APT SYSTEMS, INC. (OTCMKTS:APTY) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.Paying Debt created by an earlier Material Definitive Agreement.
On November 20, 2014, the Company received $5,000 by way of an unsecured short-term loan from a non-related party for a term of nine months at 10% interest due upon repayment. The note payable and accrued interest was scheduled to be repaid on May 21, 2015. The Company was successful in obtaining an extension until December 31, 2015 upon making an interim renewal payment of $400. As of April 30, 2018, the principal of the note, being $5,000.00 was repaid by wire transfer to FALMOUTH STREET HOLDINGS, LLC.
On July 7, 2018 the entire calculated interest due on the note as of April 30, 2018 was repaid upon wiring $1,800.00. This sum was paid against the outstanding balance of the interest we calculated at $1,725.00. We notified the note holder of our payment at this time and have asked for detailed statements.
As of September 14, 2018, APT Systems, Inc. has further paid miscellaneous interest charges and fees of $246.64 and considers our obligation as retired. The lender continues to demand additional payments, in an amount not to exceed $2,000.00, which remains in dispute.
About APT SYSTEMS, INC. (OTCMKTS:APTY)
APT Systems, Inc. is engaged in the creation of stock trading platforms, market scans with indicators, financial applications and visualization solutions for charting the financial markets. The Company is also seeking to acquire and grow other compatible financial technology businesses or software. The Company is involved in providing technical writing and computer assisted design services to other startups using a contractor. The Company focuses on its charting software. The Company’s charting tool and the charts that it produces can be configured to the user’s preferred view, such as a line chart or candlestick chart, and the user shall be able to adjust the chart intervals as the user desires. The Company’s services may include financial software and analytical software development, algorithmic applied technology, trading platform refinement and linking to brokerage accounts, and analytical charting software development.