Company: AAPI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001477932-25-008337
Chunk: 58

Company: Apple iSports Group, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 58
---
, for the reasons discussed above.

For the Three Months Ended September 30, 2025, Compared to the Three Months Ended September 30, 2024

Revenues

During the three months ended September 30, 2025, and 2024, the Company had no revenues. 

Operating Expenses

During the three months ended September 30, 2025, and 2024, the Company had total operating expenses of $2,238,807 and $723,929, respectively. During the three months ended September 30, 2025, operating expenses consisted of corporate expenses of $137,256, consulting, and professional fees of $2,058,803, and selling, general, and administrative expenses of $42,748. During the three months ended September 30, 2024, operating expenses consisted of corporate expenses of $185,410, consulting, and professional fees of $421,759, and selling, general, and administrative expenses of $116,760. The 217% increase is primarily related to an increase of $1,807,148 from the stock options which were granted during the three months. See Note 9 of the unaudited financial statements included herein for additional detail on the stock incentive plan. This was offset by the decrease in marketing-related expenses until the Company moves closer to the Go Live date. 

Other Income (Expenses)

During the three months ended September 30, 2025, and 2024, we had $2,295,042 and $0 respectively, in issuance cost related to equity contract. The significant increase in issuance cost was a result of the common stock purchase agreement entered into on August 4, 2025. See note 7 for further details.

During the three months ended September 30, 2025, and 2024, we had $13,031 and $20,756, respectively, in interest expense attributable to related party debt, net of interest income. The significant decrease in interest expense is attributable to the conversion of the related party Cres loan on January 9, 2025, which resulted in a reduction of interest expense for the three months.

During the three months ended September 30, 2025, and 2024, the company had $33,468 and $3,475, respectively, in Foreign exchange gain (loss). This was attributable to international exposure to exchange rate fluctuations resulting in fluctuations that impact our results of operations

During the three months ended September 30