AppTech Payments Corp. (APCX) has been delisted from the Nasdaq Capital Market due to noncompliance with listing requirements, specifically Rule 5550(a)(2). The company's common stock and warrants have transitioned to trading on the OTCQB® market effective May 20, 2025, under symbols APCX and APCXW. Additionally, the company announced significant leadership changes, with Luke D'Angelo resigning as Chairman and Virgilio Llapitan stepping down as President, COO & Director. CEO Tom DeRosa expressed disappointment about the delisting but maintained confidence in the company's revenue outlook. The company will continue its SEC reporting obligations, and the operational aspects remain unaffected by the transition to OTC Markets.
AppTech Payments Corp. (APCX) è stata rimossa dal Nasdaq Capital Market a causa della mancata conformità ai requisiti di quotazione, in particolare la Regola 5550(a)(2). Le azioni ordinarie e le warrant della società sono passate a essere negoziate sul mercato OTCQB® a partire dal 20 maggio 2025, con i simboli APCX e APCXW. Inoltre, la società ha annunciato importanti cambiamenti nella leadership, con Luke D'Angelo che si dimette da Presidente e Virgilio Llapitan che lascia le cariche di Presidente, COO e Direttore. Il CEO Tom DeRosa ha espresso delusione per la rimozione dalla quotazione, ma ha mantenuto fiducia nelle prospettive di fatturato dell'azienda. La società continuerà a rispettare gli obblighi di rendicontazione alla SEC e gli aspetti operativi non saranno influenzati dal passaggio ai mercati OTC.
AppTech Payments Corp. (APCX) ha sido excluida del Nasdaq Capital Market debido al incumplimiento de los requisitos de cotización, específicamente la Regla 5550(a)(2). Las acciones ordinarias y los warrants de la compañía han pasado a cotizar en el mercado OTCQB® a partir del 20 de mayo de 2025, bajo los símbolos APCX y APCXW. Además, la empresa anunció cambios significativos en su liderazgo, con Luke D'Angelo renunciando como Presidente y Virgilio Llapitan dejando sus cargos como Presidente, COO y Director. El CEO Tom DeRosa expresó su decepción por la exclusión, pero mantuvo confianza en las perspectivas de ingresos de la compañía. La empresa continuará cumpliendo con sus obligaciones de reporte ante la SEC y las operaciones no se verán afectadas por la transición a los mercados OTC.
AppTech Payments Corp. (APCX)는 상장 요건, 특히 규칙 5550(a)(2) 미준수로 인해 나스닥 캐피털 마켓에서 상장 폐지되었습니다. 회사의 보통주와 워런트는 2025년 5월 20일부터 OTCQB® 시장에서 APCX 및 APCXW 심볼로 거래됩니다. 또한, 회사는 주요 경영진 변동을 발표했으며, 루크 디안젤로가 회장직에서 사임하고 버질리오 랄피탄이 사장, COO 및 이사직에서 물러났습니다. CEO 톰 데로사는 상장 폐지에 대해 아쉬움을 표명했지만 회사의 수익 전망에 대한 신뢰를 유지했습니다. 회사는 SEC 보고 의무를 계속 이행할 것이며, OTC 시장으로의 전환에도 운영에는 영향이 없습니다.
AppTech Payments Corp. (APCX) a été retirée du Nasdaq Capital Market en raison du non-respect des exigences de cotation, en particulier la règle 5550(a)(2). Les actions ordinaires et les bons de souscription de la société ont été transférés pour être négociés sur le marché OTCQB® à compter du 20 mai 2025, sous les symboles APCX et APCXW. De plus, la société a annoncé des changements importants dans sa direction, avec la démission de Luke D'Angelo en tant que président et le départ de Virgilio Llapitan de ses fonctions de président, COO et directeur. Le PDG Tom DeRosa a exprimé sa déception concernant le retrait de la cotation, mais a maintenu sa confiance dans les perspectives de revenus de l'entreprise. La société continuera à respecter ses obligations de reporting auprès de la SEC et les aspects opérationnels ne seront pas affectés par la transition vers les marchés OTC.
