.99% ownership cap.
- Events of default include missed payments, failure to deliver conversion shares, covenant breaches and bankruptcy; default amount is 150% of principal and accrued interest plus liquidated damages.
- Purchase Agreement restricts certain corporate actions without GS Capital consent; Note may be prepaid in whole or in part without penalty.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070050/000168316826007621/0001683168-26-007621-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070050/000168316826007621/apptech_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-26-007621

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