AppTech Payments Corp. Reports Fourth Quarter and Fiscal Year 2021 Results
March 31 2022 - 3:53PM
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 StatementsThis 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,
LLCMr. Ben ShamsianNew York | PhoenixE:
shamsian@lythampartners.comP: 646-829-9701
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