Carlsbad, CA (PRWEB) May 05, 2014
Effective as of April 14, 2014, the Depository Trust Company (“DTC”) has suspended all DTC services for AppTech Corp. (OTC: APCX), with the exception of custody services.
This action comes as the result of violation of Section 5 of the Securities Act of 1933 by Oppenheimer & Co, Inc., occurring between August 19, 2008 and September 20, 2010 (FINRA Department of Enforcement Disciplinary Proceeding No. 2009018668801).
The complete FINRA action may be viewed using the following link:
Although current management was not involved in these transactions and unaware of such sanctions by DTC at the time of its merger with Transcendent One in May 2013, the company and its counsel have been in direct communication with DTC to address this issue in conjunction with the preparation of its current financial audits and upcoming registration filing with the SEC.
The company is committed to restoring all services with DTC which include the settlement of its stock as soon as possible. Looking forward, the company is eager to expand all of company’s business lines and bring further value to its shareholders.
About AppTech Corp.
AppTech Corp is a financial services and information technology company. With electronic payments at its core, the company offers an array of service lines to both business and consumer markets through its branded subsidiaries, Transcendent One and TransTech One. The company focuses on patented mobile technologies to compliment its product and service offerings.
Transcendent One is the first and only Merchant-Owned credit card processing company that offers clients the opportunity to earn stock based on their processing volume. The company is a provider of merchant services, including credit card processing, electronic check & ACH processing, gift & loyalty card programs, and merchant cash advance services.
TransTech One offers commercial and residential IT services through its regional TransTech One Retail Service Centers. The company prides itself as the only information technology services company that offers merchant services and vice versa.
Headquartered in Carlsbad, CA the company has been working with numerous financial institutions, associations, and independent professionals across the country since 2006. In 2012, Inc. magazine ranked Transcendent One No. 105 on its 31st annual Inc. 500|5000, an exclusive ranking of the nation’s fastest-growing companies.
For more information please contact Investor Relations at (760) 707-5955 or IR(at)apptechcorp(dot)com.
Forward Looking Statements
The information contained in this release consists of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward -- looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, market acceptance, future capital requirements, and competition in general that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward -- looking statements whether as a result of new information, future events or otherwise.