AppTech Payments Corp. (APCX) wurde aufgrund der Nichteinhaltung der Börsenzulassungsvoraussetzungen, insbesondere Regel 5550(a)(2), vom Nasdaq Capital Market delistet. Die Stammaktien und Warrants des Unternehmens werden ab dem 20. Mai 2025 unter den Symbolen APCX und APCXW am OTCQB® Markt gehandelt. Darüber hinaus gab das Unternehmen bedeutende Führungswechsel bekannt: Luke D'Angelo tritt als Vorsitzender zurück und Virgilio Llapitan legt seine Ämter als Präsident, COO und Direktor nieder. CEO Tom DeRosa zeigte sich enttäuscht über das Delisting, bleibt jedoch zuversichtlich hinsichtlich der Umsatzprognosen des Unternehmens. Das Unternehmen wird weiterhin seinen SEC-Berichtspflichten nachkommen, und der operative Betrieb bleibt von der Umstellung auf den OTC-Markt unberührt.
Positive
Company maintains SEC reporting compliance and operational continuity
Management expresses confidence in revenue outlook
Successfully secured trading on OTCQB market, maintaining market access for investors
Negative
Delisting from Nasdaq Capital Market due to listing rule violation
Downgrade to less prestigious OTCQB market may reduce visibility and liquidity
Simultaneous departure of both Chairman and President/COO creates leadership vacuum
No immediate replacements announced for key leadership positions
CARLSBAD, Calif., May 20, 2025 (GLOBE NEWSWIRE) -- AppTech Payments Corp. (“AppTech or the “Company”) (OTCQB: APCX), a fintech company, today announced 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, has suspended trading in the Company’s common stock and warrants effective at the open of business, May 20, 2025.
The Company’s common stock and warrants are 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’s common stock and warrants began trading 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 operations. It will continue to file all required reports with the SEC under applicable federal securities laws, which will be available on the SEC’s website, www.SEC.gov.
Tom DeRosa, CEO of AppTech Payments Corp., commented: “While we are naturally disappointed by the delisting, our focus remains firmly on our growth strategy. We are increasingly confident in our revenue outlook.”
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. A replacement has not been determined at this time.
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. A replacement has not been determined at this time.
About AppTech Payments Corp.
AppTech Payments Corp. (NASDAQ: APCX) provides digital financial services for financial institutions, corporations, small and midsized enterprises (“SMEs”), and consumers through the Company’s scalable cloud-based platform architecture and infrastructure. For more information, please visit apptechcorp.com.
Forward-Looking Statements
This press release may contain forward-looking statements that are inherently subject to risks and uncertainties. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate, believe, estimate, expect, forecast, intend, may, plan, project, predict, should, will” and similar expressions as they relate to AppTech are intended to identify such forward-looking statements. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in methods of marketing, delays in manufacturing or distribution, changes in customer order patterns, changes in customer offering mix, and various other factors beyond the Company’s control. Actual events or results may differ materially from those described in this press release due to any of these factors. AppTech is under no obligation to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
APCX was delisted from Nasdaq due to noncompliance with Listing Rule 5550(a)(2), with trading suspended effective May 20, 2025.
Where does AppTech Payments Corp (APCX) stock trade now?
APCX now trades on the OTCQB® market tier, operated by OTC Markets Group Inc., under the symbols APCX and APCXW for its common stock and warrants.
What executive changes occurred at AppTech Payments (APCX) in May 2025?
On May 19, 2025, Luke D'Angelo resigned as Chairman and Virgilio Llapitan stepped down as President, COO & Director. No replacements have been announced.
Will APCX continue to file SEC reports after moving to OTCQB?
Yes, AppTech Payments will continue to file all required reports with the SEC under applicable federal securities laws.
How does the OTCQB transition affect AppTech's operations?
According to the company, the transition to OTCQB will have no effect on its operations, though it may impact stock trading visibility and liquidity.
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