AppTech Payments Announces its Intent to Acquire Hothand Inc., Bolstering its Patent Portfolio
April 19 2022 - 6:00AM
AppTech Payments Corp. (“AppTech”) (NASDAQ: APCX) a Fintech company
powering commerce experiences, is excited to announce its
definitive agreement to purchase Hothand Inc. (“Hothand”), a patent
holding company which owns the intellectual property rights to a
wide array of mobile credit/debit transaction and mobile search,
location, offer, and payment fields.
AppTech will acquire Hothand’s portfolio of
twelve patents focused on the delivery, purchase, or request of any
products or services within a specific geolocation and time
provided by a consumer from any cell phone anywhere in the United
States. Hothand’s family of patents also includes advertising on
mobile phones within the application, where the products or
services are purchased. These patents will serve as a great
complement to AppTech’s current patented and proprietary software,
which is expected to provide progressive and adaptable products
that are available through a suite of synergistic offerings
directly to merchants, banking institutions and business
enterprises.
Luke D’Angelo, AppTech CEO commented, “The
acquisition of Hothand’s patents will bolster AppTech’s highly
anticipated technology stack, which will bring the company to the
forefront of the fintech industry. We plan to begin writing and
filing a more comprehensive patent combining our technologies with
those of Hothand, which will serve as a cornerstone of AppTech’s
upcoming product offerings.”
The purchase price is a combination of cash and
stock. Under the agreement, AppTech will acquire Hothand’s
patent portfolio which includes USPTO 7,693,752; USPTO 8,554,632;
USPTO 8,799,102; USPTO 9,436,956; USPTO 10,102,556; USPTO
10,127,592; USPTO 10,600,094; USPTO 10,621,639; USPTO 10,846,726;
USPTO 10,846,727; USPTO 10,909,593; USPTO 11,107,140.
About AppTech AppTech Payments
Corp. is developing a modular and highly scalable and secure
Fintech platform that is set to fuel the future of commerce. Our
platform drives B2B, B2C and P2P capabilities in payments as a
service (Paas) and Banking as a service (Baas) including crypto
currency payments and contactless payment options like text-to-pay,
QR, mobile-to-mobile and payments in the metaverse. The APCX
platform powers commerce so our clients, including SaaS,
e-commerce, technology, retail, financial and consumer brand
companies can deliver seamless (commerce) experiences to their
customers when, where and how they want to transact.
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
AppTech Payments Corp.info@apptechcorp.com(760)
707-5959
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