Company: AAPI
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001477932-25-002341
Chunk: 239

Company: Apple iSports Group, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 2
Chunk 239
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 in the financial statements prior to the stock exchange are those of AiS and the Company combined and are recorded at the historical cost basis, and the consolidated financial statements after completion of the stock exchange include the combined assets and liabilities of AiS and the Company from the closing date of the stock exchange, as a result of the issuance of the shares of our common stock pursuant to the stock exchange, a change in control of the Company occurred as of the date of consummation of the transaction.

 27Table of Contents

Our address is 100 Spectrum Center Dr., Suite 900, Irvine, CA 92612, and our phone number is (949) 247-4210. We also maintain satellite offices at offices at Level 1, Paspalis Centrepoint, 48-50 Smith Street Mall, Darwin NT 0800 Australia and Lonsdale Street, Level 7, Melbourne, Australia 3000. In addition, as mentioned, we have two websites (which do not form a part of this filings): www.appleisports.com in the U.S. and www.appleisports.com.au in Australia.

Our corporate structure is depicted below:

Results of Operations (Audited) for the Fiscal Year Ended December 31, 2024 Compared to the Fiscal Year Ended December 31, 2023.

Results of Operations

During the fiscal years ended December 31, 2024 and 2023, the Company had no revenues. During the same periods, the Company had total operating expenses of $3,419,426 and $3,603,110, respectively. During the year ended December 31, 2024, operating expenses consisted of corporate expenses of $458,366, consulting and professional fees of $2,237,043, and selling, general, and administrative expenses of $724,017. During the year ended December 31, 2023, operating expenses consisted of corporate costs of $548,582, consulting and professional fees of $1,580,451, selling, general and administrative expenses of $810,066, and research and development fees of $664,011. The 6% decrease in operating expenses for the current year over the prior year is driven by increases in consulting and professional fees related to the continued development of the Company’s digital platform. This was offset by the reversal of research and development costs during 2024, as well as decreases in corporate expenses, and a decrease in marketing-related costs.

During the years ended December 31, 2024