AppTech Payments Receives Notice of Delisting Review by Nasdaq Appeals Panel

On November 22, 2024, AppTech Payments Corp. (NASDAQ: APCXW) received a formal notice from Nasdaq indicating that its appeal of a delisting determination will be considered by Nasdaq’s appeals panel at an oral hearing scheduled for January 14, 2025. The company had previously received notices of non-compliance with Nasdaq listing rules regarding minimum bid price and stockholders’ equity requirements.

The delisting determination letter dated November 6, 2024, stated that unless AppTech Payments regained compliance with the minimum bid price requirement, its securities faced delisting from Nasdaq. The company timely requested a hearing before the Nasdaq hearings panel to appeal this decision.

The upcoming oral hearing on January 14, 2025, will provide AppTech Payments an opportunity to present its plan to restore compliance with Nasdaq listing standards. Once the hearing concludes, the panel will issue a written decision regarding the delisting determination. The exact timing of this decision remains uncertain.

AppTech Payments noted that there is no guarantee that its compliance plan will be approved by the appeals panel or that, if approved, the company will successfully meet Nasdaq’s listing requirements. The company’s Chief Executive Officer, Luke D’Angelo, signed the report dated November 25, 2024, indicating the company’s compliance with the reporting requirements of the Securities Exchange Act of 1934.

Investors will be waiting anxiously for further developments following the oral hearing in January and the subsequent decision by the Nasdaq appeals panel regarding AppTech Payments’ listing status.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read AppTech Payments’s 8K filing here.

About AppTech Payments

AppTech Payments Corp., a financial technology company, provides electronic payment processing technologies and merchant services in the United States. Its merchant transaction services offer processing payments for credit and debit cards through point-of-sale equipment, e-commerce gateways, periodic automatic clearing house payments, and gift and loyalty programs.