Company: AAPI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001477932-25-008337
Chunk: 69

Company: Apple iSports Group, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 69
---
, the Company had total operating expenses of $6,067,188 and $2,602,391, respectively. During the Nine Months Ended September 30, 2025, operating expenses consisted of corporate expenses of $402,871, consulting and professional fees of $5,561,355, and selling, general, and administrative expenses of $102,962. During the Nine Months Ended September 30, 2024, operating expenses consisted of corporate expenses of $546,019, consulting and professional fees of $1,528,580, and selling, general, and administrative expenses of $527,792. The 133% increase in operating expenses during the Nine Months Ended September 30, 2025, compared to the Nine Months Ended September 30, 2024, is primarily due to an increase in Consulting and professional fees. This is attributed to an increase of $4,373,843 from the stock options which were granted during the nine months, $2,566,695 related to the US plan and $1,807,148 related to the Australian Plan. See Note 9 of the unaudited financial statements included herein for additional detail on the stock incentive plan. This was offset by a decrease in marketing-related expenses during the Nine Months Ended September 30, 2025, until the Company moves closer to the Go Live date.

Other Income (Expenses)

During the Nine Months ended September 30, 2025, and 2024, we had $2,295,042 and $0 respectively, in issuance cost related to equity contract. The significant increase in issuance cost was a result of the common stock purchase agreement entered into on August 4, 2025. See note 7 for further details.

During the Nine Months Ended September 30, 2025, and 2024, we had $30,905 and $65,492, 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 resulted in a reduction of interest expense for the Nine Months Ended September 30, 2025.

During the Nine Months Ended September 30, 2025, and 2024, the company had $141,394 and ($3,124), respectively, in Foreign exchange gain (loss). This was attributable to international exposure to exchange rate fluctuations resulting in fluctuations that impact our results of operations

 7