Current Report Filing (8-k)
July 15 2022 - 5:21PM
Edgar (US Regulatory)
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2022-07-13
2022-07-13
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2022-07-13
2022-07-13
0001070050
APCX:WarrantsEachWholeWarrantExercisableForOneShareOfCommonStockAtExercisePriceOf5.19Member
2022-07-13
2022-07-13
iso4217:USD
xbrli:shares
iso4217:USD
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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): July 13, 2022
AppTech
Payments Corp.
(Exact
name of registrant as specified in its charter)
Delaware
(State
or other jurisdiction of incorporation)
000-27569 |
|
66-0847995 |
(Commission
File Number) |
|
(IRS
Employer Identification No.) |
5876
Owens Ave, Suite 100
Carlsbad,
California 92008
(Address
of principal executive offices) (Zip Code)
Registrant’s
telephone number, including area code (760) 707-5959
(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) |
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☐ |
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)) |
|
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☐ |
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 |
|
Nasdaq Capital Market |
Warrants,
each whole warrant exercisable for one share of common stock at an exercise price of $5.19 |
|
APCXW |
|
Nasdaq Capital Market |
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 3.01. |
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On July 13, 2022, AppTech Payments
Corp. (the “Company”) received a deficiency letter (the “Deficiency Letter”) from the Nasdaq Listing Qualifications
Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last thirty
one (31) consecutive business days, the closing bid price for the Company’s common stock has been below the minimum $1.00 per share
required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”).
The Deficiency Letter has no immediate effect on the listing of the Company’s common stock, and its common stock will continue to
trade on The Nasdaq Capital Market under the symbol “APCX” at this time.
In accordance with Nasdaq Listing
Rule 5810(c)(3)(A), the Company has been given one hundred and eighty (180) calendar days, or until January 9, 2023, to regain compliance
with the Minimum Bid Price Requirement. If at any time before January 9, 2023, the bid price of the Company’s common stock closes
at $1.00 per share or more for a minimum of ten (10) consecutive business days, the Staff will provide written confirmation that the Company
has achieved compliance.
If the Company does not regain
compliance with the Minimum Bid Price Requirement by January 9, 2023, the Company may be afforded a second one hundred and eighty (180)
calendar day period to regain compliance.
The Company intends to monitor
the closing bid price of its common stock and may, if appropriate, consider available options to regain compliance with the Minimum Bid
Price Requirement, including initiating a reverse stock split. However, there can be no assurance that the Company will be able to regain
compliance with the Minimum Bid Price Requirement or will otherwise be in compliance with other Nasdaq Listing Rules.
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 15, 2022 |
By: |
/s/
Luke D’Angelo |
|
|
Luke
D’Angelo |
|
|
Chief
Executive Officer |
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