AppTech Payments Corp. Closes the Acquisition of Hothand and their Powerful Patent Portfolio
May 24 2022 - 6:00AM
AppTech Payments Corp. ("AppTech") (NASDAQ: APCX), a Fintech
company powering commerce experiences, is excited to announce the
closing of its acquisition of Hothand Inc. ("Hothand"), a patent
holding company that owns the intellectual property rights to a
patent portfolio that broadly covers geofence triggered ecommerce
and/or advertising via cell phone.
The purchase price was a combination of cash and
stock, to be disbursed upon predetermined revenue milestones.
AppTech now owns Hothand’s portfolio of twelve
patents including 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. These patents are
focused on the delivery, purchase, or request of any products or
services within specific geolocation and time parameters, provided
by a consumer's cell phone anywhere in the United States.
Additionally, Hothand's family of patents includes a patent that
protects advertising on a store's mobile application when the cell
phone is in the store and the ads shown are being triggered by
geolocation tagging.
The acquisition of Hothand's intellectual
property portfolio continues to secure AppTech as a serious
provider of Fintech services. In combination with AppTech's current
patents and platform, these patents allow simple integration and a
consistent buyer experience via all channels of commerce, including
virtual and augmented reality environments and the Metaverse,
positioning AppTech as a unique provider in the Fintech
marketplace.
"We are excited to officially begin the process
of combining our technologies with those of Hothand, which will
serve as a cornerstone of AppTech's upcoming product suite," said
Luke D'Angelo, CEO of AppTech. "The Hothand patents have
successfully been defended in the U.S. court system, and together
with our current IP, AppTech has a strong foundation to become a
Fintech leader. Our combined 16 patents encompass services from the
taking of payments through digital banking services. Ultimately, we
are creating a barrier to competitors, which will be difficult to
breach without licensing our technology or paying a royalty to
AppTech for online transactions and/or geofence triggered
advertising. Our strong patent portfolio will be critical as we
continue to roll-out our Fintech platform world-wide and explore
out-licensing agreements with various companies."
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.
AppTech's proprietary software provides progressive and adaptable
products through a suite of synergistic offerings directly to
merchants, banking institutions and business enterprises. 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 Shamsianshamsian@lythampartners.com(646) 829-9701
Media Contact KCD PRapptech@kcdpr.com(610)
955-7759
AppTech Payments Corp.info@apptechcorp.com(760)
707-5959
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