Company: AAPI
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001477932-25-002341
Chunk: 143

Company: Apple iSports Group, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1A
Chunk 143
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 principles generally accepted in the United States of America.

 26Table of Contents

Overview

AiS has been engaged in the development of a digital sports betting and gaming platform. Our platform, when complete, will provide users with sports betting and live content sport streaming solutions. Our aim is to create excitement and engagement and deliver the best experiences that enhance sports fandom. Users can access our products via multiple devices including the web and mobile devices. 

We are licensed in North Dakota as an (ADW) provider, subject to completion of TRPB examination, which will allow us to provide pari-mutuel betting on racing in North Dakota and up to an additional 20 states that do not have specific regulations. 

Our two primary markets are the U.S.A. (in select states where we are licensed), Tribal lands (U.S.A.) and Australia. 

We will have separate websites for both markets, namely www.appleisports.com in the U.S. and www.appleisports.com.au in Australia. 

We have achieved the following milestones: 

 ·Since the inception of AiS through December 31, 2024, we (i) established a core team with the industry skills and experience to manage the Company and (ii) received approximately $2,744,900 in private placement funding and received loans from related parties of more than $3,597,442. ·From December 2021 to October 2022, we developed our Go-to Market outline and marketing strategy, including identifying preferred suppliers for each product and initiating relationships with key suppliers and consultants; ·In June 2022, we submitted our application to the North Dakota Racing Commission for an (ADW) license, subject to the approval of the Thoroughbred Racing Protective Bureau. Completion of the TRPB examination is required to receive a state-issued ADW; This will be concluded subsequent to closing the capital raising. ·In October 2022, we engaged a provider of white-label sportsbook platforms and began customization and integration with key components (KYC, payments, CRM, credit card verification) and data feeds.; Our platform will be implemented within 12-16 weeks of completing the capital raising.; ·Effective March 23, 2023, we completed a change of control transaction pursuant to a Stock Exchange Agreement (the “Stock Exchange Agreement”) with AiS and the shareholders of AiS. The stock exchange was accounted for under the business combination under the common control of accounting. Consequently, the assets and liabilities and the