Company: AAPI
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001477932-25-002341
Chunk: 142

Company: Apple iSports Group, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1A
Chunk 142
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 Compensation Plans

On November 1, 2024, the Board of Directors (“Board”) approved the creation of a 2024 Stock Incentive Plan (“2024 Stock Plan” or “Plan”) on terms and conditions to be approved by the Board of Directors. The Board authorized a total of 15,000,000 shares of common stock to be granted under the Plan for the benefit of employees, officers, directors, and consultants, as well as the grant of a total of 10,275,000 stock options under the Plan subject to formal agreements between the grantees and the Company. The 2024 Stock Plan will allow for the grant of stock options and restricted stock awards. 

On December 20, 2024, the Board of Directors formally approved the 2024 Stock Plan and increased the number of shares of common stock under the Plan to 20,000,000. In addition, it approved the grant of an additional 5,000,000 stock options for a total of 15,275,000 stock options under Plan, although no formal agreement between the Company and grantees has been approved by the Board of Directors. 

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. On that same date, the board approved stock option grants totaling 15,275,000 shares of common stock with an exercise price of $0.25 per share. The effective date of the stock option grants to the grantees was January 15, 2025.

Recent Sales of Unregistered Securities

None.

Issuer Purchases of Equity Securities

None.

Item 6. [Reserved]

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion should be read in conjunction with the consolidated, audited financial statements of the Company for the annual periods ended December 31, 2024, and December 31, 2023, that appear elsewhere in this report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include but are not limited to those discussed below and elsewhere in this annual report.

Our audited financial statements are stated in United States Dollars and are prepared in accordance with accounting