AppTech Payments Corp. 8-K

What Happened
AppTech Payments Corp. announced on June 26, 2026 that it entered into a Promissory Note with the Suzanne D. Lord Spousal Estate Reduction Trust (the “Lender”) to borrow $500,000 for short‑term working capital and general corporate purposes. The note carries a 9.0% annual interest rate, matures 90 days from issuance, and allows prepayment without penalty if accrued interest is paid. The trust’s trustee is Albert L. Lord, Jr., the Company’s Board chairman; the Board approved the transaction under the company’s related‑person policies.

Key Details

• Amount: $500,000 principal loaned under the Promissory Note dated June 26, 2026.
• Interest & term: 9.0% per annum; maturity 90 days from issuance; no required payments of principal or interest before maturity.
• Prepayment & default: Prepayment permitted without premium (must pay accrued interest); customary events of default (e.g., failure to repay at maturity, bankruptcy, uncured material breaches) allow lender to declare amounts immediately due.
• Related‑party: Lender is a trust for which Board Chairman Albert L. Lord, Jr. serves as trustee; Company treated this as a related‑person transaction and the Board approved it. The Promissory Note is filed as Exhibit 10.1 to the 8‑K.

Why It Matters
This 8‑K indicates AppTech has taken on short‑term debt to address working capital needs. The loan increases the company’s near‑term financial obligations (a direct financial obligation due in ~90 days) and will generate interest expense at 9.0% if not repaid or prepaid. Because the lender is a trust chaired by the Company’s chairman, investors should note the related‑party nature of the funding (the Board approved the deal), which the company disclosed as required.