Company: AAPI
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001477932-25-002341
Chunk: 156

Company: Apple iSports Group, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1A
Chunk 156
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,525    - Accrued interest - related party  87,629   60,111 Accrued payroll  304,187   75,085 Prepaid and other assets  (4,844 )  - Deposits  (89,580 )   - Net cash used in operating activities  (2,356,400 )  (1,466,521 )         Cash flows from investing activities        Convertible notes receivable  (80,000 )  - Net cash used in investing activities  (80,000 )  -          Cash flows from financing activities        Advances to related party  -   300 Proceeds from loan payable from related party  1,163,789   1,368,621 Proceeds from issuance of common stock  1,344,900   100,000 Net cash provided by financing activities  2,508,689   1,468,921          Effect of changes in exchange rates on cash and cash equivalents  (30,795 )  (21,584 )         Net increase (decrease) in cash and cash equivalents  41,494   (19,184 )         Cash and cash equivalents, beginning of year  673   19,857          Cash and cash equivalents, end of year  $42,167  $673          Supplemental disclosure of cash flow information:        Cash paid for interest  -   - Cash paid for income tax  -   - Noncash increase in Forgiveness of debt  (659,663 )  - 

The accompanying notes are an integral part of these consolidated financial statements

 F-7Table of Contents

APPLE ISPORTS GROUP, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1. COMPANY HISTORY AND NATURE OF BUSINESS Apple iSports Group, Inc. (the “Company”) was incorporated under the laws of the State of Nevada in 1975 as Vita Plus Industries, Inc. In March 1999, the Company sold its remaining inventory and changed its name to Prevention Insurance.com and effective August 31, 2023, changed its name to Apple iSports Group, Inc. Effective March 23, 2023, the Company closed a share