AppTech Payments Corp. 8-K

What Happened

• AppTech Payments Corp. (APCX) filed an 8-K on July 21, 2026 disclosing that on July 17, 2026 it entered into a Promissory Note for $500,000 with the Suzanne D. Lord Spousal Estate Reduction Trust. The loan is intended for short-term working capital and general corporate purposes.
• The Note bears interest at 9.0% per annum, matures 90 days from issuance, requires no principal or interest payments before maturity, and may be prepaid at any time with accrued interest.

Key Details

• Lender: Suzanne D. Lord Spousal Estate Reduction Trust (trust dated January 17, 2025).
• Related party: Albert L. Lord, Jr., Chairman of AppTech’s Board, serves as trustee of the lending trust; the Board approved the transaction under its related person transaction policies.
• Terms: $500,000 principal; 9.0% annual interest; 90‑day maturity; no periodic payments required before maturity; prepayment allowed without penalty (must pay accrued interest).
• Default: Note contains customary events of default (e.g., failure to repay at maturity, bankruptcy, material uncured breaches) allowing lender to accelerate amounts due.

Why It Matters

• This creates a new short-term financial obligation of $500,000 (a direct financing source) that the company intends to use for working capital needs. Investors should note the related-party nature of the loan and that the Board approved it under company policy.
• The loan’s short maturity (90 days) and fixed 9.0% rate are material to near-term cash planning—investors may watch for follow-up disclosures about repayment, refinancing, or further funding needs.