The company's financial position is increasingly fragile, evidenced by a debt-to-equity ratio that surged to 13.24 in 2026Q1 alongside a critically low current ratio of 0.16.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'13 | Dec'12 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 |
|---|
| Total Current Assets | 1.09M | 915K | 2.42M | 1.52M | 4.42M | 622.65K | 104.83K | 84.94K | 25.19K | 52.49K | 26.49K | 40.81K | 679.68K | 54 | 8.87M | 3.18M | 8.71M | 33.22K | 82.95K | 32.66K | 239.07K | 28.77K | 100K |
| Cash & Short-Term Investments | 110K | 244K | 868K | 1.28M | 3.46M | 8.03K | 57.5K | 24.16K | 1.38K | 26.29K | 885 | 20.32K | 553.18K | 54 | 3.62M | 1.24M | 6.25M | 22.16K | 59.08K | 7.56K | 211.17K | 9.17K | 100K |
| Cash Only | 110K | 244K | 868K | 1.28M | 3.46M | 8.03K | 57.5K | 24.16K | 1.38K | 26.29K | 885 | 20.32K | 144.71K | 54 | 1.92M | 148.69K | 204.24K | 22.16K | 59.08K | 7.56K | 211.17K | 9.17K | 100K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 408.48K | 0 | 1.69M | 1.09M | 6.05M | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 716K | 646K | 43K | 30K | 51K | 40.34K | 40.63K | 29.84K | 23.8K | 26.2K | 25.6K | 20.49K | 15.24K | 0 | 3.06M | 168.15K | 2.24M | 5.24K | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | 54.89 | 169.03 | 56.87 | 21.73 | 41.37 | 41.6 | 45.01 | 42.52 | 34.23 | 37.49 | 33.14 | 38.45 | 6.41 | - | 116.25 | 100.78 | 27.46K | 21.78 | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.77M | 0 | 0 | 388 | 10.9K | 18.91K | 9.03K | 19.6K | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 82.4 | - | - | 140.22 | 4.71 | 26.8 | 17.28 | 49.6 | - |
| Other Current Assets | 264K | 0 | 0 | 0 | 0 | 0 | 0 | 25K | 0 | 0 | 0 | 0 | 111.26K | 0 | 134.98K | 0 | 217.83K | 5.43K | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 8.05M | 8.48M | 6.57M | 6.84M | 8.09M | 6.93M | 274.86K | 0 | 6.01K | 1.9M | 325 | 346.66K | 129.91K | 0 | 15.56M | 9.57M | 8.93M | 14.78K | 102.64K | 629.8K | 394.25K | 318.86K | 200K |
| Property, Plant & Equipment | 0 | 18K | 86K | 66K | 127K | 188.64K | 249.82K | 0 | 65 | 194 | 325 | 46.66K | 1.35K | 0 | 1.36M | 5.05K | 8.08K | 2.74K | 52.79K | 567.32K | 331.74K | 314K | 300K |
| Fixed Asset Turnover | 98.50x | 77.50x | 3.21x | 7.64x | 3.54x | 1.88x | 1.32x | - | 3904.38x | 1314.96x | 867.82x | 4.17x | 644.45x | - | 7.07x | 120.62x | 3.69x | 32.06x | 14.20x | 1.18x | 1.20x | 0.91x | 0.33x |
| Goodwill | 2.96M | 2.96M | 1.16M | 1.16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 3.86M | 4.15M | 5.23M | 4.43M | 5.23M | 3.44M | 0 | 0 | 0 | 1.9M | 0 | 0 | 0 | 0 | 4.29M | 0 | 21.93K | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 26K | 26K | 25.5K | 0 | 0 | 0 | 0 | 0 | 300K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.23M | 1.35M | 86K | 1.16M | 2.71M | 3.28M | 25.04K | 0 | 5.95K | 0 | 0 | 0 | 128.57K | 0 | 239.05K | 9.56M | 8.9M | 12.04K | 49.85K | 62.48K | 62.51K | 4.86K | -100K |
| Total Assets | 9.14M | 9.39M | 8.99M | 8.35M | 12.52M | 7.56M | 379.69K | 84.94K | 31.2K | 1.95M | 26.81K | 387.47K | 809.59K | 54 | 24.43M | 12.75M | 17.64M | 48K | 185.6K | 662.46K | 633.31K | 347.63K | 300K |
| Asset Turnover | 0.34x | 0.15x | 0.03x | 0.06x | 0.04x | 0.05x | 0.87x | 3.02x | 8.13x | 0.13x | 10.52x | 0.50x | 1.07x | 240.96x | 0.39x | 0.05x | 0.00x | 1.83x | 4.04x | 1.01x | 0.63x | 0.82x | 0.33x |
| Asset Growth % | 31.5% | 4.53% | 7.58% | -33.28% | 65.66% | 1890.3% | 346.99% | 172.26% | -98.4% | 7182.32% | -93.08% | -52.14% | 1499144.44% | -100% | 91.58% | -27.73% | 36656.99% | -74.14% | -71.98% | 4.6% | 82.18% | 15.88% | - |
| Total Current Liabilities | 6.68M | 6.44M | 3.44M | 4.08M | 4.93M | 7.28M | 8.21M | 7.37M | 7.08M | 6.19M | 5.54M | 4.51M | 1.64M | 122.97K | 5.61M | 270.61K | 3.48M | 1.09M | 766.26K | 304.81K | 76.83K | 68.36K | 100K |
| Accounts Payable | 2.75M | 2.57M | 1.85M | 1.8M | 347K | 1.25M | 1.64M | 1.71M | 1.56M | 1.2M | 1.07M | 689.24K | 0 | 122.97K | 1.38M | 84.06K | 124.79K | 14.03K | 128.38K | 111.91K | 67.3K | 61.39K | 0 |
