Company: AAPI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001477932-25-008337
Chunk: 70

Company: Apple iSports Group, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 70
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Table of Contents

During the Nine Months Ended September 30, 2025 and 2024, the company had a total of $0 and $658,533 related to forgiveness of debt. This was related to the Company’s rescission of the third-party intellectual property and reversal of 1,000,000 AUD of accounts payable and recognized forgiveness of debt income of 1,000,000 AUD ($658,533) during the Nine Months Ended September 30, 2024.

During the Nine Months Ended September 30, 2025, and 2024, we had a net loss of $8,251,741 and $2,012,474, respectively, 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