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  4. [8-K] AppTech Payments Corp. Reports Material Event

AppTech Payments (APCX) inks $500K related-party 9% note for working capital

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

AppTech Payments Corp. entered into a short-term $500,000 promissory note with the Suzanne D. Lord Spousal Estate Reduction Trust on June 26, 2026 to provide working capital and fund general corporate purposes. The note carries a 9.0% annual interest rate and matures in 90 days, with no principal or interest payments required before maturity and no prepayment penalty if accrued interest is paid at the time of prepayment.

The note includes customary default protections for the lender, such as acceleration of all principal and interest upon non-payment at maturity, bankruptcy, insolvency, or certain uncured material breaches. Because the lender trust is associated with the Board’s Chairman, Albert L. Lord, Jr., the company classifies this as a related person transaction and states that its Board approved the arrangement under its related person transaction policies.

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Insights

AppTech adds a small, related-party 90-day loan at 9%.

AppTech Payments Corp. has taken on a $500,000 promissory note at a 9.0% annual rate, maturing 90 days from June 26, 2026, to support short-term working capital and general corporate needs. This is a modest-sized, near-term borrowing with relatively high but fixed interest.

The lender is the Suzanne D. Lord Spousal Estate Reduction Trust, for which the Board chairman, Albert L. Lord, Jr., serves as trustee, making this a related person transaction under Item 404(a) of Regulation S-K. The Board’s approval under its related person policies and the inclusion of customary events of default and acceleration rights underline standard governance and creditor protections.

Future company filings may clarify whether the note is repaid at or before maturity or refinanced. How this obligation is handled at its 90‑day maturity will indicate whether liquidity needs remain short-lived or require additional financing solutions.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Promissory note principal $500,000 Short-term working capital and general corporate purposes
Interest rate 9.0% per annum Rate on $500,000 promissory note
Maturity 90 days from issuance Tenor of the June 26, 2026 promissory note
Prepayment terms No premium or penalty Prepayment allowed if accrued interest is paid
Related person classification Item 404(a) of Regulation S-K Board Chairman is trustee of lender trust
Promissory Note financial
"entered into a Promissory Note (the “Note”) with the Suzanne D. Lord"
A promissory note is a written IOU in which one party promises to pay a specific sum, often with interest, to another party by a set date or on demand. Investors care because it functions like a loan: it creates a legal claim on future cash flows, carries credit and timing risk, and can affect valuation or liquidity—think of it as a formal, tradable promise to be repaid that can be assessed like any other debt investment.
short-term working capital financial
"agreed to lend the Company $500,000 for short-term working capital and general"
Item 404(a) of Regulation S-K regulatory
"related person transaction under Item 404(a) of Regulation S-K."
events of default financial
"The Note contains customary events of default, including the Company’s failure"
Events of default are specific breaches or failures listed in a loan, bond, or credit agreement that give lenders the right to act, such as demanding immediate repayment, raising interest rates, or taking secured assets. They matter to investors because triggering one is like setting off a financial alarm: it raises the chance of foreclosure, restructuring, or bankruptcy and can sharply reduce the value of a company’s stock or bonds and increase borrowing costs.

FAQ

What financing did AppTech Payments Corp. (APCX) arrange on June 26, 2026?
AppTech arranged a $500,000 promissory note on June 26, 2026. The short-term loan is for working capital and general corporate purposes and is documented in a note filed as an exhibit to the report.

What are the key terms of AppTech Payments’ new $500,000 note?
The note totals $500,000, bears 9.0% annual interest, and matures 90 days from issuance. No payments are due before maturity, and AppTech may prepay at any time if it also pays accrued interest.

Who is the lender under AppTech Payments Corp.’s new promissory note?
The lender is the Suzanne D. Lord Spousal Estate Reduction Trust dated January 17, 2025. AppTech identifies it as a related party because the trust’s trustee is the company’s Board Chairman, Albert L. Lord, Jr.

What happens if AppTech Payments Corp. defaults on the new $500,000 note?
If AppTech defaults through non-payment at maturity, certain bankruptcy or insolvency events, or uncured material breaches, the lender may declare all outstanding principal and accrued interest immediately due and payable under customary default provisions.

Can AppTech Payments repay the $500,000 note before its 90-day maturity?
Yes. AppTech may prepay the note at any time without premium or penalty. However, it must also pay all accrued interest through the prepayment date when it chooses to repay early.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 26, 2026

 

AppTech Payments Corp.

(Exact name of registrant as specified in its charter)

 

Delaware   001-39158   65-0847995

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

5050 Avenida Encinas, Suite 120

Carlsbad, California 92008

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code (760) 707-5959

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

  ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
     
  ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
     
  ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
     
  ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class   Trading Symbol(s)   Name of Each Exchange on Which Registered
Common stock, par value $0.001 per share   APCX  

OTCQB

Warrants, each whole warrant exercisable for one share of common stock at an exercise price of $4.15   APCXW  

OTCQB

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

   

 

 

Item 1.01 Entry into a Material Definitive Agreement.

 

On June 26, 2026, AppTech Payments Corp. (the “Company”) entered into a Promissory Note (the “Note”) with the Suzanne D. Lord Spousal Estate Reduction Trust dated January 17, 2025 (the “Lender”), pursuant to which the Lender agreed to lend the Company $500,000 for short-term working capital and general corporate purposes.

 

The Note bears interest at a rate of 9.0% per annum and matures ninety (90) days from issuance. No payments of principal or interest are required prior to the maturity date. The Company may prepay the Note at any time without premium or penalty, provided accrued interest through the date of payment is also paid.

 

The Note contains customary events of default, including the Company’s failure to repay amounts due at maturity, certain bankruptcy or insolvency events, and certain uncured material breaches. Upon an event of default, the lender may declare all outstanding principal and accrued interest immediately due and payable.

 

The foregoing description of the Note does not purport to be complete and is qualified in its entirety by reference to the Promissory Note, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

Related Person Transaction

 

Albert L. Lord, Jr., the Chairman of the Company’s Board of Directors, serves as trustee of the Suzanne D. Lord Spousal Estate Reduction Trust, the lender under the Note. Accordingly, the Company considers the transaction to be a related person transaction under Item 404(a) of Regulation S-K. The Company’s Board of Directors approved the transaction in accordance with the Company’s related person transaction policies.

 

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

 

(d)  Exhibits

  

The following exhibits are filed with this Current Report on Form 8-K:

 

Number Exhibit Description
10.1 Promissory Note, dated June 26, 2026, by and between AppTech Payments Corp. and the Suzanne D. Lord Spousal Estate Reduction Trust dated January 17, 2025.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

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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: July 2, 2026 By: /s/ Felipe Corrado
    Felipe Corrado
    Chief Financial Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Source: View Original Filing on SEC EDGAR

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