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

Company: Apple iSports Group, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 and are prepared in accordance with United States Generally Accepted Accounting Principles.

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 content, racing and sports betting, fantasy sports and sport streaming solutions. We aim 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. 

Apple iSports is at the forefront of the convergence between technology, media, and entertainment, particularly as the boundaries between sports and entertainment continue to blur. Through our strategic business acquisitions, we aim to address the critical infrastructure and connectivity gaps in today’s rapidly evolving digital landscape. As demand for high-speed access to content via broadband, cellular, and satellite networks continues to surge, our mission is to enhance and expand the underlying systems that power next-generation media consumption. This investment in infrastructure not only ensures seamless streaming and interactive experiences for fans but also empowers athletes and content creators with the tools and platforms to reach broader audiences and unlock new monetization opportunities, such as iGaming opportunities and other forms of engagement.

AiS is licensed in Australia via a provisional Northern Territory Online Bookmaking License which allows for racing, sports betting, and fantasy sports throughout Australia, which is one of the most mature legal betting markets in the world. In addition, 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. NFL and other sports bets in the US are regulated separately from racing wagering and we will seek market access licenses for a number of states offering sports betting licenses over a 3-year timeline.

Our two primary markets are the U.S. (in select states where we are licensed) 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 March 31, 2025, we (i) established a core team with the industry skills and experience to manage the Company and (ii) we received approximately $3,023,397 in private placement funding and the current outstanding balance to related parties in excess of $1,776,310 ·From December 2021 to October 2022