AppTech Payments Corp. Begins Trading on OTCQB® and has Director and Officer Departures

Rhea-AI Summary

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.

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.

APCX share price can now be tracked at the following link: https://www.otcmarkets.com/stock/APCX/quote

APCXW share price can now be tracked at the following link: https://www.otcmarkets.com/stock/APCXW/quote

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.

AppTech Payments Corp.
760-707-5959
info@apptechcorp.com

FAQ

Why was APCX stock delisted from Nasdaq?

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.