Company: AAPI
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001477932-25-004015
Chunk: 62

Company: Apple iSports Group, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part II, Item 8
Chunk 62
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 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.

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.

 6Table of Contents

Our corporate structure is depicted below:

Results of Operations

For the Three Months Ended March 31, 2025 Compared to the Three Months Ended March 31, 2024.

Revenues

During the quarters ended March 31, 2025 and 2024, the Company had no revenues. 

Operating Expenses

During the quarters ended March 31, 2025 and 2024, the Company had total operating expenses of $3,196,629 and $729,361, respectively. During the quarter ended March 31, 2025, operating expenses consisted of corporate expenses of $131,772, consulting, and professional fees of $3,033,876, and selling, general and administrative expenses of $2,597,676. During the quarter ended March 31, 2024, operating expenses consisted of corporate expenses of $138,992, consulting, and professional fees of $473,094, and selling, general and administrative expenses of $117,275. The 338% increase in operating expenses for the current quarter over the prior quarter is primarily due to an increase in selling, general and administrative expenses primarily related to compensation expenses of $2,566,695 from the stock options which were granted during the quarter. See note 9 of the unaudited financial statements included herein for additional detail on the stock incentive plan. 

During the quarters ended March 31, 2025, and 2024, we had $8,981 and $20,000 respectively, in interest expense attributable to related party debt, net of interest income. The significant decrease in interest expense is attributable to the conversion of the related party Cres loan on January 9, 2025 which