| Days Payables Outstanding | 760.12 | 1.5K | 13.01K | 3.51K | 575.7 | 3.05K | 4.25K | 6.13K | 5.24K | 1.1K | 2.23K | 2.26K | - | -93.51K | 64.34 | - | 140.81 | 5.07K | 55.51 | 158.64 | 128.83 | 155.37 | - |
| Short-Term Debt | 1.77M | 1.97M | 68K | 1K | 1.85M | 1.86M | 2.86M | 2.9M | 2.89M | 2.86M | 2.55M | 1.98M | 0 | 0 | 1.53M | 14.14K | 3.28M | 573.33K | 322.41K | 116.66K | 9.53K | 6.97K | 0 |
| Deferred Revenue (Current) | 25K | 5K | 0 | 244K | 0 | 0 | 0 | 0 | 0 | 1.71M | 1.49M | 0 | 0 | 0 | 0 | 66.32K | -40.34K | 268.24K | 245.47K | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 2.14M | 703K | 1.2M | 1.77M | 2.42M | 3.87M | 688.97K | 430K | 105.9K | 430K | 430K | 1.84M | 1.64M | 0 | 2.42M | 106.09K | 70.52K | 298.26K | 70K | 3.59K | 0 | 0 | 100K |
| Current Ratio | 0.16x | 0.14x | 0.70x | 0.37x | 0.90x | 0.09x | 0.01x | 0.01x | 0.00x | 0.01x | 0.00x | 0.01x | 0.41x | 0.00x | 1.58x | 11.77x | 2.50x | 0.03x | 0.11x | 0.11x | 3.11x | 0.42x | 1.00x |
| Quick Ratio | 0.16x | 0.14x | 0.70x | 0.37x | 0.90x | 0.09x | 0.01x | 0.01x | 0.00x | 0.01x | 0.00x | 0.01x | 0.41x | 0.00x | 1.27x | 11.77x | 2.50x | 0.03x | 0.09x | 0.05x | 2.99x | 0.13x | 1.00x |
| Cash Conversion Cycle | -705.24 | - | - | - | - | - | - | - | - | - | - | - | - | - | 134.31 | - | - | -4.91K | - | - | - | - | - |
| Total Non-Current Liabilities | 2.16M | 1.06M | 79K | 79K | 166K | 230.5K | 366.89K | 160K | 0 | 4.05M | 3.62M | 0 | 1.61M | 0 | 35.53M | 16.12M | 15.87M | 135K | 160K | 232.15K | 5.69K | 15.23K | -100K |
| Long-Term Debt | 2.16M | 1.06M | 61K | 65K | 67K | 67.4K | 67.4K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21.06M | 15.07M | 15.26M | 135K | 160K | 0 | 5.69K | 15.23K | 0 |
| Capital Lease Obligations | 0 | 0 | 18K | 14K | 99K | 163.1K | 224.49K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 148.9K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 649.23K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 75K | 160K | 0 | 0 | 0 | 0 | 1.61M | 0 | 13.67M | 1.05M | 610.62K | 0 | 0 | 0 | 0 | 0 | -100K |
| Total Liabilities | 8.84M | 7.5M | 3.52M | 4.16M | 5.09M | 7.51M | 8.57M | 7.53M | 7.08M | 6.19M | 5.54M | 4.51M | 3.25M | 122.97K | 41.13M | 16.39M | 19.36M | 1.22M | 926.26K | 304.81K | 82.53K | 83.59K | -200K |
| Total Debt | 3.93M | 3.03M | 147K | 158K | 2.02M | 2.09M | 3.2M | 2.9M | 2.89M | 2.86M | 2.55M | 1.98M | 0 | 0 | 22.74M | 15.08M | 18.54M | 708.33K | 482.41K | 116.66K | 15.23K | 22.2K | 0 |
| Net Debt | 3.82M | 2.78M | -721K | -1.12M | -1.45M | 2.09M | 3.15M | 2.87M | 2.89M | 2.83M | 2.55M | 1.96M | -144.71K | -54 | 20.82M | 14.94M | 18.34M | 686.17K | 423.33K | 109.1K | -195.94K | 13.03K | -100K |
| Debt / Equity | 13.24x | 1.60x | 0.03x | 0.04x | 0.27x | 47.57x | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.33x | 0.03x | 0.08x | - |
| Debt / EBITDA | -0.55x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -0.53x | - | - | - | - | - | - | - | - | - | - | - | - | -0.01x | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -20.20x | -34.20x | -12.83x | -355.00x | -38.04x | -24.47x | -11.23x | -3.65x | -4.41x | -2.32x | -1.75x | -1.24x | -1.15x | -172.55x | -4.37x | -1.68x | 0.64x | 0.04x | -10.46x | -99.07x | -227.40x | - | - |
| Total Equity | 297K | 1.89M | 5.47M | 4.19M | 7.42M | 44K | -8.19M | -7.45M | -7.05M | -4.24M | -5.52M | -4.13M | -2.44M | -122.92K | -16.7M | -3.63M | -1.71M | -1.18M | -740.66K | 357.65K | 550.79K | 264.04K | 300K |
| Equity Growth % | -110.36% | -65.37% | 30.35% | -43.51% | 16771.58% | 100.54% | -10.06% | -5.67% | -66.16% | 23.12% | -33.7% | -69.02% | -1885.75% | 99.26% | -359.69% | -112.06% | -45.66% | -58.83% | -307.09% | -35.07% | 108.6% | -11.99% | - |
| Book Value per Share | 0.01 | 0.06 | 0.22 | 0.22 | 0.46 | 0.00 | -0.90 | -0.84 | -0.77 | -0.51 | -0.77 | -0.07 | -0.41 | -0.01 | -999999.00 | -908458.00 | -0.29 | -0.11 | -0.07 | 0.03 | 0.05 | 0.02 | 0.03 |
