Current Report Filing (8-k)
April 05 2023 - 4:31PM
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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): March
30, 2023
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) |
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☐ |
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 $4.15 |
|
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 5.02 (c). Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of Benjamin Jenkins
as Company’s Chief Technology Officer
On March 30, 2023, Benjamin Jenkins
notified AppTech Payments Corp. (“AppTech” or “Company”) that he would be resigning as Chief Technology Officer
(“CTO”) of the Company to be effective March 31, 2023, and the Company has mutually agreed to this date. Mr. Jenkins’
resignation was not due to any disagreement with the Company on any matter relating to its operations, policies, practices, or otherwise
known to any executive officer of the Company.
Mehrak Hamzeh will assume the duties
of Company’s Chief Technology Officer but not the title
As of April 5, 2023, the Company has
not filled the vacant position of Chief Technology Officer. However, responsibilities formerly under the CTO role were assumed by Consultant
Mehrak Hamzeh, effective March 31, 2023. Mr. Hamzeh has worked in various capacities with the Company over the last ten years. This includes
operating as an advisor to the CEO overseeing the CTO role and the Company’s platform rollout since November 2022. In addition,
Mr. Hamzeh has been the Company’s Intellectual Property & Partnerships Consultant since January 2022.
In his capacity and current role,
Hamzeh will provide the following services to the Company:
| · | Successful launch of Text To Pay |
| · | Successful launch of P2P closed-loop payment system |
| · | Successful launch of 2-way SMS chat |
| · | Successful launch of Banking as a Service / Payments as a Service offering API
& white label |
| · | Strategic Partnerships and Licensing to monetize Intellectual Property |
| · | Responsible for overseeing the completion of the platform rollout |
| · | Managing and evaluating the Company’s technological resources |
Mehrak Hamzeh’s background includes
a focus of over 20 years in wireless, banking, and internet sectors, with a passion for digital banking and payment experiences. He started
his career with Silicon Valley Bank in their Venture Capital Group, reporting directly to Greg Becker on Sandhill Road in Palo Alto, then
moved on to a venture-backed start-up to launch and design the first stock trading application for your phone with E*TRADE in 2001 using
Palm Pilot and the first Samsung black and white flip phones using the WAP browser.
Mr. Hamzeh co-founded Globaltel Media, Inc
in 2004, where he authored patents issued by the USPTO that became the cornerstone of mobile payments as we see it today. He also authored
patents that became the de facto standard for mobile media delivery and 2-way SMS communication systems over wireless. AppTech acquired
Globaltel Media’s patents in 2017.
In 2006, Hamzeh co-founded Transcendent One,
Inc (“T1”) with Luke D’Angelo, where they pioneered the first merchant-owned payment processing company earning the
ranks of INC 5000 Magazine status in 2011. T1 became AppTech in 2013.
In 2010, Hamzeh co-founded RhinoPay, a P2P
text payment company, filed a patent, then acquired subsequently by Spindle, Inc in 2011, an OTC publicly traded company at that time.
Mr. Hamzeh has deep experience
building and managing in-house, near-shore, and offshore engineering teams and strategies to launch enterprise-grade platforms to market.
Mr. Hamzeh earned his Bachelor of Science in Business Administration from California Polytechnic State University, San Luis Obispo, with
an emphasis in Management Information Systems.
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:
April 5, 2023 |
By: |
/s/
Luke D’Angelo |
|
|
Luke
D’Angelo |
|
|
Chief
Executive Officer |
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