Company: AAPI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001477932-25-005799
Chunk: 64

Company: Apple iSports Group, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part II, Item 8
Chunk 64
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 common stock acquired at a cost of $52,954.

NOTE 8. COMMITMENTS AND CONTINGENCIES In the ordinary course of business, the Company or its subsidiaries may be named a party to claims and/or legal proceedings. Neither the Company nor its subsidiaries have been named in and are not aware of any matters which management believes will result, either individually or in the aggregate, in a material adverse effect on its financial condition or results of operations. As of June 30, 2025, the Company leased short-term office spaces (12 months or less), and as an accounting policy election, the Company has excluded all short-term leases from the presentation on the balance sheet.

NOTE 9. STOCK PLAN On November 1, 2024, the Board of Directors of the Company approved the creation of the 2024 Stock Incentive Plan (“2024 Stock Plan”). The maximum number of common stock authorized and available for issuance under the 2024 Stock Plan initially was 15,000,000 shares of common stock. It also approved the stock option grant of a total of 10,275,000, under the 2024 Stock Plan, to the employees, officers, directors, and consultants of the company, subject to the definitive agreements between the parties. The options have an exercise price of $0.25 per share, which was based on the subscription price of the Company’s then current private placement offering. In general, options become exercisable during the period when the grantee is providing services to the Company as an employee or consultant. Our policy is to issue new shares upon the exercise of options.  On March 12, 2025, the Board approved an amendment of the Company’s 2024 Stock Incentive Plan to increase the shares issued under the plan from 15,000,000 to 20,000,000 shares of common stock. The following tables summarize information about stock options transactions and related information: Shares Availability:   Plan Authorized Shares  20,000,000 Common Stock  10,275,000 Shares available for issuance  9,725,000  As of June 30, 2025, stock option grants totaling 10,275,000 shares of common stock had a weighted average grant date fair value of $0.25 per share. Compensation cost recorded for stock-based compensation awards (including awards to non-employee directors and consultants) reflected as a stock compensation expense was $2,566,