| Total Shareholders' Equity | 297K | 1.89M | 5.47M | 4.19M | 7.42M | 44K | -8.19M | -7.45M | -7.05M | -4.24M | -5.52M | -4.13M | -2.44M | -122.92K | -16.7M | -3.63M | -1.71M | -1.18M | -740.66K | 357.65K | 550.79K | 264.04K | 300K |
| Common Stock | 42K | 40K | 33K | 22K | 17K | 11.95K | 9.32K | 84.15K | 86.8K | 86.32K | 73.66K | 62.98K | 57.72K | 984.07K | 29.76K | 12.12K | 157.19K | 26.3K | 12.39K | 10.37K | 8.55K | 6.47K | 0 |
| Retained Earnings | -179.93M | -176.62M | -168.7M | -159.75M | -140.47M | -124.19M | -44.95M | -40.76M | -39.42M | -34.69M | -33.14M | -30.97M | -5.68M | -2.28M | -18.51M | -3.85M | -1.87M | -11.21M | -9.92M | -7.87M | -6.81M | -5.43M | -4.7M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.28M | 0 | 0 | 0 | 0 | 0 | -153.44K | -62.36K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Severe liquidity and solvency
As reported in recent financial statements, APCX's equity base has contracted significantly from $4.2 million in 2023Q4 to $297,000 by 2026Q1, signaling a rapid depletion of shareholder value as the company struggles to fund its infrastructure-heavy business model through internal operations.
The consistent decline in equity, coupled with a ballooning accumulated deficit, suggests that the company's growth strategy is currently failing to generate the returns necessary to offset its operational burn. Investors should monitor whether this trajectory forces a restructuring or further dilutive financing to maintain basic corporate existence.
Based on the company's reported figures, the debt-to-equity ratio surged to 13.24 in 2026Q1, reflecting a precarious reliance on debt financing that has grown from $158,000 in 2023Q4 to $3.9 million, despite the absence of a clear path to positive cash flow.
This shift toward higher leverage appears to be a necessity-driven response to dwindling cash reserves rather than a strategic move to optimize capital structure. The rising debt burden, when paired with persistent net losses, implies that the company may face significant refinancing risks if market conditions tighten.
According to quarterly balance sheet data, the current ratio has plummeted to a dangerously low 0.16 as of 2026Q1, indicating that the company lacks the liquid assets required to cover its immediate short-term obligations without external intervention.
The rapid decline in cash from $1.3 million in 2023Q4 to just $110,000 in 2026Q1 suggests that the company's liquidity buffer is effectively exhausted. This lack of a safety margin warrants extreme caution, as it leaves the firm highly vulnerable to even minor operational disruptions or unexpected capital requirements.
As evidenced by the company's balance sheet, goodwill accounts for $3.0 million of the $9.1 million in total assets as of 2026Q1, which may represent an overvaluation of intangible assets given the company's inability to achieve sustained profitability or positive cash flow.
The presence of significant goodwill on the balance sheet, when compared to the company's minimal tangible asset base and lack of PPE, suggests that the asset quality is highly speculative. Investors should consider the risk that these intangibles may require future impairment charges, which would further erode the already thin equity base.
Quick answers to the most common questions about buying APCX stock.
As of 2025, AppTech Payments Corp. (APCX) had total assets of $9.4M including $0.9M in current assets.
AppTech Payments Corp. (APCX) carries total debt of $3.0M, offset by $0.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
AppTech Payments Corp. (APCX) has total shareholders' equity (book value) of $1.9M ($0.06 book value per share). Book value represents the net worth of the company belonging to common stock holders.
AppTech Payments Corp. (APCX) reported a current ratio of 0.14x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.