AppTech Payments Corp. Reports Fourth Quarter and Fiscal Year 2021 Results
CARLSBAD, Calif., March 31, 2022 (GLOBE NEWSWIRE) — AppTech Payments Corp. (“AppTech”) (NASDAQ: APCX) a Fintech company powering commerce experiences, today announced results for its Fourth Quarter and Fiscal Year ended December 31, 2021. The financial statements and 10-K are available on sec.gov.
Fourth Quarter and Fiscal Year 2021 Financial Highlights
- 4Q21 revenues were $95,136, a 3.0% increase versus 3Q21, driven by larger processing volumes.
- Fiscal year 2021 revenues were $353,824, a 7% increase versus Fiscal Year 2020, driven primarily by the addition of new accounts.
- Cash balance as of December 31, 2021 was $8,026, however, the public offering was executed on January 7, 2022 netted the Company $13.4 million.
Recent Business Highlights
- Successfully uplisted onto NASDAQ on January 7, 2022.
- Onboarded a seasoned development team of experts who have expedited the platform launch date. In addition, the Company onboarded its new sales director and head of business development who will be tasked with building the foundation for the Company’s planned expansion.
- Inaugural Strategic Summit was held March 22-23, 20022 where management team gathered to discuss the Fintech platform architecture and go-to-market plan. The initial demos were also showcased.
- Developed key system functions, including CI/CD pipelines, go-forward scalable and secure AWS infrastructure, POC for Text2Pay Invoice System, and POC for Crypto Payments Invoice System.
- Researched, identified, and vetted partnership with digital asset platform partners for blockchain and cryptocurrency use cases.
- Co-developed end-to-end, automated product and opportunity intake process to streamline, categorize and prioritize new products/features and business development opportunities.
Management Commentary
Luke D’Angelo, CEO of AppTech commented: “2021 was a transformational year for AppTech as we developed the partnerships and overall strategic vision that will pave the way for our highly anticipated launch in 2022. Our strong balance sheet will allow us to properly execute our plans to become a premier Fintech platform that powers commerce experiences for our backlog of clients and their customers. We are excited that our clients are eager to onboard, gaining the tools to execute payments in today’s digital and crypto market. In addition, we look forward to forming additional partnerships with strong organizations to support integrations of digital banking and business payment acceptances.”
About AppTech
AppTech Payments Corp. is a publicly listed Fintech company utilizing innovative payment processing and digital banking technologies to complement our core merchant services capabilities. Its patented and proprietary software will provide progressive and adaptable products that are available through a suite of synergistic offerings directly to merchants, banking institutions and business enterprises.
AppTech is developing an embedded, highly secure digital payments and banking platform that powers commerce experiences for clients and their customers. Based upon industry standards for payment and banking protocols, the company will offer standalone products and fully integrated solutions that deliver innovative, unparalleled payments, banking, and financial services experiences. AppTech’s processing technologies can be taken off-the-shelf or tapped into via our RESTful API to build fully branded and customizable experiences while supporting tokenized, multi-channel, and multi-method transactions.
For more information about our company, please visit www.apptechcorp.com.
Forward-Looking Statements
This press release contains 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.
Investor Relations Contact
Lytham Partners, LLC
Mr. Ben Shamsian
New York | Phoenix
E: [email protected]
P: 646-829-9701
