AppTech Payments Corp.

AppTech Payments Corp. announced several executive leadership and governance changes. Albert L. Lord was designated Executive Chairman, transitioning from an independent director role and stepping down from the Compensation Committee. The company also formalized employment arrangements for CEO Thomas DeRosa and COO Anthony Shall, with annual base salaries of $384,000 and $240,000, respectively. Additionally, Robert J. Lipstein, a retired KPMG partner, was appointed as an independent Class II director and Chairman of the Audit Committee, bringing significant financial and regulatory experience to the Board.

AppTech Payments Corp. reported a net loss of $3.31 million for Q1 2026, an increase from $2.64 million in Q1 2025, despite a significant rise in revenues to $1.46 million. The company's recurring operating losses and current financial conditions raise substantial doubt about its ability to continue as a going concern. Total liabilities increased to $8.84 million, while stockholders' equity decreased to $0.30 million.

AppTech Payments Corp. announced that its Board of Directors designated Albert L. Lord as Executive Chairman, effective May 4, 2026. In this new role, Mr. Lord will no longer be considered an independent director and will step down from the Compensation Committee. Additionally, the Board ratified employment arrangements for CEO Thomas DeRosa and COO Anthony Shall, formalizing their continuing roles and compensation.

AppTech Payments Corp. entered into securities purchase agreements with LendSpark Corporation and Manetto Hill Fund Series I, LLC. The company issued two 18% promissory notes, each with a principal amount of $500,000, for a purchase price of $475,000 per note. Additionally, each investor received a warrant to purchase 500,000 shares of common stock. This private placement provides the company with capital but comes with a high interest rate and an original issue discount.