THE WOODLANDS, Texas, March 17, 2011 /PRNewswire/ -- AppTech Corp (Pink Sheets: APCX) Eric Ottens, CEO of AppTech Corp wanted to share some of the Company's "Moving Forward" plans.
First let me state that we have submitted the documents to OTCMarkets-Pinksheets so that we can improve our designation to "Current Reporting".
I am hopeful that the new designation will be posted on the Pink Sheets in the next 3-5 business days. I would also like to address the issue of 'reverse splits and dilution'. There are no plans whatsoever for a reverse split for AppTech. Recently 2 billion shares were returned to treasury as a result of the rescission of a previous agreement. We have reissued some shares mostly for acquisitions but these are 144 shares that are restricted for one year from the date of issue. Our basic share structure has not changed since the beginning of the year. There is no basis for the concern regarding dilution.
Ottens continues: "AppTech is actively seeking 'partnerships' with other companies so as to be able to grow the company as quickly as possible. I am very much focused on the company's financial success for the benefit of all shareholders. From the time we begin negotiations for a prospective 'union' with another company until we conclude the negotiations, this time period can take several months. I have a goal to go 'full reporting' within a year. I wish I could do it sooner but the financial statements for 2009 cannot be audited since the predecessor company had inventory in its balance sheet and this inventory can no longer be valuated. No one associated with AppTech will be part of any so called pump and dump scheme. My number one objective is to grow AppTech in a methodical, disciplined manner for the benefit of all shareholders."
About AppTech Corp
AppTech Corp is developing mobile application market places serving emerging markets in Latin America, Brazil and the USA. AppTech is focused on multi-platform mobile apps designed to run on device operating systems such as Apple's iPhone and Google's Android. In addition, through its wholly owned subsidiary, Oronoco Telecom, AppTech is working on securing agreements with top communication companies in Central America, South America and The Caribbean.
Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.
Contact: |
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Virmmac, LLC |
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810-333-1129 |
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SOURCE AppTech Corp
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