UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On May 16, 2025, the Company was notified by The Nasdaq Stock Market LLC (“Nasdaq”) that as a result of the Company’s previously disclosed noncompliance with Nasdaq Listing Rule 5550(a)(2), Nasdaq has determined to delist the Company’s common stock and warrants from the Nasdaq Capital Market and, accordingly, will suspend trading in the Company’s common stock and warrants effective at the open of business, on May 20, 2025. Nasdaq further indicated that it would file a Form 25 Notification of Delisting with the Securities and Exchange Commission (the “SEC”).
The Company has applied and been approved to have its common stock and warrants quoted on the OTC Markets’ OTCQB® market tier, an electronic quotation service operated by OTC Markets Group Inc. for eligible securities traded over the counter. The Company expects that trading of the Company’s common stock and warrants will commence on the OTCQB® market tier at the open of business on May 20, 2025, under its current trading symbols, APCX and APCXW.
The transition to the quotation of the Company’s common stock and warrants on the OTC Markets will have no effect on the Company’s business or operations. The Company will continue to file periodic and other required reports with the SEC under applicable federal securities laws, which will be available on the SEC’s website, www.SEC.gov.
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
Resignation – Chairman of the Company’s Board of Directors
On May 19, 2025, Luke D’Angelo resigned as Chairman of the Company’s Board of Directors and as an employee of AppTech Payments Corp. (the “Company”). Mr. D’Angelo’s resignation was not due to a disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. Mr. D’Angelo’s replacement has not been determined at this time.
Resignation – President, Chief Operating Officer & Director
On May 19, 2025, Virgilio Llapitan resigned as President, Chief Operating Officer & Director of AppTech Payments Corp. (the “Company”). Mr. Llapitan’s resignation was not due to a disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. Mr. Llapitan’s replacement(s) has not been determined at this time.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| APPTECH PAYMENTS CORP. | ||
| Date: May 19, 2025 | By: | /s/ Thomas DeRosa |
| Thomas DeRosa | ||
| Chief Executive Officer | ||
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