AppTech Corp. converts or corrects default on the vast majority of unpaid debts
CARLSBAD, Calif., October 04, 2021 (GLOBE NEWSWIRE) – AppTech Corp. (âAppTechâ) (OTC: APCX), a financial technology company, today announced that the company has converted or defaulted on the vast majority of its debt. To help it in its efforts to list on a national stock exchange to further improve its financial stability, AppTech negotiated with debt holders to restructure their debt. The negotiations were well received by the creditors, allowing the Company to significantly improve its financial situation.
Debt holders were given the option of either converting AppTech’s outstanding debt into common stock at a slight discount to fair market value, or withholding all payments and interest for a period of time. one year in exchange for a one-time bonus. To date, thanks to these actions, AppTech has cleared the default on more than $ 3 million in debt. This includes over $ 1 million in conversion. AppTech will continue to seek to improve its financial position as it progresses towards its goals of effective public offering, listing on a national stock exchange, and launching its comprehensive financial services platform.
About AppTech (OTC: APCX)
AppTech Corp. (OTC: APCX) is a financial technology company using innovative payment processing and digital banking technologies to complement our core merchant services capabilities. Our patented and proprietary software will deliver progressive and adaptable products that are available through a suite of synergistic offerings directly to merchants, banking institutions and businesses. For more information about our company, please visit www.apptechcorp.com.
This press release contains forward-looking statements which are inherently subject to risks and uncertainties. All statements contained in this document that are not historical facts are forward-looking statements as defined in the United States Private Securities Litigation Reform Act of 1995. Words such as âanticipateâ, âbelieveâ, âestimateâ, â expect “,” predict “,” intend “,” may “,” plan “,” plan “,” predict “,” should “and” will “and similar expressions with regard to AppTech are intended to identify these forward-looking statements. These forward-looking statements involve risks and uncertainties concerning the Company. These risks and uncertainties include, without limitation, general economic and business conditions, the effects of geopolitical unrest and continuing regional conflicts, competition, changes in marketing methods, manufacturing or distribution delays, changes in customer order patterns, changes in supply and various other factors beyond the control of the company. Actual events or results may differ materially from those described in this press release due to any of these factors. AppTech has no obligation to update or change its forward-looking statements, whether as a result of new information, future events, or otherwise.
AppTech Corp. Investor Relations
James S. Painter III
Emerging Markets Consulting, LLC